Document:

Agreement of Lease, made as of the 24th day of March, 2006

 Exhibit 10.1 
 AGREEMENT OF LEASE 
 between 
 345 PAS OWNER, LLC 
 Landlord 
 and 
 DIGITAS INC. 
 Tenant 
 Dated: March 24, 2006 
 345 Park Avenue South 
 New York, New York 

 TABLE OF CONTENTS 
  

					
	 	  	 	  	Page
	 ARTICLE 1
	  	 GLOSSARY
	  	5
	 ARTICLE 2
	  	 DEMISE, PREMISES, TERM, RENT
	  	12
	 ARTICLE 3
	  	 ESCALATION
	  	14
	 ARTICLE 4
	  	 ELECTRICITY
	  	23
	 ARTICLE 5
	  	 USE AND OCCUPANCY
	  	26
	 ARTICLE 6
	  	 ALTERATIONS
	  	27
	 ARTICLE 7
	  	 REPAIRS; FLOOR LOAD
	  	34
	 ARTICLE 8
	  	 WINDOW CLEANING
	  	35
	 ARTICLE 9
	  	 REQUIREMENTS OF LAW
	  	36
	 ARTICLE 10
	  	 SUBORDINATION
	  	38
	 ARTICLE 11
	  	 RULES AND REGULATIONS
	  	41
	 ARTICLE 12
	  	 INSURANCE, PROPERTY LOSS OR DAMAGE; REIMBURSEMENT
	  	41
	 ARTICLE 13
	  	 DESTRUCTION BY FIRE OR OTHER CAUSE
	  	45
	 ARTICLE 14
	  	 EMINENT DOMAIN
	  	47
	 ARTICLE 15
	  	 ASSIGNMENT, SUBLETTING, MORTGAGE, ETC.
	  	49
	 ARTICLE 16
	  	 ACCESS TO PREMISES
	  	59
	 ARTICLE 17
	  	 CERTIFICATE OF OCCUPANCY
	  	60
	 ARTICLE 18
	  	 DEFAULT
	  	61
	 ARTICLE 19
	  	 REMEDIES AND DAMAGES
	  	63
	 ARTICLE 20
	  	 FEES AND EXPENSES
	  	65
	 ARTICLE 21
	  	 NO REPRESENTATIONS BY LANDLORD
	  	66
	 ARTICLE 22
	  	 END OF TERM
	  	66
	 ARTICLE 23
	  	 POSSESSION
	  	67
	 ARTICLE 24
	  	 NO WAIVER
	  	68
	 ARTICLE 25
	  	 WAIVER OF TRIAL BY JURY
	  	69
	 ARTICLE 26
	  	 INABILITY TO PERFORM
	  	69
	 ARTICLE 27
	  	 BILLS AND NOTICES
	  	70
	 ARTICLE 28
	  	 SERVICES AND EQUIPMENT
	  	72
	 ARTICLE 29
	  	 PARTNERSHIP TENANT
	  	78
	 ARTICLE 30
	  	 VAULT SPACE
	  	78
	 ARTICLE 31
	  	 SIGNS
	  	79
	 ARTICLE 32
	  	 BROKER
	  	80
	 ARTICLE 33
	  	 INDEMNITY
	  	80
	 ARTICLE 34
	  	 ADJACENT EXCAVATION; SHORING
	  	82
	 ARTICLE 35
	  	 OPTION TO CANCEL
	  	82
	 ARTICLE 36
	  	 RENT REGULATION
	  	83
	 ARTICLE 37
	  	 COVENANT OF QUIET ENJOYMENT
	  	83
	 ARTICLE 38
	  	 LANDLORD’S WORK
	  	84
	 ARTICLE 39
	  	 MISCELLANEOUS
	  	86
	 ARTICLE 40
	  	 SECURITY DEPOSIT
	  	92
	 ARTICLE 41
	  	 ROOF INSTALLATIONS
	  	94
	 ARTICLE 42
	  	 OPTIONS TO RENEW
	  	95

  

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	 ARTICLE 43
	  	 INTENTIONALLY OMITTED
	  	97
	 ARTICLE 44
	  	 SELF-HELP
	  	98
	 ARTICLE 45
	  	 CAPITAL IMPROVEMENT AMORTIZATION
	  	99
	 ARTICLE 46
	  	 EXISTING SUBLEASE; BASEMENT SPACE
	  	102

  

					
	 SCHEDULES A-1 through A-11
	  	 Floor Plans

	 SCHEDULE B
	  	-	  	 Building Rules and Building Standards for Alterations

	 SCHEDULE C
	  	-	  	 Demolition Specifications

	 SCHEDULE D
	  	-	  	 Cleaning Specifications

	 SCHEDULE E
	  	-	  	 Form of Letter of Credit

	 SCHEDULE F
	  	-	  	 Rules and Regulations

	 SCHEDULE G
	  	-	  	 Form of Non-Disturbance Agreement

	 SCHEDULE H
	  	-	  	 Commencement Date Agreement

	 SCHEDULE I
	  	-	  	 Rendering and Specifications of Tenant Building Lobby Signage

	 SCHEDULE J
	  	-	  	 Locations, Specifications and Rendering of Tenant’s Exterior Signs

	 SCHEDULE K
	  	-	  	 Renderings of Lobby Upgrade

	 SCHEDULE L
	  	-	  	 Renderings of Building Storefront Upgrade

	 SCHEDULE M
	  	-	  	 Form of Subtenant Non-Disturbance Agreement

	 SCHEDULE N
	  	-	  	 Approved Contractors and Subcontractors

	 SCHEDULE O
	  	-	  	 HVAC Specifications

	 SCHEDULE P
	  	-	  	 Intentionally Omitted

	 SCHEDULE Q
	  	-	  	 Building Service Charges

	 SCHEDULE R
	  	-	  	 Finish Quality for Core Restrooms

	 SCHEDULE S
	  	-	  	 Interior Elevator Cab

	 SCHEDULE T
	  	-	  	 Work Schedule

	 SCHEDULE U
	  	-	  	 Form of Consent to Assignment of Lease

	 SCHEDULE V
	  	-	  	 Form of Consent to Sublease

  

 ii 

 AGREEMENT OF LEASE, made as of the      day of March, 2006 between 345 PAS OWNER,
LLC, a Delaware limited liability company, having an address at c/o RFR Holding LLC, 390 Park Avenue, 3rd Floor, New York, New York 10022, as Landlord, and DIGITAS INC., a Delaware corporation, having an address at 33 Arch Street, Boston,
Massachusetts, 02110, as Tenant. 
 REFERENCE PAGE 
 In addition to other terms elsewhere defined in this Lease, the following terms whenever used in this Lease shall have the meanings set forth in this Reference Page. 
  

					
	 (1)
	  	Premises:	  	The entire second through twelfth floors of the Building, as approximately shown hatched on the floor plans annexed to this Lease as Schedules A-1 through A-11.
			
	 (2)
	  	Commencement Date:	  	 6th and
10th Floors

			
		  		  	The date of this Lease. The Commencement Date for the sixth and tenth floors shall be referred to in this Lease as the “First Commencement Date.”
			
		  		  	 2nd through
5th Floors, 11th and 12th Floors

			
		  		  	April 1, 2011
			
		  		  	 7th,
8th and 9th Floors

			
		  		  	As set forth in Article 38, the date on which the Substantial Completion of certain items of Landlord’s Work in such portion of the Premises shall have occurred and possession
delivered to Tenant vacant and free of occupants or the date Tenant or any Person claiming under or through Tenant first occupies such portion of the Premises for the performance of the Initial Alterations (as hereinafter defined), whichever occurs
earlier.
			
	 (3)
	  	Rent Commencement Date:	  	The date that is eight months after the applicable Commencement Date. The Rent Commencement Date for the sixth and tenth floors shall be referred to in this Lease as the “First Rent
Commencement Date.”
			
	 (4)
	  	Fixed Expiration Date:	  	The last day of the month in which the fifteenth anniversary of the First Rent Commencement Date shall occur, subject to Tenant’s rights to renew the Term under Article
42.
			
	 (5)
	  	Term:	  	The period of time commencing on the First Commencement Date and ending on the Fixed Expiration Date, subject to Tenant’s rights to renew the Term under Article 42.

					
	 (6)
	  	Fixed Rent:	  	 6th and
10th Floors

			
		  		  	 (a)    $1,499,944 per annum ($124,995.33 per month) from the First Rent Commencement Date through the day preceding the
fifth anniversary of the First Rent Commencement Date;

			
		  		  	 (b)    $1,676,408 per annum ($139,700.67 per month) from the fifth anniversary of the First Rent Commencement Date through
the day preceding the tenth anniversary of the First Rent Commencement Date; and

			
		  		  	 (c)    $1,764,640 per annum ($147,053.33 per month) from the tenth anniversary of the First Rent Commencement Date through
the Fixed Expiration Date.

			
		  		  	 2nd through
5th Floors and 11th and 12th Floors

			
		  		  	 (a)    $5,029,224 per annum ($419,102 per month) (plus the amount of Escalation Rent measured on a per rentable square
foot basis then payable for the 6th and 10th floors, multiplied by 132,348 (the “Second Escalation Rent Adjustment”)) from the Rent Commencement Date for such floors through the day
preceding the tenth anniversary of the First Rent Commencement Date; and

			
		  		  	 (b)    $5,293,920 per annum ($441,160 per month) (plus the Second Escalation Rent Adjustment) from the tenth anniversary
of the First Rent Commencement Date through the Fixed Expiration Date.

			
		  		  	 7th,
8th and 9th Floors

			
		  		  	 (a)    $2,249,916 per annum ($187,493 per month) (plus the amount of Escalation Rent measured on a per rentable square
foot basis then payable for the 6th and 10th floors, multiplied by 66,174 (the “First Escalation Rent Adjustment”)) from the Rent Commencement Date for such floors through the day
preceding the fifth anniversary of the First Rent Commencement Date;

  

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		  		  	 (b)    $2,514,612 per annum ($209,551 per month) (plus the First Escalation Rent Adjustment) from the fifth anniversary of
the First Rent Commencement Date through the day preceding the tenth anniversary of the First Rent Commencement Date; and

			
		  		  	 (c)    $2,646,960 per annum ($220,580 per month) (plus the First Escalation Rent Adjustment) from the tenth anniversary of
the First Rent Commencement Date through the Fixed Expiration Date.

			
	 (7)
	  	Tenant’s Share:	  	 6th and
10th Floors

			
		  		  	17.07% for Taxes and 18.18% for Operating Expenses
			
		  		  	 2nd through
5th Floors, 11th and 12th Floors

			
		  		  	51.21% for Taxes and 54.55% for Operating Expenses
			
		  		  	 7th,
8th and 9th Floors

			
		  		  	25.61% for Taxes and 27.27% for Operating Expenses
			
		  		  	For the purposes of this Lease, Landlord and Tenant agree, without representation, that each floor of the Premises contains 22,058 rentable square feet, the office portion of the Building
contains 242,638 rentable square feet and the retail space in the Building contains 15,800 rentable square feet.
			
	 (8)
	  	Base Tax Factor:	  	 6th and
10th Floors

			
		  		  	The Taxes payable for the Tax Year commencing on July 1, 2006 and ending on June 30, 2007.
			
		  		  	 2nd through
5th Floors, 11th and 12th Floors

			
		  		  	The Taxes payable for the Tax Year commencing on July 1, 2010 and ending on June 30, 2011.
			
		  		  	 7th,
8th and 9th Floors

			
		  		  	The Taxes payable for the Tax Year commencing on July 1, 2008 and ending on June 30, 2009.

  

 3 

					
	 (9)
	  	Base Operating Factor:	  	 6th and
10th Floors

			
		  		  	The Operating Expenses paid or incurred with respect to the Operating Year beginning January 1, 2006 and ending on December 31, 2006.
			
		  		  	 2nd through
5th Floors, 11th and 12th Floors

			
		  		  	The Operating Expenses paid or incurred with respect to the Operating Year beginning January 1, 2011 and ending on December 31, 2011.
			
		  		  	 7th,
8th and 9th Floors

			
		  		  	The Operating Expenses paid or incurred with respect to the Operating Year beginning January 1, 2008 and ending on December 31, 2008.
			
	 (10)
	  	Permitted Use:	  	The Premises shall be used for general, executive and administrative offices and uses incidentally and directly related thereto.
			
	 (11)
	  	Broker(s):	  	RFR Realty LLC and Cushman and Wakefield, Inc.
			
	 (12)
	  	Late Charge:	  	As more particularly set forth in Section 20.2, (i) three percent (3%) of any Rental not paid within five (5) days after becoming due and (ii) interest at the Applicable Rate on any
Rental not paid within ten (10) days after becoming due, computed from the date such Rental was due (without regard to such grace period) through the date paid. Notwithstanding the foregoing, (a) in the first instance only during each twelve (12)
consecutive month period during the Term, no late charge shall be payable unless and until the applicable payment is not paid within three (3) Business Days after the date that Landlord gives Tenant a Notice that such payment is due and (b) the late
charge described in clause (i) above shall not apply to the first three late payments during any twelve (12) consecutive month period.
			
	 (13)
	  	Tenant Improvement Allowance:	  	 6th and
10th Floors

			
		  		  	$1,764,640

  

 4 

					
		  		  	 2nd through
5th Floors and 11th and 12th Floors

			
		  		  	 $5,293,920

			
		  		  	 7th,
8th and 9th Floors

			
		  		  	 $2,646,960.

			
	 (14)
	  	Security Deposit:	  	 $2,700,000 as the same shall be increased and reduced pursuant to Article 40.

			
	 (15)
	  	Renewal Terms:	  	 Two (2) terms of five (5) years each.

			
	 (16)
	  	Option to Cancel:	  	 As described in Article 35.

 W I T N E S S E T H:

 The parties hereto, for themselves, their legal representatives, successors and assigns, hereby agree as follows: 
 ARTICLE 1 
 GLOSSARY 
 The following terms shall have the meanings indicated below: 
 “AAA” shall have the meaning set forth in Section 42.3. 
 “Accelerated
Capital Improvements Payment” shall have the meaning set forth in Section 45.1. 
 “Accelerated Capital
Improvements Work” shall have the mean set forth in Section 45.1. 
 “ADA” shall have the meaning set
forth in Section 9.1. 
 “Additional Rent” shall have the meaning set forth in Section 2.2.

 “Administrative Code” shall mean the Administrative Code of the City of New York, as amended. 
 “Alteration Fee” shall have the meaning set forth in Section 6.2. 
 “Alterations” shall mean alterations, decorations, installations, repairs, improvements, additions, replacements or other physical
changes in or about the Premises made by Tenant. 
  

 5 

 “Applicable Rate” shall mean the lesser of (x) two percentage points above the then
current Base Rate, and (y) the maximum rate permitted by applicable law. 
 “ASHRAE” shall mean the American Society of
Heating, Refrigeration and Air-Conditioning Engineers. 
 “Bankruptcy Code” shall mean 11 U.S.C. Section 101 et
seq., or any statute, federal or state, of similar nature and purpose. 
 “Baseball Arbitrator” shall have the meaning
set forth in Section 42.3. 
 “Base Rate” shall mean the rate of interest publicly announced from time to time
by Citibank, N.A., or its successor, as its “base rate” (or such other term as may be used by Citibank, N.A., from time to time, for the rate presently referred to as its “base rate”). 
 “BID Charges” shall have the meaning set forth in Section 3.1. 
 “Building” shall mean the buildings, equipment and other improvements and appurtenances of every kind and description now located or
hereafter erected, constructed or placed upon the Land and any and all alterations, renewals, and replacements thereof, additions thereto and substitutions therefor. 
 “Building Lobby Work” shall have the meaning set forth in Section 38.1(E). 
 “Building Storefront Work” shall have the meaning set forth in Section 38.1(F). 
 “Building
Systems” shall mean the base building mechanical, electrical, sanitary, heating, air conditioning, ventilating, elevator, plumbing, life-safety and other service systems of the Building, but shall not include installations made by Tenant or
fixtures or appliances. 
 “Business Days” shall mean all days, excluding Saturdays, Sundays and all days observed as
holidays by the State of New York, the federal government or the labor unions servicing the Building. 
 “Cancellation
Notice” shall have the meaning set forth in Article 35. 
 “Cancellation Option Termination Date” shall have
the meaning set forth in Article 35. 
 “Cancellation Payment” shall have the meaning set forth in Article 35.

 “Class E Systems” shall have the meaning set forth in Section 7.1. 
 “Control” shall have the meaning set forth in Section 15.3. 
 “Critical Services” shall have the meaning set forth in Section 28.3(B). 
 “Cure Notice” shall have the meaning set forth in Section 28.8. 
  

 6 

 “Decorative Alterations” shall have the meaning set forth in Section 6.1.

 “Deficiency” shall have the meaning set forth in Section 19.2. 
 “Electricity Additional Rent” shall have the meaning set forth in Section 4.2. 
 “Elevator Work” shall have the meaning set forth in Section 38.1(D). 
 “Escalation Rent” shall mean payments required to be made by Tenant pursuant to Article 3. 
 “Event of Default” shall have the meaning set forth in Section 18.1. 
 “Existing Mortgagee” shall mean Wells Fargo Bank National Association, as Trustee for the registered holders of JP Morgan Chase
Commercial Mortgage Securities Corp. Pass-Through Certificates Series 2004-C-3, whose Master Servicer is Midland Loan Services, Inc. 
 “Expiration Date” shall mean the Fixed Expiration Date or such earlier or later date on which the Term sooner or later ends pursuant to any of the terms, conditions or covenants of this Lease or pursuant to law. 

“First Renewal Option” shall have the meaning set forth in Section 42.1. 
 “First Renewal Term” shall have the meaning set forth in Section 42.1. 
 “First Renewal Term Expiration Date” shall have the meaning set forth in Section 42.1. 
 “Government Authority (Authorities)” shall mean the United States of America, the State of New York, the City of New York, any political
subdivision thereof and any agency, department, commission, board, bureau or instrumentality of any of the foregoing, now existing or hereafter created, having jurisdiction over the Real Property or any portion thereof. 
 “HVAC” shall mean heat, ventilation and air conditioning. 
 “HVAC System” shall mean the Building Systems providing HVAC. 
 “HVAC
Work” shall have the meaning set forth in Section 45.3(A). 
 “Hazardous Materials” shall have the
meaning set forth in Section 9.2. 
 “Indemnitees” shall mean Landlord, its trustees, partners, shareholders,
officers, directors, employees, agents and contractors and the Manager (and the partners, shareholders, officers, directors and employees of Landlord’s agents and contractors and of the Manager). 
 “Initial Alterations” shall have the meaning set forth in Section 6.5. 
 “Installations” shall have the meaning set forth in Section 41.1. 
  

 7 

 “Land” shall mean the land known by the address of 345 Park Avenue South, New York, New
York. 
 “Landlord” on the date as of which this Lease is made, shall mean 345 PAS Owner, LLC, a Delaware limited liability
company, but thereafter, “Landlord” shall mean only the fee owner of the Real Property or, if there then exists a Superior Lease, the tenant thereunder. 
 “Landlord Performance Obligations” shall have the meaning set forth in Section 44.1. 
 “Landlord’s Maximum Determination” shall have the meaning set forth in Section 42.2. 
 “Landlord’s Operating Statement” shall mean a good faith statement containing a computation of Escalation Rent due pursuant to the provisions of Section 3.3 furnished by Landlord to Tenant. 
 “Landlord’s Statement” shall mean either a Landlord’s Operating Statement or a Landlord’s Tax Statement. 
 “Landlord’s Tax Statement” shall mean a good faith statement containing a computation of Escalation Rent due pursuant to the
provisions of Section 3.2 furnished by Landlord to Tenant. 
 “Landlord’s Work” shall have the meaning set
forth in Article 38. 
 “Laws” shall mean all present and future laws, rules, ordinances, regulations, statutes,
requirements, codes and executive orders, extraordinary as well as ordinary, retroactive and prospective, of all Government Authorities now existing or hereafter created, and of any applicable fire rating bureau, or other body exercising similar
functions, affecting the Real Property, or any street, avenue or sidewalk comprising a part or in front thereof or any vault in or under the same, or requiring removal of any encroachment, or affecting the maintenance, use or occupation of the Real
Property. 
 “Lessor(s)” shall mean a lessor under a Superior Lease. 
 “Manager” shall mean RFR Realty LLC, or any successor contractor under Landlord’s contract for the management of the Building.

 “Mortgage(s)” shall mean any mortgage which may now or hereafter affect the Real Property, the Building or any Superior
Lease and the leasehold interest created thereby, and all renewals, extensions, supplements, amendments, modifications, consolidations and replacements thereof or thereto, substitutions therefor, and advances made thereunder. 
 “Mortgagee(s)” shall mean any trustee under or mortgagee or holder of a Mortgage. 
 “Non-Disturbance Agreement” shall have the meaning set forth in Section 10.7. 
 “Notice(s)” shall have the meaning set forth in Section 27.1. 
  

 8 

 “Operating Expenses” shall have the meaning set forth in Section 3.1.

 “Operating Hours” shall mean 8:00 a.m. to 6:00 p.m. on Business Days. 
 “Operating Year” shall mean each calendar year that includes any part of the Term. 
 “Outside Demolition Date” shall have the meaning set forth in Section 45.5. 
 “Outside Elevator Work Date” shall have the meaning set forth in Section 45.6. 
 “Outside HVAC Date” shall have the meaning set forth in Section 45.5. 
 “Outside Lobby Work Date” shall have the meaning set forth in Section 45.6. 
 “Outside Restroom Work Date” shall have the meaning set forth in Section 45.5. 
 “Overtime Periods” shall have the meaning set forth in Section 28.2. 
 “Parties” shall have the meaning set forth in Section 39.2. 
 “Partnership Tenant” shall have the meaning set forth in Article 29. 
 “Person(s) or person(s)” shall mean any natural person or persons, a partnership, a corporation and any other form of business or legal
association or entity. 
 “Persons Within Tenant’s Control” shall mean and include Tenant, all of Tenant’s
respective principals, officers, agents, contractors, servants, employees, licensees and invitees. 
 “Qualifying Sublease”
shall have the meaning set forth in Section 15.8. 
 “Real Property” shall mean the Building and the Land.

 “Recapture Space” shall have the meaning set forth in Section 15.4. 
 “Recapture Sublease” shall have the meaning set forth in Section 15.4. 
 “Recapture Subtenant” shall have the meaning set forth in Section 15.4. 
 “Renewal Notice” shall have the meaning set forth in Section 42.1. 
 “Renewal Option” shall have the meaning set forth in Section 42.1. 
 “Rental” shall mean and be deemed to include Fixed Rent, Additional Rent and any other sums payable by Tenant hereunder. 
 “Requirements” shall mean (i) all Laws, (ii) all requirements, obligations and conditions of all instruments of record on the
date of this Lease, and (iii) all requirements, obligations and conditions imposed by the carrier of Landlord’s hazard insurance policy for the Building. 
  

 9 

 “Restroom Work” shall have the meaning set forth in Section 38.1(B). 

“Rules and Regulations” shall mean the rules and regulations annexed hereto as Schedule F, and such other reasonable
modifications and additions to same as Landlord and Landlord’s agents may from time to time adopt for the reputation, safety, care and appearance of the Real Property or the operation or maintenance thereof (provided such modifications and
additions shall not unreasonably interfere with the use of the Premises by Tenant in accordance with this Lease), on reasonable advance written notice to Tenant to be given in accordance with the terms of this Lease. To the extent that Tenant
disputes the reasonableness of any of such modifications and additions, either party may refer the dispute to the arbitration described in Section 39.22. 
 “Second Renewal Option” shall have the meaning set forth in Section 42.1. 
 “Second Renewal Term” shall have the meaning set forth in Section 42.1. 
 “Service
Bids” shall have the meaning set forth in Section 28.8. 
 “Soft Costs” shall have the meaning set
forth in Section 6.5. 
 “Specialty Installations” shall have the meaning set forth in
Section 6.1(C). 
 “Stairwell Work” shall have the meaning set forth in Section 38.1(G). 

“Sublease Additional Rent” shall have the meaning set forth in Section 15.5. 
 “Sublease or Assignment Statement” shall have the meaning set forth in Section 15.4. 
 “Substantially Completed” or “Substantial Completion” shall, whenever used in this Lease with respect to work to be
performed by Landlord, be deemed to mean that stage of the progress of such work as shall enable Tenant to have (a) the services to be provided to Tenant pursuant to Article 28 hereof, and (b) access to the Premises to commence
Tenant’s use and occupancy of the Premises (or to commence the Initial Alterations, in the case of Landlord’s Work) without any interference beyond a de minimis extent by reason of Landlord’s need to complete minor or
insubstantial details of construction or demolition. Within ten (10) Business Days after the date of this Lease, with respect to the 6th and 10th floors, and within ten (10) Business Days after work performed by Landlord
shall have been Substantially Completed, with respect to the 7th, 8th and 9th floors, Tenant
shall deliver to Landlord a punchlist of items of unfinished work required by this Lease to be performed by Landlord (“Tenant’s Punchlist”). Landlord shall diligently complete the unfinished items of work identified in
Tenant’s Punchlist. 
 Tenant acknowledges that an internal staircase presently exists between floors 7, 8 and 9. Tenant shall give
Landlord Notice not later than February 1, 2008 if Tenant wishes Landlord to remove such internal staircase and seal the penetrations in the slabs, in which event Landlord shall perform such work, at its expense, in accordance with the
provisions of Article 38, but such work shall not be required as a condition of Substantial Completion of the demolition described in Section 38.1(A) with respect to such floors. If Tenant fails to give Landlord Notice of such
election by such date Landlord shall not be obligated to perform such removal work. 
  

 10 

 “Superior Lease(s)” shall mean all ground or underlying leases of the Real Property or
the Building heretofore or hereafter made by Landlord and all renewals, extensions, supplements and modifications thereof. 
 “355
Lobby” shall have the meaning set forth in Section 45.3(B). 
 “355 Lobby Work” shall have the meaning
set forth in Section 45.4. 
 “Taxes” shall have the meaning set forth in Section 3.1. 

“Tax Year” shall mean each period of twelve (12) months, commencing on the first day of July of each year, that includes any
part of the Term, or such other period of twelve (12) months as may be duly adopted as the fiscal year for real estate tax purposes by the City of New York. 
 “Tenant”, on the date as of which this Lease is made, shall mean the Tenant named in this Lease, but thereafter “Tenant” shall mean only the tenant under this Lease at the time in question;
provided, however, that the Tenant named in this Lease and any successor tenant hereunder shall not be released from liability hereunder in the event of any assignment of this Lease. 
 “Tenant Delay” shall mean any actual delay beyond the anticipated completion date for the matter at issue that Landlord may encounter in
the performance of Landlord’s obligations under this Lease by reason of (i) any intentional act, negligence or omission (where there is a duty to act) of any nature of Tenant or Persons Within Tenant’s Control, including, without
limitation, delays due to changes in or additions to Landlord’s Work requested by Tenant or Tenant’s failure to timely submit information in accordance with the terms of this Lease or to timely give authorizations or approvals required to
be given by Tenant hereunder, or (ii) postponement of any Landlord’s Work at the request of Tenant. 
 “Tenant
Indemnitees” shall have the meaning set forth in Section 33.2. 
 “Tenant’s Minimum Determination”
shall have the meaning set forth in Section 42.2. 
 “Tenant’s Operating Payment” shall have the meaning
set forth in Section 3.3. 
 “Tenant’s Projected Operating Share” shall have the meaning set forth in
Section 3.3. 
 “Tenant’s Property” shall mean Tenant’s movable fixtures and movable partitions,
telephone and other equipment, furniture, furnishings and other movable items of personal property. 
 “Tenant’s Supplemental
A/C System” shall have the meaning set forth in Section 28.6. 
 “Tenant’s Tax Payment” shall have
the meaning set forth in Section 3.2. 
 “Unavoidable Delays” shall have the meaning set forth in Article
26. 
  

 11 

 “VNU” shall have the meaning set forth in Section 46.1. 
 “VNU Sublease” shall have the meaning set forth in Section 46.1. 
 ARTICLE 2 
 DEMISE, PREMISES, TERM, RENT 
 Section 2.1 Landlord hereby leases to Tenant and Tenant hereby hires from Landlord the Premises for the Term to commence, subject to Article 23,
on the applicable Commencement Date and to end on the Fixed Expiration Date, unless earlier terminated or extended as provided herein or pursuant to applicable Laws. Notwithstanding the foregoing, if any or all of the entire 7th, 8th or 9th floors shall become vacant and available prior to the expiration of the lease of such
portions of the Premises due to the default of the tenant of such space and Landlord’s successful eviction of such tenant, then Landlord may accelerate the Commencement Date for such portion of the Premises to an earlier date by giving Notice
thereof to Tenant, provided that (i) the accelerated Commencement Date shall not be earlier than 60 days after the date of such Notice to Tenant and (ii) in no event may the Commencement Date be accelerated to a date earlier than
January 1, 2008. If Landlord has accelerated the Commencement Date for such portion of the Premises in accordance with this Section 2.1 and collects damages attributable to Fixed Rent and Escalation Rent from the prior tenant of
such portion of the Premises for a period for which Tenant has also paid Fixed Rent and Escalation Rent for such portion of the Premises, Landlord (after recovering its expenses) shall pay Tenant the amount of such damages collected, up to the
amount paid by Tenant to Landlord for the corresponding period of time. 
 Tenant shall also have, as appurtenant to the Premises, the use,
on a non-exclusive basis and in common with the other tenants in the Building (and subject to Landlord’s Rules and Regulations), the common areas of the Building and the Land, including (i) the public lobby, public hallways and public
stairways, (ii) the public elevators and loading dock (if any), (iii) common walkways necessary for access to the Building, and (iv) all other parts of the Real Property made available by Landlord to all tenants in the Building.
Tenant, at its own risk and on a non-exclusive basis, may use the Building stairways between floors of the Premises solely to enable Tenant’s employees to access floors comprising the Premises, provided that such use by Tenant (x) complies
with all Laws, (y) does not disrupt or interfere with the proper and safe operation of the Building by Landlord and (z) does not interfere with the occupancy by other tenants of the Building. Tenant shall make its own security arrangements
relating to the use of such stairways, provided that it shall consult with Landlord regarding such arrangements and continue to afford Landlord access to the Premises and such stairways in accordance with the applicable provisions of this Lease. To
the extent any of Tenant’s floors are so-called “re-entry” floors, Tenant, at its expense, shall tie such floors into the Class E Systems. 
  

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 Section 2.2 Tenant shall pay to Landlord, in lawful money of the United States of America, without notice
or demand, by good and sufficient check drawn to the Landlord’s order on a bank or trust company with an office in the Borough of Manhattan, the City of New York, State of New York, or, at Tenant’s option, by wire transfer, at the office
of Landlord or at such other place as Landlord may designate from time to time, the following: 
 (A) commencing upon the Rent
Commencement Date for the applicable portion of the Premises, the Fixed Rent, as set forth in the Reference Page, which shall be payable in equal monthly installments of Fixed Rent in advance on the first day of each and every calendar month during
the Term; and 
 (B) commencing upon the Commencement Date, additional rent (“Additional Rent”) consisting of
all other sums of money (including, without limitation, Escalation Rent) as shall become due from and be payable by Tenant hereunder (for default in the payment of which Landlord shall have the same remedies as for a default in the payment of Fixed
Rent). Except as otherwise expressly provided in this Lease, all Additional Rent which is not a recurring, periodic payment shall be due within 30 days after written demand therefor. 
 Section 2.3 If the Rent Commencement Date is other than the first day of a calendar month, or the Expiration Date is other than the last day of a
calendar month, Fixed Rent for such month shall be prorated on a per diem basis based upon the number of days occurring in the calendar month in which the applicable Rent Commencement Date occurs or the calendar month in which the Expiration Date
occurs. 
 Section 2.4 Tenant shall pay the Fixed Rent and Additional Rent when due without abatement, deduction, counterclaim, setoff or
defense for any reason whatsoever, except such abatements, deductions, counterclaims, setoffs or defenses as may be occasioned by the occurrence of any event permitting same as specifically set forth in this Lease. 
 Section 2.5 With respect to the 7th, 8th and 9th floors, Landlord will give Tenant Notice at least five (5) Business Days in advance of the date when Landlord expects Landlord’s Work to be Substantially Completed, but Landlord shall not
incur any liability whatsoever to Tenant in the event Landlord’s Work is not Substantially Completed by such date, except as expressly provided in this Lease. 
 Section 2.6 Landlord shall submit to Tenant a written agreement, substantially in the form annexed as Schedule H, confirming the dates fixed by Landlord, in accordance with the provisions of this Lease, as the
Commencement Dates, the Rent Commencement Dates and the Fixed Expiration Date, and Tenant shall execute such agreement and return it to Landlord within ten (10) Business Days thereafter. Any failure of the parties to execute such written
agreement shall not affect the validity of the Commencement Dates, the Rent Commencement Dates or the Fixed Expiration Date as fixed and determined by Landlord as aforesaid. If Tenant disputes any Commencement Date, then Tenant must give Landlord
Notice of the nature of, and reasons for, such dispute within such ten (10) Business Day period. 
  

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 ARTICLE 3 
 ESCALATION 
 Section 3.1 For the purposes of this Article 3, the following terms shall have
the meanings set forth below: 
 (A) “Operating Expenses” shall mean the aggregate of those costs and
expenses (and taxes thereon, if any) calculated in accordance with sound real estate accounting practices, consistent with the type and amount of Operating Expenses customarily incurred by owners of other first-class office buildings in the vicinity
of the Building, and paid or incurred by Landlord or on behalf of Landlord, without duplication, with respect to the operation, cleaning, repair, safety, replacement, management, security and maintenance of the Real Property, Building Systems,
sidewalks, curbs, plazas, and other areas adjacent to the Building, and with respect to the services provided to tenants, including, without limitation: (i) salaries, wages and bonuses paid to, and the cost of any hospitalization, medical,
surgical, union and general welfare benefits (including group life insurance), any pension, retirement or life insurance plans and other benefits or similar expenses relating to employees of Landlord engaged in the operation, cleaning, repair,
safety, replacement, management, security or maintenance of the Real Property and the Building Systems or in providing services generally to tenants; (ii) social security, unemployment and other payroll taxes, the cost of providing disability
and worker’s compensation coverage imposed by any Laws, union contract or otherwise with respect to said employees; (iii) the cost of electricity, gas, oil, steam, water, sewer rental, HVAC and other utilities furnished to the Building and
utility taxes; (iv) the expenses incurred for casualty, rent, liability, fidelity, plate glass and any other insurance; (v) the cost of repairs, maintenance and painting, including the cost of acquiring or renting all supplies, tools,
materials and equipment used in operating or repairing the Building; (vi) expenditures, whether by purchase or lease, for capital improvements and capital equipment that under generally applied real estate practice are expensed or regarded as
deferred expenses and capital expenditures, whether by purchase or lease, that are made to comply with Laws first enacted or first becoming effective after the date of this Lease or for emergency or labor-saving devices or security or property
protection systems or in lieu of a repair, in each case such capital expenditures to be included in Operating Expenses for the Operating Year in which such costs are incurred and every subsequent Operating Year, on a straight-line basis, to the
extent that such items are amortized over their useful lives, determined in accordance with generally accepted accounting principles, consistently applied, with interest calculated at an annual rate equal to the Base Rate in effect at the time of
Landlord’s having made said expenditure plus 1% per annum; (vii) the cost or rental of all supplies, tools, materials and equipment; (viii) the cost of uniforms, work clothes and dry cleaning; (ix) the cost of window
cleaning, janitorial, concierge, guard, watchman or other security personnel, service or system, if any; (x) management fees; (xi) charges of independent contractors performing work included within this definition of Operating Expenses;
(xii) telephone and stationery costs; (xiii) legal, accounting and other professional fees and disbursements incurred in connection with the operation and management of the Real Property; (xiv) association fees and dues; (xv) the
cost of seasonal decorations (but not permanent works of art); (xvi) depreciation of hand tools and other movable equipment used in the operation, cleaning, repair, safety, management, security or maintenance of the Building; and
(xvii) exterior and interior landscaping. 
 Notwithstanding the foregoing, Operating Expenses shall exclude or have deducted from them,
as the case may be: 
 (1) executives’ salaries and benefits above the grade of building manager; 
  

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 (2) any expense for which (a) Landlord is otherwise compensated through the proceeds
of insurance, (b) Landlord would have been compensated through the proceeds of insurance had Landlord maintained the required insurance pursuant to Section 12.6, or (c) Landlord is reimbursed or entitled to be reimbursed from
Tenant or other third parties, other than pursuant to provisions similar in nature to this Article 3; 
 (3) cost of
repairs or replacements or restoration incurred by reason of fire or other casualty or condemnation, except that the amount of any reasonable deductible paid by Landlord may be included in Operating Expenses; 
 (4) costs incurred in performing work or furnishing services or utilities for any tenant (including for services during Overtime Periods),
whether at such tenant’s or Landlord’s expense, to the extent that such work or service is in excess of any work or service (or the level of any work or service) or utilities that Landlord is obligated to furnish to Tenant at
Landlord’s expense; 
 (5) Taxes; 
 (6) financing or refinancing costs and mortgage interest and mortgage amortization payments, all penalties, fines and damages payable
under any Mortgage and legal and other professional fees incurred in connection with such financing or refinancing; 
 (7)
leasing commissions, brokerage commissions, entertainment expenses, rental concessions and lease buy-outs; 
 (8) amortization
and depreciation, except as otherwise specifically provided in clauses (vi) and (xvi) above and in the first paragraph (unnumbered) following this list of exclusions; 
 (9) amounts paid to affiliates of Landlord for services to the extent that such costs exceed the costs of such services were they not
rendered by an affiliate of Landlord; 
 (10) rental under any Superior Lease, other than rental in the nature of an Operating
Expense, as described in this Article 3, and all penalties, fines and damages payable under any Superior Lease; 
 (11)
professional fees (including legal and accounting fees) not allocated to the operation or management of the Real Property and professional fees (including legal and accounting fees) allocable to disputes with, or preparation of leases for, tenants
and prospective tenants or in enforcing any lease or in renewing, extending or amending any lease for a tenant in the Building; 
 (12) advertising and marketing and promotional expenses with respect to the Real Property; 
  

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 (13) the costs of electricity furnished to rentable areas of the Building based upon the
consumption shown on tenant meters or submeters and the rates charged by the electric service provider; 
 (14) the cost of
any demolition, alterations, additions, changes, replacements, improvements and construction to prepare space for occupancy by a new tenant (including Tenant) or made to the Building solely for the benefit of a new tenant or to renovate space for an
existing tenant, including, without limitation, Landlord’s Work (except as provided below), and any cash contributions or allowances with respect thereto; 
 (15) costs incurred with respect to a sale of all or any portion of the Building or the Land or any interest therein or of any interest in
Landlord or any entity comprising Landlord; 
 (16) to the extent any cost is includable in Operating Expenses and incurred
with respect to both the Building and other properties (including, without limitation, salaries, fringe benefits and other compensation of Landlord’s personnel who provide services to both the Building and other properties), there shall be
excluded from Operating Expenses a fair and reasonable percentage thereof which is properly allocable to such other properties; 
 (17) the cost of the acquisition of the Land or the construction of improvements to the Building in connection with an expansion thereof; 
 (18) cost of repairs or other work occasioned by the exercise of the right of eminent domain; 
 (19) costs incurred to clean up, contain, abate, remove or otherwise remediate Hazardous Materials from the Real Property; 
 (20) any compensation paid to clerks, attendants, or other persons engaged in commercial concessions operated by Landlord for profit; 
 (21) costs or expenses associated with the operation of the business of the entity which constitutes Landlord, such as the formation of the entity, internal accounting and legal matters; 
 (22) costs of acquiring, leasing, restoring, removing, or replacing any permanent works of art (as distinct from seasonal or other
decorations); 
 (23) franchise, transfer, inheritance, estate, occupancy, succession, gift, corporation, unincorporated
business, gross receipts, excise, profits or income taxes imposed by Landlord; 
 (24) lease payments for rented equipment,
the cost of which would constitute a capital expenditure if the equipment were purchased, except to the extent provided in this Article 3; 
  

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 (25) the cost of any judgment, settlement or arbitration award resulting from any
liability of Landlord (other than a liability for amounts otherwise includable in Operating Expenses hereunder) and all expenses incurred in connection therewith; 
 (26) any interest, fine, penalty or other late charge payable by Landlord incurred as a result of late payments; 
 (27) costs incurred by Landlord which result from Landlord’s breach of this Lease or Landlord’s negligence or willful
misconduct; 
 (28) management fees that are in excess of the then prevailing market rate for comparable office buildings in
the vicinity of the Building; 
 (29) costs incurred to remedy any violation of Requirements; 
 (30) costs and expenses incurred by Landlord in indemnifying the Tenant Indemnitees; and 
 (31) the cost to provide any service customarily provided by a managing agent to the extent that such cost is customarily included in
management fees and not included as a separate line item in an operating expense escalation (such as bookkeeping or accounting costs). 
 If
Landlord purchases any item of capital equipment or makes any capital expenditure (including Landlord’s Work) that is intended to have the effect of reducing the expenses that would otherwise be included in Operating Expenses, then the costs of
such capital equipment or capital expenditure shall be included in Operating Expenses for the Operating Year in which the costs are incurred and every subsequent Operating Year on a straight-line basis, to the extent that such items are amortized
over their useful lives, determined in accordance with generally accepted accounting principles, consistently applied, with interest calculated at the Base Rate in effect at the time of Landlord’s having made said expenditure plus 1% per
annum. If Landlord leases any item of capital equipment designed to result in savings or reductions in expenses that would otherwise be included in Operating Expenses, then the rentals and other costs paid with respect to such leasing shall be
included in Operating Expenses for the Operating Years in which such rentals and costs are incurred. Notwithstanding the provisions of this paragraph, the maximum amount that may be included in any Operating Year for any such capital equipment or
capital expenditure shall be the amount of savings realized by such capital equipment or capital expenditure. To the extent that the amount of such savings is less than the amortized cost plus interest in any one Operating Year, Landlord shall
include in subsequent Operating Years until fully recovered the amount not included in an Operating Year by reason of such limitation (provided that such limitation is not exceeded in any subsequent Operating Year). 
 If Landlord is not furnishing any particular work or service (the cost of which if performed by Landlord would constitute an Operating Expense) to a
tenant who has undertaken to perform such work or service in lieu of the performance thereof by Landlord for all or any portion of an Operating Year (including any Operating Year used to compute a Base Operating 

  

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Factor), Operating Expenses for such Operating Year shall be deemed to be increased by an amount equal to the additional Operating Expenses which reasonably
would have been incurred during such Operating Year by Landlord if it had, at its own expense, furnished such work or service to such tenant. 
 (B) “Taxes” shall mean the aggregate amount of real estate taxes and any general or special assessments (exclusive of penalties and interest thereon) imposed upon the Real Property (including, without
limitation, (i) assessments made upon or with respect to any “air” and “development” rights now or hereafter appurtenant to or affecting the Real Property, (ii) any fee, tax or charge imposed by any Government Authority
for any vaults, vault space or other space within or outside the boundaries of the Real Property not used by and paid for by one or more specified tenants, and (iii) any assessments levied after the date of this Lease for public benefits to the
Real Property or the Building, including BID Charges (as hereinafter defined); provided that if, because of any change in the taxation of real estate, any other tax or assessment, however denominated (including, without limitation, any franchise,
income, profit, sales, use, occupancy, gross receipts or rental tax) is imposed upon Landlord or the owner of the Real Property or the Building, or the occupancy, rents or income therefrom, in substitution for any of the foregoing Taxes or for an
increase in any of the foregoing Taxes, such other tax or assessment shall be deemed part of Taxes computed as if Landlord’s sole asset were the Real Property. With respect to any Tax Year, all expenses, including customary attorneys’ fees
and disbursements and reasonable experts’ and other witnesses’ fees, incurred in contesting the validity or amount of any Taxes or in obtaining a refund of Taxes shall be considered as part of the Taxes for such Tax Year. Anything
contained herein to the contrary notwithstanding, Taxes shall not be deemed to include (a) any taxes on Landlord’s income, or profit or corporate taxes, (b) franchise taxes, (c) estate, inheritance, succession, capital stock,
gains, transfer or gift taxes, or (d) any similar taxes imposed on Landlord, except to the extent such taxes are levied, assessed or imposed as a substitute for the whole or any part of, or as a substitute for an increase in, the taxes,
assessments, levies, fees, charges and impositions that now constitute Taxes. In no event shall Taxes include any interest or penalties incurred as a result of Landlord’s late payment of Taxes. 
 (C) “BID Charges” shall mean business improvement district charges imposed on the Building and/or the Land, and any
expenses incurred by Landlord in contesting the same. 
 Section 3.2 
 (A) Tenant shall pay as Escalation Rent for each Tax Year, an amount (“Tenant’s Tax Payment”) equal to Tenant’s
Share of the amount by which the Taxes for such Tax Year are greater than the Base Tax Factor. Tenant’s Tax Payment shall be payable by Tenant to Landlord in twelve (12) equal monthly installments (subject to the further provisions of this
Section 3.2), the first of which shall be due within thirty (30) days after receipt of a Landlord’s Tax Statement, regardless of whether such Landlord’s Tax Statement is received prior to, on or after the first day of such
Tax Year and the remaining installments shall be due on the first day of each month thereafter. If there is any increase in Taxes for any Tax Year, whether during or after such Tax Year, or if there is any decrease in the Taxes for any Tax Year
during such Tax Year, Landlord may furnish a revised Landlord’s Tax Statement for any Tax Year affected, and Tenant’s Tax 

  

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Payment for such Tax Year shall be adjusted and, (a) within thirty (30) days after Tenant’s receipt of such revised Landlord’s Tax
Statement, Tenant shall (with respect to any increase in Taxes for such Tax Year) pay the appropriate increase in Tenant’s Tax Payment to Landlord, or (b) (with respect to any decrease in Taxes for such Tax Year) Landlord shall, at its
election, either credit such decrease in Tenant’s Tax Payment against the next installment(s) of Rental payable by Tenant until fully applied or refund the amount of such decrease by check to the order of Tenant or, if at the end of the Term,
there shall not be any further installments of Rental remaining against which Landlord can credit any decrease in Taxes due Tenant, Landlord shall deliver to Tenant Landlord’s check in the amount of the refund due Tenant within thirty
(30) days after Landlord’s receipt of any refund. If, during the Term, Taxes are required to be paid (either to the appropriate taxing authorities or as tax escrow payments to the Lessor or the Mortgagee), in full or in quarterly or other
installments on any other date or dates than as presently required, then Tenant’s Tax Payments shall be correspondingly accelerated or revised so that Tenant’s Tax Payments are due at least thirty (30) days prior to the date payments
are due to the taxing authorities, the Lessor or the Mortgagee. 
 (B) Only Landlord shall be eligible to institute tax
reduction or other proceedings to reduce Taxes, which Landlord shall institute for each Tax Year during the Term so long as Landlord determines there is a reasonable basis therefor. Tenant shall have the right to submit to an expedited arbitration
proceeding pursuant to Section 39.22 the issue of whether there is a reasonable basis to institute tax reduction or other proceedings to reduce Taxes in cases where Landlord has determined there is no reasonable basis to do so. Landlord
shall advise Tenant after Landlord shall have instituted any such proceeding or shall respond to Tenant’s inquiry with respect thereto. If, after a Landlord’s Tax Statement has been sent to Tenant, a refund of Taxes is actually received by
or on behalf of Landlord, then, promptly after receipt of such refund, Landlord shall send Tenant a Landlord’s Tax Statement adjusting the Taxes for such Tax Year (taking into account Landlord’s expenses therefor) and setting forth
Tenant’s Share of such refund, and Tenant shall be entitled to receive such amount by way of a credit against the next installment(s) of Rental until fully applied or by a refund if at the end of the Term; provided, however, that Tenant’s
Share of such refund shall be limited to the amount of Tenant’s Tax Payment, which Tenant had theretofore paid to Landlord attributable to increases in Taxes for the Tax Year to which the refund is applicable. 
 (C) Tenant’s Tax Payment and any credits with respect thereto as provided in this Section 3.2 shall be made as provided
in this Section 3.2 regardless of the fact that Tenant may be exempt, in whole or in part, from the payment of any taxes by reason of Tenant’s diplomatic or other tax exempt status or for any other reason whatsoever. 
 (D) Tenant shall pay to Landlord within thirty (30) days after demand as Additional Rent any occupancy tax or rent tax now in effect
or hereafter enacted, if payable by Landlord in the first instance or hereafter required to be paid by Landlord. 
 (E) Each
Landlord’s Tax Statement furnished by Landlord with respect to Tenant’s Tax Payment shall be accompanied by a copy of the real estate tax bill or bills for the Tax Year referred to therein, but Landlord shall have no obligation to deliver
more than one such copy of the real estate tax bill or bills in respect of any Tax Year. 
  

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 (F) If the Base Tax Factor subsequently shall be adjusted, corrected or reduced whether
as the result of protest, by means of agreement or as the result of legal proceedings, the Base Tax Factor for the purpose of computing any Additional Rent payable pursuant to this Article shall be the Base Tax Factor as so adjusted, corrected or
reduced. Until the Base Tax Factor is so adjusted, corrected or reduced, if ever, Tenant shall pay Additional Rent hereunder based upon the unadjusted, uncorrected or unreduced Base Tax Factor and upon such adjustment, correction or reduction
occurring, any Additional Rent payable by Tenant prior to the date of such occurrence shall be recomputed and Tenant shall pay to Landlord any Escalation Rent found due by such recomputation within thirty (30) days after being billed therefor
(which bill shall set forth in reasonable detail the pertinent data causing and comprising such recomputation). 
 (G) If the
Commencement Date or the Expiration Date occurs on a date other than July 1 or June 30, respectively, any Tenant’s Tax Payment under this Article 3 for the Tax Year in which such Commencement Date or Expiration Date occurs
shall be apportioned in that percentage which the number of days in the period from the Commencement Date to June 30 or from July 1 to the Expiration Date, as the case may be, both inclusive, bears to the total number of days in such Tax
Year. If the Commencement Date or the Expiration Date occurs on a date other than January 1 or December 31, respectively, any Tenant’s Operating Payment under this Article 3 for the Operating Year in which such Commencement
Date or Expiration Date occurs shall be apportioned in that percentage which the number of days in the period from the Commencement Date to December 31 or from January 1 to the Expiration Date, as the case may be, both inclusive, bears to
the total number of days in such Operating Year. In the event of a termination of this Lease, any Escalation Rent under this Article 3 shall be paid or adjusted within thirty (30) days after submission of a Landlord’s Statement. In
no event shall Fixed Rent ever be reduced by operation of this Article 3 and the rights and obligations of Landlord and Tenant under the provisions of this Article 3 with respect to any Escalation Rent shall survive the Expiration
Date. 
 Section 3.3 
 (A) Tenant shall pay as Escalation Rent for each Operating Year an amount (“Tenant’s Operating Payment”) equal to Tenant’s Share of the amount by which Operating Expenses for such Operating Year are greater than
the Base Operating Factor. 
 (B) Landlord shall furnish to Tenant, with respect to each Operating Year, a Landlord’s
Operating Statement setting forth Landlord’s estimate of Tenant’s Operating Payment for such Operating Year (“Tenant’s Projected Operating Share”). Landlord shall use commercially reasonable efforts to furnish
Tenant’s Projected Operating Share to Tenant during the first calendar quarter of each Operating Year. In addition, upon Tenant’s request, Landlord shall keep Tenant apprised in December of each year of Landlord’s estimate of
Tenant’s Projected Operating Share for the following year, without any liability to Tenant. Tenant’s Projected Operating Share shall not exceed 110% of Tenant’s Operating Payment for the prior Operating Year unless Landlord becomes
aware of (and advises Tenant in writing) of an anticipated and extraordinary increase in one or more categories of Operating Expenses (such as insurance premiums). Tenant shall pay to Landlord on the first day of each month during such 

  

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Operating Year, as Escalation Rent, an amount equal to one-twelfth of Tenant’s Projected Operating Share for such Operating Year. If, however, Landlord
furnishes any such Landlord’s Operating Statement for an Operating Year subsequent to the commencement of such Operating Year, then (a) until the first day of the month following the month in which such Landlord’s Operating Statement
is furnished to Tenant (but in no event less than thirty (30) days), Tenant shall pay to Landlord on the first day of each month an amount equal to the monthly sum payable by Tenant to Landlord under this Section 3.3 in respect of
the last month of the preceding Operating Year; (b) after such Landlord’s Operating Statement is furnished to Tenant or together therewith, Landlord shall give Notice to Tenant stating whether the installments of Tenant’s Projected
Operating Share previously made for such Operating Year were greater or less than the installments of Tenant’s Projected Operating Share to be made for such Operating Year in accordance with such estimate, and (i) if there is a deficiency,
Tenant shall pay the amount thereof within thirty (30) days after demand therefor, or (ii) if there was an overpayment, Landlord shall credit the amount thereof against subsequent payments of Rental until fully applied or, if at the end of
the Term there shall not be any further installments of Rental remaining against which Landlord can credit any such overpayment due Tenant, Landlord shall deliver to Tenant Landlord’s check in the amount of the refund due Tenant within thirty
(30) days after Tenant shall first be entitled to a credit for the overpayment of Operating Expenses; and (c) on the first day of the month following the month in which such Landlord’s Operating Statement is furnished to Tenant (but
in no event less than thirty (30) days), and monthly thereafter throughout the remainder of such Operating Year, Tenant shall pay to Landlord an amount equal to one-twelfth of Tenant’s Projected Operating Share shown in such
Landlord’s Operating Statement. Landlord may furnish to Tenant a revised Landlord’s Operating Statement with a new estimate of Tenant’s Projected Operating Share for such Operating Year and, in such case, Tenant’s Projected
Operating Share for such Operating Year shall be adjusted and paid or credited, as the case may be, substantially in the same manner as provided in the preceding sentence. 
 (C) Within 180 days after the end of each Operating Year, Landlord shall endeavor to furnish to Tenant a Landlord’s Operating
Statement for such Operating Year. Each such year-end Landlord’s Operating Statement shall be accompanied by a computation of Operating Expenses for the Building prepared by the Manager (after consultation with a certified public accountant) or
by a certified public accountant designated by Landlord from which Landlord shall make the computation of Escalation Rent due in respect of Operating Expenses hereunder. In making computations of Operating Expenses, the certified public accountant
or the Manager may rely on Landlord’s reasonable estimates and allocations whenever said estimates and allocations are needed for this Article 3. If the Landlord’s Operating Statement shows that the sums paid by Tenant under
Section 3.3(B) exceeded Tenant’s Operating Payments required to be paid by Tenant for such Operating Year, Landlord shall credit the amount of such excess against subsequent payments of Rental until fully applied or, if at the end
of the Term there shall not be any further installments of Rental remaining against which Landlord can credit any such overpayments due Tenant, Landlord shall deliver to Tenant Landlord’s check in the amount of the refund due Tenant within
thirty (30) days after Tenant shall first be entitled to a credit for the overpayment of Operating Expenses; and if the Landlord’s Operating Statement for such Operating Year shows that the sums so paid by Tenant were less than
Tenant’s Operating 

  

 21 

 
Payment due for such Operating Year, Tenant shall pay the amount of such deficiency within thirty (30) days after demand therefor. 
 (D) Upon the occurrence of the Commencement Date for floors 7, 8 and 9, Landlord, at Tenant’s request, shall discuss with Tenant its
concerns, ideas and recommendations relating to services in the Building and the budgeting therefor. Tenant acknowledges, however, that Landlord shall have no obligation to accept any of such recommendations and that Landlord shall be the final
decision maker with respect to any of such matters and that, as a condition of implementing any of such recommendations which increases Operating Expenses, Landlord may request that Tenant pay any incremental cost. 
 Section 3.4 Landlord’s failure to render any Landlord’s Statement with respect to any Tax Year or Operating Year shall not prejudice
Landlord’s right thereafter to render a Landlord’s Statement with respect thereto or with respect to any subsequent Tax Year or Operating Year, as the case may be, nor shall the rendering of a Landlord’s Statement prejudice
Landlord’s right thereafter to render a corrected Landlord’s Statement for that Tax Year or Operating Year. Notwithstanding the foregoing, if Landlord shall have failed to render a Landlord’s Statement with respect to any Tax Year or
Operating Year within two (2) years after the end of such Tax Year or such Operating Year, or within two (2) years after the expiration or sooner termination of this Lease, whichever is sooner, then Landlord shall have waived its right to
send any such Landlord Statement or otherwise further bill Tenant for that particular Operating Year or Tax Year. In addition, Landlord shall not be permitted to revise a Landlord’s Operating Statement after such two-year period with respect to
a prior Operating Year. 
 Section 3.5 Any Landlord’s Statement sent to Tenant shall be conclusively binding upon Tenant unless, within
180 days after such Landlord’s Statement is sent, Tenant shall send Notice to Landlord objecting to such Landlord’s Statement and specifying, to the extent reasonably practicable, the respects in which such Landlord’s Statement is
disputed, provided that, with respect to Landlord’s Statement for the Base Operating Factor for the 6th and
10th floors only, Tenant has until the 180th day after the date Tenant receives the Landlord’s Statement for the 2007 Operating Year to object to Landlord’s Statement for such Base Operating
Factor. If Tenant shall send such notice with respect to a Landlord’s Operating Statement, Tenant may, at its own expense, select an auditor which is an independent certified public accountant, who or which is not being compensated by Tenant,
in whole or in part, on a contingency basis (an “Approved Examiner”), provided that such Approved Examiner is not and has not during the Term been affiliated with, a shareholder in, an officer, director, partner, or employee of, any
Manager during the Term or the Manager named in this Lease, and such Approved Examiner may examine Landlord’s books and records relating solely to disputed aspects of the Operating Expenses to determine the accuracy of Landlord’s Operating
Statement. Tenant recognizes the confidential nature of Landlord’s books and records and agrees that information obtained by it or an Approved Examiner during any examination (including any compromise, settlement or adjustment relating to the
results of such examination) shall be maintained in strict confidence by Tenant and such Approved Examiner. As a condition precedent to Tenant’s exercise of its right to examine Landlord’s books and records, Tenant shall deliver to
Landlord a confidentiality agreement, reasonably satisfactory to Landlord (but containing commercially reasonable and standard exceptions to confidentiality), from the Approved Examiner to the same effect as 

  

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Tenant’s agreement contained in the preceding sentence. If, after such examination, such Approved Examiner shall dispute such Landlord’s Operating
Statement, either party may refer the decision of the issues raised to a reputable independent firm of certified public accountants not affiliated or having had worked for Landlord or Tenant or their respective affiliates within the prior three year
period, selected by Landlord and approved by Tenant, which approval shall not be unreasonably withheld, conditioned or delayed, and the decision of such accountants shall be conclusively binding upon the parties. The fees and expenses involved in
resolving such dispute shall be borne by the unsuccessful party (and if both parties are partially unsuccessful, the accountants shall apportion the fees and expenses between the parties based upon the degree of success of each party).
Notwithstanding the giving of such Notice by Tenant, and pending the resolution of any such dispute, Tenant shall pay to Landlord when due the amount shown on any such Landlord’s Statement, as provided in this Article 3. 
 Section 3.6 In determining the amount of the Base Operating Factor and Operating Expenses, if less than 95% of the Building’s rentable area shall
have been occupied by tenant(s) at any time during the applicable base Operating Year or any subsequent Operating Year, Operating Expenses, for the purposes of the Base Operating Factor and for any such subsequent Operating Year, shall be adjusted
to the amount which would normally be expected to be incurred had 95% of all such areas been occupied throughout the applicable base Operating Year or any subsequent Operating Year. The provisions of this paragraph with respect to adjustments of
Operating Expenses for vacancy, shall apply only to Operating Expenses which are variable and which increase in the same relationship to the increase in occupancy in the Building and shall not apply to any Operating Expenses which do not vary with
the level of occupancy in the Building. 
 ARTICLE 4 
 ELECTRICITY 
 Section 4.1 Tenant shall at all times comply with the rules, regulations, terms and
conditions applicable to service, equipment, wiring and requirements of the public utility supplying electricity to the Building. Tenant agrees that at no time will the electrical connected load in the Premises exceed in the aggregate six
(6) watts per rentable square foot, exclusive of the HVAC System. Upon Tenant’s request and at Tenant’s expense, Landlord shall cooperate with Tenant if Tenant wishes to obtain from the electric service provider for the Building
additional electrical power for the Premises, so long as such additional electrical power is reasonably required for Tenant to conduct its business in the Premises. If the electric service provider to the Building requires that Tenant use the
electrical capacity available in the Building (if any) for Tenant’s additional electrical requirements, Landlord will then permit such use, provided that Tenant consults with Landlord’s engineer, at Tenant’s cost, in connection with
Tenant’s electrical design and distribution for the Premises. If Landlord, for any reason, subsequently requires such additional Building electrical capacity made available by Landlord to Tenant, Landlord, at Tenant’s cost, shall obtain
for the Building from the electric service provider the same additional amount of additional electrical capacity made available by Landlord to Tenant. Tenant shall reimburse Landlord, if required, for the installation of any additional

  

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risers or other equipment to enable Landlord to continue to furnish adequate electrical power throughout the Building. Landlord shall have no liability to
Tenant if either Landlord or Tenant is unable to obtain any additional electric power requested by Tenant. Tenant shall not, without Landlord’s prior written consent in each instance, not to be unreasonably withheld, conditioned or delayed,
connect any fixtures, machinery, appliances or equipment to the Building electric distribution system or make any alteration or addition to Tenant’s machinery, appliances or equipment, or the electric system of the Premises, if the effect
thereof would be to increase the electrical load in the Premises over the load specified in this Section 4.1, as such load may have been increased in accordance with the provisions of this Section 4.1. Should Landlord grant
such consent, all additional risers or other equipment required therefor shall be provided by Landlord and the reasonable cost thereof shall be paid by Tenant within 30 days after Landlord’s demand. Landlord shall not be liable in any way to
Tenant for any interruption or failure or defect in the supply or character of electric service furnished to the Premises or for any loss, damage or expense Tenant may sustain if either the quantity or character of electric service is changed or is
no longer suitable for Tenant’s requirements, whether by reason of any requirement, act or omission of the public utility serving the Building or for any other reason, other than the negligence or willful misconduct of Landlord or its agents.

 Section 4.2 (A) As of the Commencement Date, electricity shall be furnished by Landlord to the Premises, and Tenant shall pay to Landlord,
as Additional Rent for such service (including the electricity used to service any HVAC units providing HVAC solely to the Premises and any water heaters installed by Landlord providing hot water to the Premises), the amounts (the
“Electricity Additional Rent”), as determined by one or more submeters purchased and installed by Landlord, at Landlord’s expense (but maintained, repaired and replaced by Landlord, at Tenant’s cost, which cost shall be
equal to Landlord’s reasonable, out-of-pocket costs), at charges, terms and rates, applied to the monthly readings on each such meter or submeter, as set from time to time during the Term by the public utility serving the Building based upon
the average rate per kilowatt hour payable by Landlord to the public utility for the electricity furnished to the Building during the applicable billing period (computed by dividing the electricity bill for the Building for such period by the total
kilowatt hours on such bill), plus an amount equal to four (4%) percent thereof to reimburse Landlord for administrative services in connection with supplying and billing such electricity and for line loss. As each Commencement Date occurs,
Tenant may cause a survey to be performed by an independent electrical consultant reasonably acceptable to Landlord to ensure that the submeters measuring Tenant’s consumption of electricity in such portion of the Premises are not measuring
electricity to operate equipment not located within or exclusively serving the Premises. Landlord shall grant access to the applicable electrical closets necessary for Tenant to conduct such survey upon reasonable prior notice at reasonable times.
If the results of such survey indicate that the submeters have been measuring electricity to operate equipment not located within or exclusively serving the Premises, then (i) any prior bills for the Electricity Additional Rent shall be
appropriately adjusted and Landlord shall credit against Tenant’s next installments of Rental due hereunder any amounts overpaid by Tenant on account of such inaccurate billing of Electricity Additional Rent, and (ii) Landlord shall
reimburse Tenant for Tenant’s costs to perform such survey. 
  

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 (B) Bills for the Electricity Additional Rent shall be rendered to Tenant monthly, and
Tenant shall pay the amount shown thereon to Landlord within thirty (30) days after the rendering of such bill. 
 (C)
Wherever reference is made in this Article to rate(s) or charge(s) of the public utility supplying electricity to the Building or to increases in such rates or charges, the words rates or charges shall be deemed to include without limitation, any
and all (including any new or additional) (i) kilowatt hours or energy charge; (ii) kilowatts of demand charge; (iii) fuel adjustment charge; (iv) transfer adjustment charge; (v) utility tax; (vi) sales tax; and
(vii) any and all other charges and taxes required to be paid by Landlord to the utility company. 
 Section 4.3 Tenant, at
Tenant’s option, shall purchase from Landlord all lighting tubes, lamps, bulbs and ballasts used in the Premises, and Tenant shall pay to Landlord Landlord’s reasonable charges for providing and installing the same, as Additional Rent.

 Section 4.4 Landlord shall have the right, in its sole discretion, to select any entity or entities which it desires to have as the
electrical service provider to the Building (including the Premises), and Tenant shall not have the right to select the same or participate in the selection of the same, except and to the extent that any Laws mandate that Tenant have any such
right(s). Any such new electric service provider shall charge electric rates that are competitive with the then existing electric service provider to the Building. 
 Section 4.5 Landlord reserves the right to discontinue furnishing electric energy to the Premises at any time upon not less than 120 days notice to Tenant provided that Landlord shall not exercise such right unless it
discontinues furnishing electricity to all of the office space in the Building and until Tenant, acting diligently, shall be able to obtain electric energy directly from the electric service provider for the Building. Landlord shall cooperate with
Tenant in such efforts. If Landlord exercises such right of termination, this Lease shall continue in full force and effect and shall be unaffected thereby, except only that, from and after the effective date of such discontinuance, Landlord shall
not be obligated to furnish electric energy to Tenant. If Landlord voluntarily discontinues furnishing electric energy to Tenant, Landlord shall, prior to the effective date of such discontinuance, at Landlord’s expense, make such changes in
panel boards, feeders, risers, wiring and other conductors and equipment to the extent required to permit Tenant to obtain electric energy directly from the electric service provider for the Building. If, on the other hand, Landlord is required by
any Laws to discontinue furnishing electric energy to Tenant, Tenant shall reimburse Landlord promptly upon demand for one-half of the cost incurred by Landlord in making such changes in panel boards, feeders, risers, wiring and other conductors and
equipment in order to permit Tenant to obtain electric energy directly from the electric service provider for the Building. In either case Tenant may use all of such panel boards, feeders, risers, wiring and other conductors and equipment to obtain
electric energy directly. 
  

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 ARTICLE 5 
 USE AND OCCUPANCY 
 Section 5.1 Tenant shall use and occupy the Premises for the Permitted Use and
for no other purpose. 
 Section 5.2 Tenant shall not use the Premises or any part thereof, or permit the Premises or any part thereof to be
used, (1) for the business of photographic, multilith or multigraph reproductions or offset printing (other than those which are ancillary to an otherwise Permitted Use), (2) for an off-the-street retail commercial banking, thrift
institution, loan company, trust company, depository or safe deposit business accepting deposits from the general public, (3) for the off-the-street retail sale of travelers checks, money orders, drafts, foreign exchange or letters of credit or
for the receipt of money for transmission, (4) by the United States government, the City or State of New York, any foreign government, the United Nations or any agency or department of any of the foregoing having or asserting sovereign
immunity, (5) except as otherwise expressly provided in this Lease, for the preparation, dispensing or consumption of food or beverages in any manner whatsoever, except for the preparation, dispensing and consumption of food by Tenant’s
employees who work in the Premises and Tenant’s invitees (but not invitees who are invitees solely for the consumption or purchase of food or beverages unrelated to any other business with Tenant) and not for the sale of food to any Persons
other than such employees and invitees, (6) as an employment agency, day-care facility, labor union, school, or vocational training center (except for the training of employees of Tenant intended to be employed at the Premises and for seminars
conducted by Tenant for investors, potential investors, employees and other business professionals), (7) as a barber shop, beauty salon or manicure shop, (8) for product display activities (such as those of a manufacturer’s
representative), (9) as offices of any public utility company, (10) for data processing activities (other than those which are ancillary to an otherwise Permitted Use), (11) for health care activities, (12) for clerical support
services or offices of public stenographers or typists (other than those which are ancillary to an otherwise Permitted Use), (13) as reservation centers for airlines or travel agencies, (14) for retail or manufacturing use, (15) as
studios for radio, television or other media, (16) for offices for a real estate brokerage firm or (17) for any obscene or pornographic purpose or any sort of commercial sex establishment or for exhibition to the public of any obscene or
pornographic materials. For purposes of the preceding clause (17), “pornographic” shall mean that the material or purpose has prurient appeal or relates, directly or indirectly, to lewd or prurient sexual activity and “obscene”
shall have the meaning ascribed thereto in New York Penal Law Section 235.00. Furthermore, the Premises shall not be used for any purpose that would, in Landlord’s reasonable judgment, tend to lower the first-class character of the
Building, create unreasonable or excessive elevator or floor loads, violate the certificate of occupancy of the Building, impair or interfere with any of the Building operations or the proper and economic heating, air-conditioning, cleaning or any
other services of the Building, interfere with the use of the other areas of the Building by any other tenants, or impair the appearance of the Building. 
  

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 ARTICLE 6 
 ALTERATIONS 
 Section 6.1 
 (A) Tenant, upon Notice to but without obtaining Landlord’s consent, may make Alterations which (i) do not affect any structural
or mechanical portion of the Building or Building Systems and (ii) are of a decorative nature such as painting, carpeting, wall covering, and the like (a “Decorative Alteration”). Tenant shall not make or permit to be made any
other Alterations without Landlord’s prior written consent, which consent shall not be unreasonably withheld, conditioned or delayed, provided that (1) the outside appearance of the Building shall not be affected; (2) the strength of
the Building shall not be affected; (3) the structural parts of the Building shall not be affected; (4) no part of the Building outside of the Premises shall be affected; and (5) the proper functioning of the Building Systems shall
not be adversely affected and the use of such systems by Tenant shall not be increased beyond Tenant’s allocable portion of reserve capacity thereof, if any. Reference is made to Schedule B hereto, which contains the Building Rules and
Building Standards for Alterations applicable to the Building, which is incorporated by reference in this Lease. Landlord reserves the right to make reasonable changes and additions thereto, provided however, that such changes or additions shall not
conflict with the express provisions of this Lease. To the extent that Tenant disputes the reasonableness of any of such changes and additions, either party may refer the dispute to the arbitration described in Section 39.22. In
addition, once Tenant commences a particular Alteration, Landlord shall not impose a new rule or standard, or modify an existing rule or standard, with respect to such Alteration which adversely affects Tenant’s ability to timely complete such
Alteration or increases Tenant’s costs in completing such Alteration. In case of any conflict or inconsistency between the provisions of this Lease and any of the Building Rules and Building Standards for Alterations, the provisions of this
Lease shall control, including with respect to any fees payable in connection with Tenant’s Alterations. 
 (B) (1) Prior
to making any Alterations, Tenant shall, at Tenant’s expense, (i) other than with respect to Decorative Alterations and other Alterations not requiring a building permit, submit to Landlord six sets of blue lines of final, stamped and
detailed plans and specifications (including layout, architectural, electrical, mechanical and structural drawings) that comply with all Laws for each proposed Alteration, and Tenant shall not commence any such Alteration without first obtaining
Landlord’s approval of such plans and specifications, which approval shall not be unreasonably withheld, conditioned or delayed, (ii) at Tenant’s expense, obtain all permits, approvals and certificates required by any Government
Authorities, and (iii) furnish to Landlord certificates evidencing worker’s compensation insurance (covering all persons to be employed by Tenant, and Tenant’s contractors and subcontractors, in connection with such Alteration) and
copies of Tenant’s policies of commercial general liability insurance (including premises operation, bodily injury, personal injury, death, independent contractors, products and completed operations, broad form contractual liability and broad
form property damage coverages) in such form, with such companies, for such periods and in such amounts as Landlord may reasonably approve, naming Landlord and its agents, any Lessor and any Mortgagee, as additional insureds. Upon completion of such
Alteration, Tenant, at Tenant’s 

  

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expense, shall obtain certificates of final approval of such Alterations required by any Government Authority and shall furnish Landlord with copies thereof,
together with the “as-built” plans and specifications for such Alterations. All Alterations shall be made and performed substantially in accordance with the plans and specifications therefor as approved by Landlord, all Laws and the Rules
and Regulations. All materials and equipment to be incorporated in the Premises as a result of any Alterations shall be first quality and no such materials or equipment shall be subject to any lien, encumbrance, chattel mortgage, title retention or
security agreement. In addition, except for Decorative Alterations, any Alteration for which the cost of labor and materials (as reasonably estimated by Landlord’s architect, engineer or contractor) is in excess of Seventy-Five Thousand
($75,000.00) Dollars, shall be performed only under the supervision of a licensed architect selected by Tenant and reasonably satisfactory to Landlord. 
 (2) Landlord shall endeavor to respond to the proposed plans and specifications referred to in Section 6.1 (B)(1)(i) within ten (10) days after submission, but Landlord shall have no liability to
Tenant by reason of Landlord’s failure to respond within such time period. If Landlord shall fail to respond within such time period, however, Landlord’s approval of such plans and specifications shall be deemed granted, provided that
Tenant shall have sent Landlord a second request for approval containing the following language in eighteen-point print: “THIS IS A SECOND REQUEST FOR APPROVAL OF THE PROPOSED PLANS AND SPECIFICATIONS. IF LANDLORD DOES NOT RESPOND TO THIS
REQUEST WITHIN FIVE (5) BUSINESS DAYS, LANDLORD’S APPROVAL SHALL BE DEEMED GRANTED PURSUANT TO THE PROVISIONS OF THE LEASE” and Landlord shall have failed to respond within such time period. Landlord reserves the right to disapprove
any plans and specifications in part, to reserve approval of items shown thereon pending its review and approval of other plans and specifications, and to condition its approval upon Tenant making reasonable revisions to the plans and specifications
or supplying additional information. Tenant agrees that any review or approval by Landlord of any plans and/or specifications with respect to any Alteration is solely for Landlord’s benefit, and without any representation or warranty whatsoever
to Tenant or any other Person with respect to the adequacy, correctness or sufficiency thereof or with respect to Laws or otherwise. 
 (3) Landlord approves in concept the installation by Tenant, at its expense, of a cafeteria and/or executive dining facilities in the Premises for Tenant’s employees and business invitees, subject to (a) Landlord’s approval
of Tenant’s plans and specifications for such Alterations in accordance with the provisions set forth in Section 6.1(A) and (B), (b) Tenant’s compliance with the other provisions of this Article 6 and
(c) compliance with customary construction, operational and cleaning requirements relating to the installation, operation and maintenance of commercial kitchens, including but not limited to, requirements relating to installation of appropriate
exhaust and venting equipment, drainpipes, greasetraps and ductwork, and the prevention of vermin and other infestation. 
 (4) Landlord shall not unreasonably withhold, condition or delay its consent to the installation by Tenant, at its expense, of a lockable cage-like enclosure around the telecommunication cabinets in the basement of the Building for security
purposes and installing another telecommunications cabinet in the same area if necessary. Landlord’s consent is conditioned upon Tenant complying with the applicable provisions of this Article 6 and 

  

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obtaining the consent to such work by any other user of such cabinets as well as the telecommunications provider with respect to such cabinets. 

(C) Except as otherwise provided in the Building Rules and Building Standards for Alterations, Tenant shall be permitted to perform
Alterations during Operating Hours, provided that such work does not unreasonably interfere with or unreasonably interrupt the operation and maintenance of the Building or unreasonably interfere with or unreasonably interrupt the use and occupancy
of the Building by other tenants in the Building; provided that Tenant shall not be entitled to have any construction material delivered, or any construction debris removed, during Operating Hours on Business Days prior to the date on which the
Commencement Date for floors 7, 8 and 9 shall have occurred. Otherwise, Alterations shall be performed at Tenant’s expense and at such times as Landlord may from time to time reasonably designate. All Alterations (but not Tenant’s
Property) shall become a part of the Building and shall be Landlord’s property from and after the installation thereof and may not be removed or changed without Tenant’s compliance with the applicable provisions of this Article 6.
Notwithstanding the foregoing, if on or before the date Landlord approves Tenant’s plans and specifications (or other documentation) for such Alterations, Landlord notifies Tenant that Landlord is reserving the right to require Tenant to remove
any Alterations designated by Landlord as specialty Alterations (“Specialty Installations”) which shall be only those that exceed the customary standard types of alterations for general, executive and administrative business offices
in Manhattan, then Landlord, prior to the Fixed Expiration Date or within 15 days after any earlier termination of this Lease, may require Tenant to remove such Specialty Installations and to repair and restore in a good and workmanlike manner to
Building standard condition (reasonable wear and tear excepted) any damage to the Premises or the Building caused by such removal. Notwithstanding anything to the contrary contained herein, (i) all Alterations made at Tenant’s expense
(i.e., those Alterations not paid for with the Tenant Improvement Allowance) shall be deemed to be owned by Tenant for the purposes of income taxes and Tenant shall have the right to depreciate the cost of such Alterations and
(ii) Landlord’s Work and all Alterations paid for with the Tenant Improvement Allowance shall be deemed to be owned by Landlord for the purposes of income taxes and Landlord shall have the right to depreciate the cost of such
Landlord’s Work and Alterations. All Tenant’s Property shall remain the property of Tenant and, on or before the Expiration Date or earlier end of the Term, may be removed from the Premises by Tenant at Tenant’s option, provided,
however, that Tenant shall repair and restore in a good and workmanlike manner to Building standard condition (reasonable wear and tear excepted) any damage to the Premises or the Building caused by such removal. The provisions of this
Section 6.1(C) shall survive the expiration or earlier termination of this Lease. 
 (D) (1) All Alterations shall
be performed, at Tenant’s sole cost and expense (but subject to the Tenant Improvement Allowance), by contractors and subcontractors selected by Tenant and approved by Landlord and under the supervision of a construction or project manager
selected by Tenant and approved by Landlord, which approval in any such cases shall not be unreasonably withheld, conditioned or delayed. Landlord hereby approves the contractors and subcontractors set forth on the list annexed to this Lease as
Schedule N, for the performance of the Initial Alterations for floors 6 and 10. Prior to making any Alteration, at Tenant’s request, Landlord shall furnish Tenant with a list of contractors who may perform Alterations to the 

  

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Premises on behalf of Tenant. If Tenant shall enter into a contract with any contractor set forth on the list, within six months after Landlord shall furnish
Tenant with such list, Tenant shall not be required to obtain Landlord’s consent to such contractor unless, prior to entering into a contract with such contractor or the commencement of work by the contractor, Landlord notifies Tenant that such
contractor has been removed from the list. 
 (2) Notwithstanding the foregoing, with respect to any Alteration affecting the
Class E Systems of the Building, (i) Tenant shall employ Landlord’s or the Manager’s designated contractor, provided its fees shall be commercially reasonable and competitive with like-qualified contractors, and (ii) the
Alteration shall be designed by Tenant’s, Landlord’s or the Manager’s engineer. In addition, Tenant shall employ Landlord’s or the Manager’s designated expediter with respect to any filings with, or other submissions to,
applicable Government Authorities in connection with any of Tenant’s Alterations, provided its fees shall be commercially reasonable and competitive with like-qualified expediters. As of the date of this Lease, the expediter for the Building is
Metropolis, which presently charges approximately $150 per hour for its principals and $45 per hour for non-principals. 
 (E)
(1) Any mechanic’s lien filed against the Premises or the Real Property for work claimed to have been done for, or materials claimed to have been furnished to, Tenant shall be cancelled or discharged by Tenant, by payment or filing of the bond
required by law, within thirty (30) days after Notice to Tenant that such lien shall have been filed, and Tenant shall indemnify and hold Landlord harmless from and against any and all costs, expenses, claims, losses or damages resulting
therefrom by reason thereof on the terms and conditions set forth in Article 33 hereof. 
 (2) If Tenant shall fail to
discharge such mechanic’s lien within the aforesaid period, then, in addition to any other right or remedy of Landlord, Landlord may, but shall not be obligated to, discharge the same either by paying the amount claimed to be due or by
procuring the discharge of such lien by deposit in court or bonding, and in any such event, Landlord shall be entitled, if Landlord so elects, to compel the prosecution of an action for the foreclosure of such mechanic’s lien by the lienor and
to pay the amount of the judgment, if any, in favor of the lienor, with interest, costs and allowances. 
 (3) Any amount paid
by Landlord for any of the aforesaid charges and for all reasonable expenses of Landlord (including, but not limited to, reasonable attorneys’ fees and disbursements) incurred in defending any such action, discharging said lien or in procuring
the discharge of said lien, with interest on all such amounts at the maximum legal rate of interest then chargeable to Tenant from the date of payment, shall be repaid by Tenant within thirty (30) days after written demand therefor, and all
amounts so repayable, together with such interest, shall be considered Additional Rent. 
 Section 6.2 In the case of Alterations (other than
Decorative Alterations) costing in excess of $25,000, Tenant shall pay to the Manager a fee (the “Alteration Fee”) equal to $3,500 per month (prorated for a partial month) during the performance of such Alterations. Manager shall
cause its head of construction (or the individual holding a similar position of comparable responsibility, presently held by Frank Spadafora) to participate in Tenant’s construction 

  

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meetings (but not more frequently than weekly), and shall otherwise cooperate with Tenant (at no cost to Landlord) in connection with Tenant’s
Alterations. Such Alteration Fee or any portion thereof shall be paid by Tenant to the Manager within 30 days after demand therefor. In addition, Tenant shall reimburse Landlord, within 30 days after demand for any out-of-pocket expense incurred by
Landlord for reviewing the plans and specifications for any Alterations or, provided the Alteration does not require the payment of an Alteration Fee, inspecting the progress of completion of the same. Notwithstanding the foregoing, Tenant shall not
be obligated to pay the Alteration Fee for any Alterations as to which Tenant has engaged Tristar Corporation, Sweet Construction or Corporate Interiors as the general contractor, so long as such selected entity is then authorized to perform work in
the Building. 
 Section 6.3 Landlord, at Tenant’s expense, and upon the request of Tenant, shall join in any applications for any
permits, approvals or certificates required to be obtained by Tenant in connection with any permitted Alteration (provided that the provisions of the applicable Laws shall require that Landlord join in such application) and shall otherwise cooperate
with Tenant in connection therewith, provided that Landlord shall not be obligated to incur any cost or expense or liability in connection therewith. 
 Section 6.4 Tenant shall furnish to Landlord copies of records of all Alterations and of the cost thereof within thirty (30) days after the completion of such Alterations. 
 Section 6.5 
 (A) Provided an
Event of Default is not then continuing under this Lease, Landlord, subject to the conditions set forth below, shall pay to Tenant the Tenant Improvement Allowance in connection with the Alterations to be made by Tenant for Tenant’s initial
occupancy of the Premises (the “Initial Alterations”), up to a maximum amount not to exceed the allocable amounts set forth in the Reference Page for those costs and expenses directly incurred by Tenant in connection with the
construction of the Initial Alterations for the applicable portions of the Premises, as shown on the approved plans and specifications referred to in Section 6.1 for such Initial Alterations. For purposes of the preceding sentence,
actual costs of construction shall include both so-called “hard” construction costs and so-called “soft” costs for Tenant’s architectural, engineering and filing fees, but excluding furniture, fixtures and equipment
(collectively, “Soft Costs”), provided that Landlord shall not be obligated to fund to Tenant for Soft Costs more than 10% of the allocable Tenant Improvement Allowance. Notwithstanding the foregoing, to the extent Tenant does not
use the entire Tenant Improvement Allowance allocable to a particular portion of the Premises, Tenant may request that Landlord fund such unused portion of the Tenant Improvement Allowance for subsequent Initial Alterations for another portion of
the Premises, so long as Tenant shall construct (or shall have previously constructed), on each floor of the Premises, first-class office space. 
 (B) Provided there has not occurred an Event of Default under this Lease, Landlord shall pay Tenant the allocable portion of the Tenant Improvement Allowance by reimbursing Tenant from time to time, but no more than
in monthly installments, within thirty (30) days after, with respect to each such installment, (i) Landlord receives from Tenant proper receipts marked “paid” and original unconditional lien waivers for that portion of the
Initial 

  

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Alterations then completed, evidencing that Tenant has spent the amount claimed on authorized construction costs for the applicable portion of the Premises,
(ii) Landlord receives from Tenant an original executed certificate from Tenant’s independent licensed architect stating (a) that, in his or her opinion, the portion of the Initial Alterations completed and for which the disbursement
is requested was performed in a good and workmanlike manner and in accordance with Tenant’s plans and specifications, (b) the percentage of the Initial Alterations completed as of the date of such certificate, and (c) the revised
estimated cost to complete the Initial Alterations, and (iii) Landlord receives from Tenant a written signed statement or request from an authorized officer of Tenant that the amount then being requested in such installment is justly due. It is
the intention of the parties that Landlord and Tenant shall fund the cost of the Initial Alterations in a ratio whereby Tenant pays $1 for each $1 paid by Landlord with respect to floors 6 and 10 and in a ratio whereby Tenant pays $1 for each $3
paid by Landlord for floors 7, 8 and 9. Accordingly, for each requisition made by Tenant for a portion of the Tenant Improvement Allowance, Landlord shall pay 50% or 75% (as the case may be) of the amount of the requisition to which Tenant shall be
entitled until the Tenant Improvement Allowance shall have been fully funded. Each such request with respect to such installment of the Tenant Improvement Allowance must be made by Tenant and received by Landlord (along with all required
documentation and information described in this paragraph above) no later than May 31, 2013 and Landlord shall not be obligated to pay the Tenant Improvement Allowance unless and until the Commencement Date has occurred and the Initial
Alterations performed, for the applicable portion of the Premises. Notwithstanding the foregoing, Landlord acknowledges that Tenant may have performed Initial Alterations prior to the applicable Commencement Date for a particular portion of the
Premises and, in such case, Landlord shall pay Tenant the entire Tenant Improvement Allowance attributable to such portion of the Premises within 30 days after the occurrence of the Commencement Date for such portion of the Premises, provided that
Tenant shall otherwise comply with the provisions of this Section 6.5. In the event the cost of the Initial Alterations exceeds the Tenant Improvement Allowance, Tenant shall be responsible to pay all of such excess costs and expenses.
It is expressly understood and agreed that Tenant shall complete the Initial Alterations, whether or not the Tenant Improvement Allowance is sufficient to fund such completion. 
 (C) Notwithstanding anything to the contrary contained in this Section 6.5, if, at the time any installment of the Tenant
Improvement Allowance is required to be made, an Event of Default exists in the payment of Fixed Rent or Additional Rent, then Landlord may offset the amount of such arrearages against the installment due from Landlord under this
Section 6.5. If there shall be existing an Event of Default under this Lease at the time Tenant makes application for payment under this Section 6.5, Landlord shall advise Tenant and if Tenant shall cure the same, Tenant
shall have the right to reapply to Landlord for payments due Tenant under this Section 6.5. If Tenant disputes whether such an Event of Default exists, it may refer the dispute to the arbitration described in Section 39.22.

 (D) Subject to the terms and conditions set forth in this Section 6.5, within thirty (30) days after the
last to occur of (i) Tenant’s request for the final installment of the Tenant Improvement Allowance, (ii) completion of the Initial Alterations in accordance with the terms hereof, (iii) delivery to Landlord of general releases
and waivers of lien from all contractors, subcontractors and materialmen involved in the performance of the Initial Alterations and the 

  

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supply of materials used in connection with the Initial Alterations, (iv) a certificate from Tenant’s independent licensed architect certifying
that (x) in his or her opinion the Initial Alterations has been performed in a good and workmanlike manner and completed substantially in accordance with Tenant’s plans and specifications for the Initial Alterations, and (y) to his or
her knowledge all contractors, subcontractors and materialmen have been paid for the Initial Alterations, and materials furnished through such date, and (v) satisfaction of all of the conditions set forth above in this Section 6.5,
Landlord shall fund the balance of the Tenant Improvement Allowance which had been retained. Tenant expressly agrees that Landlord’s obligation to pay the final installment of the Tenant Improvement Allowance shall also be conditioned upon
Tenant’s compliance with the requirements set forth in subparagraph (B) above. 
 (E) In no event shall the
aggregate amount paid by Landlord to Tenant ever exceed the amount of the Tenant Improvement Allowance. If the costs and expenses for the Initial Alterations are less than the amount of the Tenant Improvement Allowance, or if Tenant has not
submitted a request for any installment of the Tenant Improvement Allowance within the outside date set forth above, time being of the essence, Tenant shall not be entitled to any payment or credit for such excess or unused amounts. 
 (F) (1) If Landlord fails to pay the applicable portion of the Tenant Improvement Allowance within thirty (30) days after receipt of
the required deliveries described in Section 6.5(B), then Tenant may send a Notice to Landlord stating that, if Landlord fails to make such payment within ten (10) days after receipt of the Notice, Tenant intends to, and shall have
the right to, offset the amount owed to Tenant against the Rental thereafter payable under this Lease, unless Landlord notifies Tenant that Landlord disputes Tenant’s entitlement to the requested Tenant Improvement Allowance under this
Section 6.5, in which event Tenant shall not offset such amount unless it prevails in the arbitration referred to in Section 39.22. 
 (2) In the event Tenant gives the notice referred to above and Landlord does not pay the requested Tenant Improvement Allowance within the ten (10) day period referred to above, or if Landlord notifies Tenant
that Landlord disputes Tenant’s entitlement to the requested Tenant Improvement Allowance under this Section 6.5, then either party may refer such dispute to expedited arbitration under Section 39.22 of this Lease. In
the event Tenant is the prevailing party in the foregoing arbitration, Landlord shall pay to Tenant interest at the Applicable Rate on the applicable portion of the Tenant Improvement Allowance from the date on which Landlord was required to pay
such amount under Section 6.5(B) until the date such amount is paid by Landlord. 
 Section 6.6 Tenant shall not, at any time
prior to or during the Term, directly or indirectly employ, or permit the employment of, any contractor, mechanic or laborer in the Premises, whether in connection with any Alteration or otherwise, if such employment would interfere or cause any
conflict with other contractors, mechanics or laborers engaged in the construction, maintenance or operation of the Building by Landlord, Tenant or others. In the event of any such interference or conflict, Tenant, upon demand of Landlord, shall
cause all contractors, mechanics or laborers causing such interference or conflict to leave the Building immediately. 
  

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 ARTICLE 7 
 REPAIRS; FLOOR LOAD 
 Section 7.1 Tenant, at Tenant’s sole cost and expense, shall take good
care of the Premises and the fixtures, equipment and appurtenances therein (including the HVAC distribution system, ie., the ductwork, VAV and controls) and make all repairs thereto as and when needed to preserve them in good working order
and condition, except for (a) reasonable wear and tear, (b) obsolescence and (c) damage for which Tenant is not responsible pursuant to the provisions of Article 13. Except as otherwise provided in this Section 7.1,
Tenant shall not be obligated to repair any exterior or structural components of the Building or Building Systems, except that Landlord, at Tenant’s expense, shall maintain the fire and life safety system and its components (“Class E
Systems”) within the Premises by entering into a maintenance contract with the Building’s Class E System contractor. Landlord also shall enter into a maintenance contract with the Building’s Class E System contractor for the fire
and life safety system and its components outside of the Premises. The design and decoration of the public corridors and elevator areas of any floor of the Premises occupied by Tenant and any other occupants that is not an affiliate of Tenant shall
be under the sole control of Landlord. The design and decoration of the elevator areas of each floor of the Premises that is occupied solely by Tenant (or any other occupant that is an affiliate of Tenant) shall be subject to Landlord’s
approval, not to be unreasonably withheld, conditioned or delayed. Notwithstanding any provision contained in this Lease to the contrary, all damage or injury to the Premises, and all damage or injury to any other part of the Building, or to its
fixtures, equipment and appurtenances (including the Building Systems), whether requiring structural or non-structural repairs, caused by the moving of Tenant’s Property or caused by or resulting from any act or wrongful or negligent omission
of, or Alterations made by, Tenant or Persons Within Tenant’s Control, shall be repaired by Tenant, at Tenant’s sole cost and expense, to the reasonable satisfaction of Landlord (if the required repairs are non-structural in nature and do
not affect any Building Systems), or by Landlord at Tenant’s sole cost and expense (if the required repairs are structural in nature or affect any Building Systems). All of the aforesaid repairs shall be performed in a manner and with materials
and design of first class and quality consistent with first-class office buildings in Manhattan and shall be made in accordance with the provisions of Article 6. If Tenant shall fail, after ten (10) Business Days’ Notice (or such
shorter period as may be required because of an emergency), to proceed with due diligence to make repairs required to be made by Tenant, the same may be made by Landlord, at the reasonable expense of Tenant, and the expenses thereof incurred by
Landlord, with interest thereon at the Applicable Rate, shall be paid to Landlord, as Additional Rent, within thirty (30) days after rendition of a bill or statement therefor. Tenant shall give Landlord Notice promptly after becoming aware of
any defective condition in any Building Systems located in, servicing or passing through the Premises. 
 Section 7.2 Tenant shall not place
a load upon any floor of the Premises which exceeds the per square foot “live load” for such floor that such floor was designed to carry, which Landlord represents is at least 50 pounds live load per square foot. Tenant shall not locate or
move any safe, heavy machinery, heavy equipment, business machines, freight, bulky matter or fixtures into or out of the Building without Landlord’s prior consent, which consent shall not be unreasonably withheld, conditioned or delayed, and
Tenant shall make payment to Landlord of 

  

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Landlord’s reasonable out-of pocket costs in connection therewith (if such move is not part of an Alteration). If such safe, machinery, equipment,
freight, bulky matter or fixture requires special handling (as reasonably determined by Landlord), Tenant shall employ only persons holding a Master Rigger’s license to do said work. All work in connection therewith shall comply with the
Requirements, and shall be done during such hours as Landlord may reasonably designate. Business machines and mechanical equipment shall be placed and maintained by Tenant, at Tenant’s expense, in settings sufficient, in Landlord’s
reasonable judgment, to absorb and prevent vibration, noise and annoyance. 
 Section 7.3 Landlord (at its expense, but subject to the
reimbursement by Tenant under the provisions of Article 3) shall operate, maintain and make all necessary repairs (both structural and non-structural) to the Building Systems and the common areas and other public portions of the Building,
both exterior (including the Building façade and lobby storefronts) and interior, in conformance with standards applicable to first-class office buildings in the vicinity of the Building, except for those repairs for which Tenant is
responsible pursuant to any other provision of this Lease. Landlord shall also promptly make any repairs to the Premises necessitated by the negligence or willful misconduct of Landlord or its agents, contractors or employees. Landlord shall use
reasonable efforts to minimize interference with Tenant’s use and occupancy of the Premises in making any repairs, alterations, additions or improvements; provided, however, that Landlord shall have no obligation to employ contractors or labor
at so-called overtime or other premium pay rates or to incur any other overtime costs in connection with such repairs, alterations, additions or improvements. Notwithstanding the foregoing, if Tenant shall so request, Landlord shall employ
contractors or labor at so-called overtime or other premium pay rates or incur other overtime costs in making such repairs, alterations, additions or improvements, provided Tenant shall pay to Landlord, as Additional Rent, within thirty
(30) days after demand therefor, an amount equal to the reasonable, out-out-of-pocket overtime costs incurred by Landlord by reason of compliance with Tenant’s request, unless Landlord’s failure to perform its obligations under this
Section 7.3 shall unreasonably interfere with Tenant’s access to the Premises or shall unreasonably interfere with Tenant from conducting Tenant’s normal business operations in the Premises, in which event Landlord shall pay
for such overtime costs. Except as expressly provided in this Lease, there shall be no allowance to Tenant for a diminution of rental value and no liability on the part of Landlord by reason of inconvenience, annoyance or injury to business arising
from Landlord, Tenant or others making, or failing to make, any repairs, alterations, additions or improvements in or to any portion of the Building or the Premises, or its fixtures, appurtenances or equipment. 
 ARTICLE 8 
 WINDOW CLEANING 

Section 8.1 Tenant shall not clean, nor require, permit, suffer or allow any window in the Premises to be cleaned, from the outside in violation of
Section 202 of the Labor Law, or any other applicable law, or of the rules of the Board of Standards and Appeals, or of any other board or body having or asserting jurisdiction. 
  

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 ARTICLE 9 
 REQUIREMENTS OF LAW 
 Section 9.1 Tenant shall not do, and shall not permit Persons Within
Tenant’s Control to do, any act or thing in or upon the Premises or the Building which will invalidate or be in conflict with the certificate of occupancy for the Premises or the Building or violate any Requirements. Tenant shall, at
Tenant’s sole cost and expense, take all action, including making any required Alterations necessary to comply with all Laws (including, but not limited to, applicable terms of Local Laws No. 5 of 1973, No. 16 of 1984, No. 76 of 1985, No. 58 of
1987 and the Americans With Disabilities Act of 1990 (the “ADA”), each as modified and supplemented from time to time) which shall impose any violation, order or duty upon Landlord or Tenant arising from, or in connection with, the
Premises, Tenant’s occupancy, use or manner of use of the Premises (including, without limitation, any occupancy, use or manner of use that constitutes a “place of public accommodation” under the ADA), or any installations in the
Premises, or required by reason of a breach of any of Tenant’s covenants or agreements under this Lease, whether or not such Laws shall now be in effect or hereafter enacted or issued, and whether or not any work required shall be ordinary or
extraordinary or foreseen or unforeseen at the date hereof. Notwithstanding the preceding sentence, Tenant shall not be obligated to perform any Alterations necessary to comply with any Requirements, unless compliance shall be required by reason of
(i) any cause or condition arising out of any Alterations or installations in the Premises made by Tenant or by Landlord on behalf of Tenant, other than Landlord’s Work, or (ii) Tenant’s particular use, manner of use or occupancy
on behalf of Tenant of the Premises (as opposed to mere office use), or (iii) any breach of any of Tenant’s covenants or agreements under this Lease, or (iv) any wrongful act or wrongful or negligent omission by Tenant or Persons
Within Tenant’s Control, or (v) Tenant’s use or manner of use or occupancy of the Premises as a “place of public accommodation” within the meaning of the ADA, in which event Tenant’s obligation to perform any Alteration
by reason of this clause (v) shall apply only to the Premises. Notwithstanding the foregoing or any other provision of this Lease to the contrary, Tenant shall comply with all Laws with respect to all restrooms on any full floor of the Premises
(whether or not any such restroom is existing as of the date of this Lease and whether or not Tenant has retrofitted or altered the same) and with respect to all elevator lobbies serving any full floor of the Premises (whether or not Tenant has
retrofitted or altered any such elevator lobby); such compliance shall include the making of any Alterations that may be required by any Laws. 
 Section 9.2 Tenant covenants and agrees that Tenant shall, at Tenant’s sole cost and expense, comply at all times with all Laws governing the use, generation, storage, treatment and/or disposal of any Hazardous Materials (as defined
below), the presence of which results from the act or omission of Tenant or Persons Within Tenant’s Control or the breach of this Lease by Tenant or Persons Within Tenant’s Control. The term “Hazardous Materials” shall
mean any biologically or chemically active or other toxic or hazardous wastes, pollutants or substances, including, without limitation, asbestos, PCBs, petroleum products and by-products, substances defined or listed as “hazardous
substances” or “toxic substances” or similarly identified in or pursuant to the Comprehensive Environmental Response, Compensation and Liability Act, 42 U.S.C. § 9601 et seq., and as hazardous wastes under the Resource
Conservation and Recovery Act, 42 U.S.C. § 6010, et seq., any chemical substance or mixture 

  

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regulated under the Toxic Substance Control Act of 1976, as amended, 15 U.S.C. § 2601, et seq., any “toxic pollutant” under the Clean
Water Act, 33 U.S.C. § 466 et seq., as amended, any hazardous air pollutant under the Clean Air Act, 42 U.S.C. § 7401 et seq., hazardous materials identified in or pursuant to the Hazardous Materials Transportation Act, 49
U.S.C. § 1802, et seq., and any hazardous or toxic substances or pollutant regulated under any other Laws. Tenant shall indemnify and hold harmless all Indemnitees from and against any loss, cost, damage, liability or expense (including
attorneys’ fees and disbursements) arising by reason of any clean up, removal, remediation, detoxification action or any other activity required or recommended of any Indemnitees by any Government Authority by reason of the presence in or about
the Building or the Premises of any Hazardous Materials, to the extent resulting from the act or omission of Tenant or Persons Within Tenant’s Control or the breach of this Lease by Tenant or Persons Within Tenant’s Control. The foregoing
covenants and indemnity shall survive the expiration or any termination of this Lease. 
 Section 9.3 If Tenant shall receive notice of any
violation of, or defaults under, any Requirements, liens or other encumbrances applicable to the Building or the Premises, Tenant shall give prompt Notice thereof to Landlord. 
 Section 9.4 If any governmental license or permit shall be required for the proper and lawful conduct of Tenant’s business and if the failure to
secure such license or permit would, in any way, affect Landlord or the Building, then Tenant, at Tenant’s expense, shall promptly procure and thereafter maintain, submit for inspection by Landlord, and at all times comply with the terms and
conditions of, each such license or permit. 
 Section 9.5 Tenant, at Tenant’s sole cost and expense and after Notice to Landlord, may
contest, by appropriate proceedings prosecuted diligently and in good faith, the legality or applicability of any Laws affecting the Premises provided that: (a) neither Landlord nor any Indemnitees shall be subject to criminal penalties, nor
shall the Real Property or any part thereof be subject to being condemned or vacated, nor shall the certificate of occupancy for the Premises or the Building be suspended or threatened to be suspended, by reason of non-compliance or by reason of
such contest; (b) such non-compliance or contest shall not constitute or result in a violation (either with the giving of notice or the passage of time or both) of the terms of any Mortgage or Superior Lease, or if such Superior Lease or
Mortgage conditions such non-compliance or contest upon the taking of action or furnishing of security by Landlord, such action shall be taken or such security shall be furnished at the expense of Tenant; and (c) Tenant shall keep Landlord
regularly advised as to the status of such proceedings. 
 Section 9.6 Landlord shall remove, treat or encapsulate, in accordance with
applicable Laws, at its expense, any asbestos-containing materials existing in the Premises (other than in the 2nd
through 5th and 11th and 12th Floors) and in any areas outside of such portions of the
Premises (such as shaftways) that Tenant shall reasonably be required to access during the performance of the Initial Alterations or that Tenant has the exclusive right to use pursuant to the express provisions of this Lease or that is discovered in
the Premises during the Term, so long as such asbestos-containing materials were not introduced into the Premises by Tenant or by Persons Within Tenant’s Control. To the extent the completion of Tenant’s Initial Alterations in any affected
areas of the Premises is actually delayed due to the performance of such work by 

  

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Landlord, Tenant shall be entitled to an additional abatement of Fixed Rent and Escalation Rent (if applicable) to be applied after the applicable Rent
Commencement Date, on a per diem basis, equal to the duration of such actual delay, provided that Tenant shall have given Landlord Notice promptly after Tenant becomes aware of the existence of such asbestos-containing material, shall afford
Landlord access to the affected area of the Premises and shall otherwise reasonably cooperate with Landlord in eliminating or reducing the duration of any such delay. 
 ARTICLE 10 
 SUBORDINATION 
 Section 10.1 Subject to the terms of this Article 10, this Lease shall be subject and subordinate to the lien of each Superior Lease and to each
Mortgage, whether made prior to or after the execution of this Lease, and to the lien of all renewals, extensions, supplements, amendments, modifications, consolidations and replacements thereof or thereto, substitutions therefor, and advances made
thereunder. This clause shall be self-operative and no further agreement of subordination shall be required to make the interest of any Lessor or Mortgagee superior to the interest of Tenant hereunder. In confirmation of such subordination, however,
Tenant shall promptly execute and deliver, at its own cost and expense, any reasonable document, in recordable form if requested, that Landlord, any Lessor or any Mortgagee may request to evidence such subordination. If, in connection with the
financing of the Real Property, the Building or the interest of the lessee under any Superior Lease, or if, in connection with the entering into of a Superior Lease, any lending institution or Lessor, as the case may be, requests reasonable
modifications of this Lease that do not increase Rental or change the Term of this Lease, or otherwise adversely affect either the rights or obligations of Tenant or the obligations of Landlord under this Lease, Tenant shall make such modifications.

 Section 10.2 If, at any time prior to the expiration of the Term, any Superior Lease shall terminate or shall be terminated for any
reason, or any Mortgagee comes into possession of the Real Property or the Building or the estate created by any Superior Lease by receiver or otherwise, Tenant shall attorn, from time to time, to any such owner, Lessor or Mortgagee or any person
acquiring the interest of Landlord as a result of any such termination, or as a result of a foreclosure of the Mortgage or the granting of a deed in lieu of foreclosure, upon the then executory terms and conditions of this Lease (except as provided
below), for the remainder of the Term, provided that such owner, Lessor or Mortgagee, as the case may be, or receiver caused to be appointed by any of the foregoing, is then entitled to possession of the Premises. Any such attornment shall be made
upon the condition that no such owner, Lessor or Mortgagee (other than any such owner, Lessor or Mortgage that shall be an affiliate of Landlord or its members, shareholders or partners) shall be: 
 (1) liable for any act or omission of any prior landlord (including, without limitation, the then defaulting landlord); provided, however,
except as may be otherwise provided in this Lease, if such Lessor or Mortgagee succeeds to the interest of Landlord under this Lease, it shall be liable for (x) the performance of the covenants and obligations of Landlord accruing from and
after the date such Lessor or Mortgagee succeeds to the interest of Landlord 

  

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(including the performance of Landlord’s Work) and (y) curing defaults of a continuing nature that can be cured by performing a service or making a
repair or performing work (including Landlord’s Work); or 
 (2) subject to any defense, abatement, or offsets (except as
expressly set forth in this Lease, including, without limitation, the offset for the Tenant Improvement Allowance, as set forth herein) which Tenant may have against any prior landlord (including, without limitation, the then defaulting landlord);
or 
 (3) bound by any payment of Rental which Tenant might have paid for more than one month in advance of its due date to
any prior landlord (including, without limitation, the then defaulting landlord); or 
 (4) bound by any obligation to make
any payment to Tenant which was required to be made prior to the time such owner, Lessor or Mortgagee succeeded to any prior landlord’s interest, except that such owner, Lessor or Mortgagee shall be obligated to pay the Tenant Improvement
Allowance in accordance with the terms hereof; or 
 (5) bound by any obligation to perform any work or to make improvements
to the Premises except for (i) repairs and maintenance pursuant to the provisions of Article 7 and compliance with Law obligations under Article 9, (ii) repairs to the Premises or any part thereof as a result of damage by
fire or other casualty pursuant to Article 13, (iii) repairs to the Premises as a result of a partial condemnation pursuant to Article 14 and (iv) the obligations set forth in the immediately preceding clause (1). The
provisions of this Section 10.2 shall inure to the benefit of any such owner, Lessor or Mortgagee, shall apply notwithstanding that, as a matter of law, this Lease may terminate upon the termination of any such Superior Lease, and shall
be self-operative upon any such demand, and no further agreement shall be required to give effect to said provisions. Tenant, however, upon demand of any such owner, Lessor or Mortgagee, shall execute, from time to time, agreements in confirmation
of the foregoing provisions of this Section 10.2, reasonably satisfactory to any such owner, Lessor or Mortgagee, and to Tenant, and acknowledging such attornment and setting forth the terms and conditions of its tenancy. 
 Section 10.3 If requested by any Mortgagee, any Lessor or Landlord, Tenant shall promptly execute and deliver, at Tenant’s own cost and expense, any
document meeting the requirements of this Article 10, in recordable form, to evidence such subordination and non-disturbance. 
 Section 10.4 At any time and from time to time within ten (10) Business Days after notice to Tenant or Landlord given by the other, or to Tenant given by a Lessor or Mortgagee, Tenant or Landlord, as the case may be, shall, without
charge, execute, acknowledge and deliver a statement in writing addressed to such party as Tenant, Landlord, Lessor or Mortgagee, as the case may be, may designate, in form reasonably satisfactory to Tenant, Landlord, Lessor or Mortgagee, as the
case may be, certifying all or any of the following: (i) that this Lease is unmodified and in full force and effect (or if there have been modifications, that this Lease is in full force and effect as modified and stating the modifications);
(ii) whether the Term has 

  

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commenced and Fixed Rent and Additional Rent have become payable hereunder and, if so, the dates to which they have been paid; (iii) whether or not, to
the best knowledge of the signer of such certificate, Landlord is in default in performance of any of the terms of this Lease and, if so, specifying each such event of default of which the signer may have knowledge; (iv) whether Tenant has
accepted possession of the Premises; (v) whether Tenant has made any claim against Landlord under this Lease and, if so, the nature thereof and the dollar amount, if any, of such claim; (vi) either that Tenant does not know of any default
in the performance of any provision of this Lease or specifying the default of which Tenant may have knowledge; and (vii) such further reasonable information with respect to this Lease or the Premises as Landlord or Tenant may reasonably
request or Lessor or Mortgagee may require; it being intended that any such statement delivered pursuant hereto may be relied upon by (I) with respect to a statement requested by Landlord, any prospective purchaser of the Real Property or any
part thereof or of the interest of Landlord in any part thereof, by any Mortgagee or prospective Mortgagee, by any Lessor or prospective Lessor, by any tenant or prospective tenant of the Real Property or any part thereof, or by any prospective
assignee of any Mortgage and (II) with respect to a statement requested by Tenant, any assignee or subtenant of Tenant, any Person that acquired control of Tenant (provided that such assignment, sublease or transfer of control is accomplished in a
manner that complies with the provisions of Article 15 hereof), or any Persons that extends credit to Tenant. 
 The failure of either
Tenant or Landlord to execute, acknowledge and deliver to the other a statement in accordance with the provisions of this Section 10.4 within said ten (10) Business Day period shall constitute an acknowledgment by Tenant or
Landlord, as the case may be, which may be relied on by any person who would be entitled to rely upon any such statement, that such statement as submitted by Landlord or Tenant, as the case may be, is true and correct. 
 Section 10.5 As long as any Superior Lease or Mortgage exists, Tenant shall not seek to terminate this Lease by reason of any act or omission of Landlord
until Tenant has given written notice of such act or omission to all Lessors and Mortgagees at such addresses as may have been furnished to Tenant by such Lessors and Mortgagees and, if any such Lessor or Mortgagee, as the case may be, notifies
Tenant within thirty (30) days following receipt of such notice of its intention to remedy such act or omission, then Tenant shall not have the right to so terminate this Lease unless Lessor or Mortgage fails to remedy such act or omission
within a reasonable period of time after the date that Lessor or Mortgagee gives such notice to Tenant (it being understood that such Lessor or Mortgagee shall have the right, but not the obligation, to remedy such act or omission). If there is any
conflict between the provisions of this Section 10.5 and the terms and provisions of any Non-Disturbance Agreement executed in accordance with this Article 10, then the terms of such Non-Disturbance Agreement shall control. The
foregoing provisions are not intended to afford Tenant an express termination right, except to the extent Tenant otherwise has such termination right pursuant to the provisions of this Lease. 
 Section 10.6 Landlord shall cause the existing Mortgagee to execute and deliver to Tenant a non-disturbance agreement substantially in the form of
Schedule G annexed to this Lease, within thirty (30) days after Tenant delivers to Landlord the non-disturbance agreement executed by Tenant. Landlord represents that there is no Superior Lease affecting the Real Property as of the date
of this Lease. Landlord represents that the only Mortgage affecting the 

  

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Real Property as of the date of this Lease is as described in the Non-Disturbance Agreement annexed to this Lease as Schedule G. 
 Section 10.7 As a condition to the subordination of this Lease described in Section 10.1, Landlord shall obtain from the holder of any future
Mortgage or the Lessor under any future Superior Lease a Non-Disturbance Agreement in recordable form that provides in substance that, so long as there shall be no Event of Default that then remains uncured, Tenant’s possession of the Premises
in accordance with this Lease shall not be disturbed by such person giving the Non-Disturbance Agreement or any successor or purchaser at a foreclosure sale (as the case may be) which shall succeed to the rights of Landlord under this Lease. Such
agreement shall otherwise be in such form as is customarily used by the Mortgagee or Lessor, provided the same is commercially reasonable taking into account the percentage of the rentable area of the Building then subject to this Lease (a
“Non-Disturbance Agreement”). The form of Non-Disturbance Agreement annexed hereto as Schedule G is deemed to be commercially reasonable. 
 ARTICLE 11 
 RULES AND REGULATIONS 
 Section 11.1 Tenant shall comply and shall cause Persons Within Tenant’s Control to comply with the Rules and Regulations. Nothing contained in this
Lease shall be construed to impose upon Landlord any duty or obligation to enforce the Rules and Regulations or the terms, covenants or conditions in any other lease against any other tenant, and Landlord shall not be liable to Tenant for violation
of the same by any other tenant, its employees, agents, visitors or licensees. Landlord shall not discriminate against Tenant in enforcing the Rules and Regulations. In case of any conflict or inconsistency between the provisions of this Lease and
of any of the Rules and Regulations as originally or as hereinafter adopted, the provisions of this Lease shall control. 
 ARTICLE 12

 INSURANCE, PROPERTY LOSS OR DAMAGE; REIMBURSEMENT 
 Section 12.1 
 (A) No Tenant shall entrust any property to any Building employee. Any
Building employee to whom any property is entrusted by or on behalf of Tenant in violation of the foregoing prohibition shall be deemed to be acting as Tenant’s agent with respect to such property and neither Landlord nor its agents shall be
liable for any damage to property of Tenant or of others entrusted to employees of the Building, nor for the loss of or damage to any property of Tenant by theft or otherwise. Landlord and Landlord’s agents shall not be liable for any damage to
any of Tenant’s Property or for interruption of Tenant’s business, however caused, including but not limited to damage caused by other tenants or persons in the Building. Landlord shall not be liable for any latent defect in the Premises
or in the Building, except as set forth in Article 21. The foregoing shall not relieve Landlord from liability to Tenant (other than for 

  

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consequential damages) to the extent resulting from the negligence or willful misconduct of Landlord, the Manager, and their employees, contractors and
agents. 
 (B) If at any time any windows of the Premises are temporarily closed, darkened or covered in connection with the
repair, maintenance, alteration or improvement to the Building, or any of such windows are permanently closed, darkened or bricked-up by reason of any Requirements, Landlord shall not be liable for any damage Tenant may sustain thereby, and Tenant
shall not be entitled to any compensation therefor nor to an abatement of Fixed Rent or any other item of Rental, nor shall the same release Tenant from Tenant’s obligations hereunder nor constitute an eviction. Landlord shall (i) give
Tenant Notice at least five (5) Business Days prior to the date of any temporary closing, darkening or bricking-up of any windows by reason of repairs, maintenance, alterations or improvements (but shall be permitted to give Tenant oral notice
in cases where a Notice would be impracticable, such as in an emergency), and (ii) cause any such work to be performed as expeditiously as is commercially reasonable. 
 (C) Tenant shall give a Notice to Landlord promptly after Tenant learns of any accident, emergency, occurrence for which Landlord might be
liable, fire or other casualty and all damages to or defects in the Premises or the Building for the repair of which Landlord might be responsible or which constitutes Landlord’s property. Such Notice shall be given by telecopy or personal
delivery to the address(es) of Landlord in effect pursuant to Article 27. 
 Section 12.2 Tenant shall not do or permit to be done any
act or thing in or upon the Premises which will invalidate or be in conflict with the terms of the New York State standard policies of fire insurance and liability (hereinafter referred to as “Building Insurance”); and Tenant, at
Tenant’s own expense, shall comply with all rules, orders, regulations and requirements of all insurance boards (except for structural changes, repairs or Laws with which Landlord is otherwise required to comply under this Lease), and shall not
do or permit anything to be done in or upon the Premises or bring or keep anything therein or use the Premises in a manner which increases the rate of premium for any of the Building Insurance over the rate in effect at the commencement of the Term
of this Lease. 
 Section 12.3 If by reason of any failure of Tenant to comply with the provisions of this Lease, the rate of premium for
Building Insurance or other insurance on the property and equipment of Landlord shall increase, Tenant shall reimburse Landlord for that part of the insurance premiums thereafter paid by Landlord which shall have been charged because of such failure
by Tenant. Tenant shall make said reimbursement within thirty (30) days after Landlord’s rendition of a statement therefor. 
 Section 12.4 
 (A) Tenant, at Tenant’s sole cost and expense, shall obtain, maintain and keep in full force and
effect during the Term commercial general liability insurance in a form approved in New York State (including broad form property damage coverages and coverage for contractual liability recognizing the indemnity provisions of this Lease and
protecting the Indemnitees as required, whether or not Tenant is negligent or otherwise responsible for the additional insured’s loss, liability or expense). The limits of liability shall be not less than Ten 

  

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Million and 00/100 ($10,000,000.00) Dollars per occurrence, which amount may be satisfied with a primary commercial general liability policy of not less than
$1,000,000.00 per occurrence /$2,000,000.00 general aggregate and an excess (or “Umbrella”) liability policy affording coverage, at least as broad as that afforded by the primary commercial general liability policy, in an amount not
less than the difference between $10,000,000 and the amount of the primary policy. Landlord, the Manager, any Lessors and any Mortgagees shall be included as additional insureds in said policies and shall be protected against all liability arising
in connection with this Lease, whether or not Tenant is negligent or otherwise responsible for the additional insured’s loss, liability or expense (such protection being that provided under form CG 20 10 dated prior to July 2004). All said
policies of insurance shall be written as “occurrence” policies. Whenever, in Landlord’s reasonable judgment, good business practice and changing conditions indicate a need for additional amounts or different types of insurance
coverage, Tenant shall, within thirty (30) days after Landlord’s gives Tenant a Notice with respect thereto, obtain such insurance coverage, at Tenant’s expense, provided that the owners of buildings in the vicinity of and similar in
nature to the Building are generally requiring such additional amounts or different types of insurance coverage. 
 (B)
Tenant, at Tenant’s sole cost and expense, shall obtain, maintain and keep in full force and effect during the Term: (i) “All Risk” insurance, with deductibles in an amount reasonably satisfactory to Landlord, protecting and
indemnifying Tenant against any and all damage to or loss of any Alterations and leasehold improvements, including any made by Landlord to prepare the Premises for Tenant’s occupancy, and Tenant’s Property. Such insurance shall not contain
any exclusions for flood, mold/fungus or acts of terrorism or similar events. All said policies shall cover the full replacement value of all Alterations, leasehold improvements and Tenant’s Property; (ii) Workers’ compensation and
occupational disease insurance, employee benefit insurance or any other insurance in the statutory amounts required by the laws of the State of New York with broad form all-states endorsement, and employer’s liability insurance with a limit of
One Million ($1,000,000.00) Dollars for each accident and (iii) Business interruption insurance (including Extra Expense) fully compensating for the amount of Fixed Rent, additional rent and other charges owed to Landlord by Tenant for a period
of not less than twelve (12) months. The coverage shall be “All Risk” as stated in clause (i) above. 
 (C) All policies of insurance shall be: (i) written as primary policy coverage and not contributing with or in excess of any coverage which Landlord or any Lessor may carry; and (ii) issued by reputable and independent insurance
companies rated in Best’s Insurance Guide or any successor thereto (or, if there is none, an organization having a national reputation), as having a general policyholder rating of “A-” and a financial rating of at least
“10”, and which are licensed to do business in the State of New York. Tenant shall, not later than ten (10) Business Days prior to the Commencement Date, deliver to Landlord the policies or certificates of insurance and shall
thereafter furnish to Landlord, at least fifteen (15) days prior to the expiration of any such policies and any renewal thereof, a new policy or certificate in lieu thereof. Each of said policies shall also contain a provision whereby the
insurer agrees not to cancel, fail to renew or materially modify said insurance policy(ies) without endeavoring to give Landlord, the Manager and any Lessors and Mortgagees at least thirty (30) days prior written notice thereof (ten
(10) days in the event of non-payment). Tenant shall promptly send to Landlord a copy of all notices sent to Tenant by Tenant’s insurer relating to the Premises. 
  

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 (D) Tenant shall pay all premiums and charges for all of said policies, and, if Tenant
shall fail to make any payment when due or carry any such policy, Landlord may, but shall not be obligated to, make such payment or carry such policy, and the amount paid by Landlord, with interest thereon (at the Applicable Rate), shall be repaid
to Landlord by Tenant on demand, and all such amounts so repayable, together with such interest, shall be deemed to constitute Additional Rent hereunder. Payment by Landlord of any such premium, or the carrying by Landlord of any such policy, shall
not be deemed to waive or release the default of Tenant with respect thereto. 
 Section 12.5 
 (A) Landlord shall cause each policy carried by Landlord insuring the Building against loss, damage or destruction by fire or other
casualty, and Tenant shall cause each insurance policy carried by Tenant and insuring the Premises and Tenant’s Alterations, leasehold improvements and Tenant’s Property against loss, damage or destruction by fire or other casualty, to be
written in a manner so as to provide that the insurance company waives all rights of recovery by way of subrogation against Landlord, Tenant and any tenant of space in the Building in connection with any loss or damage covered by any such policy.
Neither party shall be liable to the other for the amount of such loss or damage which is in excess of the applicable deductible, if any, caused by fire or any of the risks enumerated in its policies, provided that such waiver was obtainable at the
time of such loss or damage. However, if such waiver cannot be obtained, or shall be obtainable only by the payment of an additional premium charge above that which is charged by companies carrying such insurance without such waiver of subrogation,
then the party undertaking to obtain such waiver shall give Notice to the other party of such fact and such other party shall have a period of ten (10) days after the giving of such Notice to agree in writing to pay such additional premium if
such policy is obtainable at additional cost (in the case of Tenant, pro rata in proportion of Tenant’s rentable area to the total rentable area covered by such insurance); and if such other party does not so agree or the waiver shall not be
obtainable, then the provisions of this Section 12.5 shall be null and void as to the risks covered by such policy for so long as either such waiver cannot be obtained or the party in whose favor a waiver of subrogation is desired shall
refuse to pay the additional premium. If the release of either Landlord or Tenant, as set forth in the second sentence of this Section 12.5, shall contravene any law with respect to exculpatory agreements, the liability of the party in
question shall be deemed not released, but no action or rights shall be sought or enforced against such party unless and until all rights and remedies against the other’s insurer are exhausted and the other party shall be unable to collect such
insurance proceeds. 
 (B) The waiver of subrogation referred to in Section 12.5(A) above shall extend to the
agents and employees of each party (including, as to Landlord, the Manager), but only if and to the extent that such waiver can be obtained without additional charge (unless such party shall pay such charge). Nothing contained in this
Section 12.5 shall be deemed to relieve either party from any duty imposed elsewhere in this Lease to repair, restore and rebuild. 
 Section 12.6 Landlord shall maintain and keep in full force and effect, with reputable insurance companies rated in Best’s Insurance Guide or any successor thereto (or, if there is none, an organization having a national reputation),
as having a general policyholder rating of 

  

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“A-” and a financial rating of at least “10”, and which are licensed to do business in the State of New York, the following insurance:
(a) commercial general liability insurance (including premises operation, bodily injury, personal injury, death, independent contractors, products and completed operations, broad form contractual liability and broad form property damage
coverages) in a combined single limit amount of not less than $10,000,000, arising from the conduct of Landlord, or omissions of Landlord, its agents, servants and contractors and (b) “all-risk” insurance in an amount equal to
Landlord’s estimate, given on an annual basis, of 100% of the replacement value of the Building, exclusive of footings. Landlord shall deliver to Tenant certificates of insurance evidencing such coverage on the same date or dates that Tenant is
required to deliver to Landlord hereunder Tenant’s certificates of insurance. Such policies shall contain a provision whereby the insurer agrees not to cancel, fail to renew or materially modify said insurance policy(ies) without endeavoring to
give Tenant at least thirty (30) days prior written notice thereof (ten (10) days in the event of non-payment). Tenant shall be included as an additional insured in said policies and shall be protected against all liability arising in
connection with this Lease. 
 ARTICLE 13 
 DESTRUCTION BY FIRE OR OTHER CAUSE 
 Section 13.1 If the Premises or any part thereof shall be damaged by fire or other
casualty, Tenant shall promptly give Landlord a Notice thereof. Landlord shall, subject to the provisions of Sections 13.2 and 13.3 below, proceed with commercially reasonable diligence, after receipt of the net proceeds of
Landlord’s insurance, to repair or cause to be repaired such damage to the shell and core of the Building and the Premises at its expense, but in no event shall Landlord be obligated to repair any damage to or to restore any of Tenant’s
leasehold improvements or Alterations, whether initially installed by Landlord or Tenant. Tenant, after receipt of the net proceeds of Tenant’s insurance and the Substantial Completion of the repair of the damage by Landlord, shall repair and
restore in accordance with Article 6 and with reasonable dispatch all leasehold improvements and Alterations made by or for Tenant in the Premises. If the Premises, or any part thereof, shall be rendered untenantable by reason of such damage,
then the Fixed Rent and the Escalation Rent hereunder, or an amount thereof apportioned according to the area of the Premises so rendered untenantable (if less than the entire Premises shall be so rendered untenantable), shall be abated for the
period from the date of such damage to the date that is the earlier of ninety (90) days after the repair of such damage shall have been Substantially Completed or Tenant’s occupancy of the affected area of the Premises for the conduct of
its business, provided that such ninety (90) day period shall be extended for the period of time that Landlord’s insurer pays to Landlord the proceeds that such insurer is required to pay to Landlord on account of rent proceeds pursuant to
Landlord’s “all-risk” property insurance policy. Notwithstanding any provisions contained in this Lease to the contrary, there shall be no abatement with respect to any portion of the Premises which has not been so damaged and which
is accessible and reasonably usable by Tenant for its normal business operations, or as to which Tenant is not obligated to pay Fixed Rent or Escalation Rent, provided that the continued use of such undamaged portion of the Premises does not require
the expenditure by Tenant of any cost to render such portion of the Premises usable (other than in a 

  

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de minimis amount). Landlord shall give Tenant Notice of the date when Landlord determines that the Premises are tenantable, which date shall
be controlling unless Tenant disputes the same by giving Landlord Notice thereof within 10 Business Days after receipt of Landlord’s Notice to Tenant, and pending the resolution of such dispute by expedited arbitration proceeding in accordance
with Section 39.22 thereof, Tenant shall commence the payment of the Fixed Rent and the Escalation Rent that had been abated, as of the date specified by Landlord. If the determination in such proceeding is that Landlord’s
determination of the date of tenantability was incorrect, the Landlord shall pay or credit Tenant with any Fixed Rent and Escalation Rent paid by Tenant and attributable to the period prior to the date of tenantability (as determined in such
arbitration proceeding), together with interest at the Applicable Rate. Tenant shall cooperate with Landlord and any Lessor or any Mortgagee in their efforts to collect insurance proceeds (including rent insurance proceeds) payable to such parties.
Landlord shall not be liable for any delay which may arise by reason of adjustment of insurance on the part of Landlord and/or Tenant, or any cause beyond the control of Landlord or contractors employed by Landlord. 
 Section 13.2 Landlord shall not be liable for any inconvenience or annoyance to Tenant or injury to the business of Tenant resulting in any way from
damage from fire or other casualty or the repair thereof. Tenant understands that Landlord, in reliance upon Section 12.4, will not carry insurance of any kind on Tenant’s Property, Tenant’s Alterations and on leasehold
improvements, and that Landlord shall not be obligated to repair any damage thereto or replace the same. In the event of a partial or total destruction of the Premises, Tenant shall as soon as practicable remove any and all of Tenant’s Property
from the Premises or the portion thereof destroyed, as the case may be, and if Tenant does not promptly so remove Tenant’s Property, Landlord may discard the same after giving Tenant fifteen (15) Business Days’ prior Notice of the
same or may remove Tenant’s Property to a public warehouse for deposit or retain the same in its own possession. 
 Section 13.3

 (A) Notwithstanding anything to the contrary contained in Sections 13.1 and 13.2 above, in the event that:

 (i) at least 150,000 rentable square feet of the Building shall be damaged by fire or other casualty so that substantial
alteration or reconstruction of the Building shall, in Landlord’s sole but reasonable discretion, be required; or 
 (ii)
there shall be any damage to the Premises within the last year of the Term wherein the cost of repair exceeds an amount equal to three (3) monthly installments of Fixed Rent, 
 then Landlord in the case of the circumstances described in clauses (i) and (ii) above, and Tenant, in the case of the circumstances described in clause (ii) above only, may, in such party’s sole
and absolute discretion, terminate this Lease and the term and estate hereby granted, by giving Notice thereof to the other party in writing of such termination within ninety (90) days after the date of such damage. In the event that such
Notice shall be given, then this Lease and 

  

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the term and estate hereby granted shall expire as of the date of termination stated in said Notice with the same effect as if that were the Fixed Expiration
Date, and the Fixed Rent and Escalation Rent hereunder shall be apportioned as of such date. 
 (B) Notwithstanding anything
to the contrary contained in this Section 13.3, Landlord shall deliver to Tenant within sixty (60) days after the date of any casualty (which date shall be extended to the extent the condition of the Real Property precludes adequate
access by Landlord’s contractor) an estimate prepared by a reputable independent contractor selected by Landlord setting forth such contractor’s estimate as to the time reasonably required to repair such damage. If the period to repair set
forth in any such estimate exceeds fifteen (15) months from the date of such casualty, Tenant may elect to terminate this Lease by giving Landlord Notice thereof not later than thirty (30) days following Tenant’s receipt of such
estimate. If Tenant exercises to right to terminate this Lease as aforesaid, this Lease and the term and estate hereby granted shall expire as of the 60th day after the date Tenant gives such Notice to Landlord with the same effect as if that were
the Fixed Expiration Date, and the Fixed Rent and Escalation Rent hereunder shall be apportioned as of such date. If (i) Tenant shall not have exercised its right to terminate this Lease pursuant to this Section 13.3(B), but the
damage shall not have been repaired by the date set forth in such estimate (subject to extension due to Unavoidable Delay for up to three months or Tenant Delay), or (ii) if the period to repair in such estimate is fifteen (15) months or
less, but the damage shall not have been repaired within fifteen (15) months after the date of the casualty (subject to extension due to Unavoidable Delay for up to three months or Tenant Delay), Tenant may elect to terminate this Lease by
Notice given to Landlord not later than thirty (30) days following the period set forth in such estimate for completion (where the same exceeds fifteen (15) months in the circumstances contemplated in clause (i) or following such
fifteen (15) month period (where the period set forth in such estimate for completion was fifteen (15) months or more, in the circumstances contemplated in clause (ii)), and the Term shall expire on the date Tenant gives Landlord such
Notice unless prior to the giving of such Notice, Landlord shall have Substantially Completed such repair. 
 Section 13.4 This Lease shall
be considered an express agreement governing any case of damage to or destruction of the Building or any part thereof by fire or other casualty, and Section 227 of the Real Property Law of the State of New York providing for such a contingency
in the absence of express agreement and any other law of like import now or hereafter in force, shall have no application in such case. 
 ARTICLE 14 
 EMINENT DOMAIN 
 Section 14.1 If the whole of the Real Property, the Building or the Premises is acquired or condemned for any public or quasi-public use or purpose, this Lease and the Term shall end as of the date of the vesting of
title with the same effect as if said date were the Fixed Expiration Date. If only a part of the Real Property and not the entire Premises is so acquired or condemned then, (1) except as hereinafter provided in this Section 14.1,
this Lease and the Term shall continue in effect but, if a part of the Premises is included in the part of the Real Property so 

  

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acquired or condemned, from and after the date of the vesting of title, the Fixed Rent and Tenant’s Share shall be reduced in the proportion which the
area of the part of the Premises so acquired or condemned bears to the total area of the Premises immediately prior to such acquisition or condemnation; (2) Landlord, at Landlord’s option, may give to Tenant, within sixty (60) days
next following the date upon which Landlord receives notice of vesting of title, a sixty (60) day notice of termination of this Lease (so long as Landlord terminates all other leases, if any, of office space in the Building); and (3) if
the part of the Real Property so acquired or condemned contains more than fifteen (15%) percent of the total area of the Premises immediately prior to such acquisition or condemnation, or if, by reason of such acquisition or condemnation,
Tenant no longer has reasonable access to the Premises, Tenant, at Tenant’s option, may give to Landlord, within sixty (60) days next following the date upon which Tenant receives notice of vesting of title, a sixty (60) day Notice of
termination of this Lease. If any such sixty (60) day Notice of termination is given, by Landlord or Tenant, this Lease and the Term shall come to an end and expire upon the expiration of said sixty (60) days with the same effect as if the
date of expiration of said sixty (60) days were the Fixed Expiration Date. If a part of the Premises is so acquired or condemned and this Lease and the Term are not terminated pursuant to the foregoing provisions of this
Section 14.1, Landlord, at Landlord’s cost and expense, shall restore that part of the Premises not so acquired or condemned to a self-contained rental unit, exclusive of Tenant’s Alterations, Tenant’s leasehold
Improvements and Tenant’s Property. In the event of any termination of this Lease and the Term pursuant to the provisions of this Section 14.1, the Fixed Rent shall be apportioned as of the date of sooner termination and any prepaid
portion of the Fixed Rent or Escalation Rent for any period after such date shall be refunded by Landlord to Tenant. 
 Section 14.2 In the
event of any such acquisition or condemnation of all or any part of the Real Property, Landlord shall be entitled to receive the entire award for any such acquisition or condemnation. Tenant shall have no claim against Landlord or the condemning
authority for the value of any unexpired portion of the Term and Tenant hereby expressly assigns to Landlord all of its right in and to any such award. Nothing contained in this Section 14.2 shall be deemed to prevent Tenant from making
a separate claim in any condemnation proceedings for the value of any Tenant’s Property or Alterations paid by Tenant included in such taking, and for any moving expenses, so long as Landlord’s award is not reduced thereby. 
 Section 14.3 If the whole or any part of the Premises is acquired or condemned temporarily during the Term for any public or quasi-public use or purpose,
Landlord and Tenant shall give prompt Notice thereof to the other party and the Term shall not be reduced or affected in any way and Tenant shall continue to pay in full all items of Rental payable by Tenant hereunder without reduction or abatement,
as long as Tenant obtains the award for such temporary condemnation, it being agreed that only Tenant shall be entitled to receive any award or payments for such use, provided, however, that if the acquisition or condemnation is for a period
extending beyond the Term, such award or payment shall be apportioned between Landlord and Tenant as of the Expiration Date. 
  

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 ARTICLE 15 
 ASSIGNMENT, SUBLETTING, MORTGAGE, ETC. 
 Section 15.1 Except as otherwise provided in this Article
15, Tenant shall not (a) assign this Lease (whether by operation of law, transfers of interests in Tenant or otherwise); or (b) mortgage or encumber Tenant’s interest in this Lease, in whole or in part; or (c) sublet, or
permit the subletting of, the Premises or any part thereof; or (d) permit the Premises or any part thereof to be occupied or used for desk space, mailing privileges or otherwise by any person other than Tenant. Tenant shall not advertise or
authorize a broker to advertise for a subtenant or assignee, without in each instance, obtaining the prior written consent of Landlord to the form of such advertisement, which shall not be unreasonably withheld or delayed and which shall be deemed
approved if Landlord fails to respond to such request within five (5) Business Days. 
 Section 15.2 If Tenant’s interest in this
Lease shall be assigned in violation of the provisions of this Article 15, such assignment shall be invalid and of no force and effect against Landlord; provided, however, that Landlord may collect an amount equal to the then Fixed Rent plus
any other item of Rental from the assignee as a fee for its use and occupancy. If the Premises or any part thereof are sublet to, or occupied by, or used by, any person other than Tenant, whether or not in violation of this Article 15,
Landlord, after default by Tenant under this Lease, may collect any item of Rental or other sums paid by the subtenant, user or occupant as a fee for its use and occupancy, and shall apply the net amount collected to the Fixed Rent and the items of
Rental reserved in this Lease. No such assignment, subletting, occupancy, or use, whether with or without Landlord’s prior consent, nor any such collection or application of Rental or fee for use and occupancy, shall be deemed a waiver by
Landlord of any term, covenant or condition of this Lease or the acceptance by Landlord of such assignee, subtenant, occupant or user as Tenant hereunder, nor shall the same, in any circumstances, relieve Tenant of any of its obligations under this
Lease. The consent by Landlord to any assignment, subletting, occupancy or use shall not relieve Tenant from its obligation to obtain the express prior consent of Landlord to any further assignment, subletting, occupancy or use. Any person to which
this Lease is assigned with Landlord’s consent shall be deemed without more to have assumed all of the obligations arising under this Lease from and after the date of such assignment and shall execute and deliver to Landlord, upon demand, an
instrument confirming such assumption. Notwithstanding and subsequent to any assignment, Tenant’s primary liability hereunder shall continue notwithstanding (a) any subsequent amendment hereof, or (b) Landlord’s forbearance in
enforcing against Tenant any obligation or liability, without notice to Tenant, to each of which Tenant hereby consents in advance. If any such amendment operates to increase the obligations of Tenant under this Lease, the liability under this
Section 15.2 of the assigning Tenant shall continue to be no greater than if such amendment had not been made (unless such party shall have expressly consented in writing to such amendment). 
 Section 15.3 
 (A) For
purposes of this Article 15, (i) the transfer of a majority of the issued and outstanding capital stock of any corporate tenant, or of a corporate subtenant, or the transfer of a majority of the total interest in any partnership tenant
or subtenant, or the transfer of control in 

  

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any general or limited liability partnership tenant or subtenant, or the transfer of a majority of the issued and outstanding membership interests in a
limited liability company tenant or subtenant, however accomplished, whether in a single transaction or in a series of related or unrelated transactions, involving the tenant, subtenant and/or its parent (including, without limitation, and by way of
example only, the transfer of a majority of the outstanding capital stock of a company, which company owns 100% of a second tier company, which in turn owns 51% of the outstanding capital stock of a corporate tenant hereunder), shall be deemed an
assignment of this Lease, or of such sublease, as the case may be, except that the transfer of the outstanding capital stock of any corporate tenant, subtenant or parent, shall be deemed not to include the sale of such stock by persons or parties,
other than those deemed “affiliates” of Tenant within the meaning of Rule 144 promulgated under the Securities Act of 1933, as amended, through the “over-the-counter market” or through any recognized stock exchange, (ii) any
increase in the amount of issued and/or outstanding capital stock of any corporate tenant, or of a corporate subtenant, or such tenant’s or subtenant’s parent, or of the issued and outstanding membership interests in a limited liability
company tenant or subtenant, or such tenant’s or subtenant’s parent, and/or the creation of one or more additional classes of capital stock of any corporate tenant or any corporate subtenant, or such tenant’s or subtenant’s
parent, in a single transaction or a series of related or unrelated transactions involving the tenant, subtenant and/or its parent, resulting in a change in the legal or beneficial ownership of such tenant, subtenant or parent so that the
shareholders or members of such tenant, subtenant or parent existing immediately prior to such transaction or series of transactions shall no longer own a majority of the issued and outstanding capital stock or membership interests of such entity,
shall be deemed an assignment of this Lease, (iii) an agreement by any other person or entity, directly or indirectly, to assume Tenant’s obligations under this Lease shall be deemed an assignment, (iv) any person or legal
representative of Tenant, to whom Tenant’s interest under this Lease passes by operation of law, or otherwise, shall be bound by the provisions of this Article 15, (v) a material modification, material amendment or extension of a
sublease shall be deemed a sublease, and (vi) the change or conversion of Tenant from an entity in which the partners or members have personal liability to a limited liability company, a limited liability partnership or any other entity which
possesses the characteristics of limited liability shall be deemed an assignment. Tenant agrees to furnish to Landlord on request at any time such information and assurances as Landlord may reasonably request that neither Tenant, nor any previously
permitted subtenant, has violated the provisions of this Article 15. 
 (B) The provisions of clauses (a), (c) and
(d) of Section 15.1 shall not apply to (and Landlord’s consent shall not be required for) (i) a change in ownership of Tenant as a result of a merger, consolidation or reorganization or the sale of substantially all of
Tenant’s assets (provided such merger, consolidation, reorganization or transfer of assets is for a good business purpose and not principally for the purpose of transferring the leasehold estate created by this Lease, and provided further, that
the assignee has a net worth at least equal to or in excess of the net worth of Tenant as of the date immediately prior to such merger, consolidation, reorganization or transfer); (ii) the sale, exchange, issuance or other transfer of
Tenant’s stock on a national stock exchange; or (iii) the assignment of this Lease or sublease of all or any portion of the Premises to, or the use of the Premises by, an entity which controls, is controlled by or is under the common
control of Tenant (i.e., a parent, subsidiary or affiliate). Tenant shall give 

  

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Landlord Notice before any such transaction is consummated, unless such prior Notice violates any securities laws or regulatory requirements applicable to
Tenant, in which event Tenant shall give Landlord Notice of any such transaction promptly after Tenant is permitted to do so. Landlord shall not be entitled to exercise its recapture rights set forth in this Article 15 or to any share of
profits pursuant to Sections 15.5 or 15.6 in connection with any transaction described in this clause (B). 
 (C) The term “control” as used in this Lease (i) in the case of a corporation shall mean ownership of more than fifty (50%) percent of the outstanding capital stock of that corporation, (ii) in the case of a general
or limited liability partnership, shall mean more than fifty (50%) percent of the general partnership or membership interests of the partnership, (iii) in the case of a limited partnership, shall mean more than fifty (50%) percent of
the general partnership interests of such limited partnership, and (iv) in the case of a limited liability company, shall mean more than fifty (50%) percent of the membership interests of such limited liability company. 
 Section 15.4 
 (A) If
Landlord shall not exercise its rights pursuant to paragraph (B)(x) or (y) or (D) of this Section 15.4, Landlord shall not unreasonably withhold, condition or delay its consent to a proposed subletting of the Premises, or an
assignment of this Lease (and shall provide Tenant with Landlord’s reasons for any disapproval), provided that in each such instance, the following requirements shall have been satisfied (if Tenant proposes a partial sublet, references in this
Section 15.4 to the Premises shall, unless the context otherwise requires, refer to such portion): 
 (1) in the
case of a proposed subletting, the listing or advertising for subletting of the Premises shall not have included a proposed rental rate, provided, however, that Tenant may quote in writing directly to prospective subtenants the proposed rental rate;

 (2) no Event of Default shall have occurred and be continuing; 
 (3) the proposed subtenant or assignee shall have a financial standing, be engaged in a business, and propose to use the Premises in a
manner in keeping with the standards in such respects of the other tenancies in the Building; 
 (4) provided that Landlord
then has comparably-sized space available for lease in the Building or reasonably expects to have comparably-sized space available for lease in the Building within the following eight month period, the proposed subtenant or assignee shall not be
(x) a Person with whom Landlord is then actively negotiating the leasing of space in the Building, which shall be evidenced by the issuance of a proposed term sheet or offer by Landlord or its agent or by the proposed subtenant or assignee or
its broker; or (y) a tenant in or occupant of the Building or any Person that, directly or indirectly, is controlled by, controls or is under common control with any such tenant or occupant; 
 (5) omitted; 
  

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 (6) any subletting shall be expressly subject to all of the terms, covenants, conditions
and obligations on Tenant’s part to be observed and performed under this Lease and any assignment or subletting shall be subject to the further condition and restriction that this Lease or the sublease shall not be further assigned, encumbered
or otherwise transferred or the subleased premises further sublet by the subtenant in whole or in part, or any part thereof suffered or permitted by the assignee or subtenant to be used or occupied by others, without the prior written consent of
Landlord in each instance, which consent shall be governed by all of the applicable provisions of this Article 15 (including Section 15.3), and if Landlord shall consent to any further subletting by the subtenant or the assignment
of the sublease, Sections 15.5 and 15.6 of this Lease shall apply to any such transactions as if the further subletting or assignment of the sublease were a proposed subletting or assignment being made by Tenant under this Lease so
that Landlord shall be entitled to receive all amounts described in such Sections; 
 (7) the subleased premises shall be
regular in shape and at no time shall there be more than three (3) occupants with separately demised space for each full floor, including Tenant, in the Premises, all of whom shall have direct access through existing public corridors to
elevators, fire stairs and core rest rooms. 
 (8) Tenant shall reimburse Landlord on demand for any reasonable costs that may
be incurred by Landlord in connection with said assignment or sublease, including, without limitation, any reasonable processing fees, attorneys’ fees and disbursements, and the reasonable costs of making investigations as to the acceptability
of the proposed assignee or subtenant; 
 (9) any sublease shall expressly provide that in the event of termination, re-entry
or dispossession of Tenant by Landlord under this Lease, Landlord may, at its option, take over all of the right, title and interest of Tenant as sublessor under such sublease, and such subtenant shall, at Landlord’s option, attorn to Landlord
pursuant to the then executory provisions of such sublease, except that Landlord shall not be (i) liable for any previous act or omission of Tenant under such sublease, (ii) subject to any offset that theretofore accrued to such subtenant
against Tenant, (iii) bound by any previous modification of such sublease or by any previous prepayment of more than one month’s rent unless previously approved by Landlord, (iv) bound by any covenant to undertake or complete or make
payment to or on behalf of a subtenant with respect to any construction of the Premises or any portion thereof demised by such sublease and (v) bound by any obligations to make any other payment to or on behalf of the subtenant, except for
services, repairs, maintenance and restoration provided for under the sublease to be performed after the date of such termination, reentry or dispossession by Landlord under this Lease and which Landlord is required to perform hereunder with respect
to the subleased space at Landlord’s expense; and 
 (10) The nature of the occupancy, the use and the manner of use of
the Premises by the proposed subtenant or assignee shall not impose on Landlord any requirements of the ADA in excess of those requirements imposed on Landlord in the absence of such proposed subtenant or assignee or such occupancy, use or manner of
use, unless such proposed subtenant or assignee shall have agreed to comply with each of such excess requirements. 
  

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 The forms of Landlord’s consent to a proposed assignment of this Lease or a proposed subletting of
all or a portion of the Premises shall be substantially in the forms annexed to this Lease as Schedules U and V, respectively, subject to modification where appropriate to take into account particular provisions of the assignment
instrument or the sublease. 
 (B) Should Tenant desire to assign this Lease or sublet the Premises or any portion thereof for
a term ending within one year of the Expiration Date, other than as contemplated by Section 15.3(B), Tenant shall give Notice (the “Sublease or Assignment Statement”) thereof to Landlord specifying the financial terms on
which Tenant is willing to assign this Lease or sublet the Premises or the applicable portion thereof and the effective date of such assignment or subletting, which shall be no less than forty (40) nor more than ninety (90) days after the
date of Tenant’s Notice to Landlord. Landlord shall have the following rights, exercisable within thirty (30) days after Landlord’s receipt of the Sublease or Assignment Statement (including any additional information reasonably
requested by Landlord): (x) in the case of an assignment of this Lease or a subletting of the entire Premises, to sublet (in its own name or that of its designee) the entire Premises from Tenant on the terms and conditions set forth in
paragraph (C) of this Section 15.4, or to terminate this Lease or to take an assignment of this Lease from Tenant or (y) in the case of a subletting of a portion of the Premises, to sublet (in its own name or that of its
designee) such portion of the Premises (the entire Premises sublet by Landlord (or its designee) pursuant to clause (x) or such portion of the Premises sublet by Landlord (or its designee) pursuant to this clause (y) being referred to as
the “Recapture Space”) from Tenant on the terms and conditions set forth in paragraph (C) of this Section 15.4, or to terminate this Lease with respect only to the Recapture Space or (z) to approve or
disapprove the proposed assignment or sublease in accordance with the provisions of Section 15.4 (A). If Landlord shall fail to give Tenant Notice within said thirty (30) day period of Landlord’s intention to exercise its
rights pursuant to clauses (x) or (y) of this Section 15.4(B), or to have approved or disapproved the transaction, Landlord shall be deemed to have not exercised its right to sublet or terminate or take an assignment of this
Lease and shall be deemed to have approved such transaction, provided that Tenant shall have sent Landlord a second request for approval by Notice containing the following language in eighteen-point print: “THIS IS A SECOND REQUEST FOR APPROVAL
OF THE PROPOSED [ASSIGNMENT] OR [SUBLETTING]. IF LANDLORD DOES NOT RESPOND TO THIS REQUEST WITHIN FIVE (5) BUSINESS DAYS, LANDLORD’S APPROVAL SHALL BE DEEMED GRANTED PURSUANT TO THE PROVISIONS OF THIS LEASE” and Landlord shall have
failed to respond within such time period. If pursuant to the exercise of any of Landlord’s options pursuant to this Section 15.4, this Lease is terminated as to only a portion of the Premises, then the Fixed Rent and Escalation
Rent shall be adjusted in proportion to the portion of the Premises affected by such termination. 
 (C) (1) If Landlord shall
exercise its option to sublet the Recapture Space, then, notwithstanding the terms contained in the Sublease or Assignment Statement, such sublease (a “Recapture Sublease”) to Landlord or its designee as subtenant (the
“Recapture Subtenant”) or assignee shall: 
 (a) be at a rental, at all times throughout the term of the
Recapture Sublease, equal to (if Tenant had proposed to sublet the Premises) the net rental that Tenant would have received (after deducting applicable expenses) from the subtenant had Landlord 

  

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consented to the sublease and received the Sublease Additional Rent under Section 15.5; 
 (b) otherwise be upon the same terms and conditions as those contained in the Sublease or Assignment Statement (other than, in the case
of an assignment, payment of consideration therefor to Tenant) and (except as modified by the Sublease or Assignment Statement) the terms and conditions contained in this Lease, except such as are irrelevant or inapplicable and except as otherwise
expressly set forth to the contrary in this paragraph (C); 
 (c) give the Recapture Subtenant the unqualified and
unrestricted right, without Tenant’s permission, to assign such sublease and to further sublet the Recapture Space or any part thereof and to make any and all changes, alterations, and improvements in and to the Recapture Space; 
 (d) provide in substance that any such changes, alterations, and improvements made in the Recapture Space may be removed, in whole or in
part, prior to or upon the expiration or other termination of the Recapture Sublease provided that any material damage and injury caused thereby shall be repaired. In no event shall Tenant be obligated to remove any changes, alterations or
improvements made in the Recapture Space by Recapture Subtenant; 
 (e) provide that (i) the parties to such Recapture
Sublease expressly negate any intention that any estate created under the Recapture Sublease be merged with any estate held by either of said parties, (ii) prior to the commencement of the term of the Recapture Sublease, Tenant, at its expense,
shall make such alterations as may be required or reasonably deemed necessary by the Recapture Subtenant to physically separate the Recapture Space from the balance of the Premises and to provide appropriate means of access thereto and to the public
portions of the balance of the floor such as toilets, janitor’s closets, telephone and electrical closets, fire stairs, elevator lobbies, etc., and (iii) at the expiration of the term of such Recapture Sublease, Tenant will accept the
Recapture Space in its then existing condition, broom clean; and 
 (f) provide that the Recapture Subtenant or occupant
shall use and occupy the Recapture Space for any purpose approved by Landlord (without regard to any limitation set forth in the Sublease or Assignment Statement). 
 (2) Until the termination of a Recapture Sublease, performance by Recapture Subtenant under a Recapture Sublease shall be deemed
performance by Tenant of any similar obligation under this Lease and Tenant shall not be liable for any default under this Lease or deemed to be in default hereunder if such default is occasioned by or arises from any act or omission of Recapture
Subtenant under the Recapture Sublease or is occasioned by or arises from any act or omission of any occupant under the Recapture Sublease. If Recapture Subtenant fails to pay Tenant rent under a Recapture Sublease, then Tenant may offset an equal
amount against the Rental payable under this Lease. During the Term of a Recapture Sublease, Landlord shall deliver to Tenant, upon Tenant’s request, a description of the Recapture Subtenant and all 

  

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financial information available from such Recapture Subtenant, including audited financial statements if such statements are prepared. 
 (3) If Recapture Subtenant is unable to give Tenant possession of the Recapture Space at the expiration of the term of the Recapture
Sublease by reason of the holding over or retention of possession of any tenant or other occupant, then (w) until the date upon which Recapture Subtenant gives Tenant possession of such Recapture Space free of occupancies, Recapture Subtenant
shall continue to pay all charges previously payable, and comply with all other obligations under the Recapture Sublease and the provisions of Section 15.4(C)(2) shall continue to apply, (x) neither the Expiration Date nor the
validity of this Lease shall be affected, (y) Tenant waives any rights under Section 223-a of the Real Property Law of New York, or any successor statute of similar import, to rescind this Lease and further waives the right to recover any
damages from Landlord or Recapture Subtenant that may result from the failure of Landlord to deliver possession of the Recapture Space at the end of the term of the Recapture Sublease, and (z) Recapture Subtenant, at Recapture Subtenant’s
expense, shall use its reasonable efforts to deliver possession of such Recapture Space to Tenant and in connection therewith, if necessary, shall institute and diligently and in good faith prosecute holdover and any other appropriate proceeding
against the occupant of such Recapture Space. Notwithstanding the foregoing, if Recapture Subtenant is unable to give Tenant possession of the Recapture Space at the Expiration Date, then provided that Tenant has complied with its obligation to
surrender the remainder of the Premises, if any, in accordance with the terms of this Lease, this Lease shall end as of the Expiration Date and Tenant shall not be liable for any costs incurred nor shall Tenant have any further obligations with
respect to the Recapture Space, other than any obligations under this Lease which accrued prior to the commencement of the term of the Recapture Sublease and which by their terms survive the expiration or earlier termination of this Lease.

 (4) The failure by Landlord to exercise its option under Section 15.4(B)(x) or (y) with respect to
any subletting or assignment shall not be deemed a waiver of such option with respect to any extension of such subletting or assignment or any subsequent subletting or assignment. 
 (D) Upon obtaining a proposed assignee or subtenant, upon terms satisfactory to Tenant, Tenant shall submit to Landlord in writing
(i) the name and business address of the proposed assignee or subtenant; (ii) in the case of a sublease, a description of the portion of the Premises to be sublet; (iii) the terms and conditions of the proposed assignment or
subletting, including the sublease rent or consideration payable for the assignment; (iv) the nature and character of the business and credit of the proposed assignee or subtenant, (v) current financial information with respect to the
proposed assignee or subtenant, including, without limitation, its most recent financial statements, certified by an independent certified public accountant if such financial statements are so certified (or, if not, certified by such entity’s
chief financial officer as being true and correct) and (vi) any other information that Landlord may reasonably request. If the term of or the financial terms of such subletting or assignment, when measured as a whole, are at least 5% more
favorable to the subtenant or the assignee than those offered to Landlord pursuant to Section15.4(B) of this Lease, Landlord shall have the further option, to be exercised within ten (10) Business Days from submission of the information
and documents referred to in the preceding sentence, to sublet (in its own name or that of its designee) the Recapture Space 

  

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from Tenant on the terms and conditions of Paragraph (C) of this Section 15.4, or to terminate this Lease with respect to the Recapture
Space, or to take an assignment of this Lease from tenant, as set forth in paragraph (B) of this Section 15.4. 
 (E) Tenant shall deliver to Landlord, within five (5) days after execution thereof by Tenant, but no less than ten (10) days prior to the effective date of the contemplated sublease or assignment, an original counterpart of any
executed sublease or instrument of assignment. 
 Section 15.5 If Tenant sublets any portion of the Premises to a Person in a transaction for
which Landlord’s consent is required, Landlord shall be entitled to and Tenant shall pay to Landlord, as Additional Rent (the “Sublease Additional Rent”), a sum equal to fifty (50%) percent of any rents, additional charges
and other consideration payable under the sublease to Tenant by the subtenant in excess of the Fixed Rent and Escalation Rent accruing during the term of the sublease in respect of the subleased space (at the rate per square foot payable by Tenant
under this Lease) pursuant to the terms of this Lease (including, but not limited to, sums paid for the sale or rental of Tenant’s Property and Alterations less, in the case of a sale thereof, the then net unamortized or undepreciated
cost thereof determined on the basis of Tenant’s federal income tax or federal information returns) and less the actual out-of-pocket expenses reasonably incurred by Tenant in connection with such sublease on account of brokerage
commissions, advertising expenses, legal fees, work contributions and the cost of work performed by Tenant to prepare the Premises for the subtenant’s occupancy, all amortized on a straight-line basis over the term of the sublease. Such
Sublease Additional Rent shall be payable as and when received by Tenant. 
 Section 15.6 If Tenant shall assign this Lease to a Person in a
transaction for which Landlord’s consent is required, Landlord shall be entitled to and Tenant shall pay to Landlord, as Additional Rent, an amount equal to fifty (50%) percent of all sums and other consideration paid to Tenant by the
assignee for or by reason of such assignment (including, but not limited to, sums paid for the sale or rental of Tenant’s Property and Alterations less, in the case of a sale thereof, the then net unamortized or undepreciated cost
thereof determined on the basis of Tenant’s federal income tax or federal information returns) and less the actual out-of-pocket expenses reasonably incurred by Tenant in connection with such assignment on account of brokerage
commissions, advertising expenses, legal fees, work contributions and the cost of work performed by Tenant to prepare the Premises for the assignee’s occupancy. Such Additional Rent shall be payable as and when received by Tenant from the
assignee. 
 Section 15.7 Landlord shall have no liability for brokerage commissions incurred with respect to any assignment of this Lease or
any subletting of all or any part of the Premises by or on behalf of Tenant. Tenant shall pay, and shall indemnify and hold Landlord harmless from and against, any and all cost, expense (including reasonable attorneys’ fees and disbursements)
and liability in connection with any compensation, commissions or charges claimed by any broker or agent with respect to any such assignment or subletting. 
  

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 Section 15.8 
 (A) Notwithstanding anything to the contrary contained in this Article 15, if Tenant subleases a portion of the Premises with
Landlord’s consent and such sublease constitutes a Qualifying Sublease (as defined below), Landlord shall, upon the request of Tenant, provided that no Event of Default shall then be continuing under this Lease, execute and deliver to the
subtenant, an agreement, substantially in the form annexed to this Lease as Schedule M, which shall not be recorded, stating, in substance, that so long as such subtenant shall not be in default of any of its obligations under the Qualifying
Sublease, beyond any applicable notice and grace period, such subtenant’s leasehold estate shall not be terminated or disturbed by reason of the termination of this Lease in the event of the default of Tenant hereunder, provided that
(i) such subtenant shall attorn to and recognize Landlord as the sublandlord under such Qualifying Sublease, (ii) such Qualifying Sublease shall require the payment of a pro-rata share of all Escalation Rent payable under Article 3
hereof, (iii) the Qualifying Sublease shall provide that, upon the recognition and attornment by the subtenant and Landlord, the subtenant shall thereafter be obligated to pay fixed annual rent equal to the greater of the Fixed Rent payable
under this Lease for such portion of the Premises covered by the Qualifying Sublease (prorated on a rentable square foot basis) and the fixed annual rent payable under the Qualifying Sublease and (iv) such subtenant shall agree that, to the
extent it enters into any modification, amendment or abridgement of such Qualifying Sublease which either extends the term or increases the obligations of the sublandlord thereunder in a material manner, without Landlord’s prior written
consent, such non-disturbance agreement shall automatically become null and void. 
 (B) Upon the attornment and recognition
referred to in the preceding sentence, the Qualifying Sublease shall continue in full force and effect as, or as if it were, a direct lease between Landlord and such subtenant upon all of the then executory terms, conditions and covenants as are set
forth in such Qualifying Sublease, except that Landlord shall not be (i) liable for any act, omission or default of any prior sublessor under such Qualifying Sublease or for the return of any security deposit unless actually received by
Landlord; (ii) subject to any offsets, claims or defenses which such subtenant might have against any prior sublessor under such Qualifying Sublease; (iii) bound by any fixed annual rent or Escalation Rent which such subtenant might have
paid to any prior sublessor for more than one month in advance; (iv) bound by any covenant to undertake or complete any construction of the Premises or any portion thereof demised by the sublease or to pay any sums to subtenant or to provide
any work allowance or contribution in connection therewith; (v) bound by any obligation to make any payment to the subtenant, except for services, repairs, maintenance and restoration provided for under the sublease to be performed after the
date of the termination of this Lease, it being expressly understood, however, that Landlord shall not be bound by any obligation to make payment to a subtenant with respect to construction performed by or on behalf of such subtenant in the
subleased portion of the Premises; (vi) bound by any waiver or forbearance under, or any amendment, modification, abridgement, cancellation or surrender of the sublease made without the written consent of Landlord; or (vii) bound by any
agreement to provide a free rent period under the sublease. Tenant shall promptly deliver to Landlord a copy of any modification, amendment or abridgment of such Qualifying Sublease, or any cancellation or surrender of the same. 
  

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 (C) Tenant shall reimburse Landlord within thirty (30) days after demand for any
out-of-pocket reasonable costs incurred by Landlord in connection with the granting of a non-disturbance agreement under this Section 15.8, including without limitation, the costs of making investigations as to whether or not the
particular sublease is a Qualifying Sublease and all reasonable legal costs incurred in connection with the granting of any requested non-disturbance agreement. 
 (D) A “Qualifying Sublease” is a sublease entered into with Landlord’s prior written consent in accordance with this
Article 15, to a subtenant which is a bona fide third party, which is not an affiliate of Tenant and which meets the Non-disturbance Net Worth Test, of not less than two entire floors of the Premises, provided that the floors included in the
sublease shall start with the lowest or highest floor (which has not been previously sublet by Tenant) in any group of floors leased by Tenant at the time of its request for Landlord’s consent. 
 (E) The “Non-disturbance Net Worth Test” shall mean that the subtenant (and/or any guarantor of the subtenant’s
obligations under the Qualifying Sublease) shall have a net worth in excess of a sum equal to twenty (20) times the greater of the following amounts (the “Applicable Qualifying Sublease Rental”): (i) the Fixed Rent and
Escalation Rent payable under this Lease during the year in which the Qualifying Sublease in question is executed and delivered for such portion of the Premises covered by such Qualifying Sublease (prorated on a rentable square foot basis) and
(ii) the fixed or base rent and all other fixed charges under the Qualifying Sublease in question and an estimate of the escalations, if any, payable under the Qualifying Sublease during the first year of the term of such sublease, as evidenced
by the subtenant’s (and/or the guarantor’s) separate unconsolidated audited financial statements with a clean and unqualified auditor’s opinion, and dated not more than fifteen (15) months prior to the date submitted to Landlord,
delivered to Landlord along with Tenant’s request for a non-disturbance agreement (which audited financial statement shall relate to the subtenant’s and/or guarantor’s immediately preceding fiscal year). Notwithstanding the foregoing,
the Non-disturbance Net Worth Test can also be met by the delivery of a security deposit in the form of a letter of credit meeting the requirements of Article 40, in the amount of one-tenth of any deficiency in net worth, but in no event
shall the subtenant have a net worth of less than fifteen (15) times the Applicable Qualifying Sublease Rental. 
 Section 15.9
Notwithstanding anything to the contrary contained in this Article 15, up to 15% of the rentable square feet of the Premises may be used or occupied by other individuals or entities not employed by Tenant so long as and to the extent such
individuals or entities have an ongoing business relationship with Tenant (“Permitted Occupants”) for use only as executive and general offices, without the consent of Landlord, provided that (A) Tenant shall have given prior
Notice to Landlord of such intended use and occupancy along with the name and address of each such Permitted Occupant and (B) no demising walls are installed in the Premises in connection with such occupancy (and there is no separate reception
area). Such occupancy shall not be subject to Landlord’s rights under Sections 15.4(A) and (B), 15.5 or 15.6 of this Lease but all other provisions of this Lease shall apply to such occupancy. The Permitted Occupants
shall have no rights against Landlord under this Lease. 
  

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 ARTICLE 16 
 ACCESS TO PREMISES 
 Section 16.1 
 (A) Tenant shall permit Landlord, Landlord’s agents and public utilities servicing the Building to erect, use and maintain ducts,
pipes and conduits in and through the Premises, provided same (i) do not unreasonably interfere with Tenant’s use or occupancy of the Premises, (ii) do not diminish the usable area of the Premises by more than a de minimis
amount, and (iii) comply with Section 16.1(C) below. Landlord or Landlord’s agents shall have the right to enter the Premises at all reasonable times upon (except in case of emergency) reasonable prior Notice, which notice may
be oral, to examine the same, to show the same to prospective purchasers, Mortgagees or Lessors or, within the last 18 months of the Term, of prospective tenants of space in the Building, and, upon reasonable prior Notice, to make such repairs,
alterations, improvements or additions (a) as Landlord may deem necessary or desirable to the Premises or to any other portion of the Building, or (b) which Landlord may elect to perform at least ten (10) Business Days after Notice
(except in an emergency when no Notice shall be required) following Tenant’s failure to make repairs or perform any work which Tenant is obligated to make or perform under this Lease, or (c) for the purpose of complying with Requirements,
and Landlord shall be allowed to take all material into (but not store) and upon the Premises that may be required therefor without the same constituting an eviction or constructive eviction of Tenant in whole or in part and the Fixed Rent (and any
other item of Rental) shall in no respect abate or be reduced by reason of said repairs, alterations, improvements or additions, wherever located, or while the same are being made, by reason of loss or interruption of business of Tenant, or
otherwise. Landlord shall promptly repair any damage caused to the Premises by such work, alterations, improvements or additions. 
 (B) Any work performed or installations made pursuant to this Article 16 shall be made with reasonable diligence and otherwise pursuant to Section 7.3. 
 (C) Any pipes, ducts, or conduits installed in or through the Premises pursuant to this Article 16 shall, if reasonably
practicable, either be concealed behind, beneath or within partitioning, columns, ceilings or floors located or to be located in the Premises, or completely furred at points immediately adjacent to partitioning, columns or ceilings located or to be
located in the Premises (except that, based upon the design of the Premises, condenser water piping may not be concealed but shall be run as close to the slab as feasible consistent with Laws and proper construction and engineering standards).

 (D) Notwithstanding anything to the contrary herein, from time to time during the Term of this Lease, Tenant shall have the
right to designate portions of the Premises, on at least ten (10) Business Days’ Notice to Landlord (each, a “Secured Area”), to be a secure and confidential area, which Tenant shall require to house sensitive information
or critical operations or the storage of securities and to which access shall be limited. Tenant shall provide Landlord with at least ten (10) Business Days’ Notice if Tenant wishes to change the location of any Secured Area within the
Premises. Provided that Tenant shall keep the Secured Area locked at 

  

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all times when it is not being used by Tenant and Tenant shall clearly identify the area as the Secured Area, Landlord shall only access the Secured Area
upon prior notice to Tenant and if accompanied by a representative of Tenant, which representative Tenant shall make available to Landlord upon reasonable Notice, except in the event of an emergency where there is an imminent threat to life or
property, in which event no prior Notice shall be required prior to any entry into a Secured Area. Landlord shall not be required to provide cleaning services in accordance with Section 28.1(E) to the Secured Area or any other services
that may require entry into the Secured Area, unless and until such entry is granted by Tenant. 
 Section 16.2 If Tenant is not present when
for any reason entry into the Premises may be necessary or permissible in the case of emergency (or for normal janitorial services performed during non-Operating Hours), Landlord or Landlord’s agents may enter the same without rendering
Landlord or such agents liable therefor (if during such entry Landlord or Landlord’s agents accord reasonable care to Tenant’s Property), and without in any manner affecting this Lease. 
 Section 16.3 Subject to Tenant’s rights under Article 31, Landlord also shall have the right at any time, without the same constituting an
actual or constructive eviction and without incurring any liability to Tenant therefor, to change the arrangement or location of entrances or passageways, doors and doorways, and corridors, elevators, stairs, toilets or other public parts of the
Building, provided any such change does not unreasonably interfere with, or deprive Tenant of access to, the Building or the Premises and, provided further, Landlord shall not permanently reduce the number of elevators servicing the Premises; to put
so-called “solar film” or other energy-saving installations on the inside and outside of the windows; and to change the name, number or designation by which the Building is commonly known. All parts (except surfaces facing the interior of
the Premises) of all walls, windows and doors bounding the Premises (including exterior Building walls, exterior core corridor walls, exterior doors and entrances), all balconies, terraces and roofs adjacent to the Premises, all space in or adjacent
to the Premises used for shafts, stacks, stairways, chutes, pipes, conduits, ducts, fan rooms, heating, air cooling, plumbing and other mechanical facilities, service closets and other Building facilities are not part of the Premises, and Landlord
shall have the use thereof, as well as access thereto through the Premises for the purposes of inspection, operation, maintenance, alteration and repair, subject to Landlord’s compliance with the provisions of this Article 16.

 ARTICLE 17 
 CERTIFICATE OF
OCCUPANCY 
 Section 17.1 Tenant shall not at any time use or occupy the Premises in violation of any certificate of occupancy issued for
the Premises or for the Building. In the event that any Government Authority hereafter contends or declares by notice, violation, order or in any other manner whatsoever that the Premises are used for a purpose that is a violation of such
certificate of occupancy, Tenant shall, upon three (3) Business Days’ Notice from Landlord or any Government Authority, immediately discontinue such use of the Premises; provided, however, 

  

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that nothing herein shall prevent Tenant from contesting such violation pursuant to and in accordance with the provisions of Section 9.5.

 ARTICLE 18 
 DEFAULT

 Section 18.1 Each of the following events shall be an “Event of Default” under this Lease: 
 (A) if Tenant shall on any occasion default in the payment when due of any installment of Fixed Rent or in the payment when due of any
other item of Rental and such default shall continue for six (6) Business Days after Landlord shall have given Tenant Notice of such default (provided that such period shall be extended to fifteen (15) Business Days with respect to the
first installment of Fixed Rent attributable to floors 2 through 5, 11 and 12 and/or 7, 8 and 9); or 
 (B) if the Premises
shall be abandoned by Tenant; or 
 (C) if Tenant’s interest in this Lease shall devolve upon or pass to any person,
whether by operation of law or otherwise, except as expressly permitted under Article 15 hereof; or 
 (D) (1) if
Tenant shall not, or shall be unable to, or shall admit in writing Tenant’s inability to, as to any obligation, pay Tenant’s debts as they become due; or 
 (2) if Tenant shall commence or institute any case, proceeding or other action (a) seeking to adjudicate it a bankrupt or insolvent,
or seeking reorganization, arrangement, adjustment, winding-up, liquidation, dissolution, composition or other relief with respect to Tenant or Tenant’s debts under any existing or future law of any jurisdiction, domestic or foreign, relating
to bankruptcy, insolvency, reorganization or relief of debtors, or (b) seeking appointment of a receiver, trustee, custodian or other similar official for it or for all or any substantial part of its property; or 
 (3) if Tenant shall make a general assignment for the benefit of creditors; or 
 (4) if any case, proceeding or other action shall be commenced or instituted against Tenant (a) seeking to adjudicate Tenant a
bankrupt or insolvent, or seeking reorganization, arrangement, adjustment, winding-up, liquidation, dissolution, composition or other relief with respect to Tenant or Tenant’s debts under any existing or future law of any jurisdiction, domestic
or foreign, relating to bankruptcy, insolvency, reorganization or relief of debtors, or (b) seeking appointment of a receiver, trustee, custodian or other similar official for Tenant or for all or any substantial part of Tenant’s property,
which either (i) results in any such entry of an order for relief, adjudication of bankruptcy or insolvency or such an appointment or 

  

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the issuance or entry of any other order having a similar effect or (ii) remains undismissed for a period of ninety (90) days; or 
 (5) if a trustee, receiver or other custodian shall be appointed for any substantial part of the assets of Tenant which appointment is not
vacated or effectively stayed within ninety (90) days; or 
 (6) if Tenant rejects this Lease in connection with any
action or proceeding under the Bankruptcy Code; or 
 (E) if Tenant shall default in the observance or performance of any
other term, covenant or condition of this Lease on Tenant’s part to be observed or performed and Tenant shall fail to remedy such default within 30 days after Notice by Landlord to Tenant of such default, or if such default is of such a nature
that it cannot with due diligence be completely remedied within said period of 30 days and the continuation of which for the period required for cure will not subject Landlord to the risk of criminal liability or termination of any Superior Lease or
foreclosure of any Mortgage, if Tenant shall not, (i) within said 30 day period advise Landlord of Tenant’s intention duly to institute all steps necessary to remedy such situation, (ii) duly institute within said 30 day period, and
thereafter diligently and continuously prosecute to completion all steps necessary to remedy the same and (iii) complete such remedy within such time after the date of the giving of said Notice by Landlord as shall reasonably be necessary.

 Section 18.2 If an Event of Default shall occur, Landlord may, at any time thereafter (unless such Event of Default has been remedied or
waived by Landlord), at Landlord’s option, give Notice to Tenant stating that this Lease and the Term shall expire and terminate on the date specified in such Notice, which date shall not be less than five (5) days after the giving of such
Notice, whereupon this Lease and the Term and all rights of Tenant under this Lease shall automatically expire and terminate as if the date specified in the Notice given pursuant to this Section 18.2 were the Fixed Expiration Date and
Tenant immediately shall quit and surrender the Premises, but Tenant shall remain liable for damages as provided herein or pursuant to law. Anything contained herein to the contrary notwithstanding, if such termination shall be stayed by order of
any court having jurisdiction over any proceeding described in Section 18.1(F), or by federal or state statute, then, following the expiration of any such stay, or if the trustee appointed in any such proceeding, Tenant or Tenant as
debtor-in-possession fails to assume Tenant’s obligations under this Lease within the period prescribed therefor by law or within one hundred twenty (120) days after entry of the order for relief or as may be allowed by the court, or if
said trustee, Tenant or Tenant as debtor-in-possession shall fail to provide adequate protection of Landlord’s right, title and interest in and to the Premises or adequate assurance of the complete and continuous future performance of
Tenant’s obligations under this Lease, Landlord, to the extent permitted by law or by leave of the court having jurisdiction over such proceeding, shall have the right, at its election, to terminate this Lease on five (5) days’ Notice
to Tenant, Tenant as debtor-in-possession or said trustee and upon the expiration of said five (5) day period this Lease shall cease and expire as aforesaid and Tenant, Tenant as debtor-in-possession or said trustee shall immediately quit and
surrender the Premises as aforesaid. 
  

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 Section 18.3 If, at any time, (i) Tenant shall consist of two (2) or more persons, or
(ii) Tenant’s obligations under this Lease shall have been guaranteed by any person other than Tenant, or (iii) Tenant’s interest in this Lease has been assigned, the word “Tenant” as used in
Section 18.1(F), shall be deemed to mean any one or more of the persons primarily or secondarily liable for Tenant’s obligations under this Lease. Any monies received by Landlord from or on behalf of Tenant during the pendency of
any proceeding of the types referred to in Section 18.1(F) shall be deemed paid as compensation for the use and occupancy of the Premises and the acceptance of any such compensation by Landlord shall not be deemed an acceptance of Rental
or a waiver on the part of Landlord of any rights under Section 18.2. 
 ARTICLE 19 
 REMEDIES AND DAMAGES 
 Section 19.1

 (A) If any Event of Default shall occur, or this Lease and the Term shall expire and come to an end as provided in
Article 18: 
 (1) Tenant shall quit and peacefully surrender the Premises to Landlord, and Landlord and its agents may
immediately, or at any time after such Event of Default or after the date upon which this Lease and the Term shall expire and come to an end, re-enter the Premises or any part thereof, either by summary proceedings, or by any other applicable legal
action or legal proceeding (without being liable to indictment, prosecution or damages therefor), but excluding by force, and may repossess the Premises and dispossess Tenant and any other persons from the Premises by summary proceedings or
otherwise (excluding by force) and remove any and all of their property and effects from the Premises (and Tenant shall remain liable for damages as provided herein or pursuant to law); and 
 (2) Landlord, at Landlord’s option, may relet the whole or any part or parts of the Premises from time to time, either in the name of
Landlord or otherwise, to such tenant or tenants, for such term or terms ending before, on or after the Fixed Expiration Date, at such rent or rentals and upon such other conditions, which may include concessions and free rent periods, as Landlord,
in Landlord’s sole discretion, may determine; provided, however, that Landlord shall have no obligation to relet the Premises or any part thereof and shall in no event be liable for refusal or failure to relet the Premises or any part thereof,
or, in the event of any such reletting, for refusal or failure to collect any rent due upon any such reletting, and no such refusal or failure shall operate to relieve Tenant of any liability under this Lease or otherwise affect any such liability,
and Landlord, at Landlord’s option, may make such Alterations, in and to the Premises as Landlord, in Landlord’s sole discretion, shall consider advisable or necessary in connection with any such reletting or proposed reletting, without
relieving Tenant of any liability under this Lease or otherwise affecting any such liability. 
 (B) Tenant hereby waives the
service of any notice of intention to re-enter or to institute legal proceedings to that end that may otherwise be required to be given under any present or future law. Tenant, on its own behalf and on behalf of all persons claiming through or

  

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under Tenant, including all creditors, does further hereby waive any and all rights that Tenant and all such persons might otherwise have under any present
or future law to redeem the Premises, or to re-enter or repossess the Premises, or to restore the operation of this Lease, after (a) Tenant shall have been dispossessed by a judgment or by warrant of any court or judge, or (b) any re-entry
by Landlord, or (c) any expiration or termination of this Lease and the Term, whether such dispossess, re-entry, expiration or termination is by operation of law or pursuant to the provisions of this Lease. The words “re-entry”,
“re-enter” and “re-entered” as used in this Lease shall not be deemed to be restricted to their technical legal meanings. In the event of a breach or threatened breach by Tenant, or any persons claiming through or under Tenant,
of any term, covenant or condition of this Lease, Landlord shall have the right to enjoin such breach and the right to invoke any other remedy allowed by law or in equity as if re-entry, summary proceedings and other special remedies were not
provided in this Lease for such breach. The right to invoke the remedies hereinbefore set forth are cumulative and shall not preclude Landlord from invoking any other remedy allowed at law or in equity. 
 Section 19.2 
 (A) If this
Lease and the Term shall expire and come to an end as provided in Article 18, or by or under any summary proceeding or any other action or proceeding, or if Landlord shall re-enter the Premises as provided in Section 19.1, or by
or under any summary proceeding or any other action or proceeding, then, in any of said events: 
 (1) Tenant shall pay to
Landlord all Fixed Rent, Escalation Rent, other Additional Rent and other items of Rental payable under this Lease by Tenant to Landlord to the date upon which this Lease and the Term shall have expired and come to an end or to the date of re-entry
upon the Premises by Landlord, as the case may be; 
 (2) Tenant also shall be liable for and shall pay to Landlord, as
damages, any deficiency (“Deficiency”) between the Rental for the period which otherwise would have constituted the unexpired portion of the Term and the net amount, if any, of rents collected under any reletting effected pursuant
to the provisions of Section 19.1(A)(2) for any part of such period (after first deducting from the rents collected under any such reletting all of Landlord’s expenses in connection with the termination of this Lease,
Landlord’s reentry upon the Premises and such reletting including, but not limited to, all repossession costs, brokerage commissions (apportioned based on the ratio between the unexpired Term of this Lease and any new lease of the Premises by
Landlord to a third party, if longer than the unexpired Term of this Lease), attorneys’ fees and disbursements, alteration costs and other expenses of preparing the Premises for such reletting); any such Deficiency shall be paid in monthly
installments by Tenant on the days specified in this Lease for payment of installments of Fixed Rent; Landlord shall be entitled to recover from Tenant each monthly Deficiency as the same shall arise, and no suit to collect the amount of the
Deficiency for any month shall prejudice Landlord’s right to collect the Deficiency for any subsequent month by a similar proceeding; and 
 (3) whether or not Landlord shall have collected any monthly Deficiency as aforesaid, Landlord shall be entitled to recover from Tenant, and Tenant shall pay to Landlord, on demand, in lieu of any further Deficiency
as and for liquidated and agreed final damages, a 

  

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sum equal to the amount by which the unpaid Rental for the period which otherwise would have constituted the unexpired portion of the Term exceeds the then
fair and reasonable rental value of the Premises for the same period, both discounted to present worth at the Base Rate; if, before presentation of proof of such liquidated damages to any court, commission or tribunal, the Premises, or any part
thereof, are relet by Landlord for the period which otherwise would have constituted the unexpired portion of the Term, or any part thereof, the amount of rent reserved upon such reletting shall be deemed, prima facie, to be evidence of the fair and
reasonable rental value for the part or the whole of the Premises so relet during the term of the reletting. 
 (B) If the
Premises, or any part thereof, shall be relet together with other space in the Building, the rents collected or reserved under any such reletting and the expenses of any such reletting shall be equitably apportioned for the purposes of this
Section 19.2. Tenant shall in no event be entitled to any rents collected or payable under any reletting, whether or not such rents exceed the Fixed Rent reserved in this Lease. Solely for the purposes of this Article 19, the term
“Escalation Rent” as used in Section 19.2(A) shall mean the Escalation Rent in effect immediately prior to the Expiration Date, or the date of re-entry upon the Premises by Landlord, as the case may be, adjusted to
reflect any increase pursuant to the provisions of Article 3 hereof for the Operating Year immediately preceding such event. Nothing contained in Article 18 or this Article 19 shall be deemed to limit or preclude the recovery by
Landlord from Tenant of the maximum amount allowed to be obtained as damages by any statute or rule of law, or of any sums or damages to which Landlord may be entitled in addition to the damages set forth in this Section 19.2.

 ARTICLE 20 
 FEES AND
EXPENSES 
 Section 20.1 If (i) an Event of Default shall occur under this Lease, or (ii) Tenant fails to comply with its
obligations under this Lease and Landlord in its good faith determination believes that there is, as a direct result, a material and imminent threat to the preservation of property or the safety of any tenant, occupant or other person, Landlord may
(1) perform the same for the account of Tenant and shall give Tenant Notice after such performance, or (2) make any expenditure or incur any obligation for the payment of money in connection with any obligation owed to Landlord, including,
but not limited to, reasonable attorneys’ fees and disbursements in instituting, prosecuting or defending any action or proceeding, and in either case the cost thereof, with interest thereon at the Applicable Rate, shall be deemed to be
Additional Rent hereunder and shall be paid by Tenant to Landlord within thirty (30) days after rendition of any bill or statement to Tenant therefor accompanied by reasonable evidence thereof. 
 Section 20.2 If Tenant shall fail to pay any installment of Fixed Rent, Additional Rent or any other item of Rental for a period longer than five
(5) days after the same shall have become due, Tenant shall pay to Landlord, in addition to such installment of Fixed Rent, Additional Rent or other item of Rental, as the case may be, as a late charge and as Additional Rent, a sum equal to
three (3%) percent of the amount unpaid. If Tenant shall fail to pay any installment of Fixed 

  

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Rent, Additional Rent or any other item of Rental for a period longer than 10 days after the same shall have become due, Tenant shall pay to Landlord, in
addition to such installment of Fixed Rent, Additional Rent or other item of Rental, as the case may be, and in addition to the late charge payable by Tenant pursuant to the preceding sentence, as a late charge and as Additional Rent, a sum equal to
interest at the Applicable Rate on the amount unpaid. All late charges payable by Tenant hereunder shall be computed from the date such payment was due (without regard to any grace period set forth in this Section 20.2), to and including
the date of payment. Notwithstanding the foregoing, (i) in the first instance only during each twelve (12) consecutive month period during the Term, no late charge shall be payable unless and until the applicable payment is not paid within
three (3) Business Days after the date that Landlord gives Tenant a Notice that such payment is due and (ii) the late charge described in the first sentence of this Section 20.2 shall not apply to the first three late payments
during any twelve (12) consecutive month period. 
 ARTICLE 21 
 NO REPRESENTATIONS BY LANDLORD 
 Section 21.1 Landlord and Landlord’s
agents have made no representations, warranties or promises with respect to the Building, the Real Property or the Premises except as herein expressly set forth, and no rights, easements or licenses are acquired by Tenant by implication or otherwise
except as expressly set forth herein. Tenant shall accept possession of the Premises in its “as is” but broom-clean condition on the Commencement Date, and vacant and free of occupants, with Landlord’s Work Substantially Completed to
the extent required under Article 38, and except that Tenant acknowledges that it is in possession of the 2nd
through 5th floors and the 11th and 12th floors of the Building and that Landlord shall not be
obligated to deliver such space vacant, free of occupants or broom-clean. Subject to the performance of Landlord’s Work, Landlord shall have no obligation to perform any work or make any installations in order to prepare the Premises for
Tenant’s occupancy. The taking or continuation of occupancy of the whole or any part of the Premises by Tenant shall be conclusive evidence, as against Tenant, that Tenant accepts possession of the same and that the Premises and the Building
were in good and satisfactory condition at the time such occupancy was so taken and that the Premises were substantially as shown on Schedule A, but subject to the performance by Landlord of the items on Tenant’s Punchlist. The foregoing
is not intended to relieve Landlord from its ongoing repair obligations under this Lease. All references in this Lease to the consent or approval of Landlord shall be deemed to mean the written consent or approval executed by Landlord and no other
consent or approval of Landlord shall be effective for any purpose whatsoever. 
 ARTICLE 22 
 END OF TERM 
 Section 22.1 Upon the
expiration or other termination of this Lease, Tenant shall quit and surrender to Landlord the Premises, vacant, broom clean, in good order and condition, ordinary wear and tear excepted, and Tenant shall remove all of Tenant’s Alterations to
the 

  

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extent required pursuant to Article 6. Tenant shall also remove all of Tenant’s Property and all other personal property and personal effects of
all persons claiming through or under Tenant, and shall pay the cost of repairing all damage to the Premises and the Real Property occasioned by such removal. Any Tenant’s Property or other personal property that remains in the Premises after
the termination of this Lease shall be deemed to have been abandoned and either may be retained by Landlord as its property or may be disposed of in such manner as Landlord may see fit. If such Tenant’s Property or other personal property or
any part thereof is sold, Landlord may receive and retain the proceeds of such sale as the property of Landlord. Any expense incurred by Landlord in removing or disposing of such Tenant’s Property or other personal property or Alterations
required to be removed as provided in Article 6, as well as the cost of repairing all damage to the Building or the Premises caused by such removal, shall be reimbursed to Landlord by Tenant, as Additional Rent, on demand. 
 Section 22.2 If the Expiration Date falls on a day which is not a Business Day, then Tenant’s obligations under Section 22.1 shall be
performed on or prior to the immediately preceding Business Day. 
 Section 22.3 Tenant expressly waives, for itself and for any person
claiming through or under Tenant, any rights that Tenant or any such person may have under the provisions of Section 2201 of the New York Civil Practice Law and Rules and of any similar or successor law of like import then in force in
connection with any holdover proceedings that Landlord may institute to enforce the provisions of this Article. 
 Section 22.4 If the
Premises are not surrendered within 45 days after the expiration or other termination of this Lease, Tenant hereby indemnifies Landlord against liability or expense (including any consequential damages but excluding punitive damages) resulting from
delay by Tenant in so surrendering the Premises, including any claims made by any succeeding tenant or prospective tenant founded upon such delay and agrees to be liable to Landlord for (i) any payment or rent concession which Landlord may be
required to make to any tenant obtained by Landlord for all or any part of the Premises in order to induce such tenant not to terminate its lease by reason of the holding-over by Tenant and (ii) the loss of the benefit of the bargain if any
such tenant shall terminate its lease by reason of the holding-over by Tenant. Landlord shall give Tenant Notice if Landlord enters into a lease of the Premises with a third party. Landlord’s rights under this Section 22.4 are in
addition to the holdover rental payable by Tenant under Section 39.7. 
 Section 22.5 Tenant’s obligations under this
Article shall survive the expiration or termination of this Lease. 
 ARTICLE 23 
 POSSESSION 
 Section 23.1 If Landlord shall be unable to deliver possession of
the Premises on the Commencement Date or any additional space to be included within the Premises on the specific date (if any) designated in this Lease for any reason whatsoever, Landlord shall not be subject to 

  

 67 

 
any liability therefor and the validity of this Lease shall not be impaired thereby, but the Commencement Date shall be postponed until five
(5) Business Days following notice from Landlord that the Premises or such additional space, as the case may be, are available for occupancy by Tenant. If the existing tenant of floors 7, 8 and 9 holds over after the expiration of its lease
term, Landlord, at its expense, shall use commercially reasonable efforts, which shall include the prompt commencement and diligent prosecution of an eviction action against such holdover tenant, to obtain possession of such portion of the Premises.
In addition, to the extent Landlord collects any holdover rental (exclusive of electricity) from such existing tenant in excess of the Fixed Rent and Escalation Rent that Tenant would have been obligated to pay Landlord for the corresponding period
under this Lease, Landlord shall pay Tenant one-half of such excess, after first recovering the expenses incurred by Landlord in connection with such holdover proceeding. Tenant expressly waives any right to rescind this Lease under
Section 223-a of the New York Real Property Law or under any present or future statute of similar import then in force and further expressly waives the right to recover any damages that may result from Landlord’s failure to deliver
possession of the Premises or such additional space on the specific date (if any) designated for the commencement of the Term. Tenant agrees that the provisions of this Article 23 are intended to constitute “an express provision to the
contrary” within the meaning of said Section 223-a. 
 ARTICLE 24 
 NO WAIVER 
 Section 24.1 No act or thing done by Landlord or Landlord’s
agents during the Term shall be deemed an acceptance of a surrender of the Premises, and no agreement to accept such surrender shall be valid unless in writing signed by Landlord. No employee of Landlord or of Landlord’s agents shall have any
power to accept the keys to the Premises prior to the termination of this Lease. The delivery of keys to any employee of Landlord or of Landlord’s agents shall not operate as a termination of this Lease or a surrender of the Premises. If Tenant
shall at any time desire to have Landlord sublet the Premises for Tenant’s account, Landlord or Landlord’s agents are authorized to receive the keys for such purpose without releasing Tenant from any of the obligations under this Lease,
and Tenant hereby relieves Landlord of any liability for loss of or damage to any of Tenant’s effects in connection with such subletting. 
 Section 24.2 The failure of either party to seek redress for violation of, or to insist upon the strict performance of, any covenant or condition of this Lease, or, in the case of Landlord, any of the Rules and Regulations, shall not
prevent a subsequent act, which would have originally constituted a violation, from having all of the force and effect of an original violation. The receipt by Landlord or payment by Tenant of Fixed Rent, Additional Rent or any other item of Rental
with knowledge of the breach of any covenant of this Lease shall not be deemed a waiver of such breach. The failure of Landlord to enforce any of the Rules and Regulations against Tenant or any other tenant in the Building shall not be deemed a
waiver of any such Rules and Regulations. Except as expressly provided to the contrary in this Lease, no provision of this Lease shall be deemed to have been waived by Landlord or Tenant, unless such waiver shall be in writing and shall be signed by
the waiving party. No payment by Tenant or receipt by 

  

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Landlord of a lesser amount than the Rental then due and payable shall be deemed to be other than on account of the earliest item(s) of Rental, or as
Landlord may elect to apply the same, nor shall any endorsement or statement on any check or any letter accompanying any check or payment be deemed an accord and satisfaction, and Landlord may accept such check or payment without prejudice to
Landlord’s right to recover the balance due of the Rental or pursue any other remedy in this Lease provided. This Lease contains the entire agreement between the parties and all prior negotiations and agreements are merged herein. Any executory
agreement hereafter made shall be ineffective to change, discharge or effect an abandonment of this Lease in whole or in part unless such executory agreement is in writing and signed by the party against whom enforcement of the change, discharge or
abandonment is sought. 
 ARTICLE 25 
 WAIVER OF TRIAL BY JURY 
 Section 25.1 Landlord and Tenant shall and they hereby do waive trial by jury in any action,
proceeding or counterclaim brought by either of them against the other on any matters whatsoever arising out of or in any way connected with this Lease, the relationship of Landlord and Tenant, Tenant’s use or occupancy of the Premises, whether
during or after the Term, or for the enforcement of any remedy under any statute, emergency or otherwise. If Landlord shall commence any summary proceeding against Tenant, Tenant will not interpose any counterclaim of whatever nature or description
in any such proceeding (unless failure to impose such counterclaim would preclude Tenant from asserting in a separate action the claim which is the subject of such counterclaim), and will not seek to consolidate such proceeding with any other action
which may have been or will be brought in any other court by Tenant or Landlord. 
 ARTICLE 26 
 INABILITY TO PERFORM 
 Section 26.1
Except as expressly provided to the contrary in this Lease, this Lease and the obligation of Tenant to pay Rental hereunder and to perform all of the other covenants and agreements hereunder on the part of Tenant to be performed shall in no way be
affected, impaired or excused because Landlord is unable to fulfill any of Landlord’s obligations under this Lease, expressly or implicitly to be performed by Landlord, or because Landlord is unable to make or is delayed in making any repairs,
additions, alterations, improvements or decorations, or is unable to supply or is delayed in supplying any services, equipment or fixtures, if Landlord is prevented from or delayed in so doing by reason of acts of God, casualty, strikes or labor
troubles, accident, acts of war, terrorism, bioterrorism (i.e., the release or threatened release of an airborne agent that may adversely affect the Building or its occupants), governmental preemption in connection with an emergency, Laws,
conditions of supply and demand which have been or are affected by war, terrorism, bioterrorism or other emergency, or any other cause whatsoever, whether similar or dissimilar to the foregoing, beyond Landlord’s reasonable control
(“Unavoidable Delays”). 
  

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 Section 26.2 Tenant shall not be liable for any failure or delay in performing its obligations under this
Lease, except for the payment of any Rental, if Tenant is prevented from or delayed in so doing by reason of acts of God, casualty, strikes or labor troubles, accident, acts of war, terrorism, bioterrorism (as described above), governmental
preemption in connection with an emergency, Laws, conditions of supply and demand which have been or are affected by war, terrorism, bioterrorism or other emergency or any other cause whatsoever, whether similar or dissimilar to the foregoing,
beyond Tenant’s reasonable control. The inability of Tenant to pay for goods or services or to meet its debts shall not excuse Tenant from performing its obligations under this Lease. 
 ARTICLE 27 
 BILLS AND NOTICES 
 Section 27.1 
 (A) Except as
otherwise expressly provided in this Lease, any bills, statements, consents, notices, demands, requests or other communications given or required to be given under this Lease (“Notice(s)”) shall be in writing and shall be deemed
sufficiently given or rendered only if delivered by hand (against a signed receipt), by a recognized overnight courier service (with a signed receipt) or if deposited in a securely fastened, postage prepaid envelope in a depository that is regularly
maintained by the U.S. Postal Service, sent by registered or certified mail (return receipt requested) and in any case addressed: 
 if to Tenant (a) at the Building, Attention: FACILITIES MANAGER, or at any place where Tenant or any agent or employee of Tenant may be found if given subsequent to Tenant’s vacating, deserting, abandoning or surrendering such
address, with simultaneous copies as follows: 
  

	 	(i)	DIGITAS INC. 

 33 Arch Street 

Boston, MA 02110 
 Attention: Alan Wallach, 
  

	 	(ii)	DIGITAS INC. 

 230 East Avenue 

Norwalk, CT 06855 
 Attention: Michelle Russo 
 Vice President 
 Director of Real Estate and Corporate Services 
  

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 And 
  

	 	(iii)	Mintz, Levin, Cohn, Ferris, Glovsky and Popeo P.C. 

 One Financial Center 
 Boston, MA 02111 
 Attention: Stuart A. Offner, Esq. 
 if to Landlord, at Landlord’s address set forth in this Lease, Attn: General Counsel, with simultaneous copies to each of 
  

	 	(i)	RFR Realty LLC 

 390 Park Avenue

 New York, New York 10022 
 Attn: President, 
  

	 	(ii)	Brown Raysman Millstein Felder & Steiner LLP 

 900 Third Avenue 
 New York, New York 10022 
 Attention: Raymond A. Sanseverino, Esq., 
 And 
  

	 	(iii)	any Mortgagee or Lessor who may have requested the same, by Notice given in accordance with the provisions of this Article 27, at the address designated by such Mortgagee or
Lessor. 

 Landlord or Tenant may designate new address(es) by Notice given to the other in accordance with the
provisions of this Article 27. 
 (B) Notices shall be deemed to have been rendered or given (i) on the Business
Day delivered, if delivered by hand or by recognized overnight courier service, prior to 5:00 p.m. of such Business Day, or if delivered on a day other than a Business Day or after 5:00 p.m. on any day, then on the next Business Day following such
delivery, or (ii) three (3) Business Days after the date mailed, if mailed as provided in Section 27.1(A). Notice given by counsel for either party on behalf of such party or by the Manager on behalf of Landlord shall be deemed
valid notices if addressed and sent in accordance with the provisions of this Article. 
 Section 27.2 Notwithstanding the provisions of
Section 27.1, Notices requesting services for Overtime Periods pursuant to Article 28 may be given by delivery to the Building superintendent or any other person in the Building designated by Landlord to receive such Notices.

  

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 ARTICLE 28 
 SERVICES AND EQUIPMENT 
 Section 28.1 Landlord shall, at Landlord’s expense: 
 (A) Provide passenger elevator service to the Premises on Business Days during Operating Hours and, subject to Section 28.3,
have two passenger elevators on call at all other times. Tenant agrees that Landlord may, at its election, install elevators with or without operators and may change the same from time to time as long as, subject to Section 28.3,
Landlord does not reduce the number of passenger elevators serving the Premises on the date of this Lease or reduce the number of passenger elevators on call during other than Operating Hours below two passenger elevators. 
 (B) Provide one (1) freight elevator serving the Premises on call on a “first come, first served” basis on Business Days
from 8:00 a.m. to 5:00 p.m., and on a reservation, “first come, first served” basis from 5:00 p.m. to 8:00 a.m. on Business Days and at any time on days other than Business Days. 
 (C) Furnish and distribute air-conditioning to the Premises, through the HVAC System, during Operating Hours and on Saturdays from 8:00
a.m. to 1:00 p.m., air-conditioning as needed to conform with Schedule O, and heat and/or ventilation as needed to conform with Schedule O from October 15 through April 30. Tenant shall pay Landlord for such
Saturday service at the rates set forth in Schedule Q attached hereto. Landlord, at Tenant’s expense, shall construct a new mechanical equipment room on the fourth floor of the Premises simultaneously with the performance of the work
described in Section 38.1(H). Tenant shall reimburse Landlord for Landlord’s actual out-of-pocket costs in performing such work. In addition, specifications for the doors to all mechanical equipment rooms to be installed by Landlord
are annexed to this Lease as Schedule O-1. Tenant shall draw and close the draperies or blinds for the windows of the Premises whenever the ventilation or air-conditioning system is in operation and the position of the sun so requires and
shall, at all times, reasonably cooperate with Landlord and abide by all of the Rules and Regulations which Landlord may prescribe for the proper functioning of the HVAC System. Subject to the provisions of this Section 28.1(C), the HVAC
System shall perform in accordance with the specifications set forth in Schedule O annexed to this Lease. Tenant expressly acknowledges that some or all windows are or may be hermetically sealed and will not open and Landlord makes no
representation as to the habitability of the Premises at any time the HVAC System is not in operation. Landlord will not be responsible for the failure of the HVAC System if such failure results from the occupancy of the Premises by more than an
average of one person for each 100 square feet of usable area or if Tenant uses in excess of six (6) watts connected load of electricity per rentable square foot. Landlord, throughout the Term, shall have free access to all mechanical
installations of Landlord, including but not limited to air-cooling, heating equipment, fan, ventilating and machine rooms and electrical closets, and Tenant shall not construct or place partitions, furniture or other obstructions that may interfere
with Landlord’s access thereto on the terms and conditions contained in Article 16 or the proper functioning of Building Systems, or interfere with the moving of Landlord’s equipment to and from the enclosures containing said
installations. Neither Tenant nor its agents, employees or 

  

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contractors shall at any time enter the said enclosures or tamper with, adjust, touch or otherwise in any manner affect said mechanical installations.
Landlord shall not be in violation of this Section 28.1(C) if the hours during which Landlord may supply HVAC to the Premises are limited or restricted by Laws applicable to Landlord or the Building. 
 (D) Furnish cold water through a water riser to the Premises for ordinary drinking, cleaning, pantry and lavatory purposes. Landlord shall
also provide hot water to service the core restrooms on each floor of the Premises through independent hot water heaters installed by Landlord. If Tenant requires, uses or consumes water for any other purposes, Tenant agrees that Tenant shall
install a meter or meters or other means to measure Tenant’s water consumption, and Tenant further agrees to pay for the cost of the meter or meters and the installation thereof, and to pay for the cost to maintain said meter equipment and/or
to pay Landlord’s cost of other means of measuring such water consumption by Tenant. In such event, Tenant shall reimburse Landlord for Landlord’s out-of-pocket cost, plus 4%, of all water consumed (including costs of generating hot water)
as measured by said meter or meters or as otherwise measured, including sewer rents, as Additional Rent within thirty (30) days after bills are rendered. 
 (E) Provided Tenant shall keep the Premises in order, Landlord, at Landlord’s expense, shall cause the Premises, and excluding any
portions thereof used as security areas or used for the storage, preparation, service or consumption of food or beverages, to be cleaned on Business Days in accordance with the cleaning specifications annexed to this Lease as Schedule D. If,
however, any additional cleaning of the Premises is to be done by Tenant, it shall be done at Tenant’s sole expense, and no one other than persons approved by Landlord shall be permitted to enter the Premises or the Building for such purpose.
Tenant shall either contract directly with the cleaning contractor for the Building or Tenant shall pay to Landlord the commercially reasonable cost of removal of any of Tenant’s refuse and rubbish from the Premises and the Building (i) to
the extent that the same, in any one day, exceeds the average daily amount of refuse and rubbish usually attendant upon the use of such Premises as offices, as described and included in Landlord’s cleaning contract for the Building and
(ii) related to or deriving from the preparation or consumption of food or drink. Bills for the same shall be rendered by Landlord to Tenant monthly and shall be due and payable as Additional Rent within thirty (30) days after the time
rendered. Tenant shall cause all portions of the Premises used for the storage, preparation, service or consumption of food or beverages to be cleaned daily in a manner reasonably satisfactory to Landlord, and to be treated against infestation by
vermin, rodents or roaches, whenever there is evidence of any infestation. If Landlord shall have implemented a Building wide extermination program, or is using the Building cleaning contractor to perform extermination service in the Building,
Tenant shall use such contractor (provided its rates are commercially reasonable) and shall not permit any other person to enter the Premises or the Building for the purpose of providing such extermination services. If so requested by Landlord,
Tenant, at Tenant’s expense, shall store any refuse generated by the consumption of food or beverages on the Premises in a cold box or similar facility. 
 (F) If any sprinkler system installed in the Building or any of its appurtenances are damaged or injured or not in proper working order by
reason of any act or omission of Tenant or of Persons Within Tenant’s Control, Tenant shall forthwith restore the same to good 

  

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working condition at Tenant’s expense; and if the New York Board of Fire Underwriters or the New York Insurance Rating Organization or any Government
Authority requires or recommends that any changes, modifications, alterations or additional sprinkler heads or other equipment be made or supplied by reason of Tenant’s business, or the location of the partitions, trade fixtures, or other
contents of the Premises, Tenant shall, at Tenant’s expense, promptly make and supply such changes, modifications, alterations, additional sprinkler heads or other equipment (pursuant to submission of necessary engineering plans and
specifications for Landlord’s approval). 
 (G) Subject to the Rules and Regulations, Tenant (and its employees,
permitted subtenants and occupants, and invitees) shall have access to the Premises 24 hours per day seven (7) days per week. 
 (H) Furnish and distribute to the Building lobbies presently known as the 355 Lobby (hereinafter defined) and the 345 Lobby, through the HVAC System during Operating Hours, air-conditioning from May 1 through October 14 and heat
or ventilation (as needed) from October 15 through April 30. The “345 Lobby” shall mean the ground floor lobby of the Building at 345 Park Avenue South. 
 Section 28.2 The Fixed Rent does not reflect or include any charge to Tenant for the furnishing of any necessary freight elevator facilities or HVAC to
the Premises during periods (“Overtime Periods”) other than the hours and days set forth above. Accordingly, if Landlord furnishes any such freight elevator facilities or HVAC to the Premises at the request of Tenant during Overtime
Periods, and on Saturdays as set forth in Section 28.1, Tenant shall pay Landlord Additional Rent for such services at the rates described below. As of the date of this Lease, Landlord’s standard charges for building services are
set forth in Schedule Q annexed to this Lease, which charges shall increase only to the extent of any increase in the component of such hourly charge attributable to Landlord’s actual costs. Notwithstanding the foregoing, provided
Tenant has scheduled such use with Landlord, Tenant without charge, may use the freight elevator during Overtime Periods for up to eight hours for each floor of the Premises, in blocks of at least four hours each, during the performance by Tenant of
its Initial Alterations and move into the Premises. Landlord shall not be required to furnish any such services during any Overtime Periods unless Landlord has received advance notice from Tenant requesting such services prior to 2:00 p.m. of the
day upon which such services are requested or by 2:00 p.m. of the last preceding Business Day if such Overtime Periods are to occur on a day other than a Business Day. If Tenant fails to give Landlord such advance notice, then failure by Landlord to
furnish or distribute any such services during such Overtime Periods shall not constitute an actual or constructive eviction, in whole or in part, or entitle Tenant to any abatement or diminution of Rental, or relieve Tenant from any of its
obligations under this Lease, or impose any liability upon Landlord or its agents by reason of inconvenience or annoyance to Tenant, or injury to or interruption of Tenant’s business or otherwise, provided that Landlord shall nevertheless use
reasonable efforts to accommodate Tenant’s request. 
 Section 28.3 (A) Landlord reserves the right to stop the furnishing of the
Building services and to stop service of the Building Systems, when necessary, by reason of accident, or emergency, or, after reasonable prior Notice to Tenant, for Alterations in the judgment of Landlord desirable or necessary to be made, until
said Alterations shall have been completed; 

  

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and, subject to clause (B) of this Section 28.3, Landlord shall have no responsibility or liability for failure to supply air-conditioning,
ventilation, heat, elevator, plumbing, electric, or other services during said period or when prevented from so doing by strikes, lockouts, labor troubles, difficulty of obtaining materials, accidents or by any cause beyond Landlord’s
reasonable control, or by Laws or failure of electricity, water, steam, coal, oil or other suitable fuel or power supply, or inability by exercise of reasonable diligence to obtain electricity, water, steam, coal, oil or other suitable fuel or
power. Except as otherwise expressly provided in this Lease, including, without limitation, in clause (B) of this Section 28.3, no diminution or abatement of rent or other compensation shall or will be claimed by Tenant as a result
therefrom, nor shall this Lease or any of the obligations of Tenant be affected or reduced by reason of such interruption, curtailment or suspension, nor shall the same constitute an actual or constructive eviction. Landlord shall act diligently to
restore Building services and service of the Building Systems after any stoppage under this Section 28.3 that is within Landlord’s reasonable control, including performing any such work on an overtime basis at Landlord’s cost
if Tenant, in good faith, advises Landlord that such stoppage is unreasonably interfering with Tenant’s access to the Premises or the conduct of Tenant’s normal business operations in the Premises. Without limiting events that may
constitute “any cause beyond Landlord’s reasonable control,” the following are items which Landlord and Tenant agree are beyond Landlord’s reasonable control: 
 (1) Lack of access to the Building or the Premises (which shall include, but not be limited to, the lack of access to the Building or the
Premises when it or they are structurally sound but inaccessible due to evacuation of the surrounding area or damage to nearby structures or public areas); 
 (2) any cause outside the Building; 
 (3) Reduced air quality or other contaminants within
the Building that would adversely affect the Building or its occupants (including, but not limited to, the presence of biological or other airborne agents within the Building or the Premises); 
 (4) Disruption of mail and deliveries to the Building or the Premises resulting from a casualty; 
 (5) Disruption of telephone and telecommunications services to the Building or the Premises resulting from a casualty; or 
 (6) Blockages of any windows, doors, or walkways to the Building or the Premises resulting from a casualty. 
 (B) If, by reason of Landlord’s failure to (i) provide the electricity or other utilities elsewhere is this Lease required to be
provided by Landlord under Article 4 and such failure is due to the wrongful act or omission of Landlord or its agents, employees or contractors or (ii) make repairs required to be made by Landlord pursuant to this Lease, or
(iii) provide the services required to be provided by Landlord under this Article 28 or (iv) perform alterations or improvements to the Building in a manner conforming with the provisions of Section 7.3 of this Lease
(such required electrical services or required repairs or required services obligations or 

  

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manner of performance being referred to individually and/or collectively as “Critical Services”), and as a result thereof a portion of the
Premises (other than a de minimis portion) is rendered untenantable for the conduct of Tenant’s business and Tenant ceases to use such portion of the Premises for the conduct of its business, and Landlord’s failure to provide
such Critical Services continues unremedied for more than seven (7) consecutive days after Tenant gives written notice to Landlord of such failure and the fact that a portion of the Premises (other than a de minimis portion) has
been rendered untenantable for the conduct of Tenant’s business by reason of such Landlord failure and that Tenant shall have ceased using such portion of the Premises for the conduct of its business, then the Fixed Rent and the Escalation Rent
shall be abated during the time that such portion remains so untenantable and unused by reason of such Landlord failure to provide such Critical Services after such seventh (7th) day, apportioned according to the rentable area of the Premises
so rendered untenantable and unused. Nothing contained in this Section 28.3(B) is intended to, or shall be deemed to, make any event described in or contemplated by Articles 13, 14 or 26 or
Section 28.3(A) or any event resulting from an act or omission of Tenant or Persons Within Tenant’s Control, a Landlord failure to provide Critical Services. If Landlord and Tenant dispute whether the Premises (or applicable
portion) has been rendered untenantable for Tenant’s normal business purposes due to Landlord’s failure to provide Critical Services, either party may submit such dispute to expedited arbitration pursuant to Section 39.22 of
this Lease. 
 Section 28.4 Tenant agrees to reasonably cooperate with Landlord, and to abide by all reasonable requirements which Landlord
may prescribe, to ensure the effective and energy-efficient operation of the Building, and for the proper protection and functioning of its Building Systems and the furnishing of the Building services; provided, however, that such cooperation shall
not entail any unreasonable interference with Tenant’s use or occupancy of, or access to, the Premises or entail more than a de minimis cost to Tenant. Tenant further agrees to reasonably cooperate with Landlord in any conservation
effort pursuant to a program or procedure promulgated or recommended by the public utility serving the Building, or ASHRAE or any Requirements. 
 Section 28.5 Landlord shall have no obligation to clean, repair, replace or maintain any “private” plumbing fixtures or facilities (i.e., plumbing fixtures and facilities located outside of the core restrooms). 

Section 28.6 Subject to all of the provisions of this Lease governing Alterations, including, but not limited to, the submission of plans and
specifications and the obtaining of Landlord’s consent to same as required under Article 6, Tenant, at Tenant’s sole cost and expense, shall have the right to install an air-cooled supplemental air conditioning system (with louvers)
in the Premises (“Tenant’s Supplemental A/C System”). During the Term, Tenant, at Tenant’s sole cost and expense, shall maintain and repair Tenant’s Supplemental A/C System. Landlord shall, at Tenant’s cost (to
be reimbursed to Landlord within thirty (30) days after demand), install a meter to measure the electricity required to operate Tenant’s Supplemental A/C System (or Landlord may connect Tenant’s Supplemental A/C System to the
submeters referred to in Article 4) and Tenant shall pay for the cost of such electricity as shown on such meter within fifteen (15) days after receipt of each bill therefor in accordance with the provisions of Article 4. Landlord
shall provide Tenant, at no cost to Tenant, with all reasonable and 

  

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non-exclusive access to the shafts and risers in the Building for Tenant’s installation, removal, replacement, repair, maintenance and operation therein
of lines, cables and other installations for telecommunications purposes. Landlord and Tenant each acknowledges that, depending upon the location of Tenant’s computer room, Tenant may be required to install telecommunications conduits in the
stairwells (or an alternate location designated by Landlord) from the sixth (6th) floor of the Premises to a
higher floor in the Premises where Tenant’s computer room may be located, necessitated by virtue of one of the shaftways where Tenant is permitted to run conduits terminating on the sixth (6th) floor of the Building. Accordingly, Landlord will not unreasonably withhold, condition or delay its consent to Tenant, at Tenant’s cost and
expense, installing any such conduits in the stairwell (or such alternate location) for such purpose. An such installation shall be governed by Article 6 of this Lease as if such installation were an Alteration hereunder. 
 Section 28.7 Landlord, at Tenant’s request, shall discuss with Tenant any reasonable security concerns that Tenant may have with respect to the
Building, including the implementation of enhanced training for security personnel in the lobby of the Building and permitting Tenant to station its own security personnel in the lobby, and Landlord shall implement Tenant’s recommendations,
provided that Tenant agrees to pay any incremental costs therefor. 
 Section 28.8 If Tenant is dissatisfied with the costs or level or
quality of service provided by any of the Building service providers or vendors, then Tenant may give Landlord Notice thereof, setting forth in reasonable detail the nature of the deficiency. Landlord, at Tenant’s request, shall cause
representatives of Landlord’s or the Manager’s upper management and representatives of the upper management of such service provider or vendor, to meet with Tenant’s designated representatives to resolve such issues, so that the
costs, level and quality of services conform to the applicable provisions of this Lease. If, despite such meetings and repeated complaints, problems with a particular service provider or vendor shall persist, Landlord may determine to (but shall not
be obligated to) put the particular service provider’s or vendor’s contract out to bid with other like-qualified providers or vendors. Landlord and Tenant shall act reasonably and in good faith in connection with any action taken by such
party under this Section 28.8. If Landlord determines not to put the service provider’s or vendor’s contract out to bid, and such problems still persist, Tenant may deliver to Landlord a Notice (a “Cure
Notice”), again setting forth in reasonable detail the nature of the deficiency, provided that such Cure Notice shall be limited to purported deficiencies in performance by the cleaning and/or security contractor for the Building. If, upon
receipt of the Cure Notice, Landlord believes that Tenant is not acting reasonably and in good faith or that such contractor’s performance meets the standards set forth in this Lease, Landlord may refer the dispute to expedited arbitration
under Section 39.22 of this Lease. Otherwise, upon Landlord’s receipt of the Cure Notice, Landlord and Tenant shall meet to draft a proposed request for services and/or bid package for the cleaning and/or security contractor, and
Landlord shall put such service provider’s or vendor’s contract out to bid to not less than three (3) like-qualified providers or vendors. Bids for such services (“Service Bids”) shall be delivered to both Landlord
and Tenant. Upon receipt of the Service Bids, representatives of Landlord and Tenant shall meet to review the Service Bids, and attempt to resolve such issues, whether by substitution of the service provider or vendor or by retaining the services of
the existing provider or vendor if such provider or vendor shall agree to perform the required services. The final decision as to the selection or retention of the service provider or 

  

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vendor shall be made by Landlord acting reasonably. In no event shall Landlord be obligated to deliver, at its expense, a higher level of service than
Landlord is required to deliver under this Lease. If Tenant believes that Landlord is not acting reasonably, either party may refer the dispute to expedited arbitration under Section 39.22 of this Lease. 
 ARTICLE 29 
 PARTNERSHIP TENANT

 Section 29.1 If Tenant is a partnership, or is comprised of two (2) or more persons, individually or as co-partners of a
partnership (any such partnership and such persons are referred to in this Article 29 as “Partnership Tenant”), or if Tenant’s interest in this Lease shall be assigned to a Partnership Tenant, the following provisions
shall apply to such Partnership Tenant: (a) the liability of each of the parties comprising Partnership Tenant shall be joint and several; (b) each of the parties comprising Partnership Tenant hereby consents in advance to, and agrees to
be bound by (i) any written agreement that may hereafter be executed by Partnership Tenant or any successor entity, changing, extending or discharging this Lease, in whole or in part, or surrendering all or any part of the Premises to Landlord,
and (ii) any Notices that may hereafter be given by Partnership Tenant or by any of the parties comprising Partnership Tenant; (c) any Notices given or rendered to Partnership Tenant or to any of such parties shall be binding upon
Partnership Tenant and all such parties; (d) if Partnership Tenant admits new partners, all of such new partners shall, by their admission to Partnership Tenant, be deemed to have assumed joint and several liability for the performance of all
of the terms, covenants and conditions of this Lease on Tenant’s part to be observed and performed; (e) Partnership Tenant shall give prompt notice to Landlord of the admission of any such new partners, and upon demand of Landlord, shall
cause each such new partner to execute and deliver to Landlord an agreement in form satisfactory to Landlord, wherein each such new partner assumes joint and several liability for the performance of all the terms, covenants and conditions of this
Lease on Tenant’s part to be observed and performed (but neither Landlord’s failure to request any such agreement nor the failure of any such new partner to execute or deliver any such agreement to Landlord shall vitiate the provisions of
clause (d) of this Article 29); and (f) any present or future partner of Partnership Tenant who is no longer a partner of Partnership Tenant at the time of any default under this Lease shall, nevertheless, remain liable for the
obligations of Tenant under this Lease, as if any such partner had been a partner of Partnership Tenant on the date of such default. The provisions of this Article 29 shall be inapplicable to the Tenant named in this Lease and to its
corporate successors under Section 15.3(B). 
 ARTICLE 30 
 VAULT SPACE 
 Section 30.1 Notwithstanding anything contained in this Lease or
indicated on any sketch, blueprint or plan, any vaults, vault space or other space outside the boundaries of the Real Property are not included in the Premises. Landlord makes no representation as to the location of the boundaries of the Real
Property. All vaults and vault space and all other space 

  

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outside the boundaries of the Real Property which Tenant may be permitted to use or occupy are to be used or occupied under a revocable license, and if any
such license is revoked, or if the amount of such space is diminished or required by any Government Authority or by any public utility company, such revocation, diminution or requisition shall not constitute an actual or constructive eviction, in
whole or in part, or entitle Tenant to any abatement or diminution of Rental, or relieve Tenant from any of its obligations under this Lease, or impose any liability upon Landlord. Any fee, tax or charge imposed by any Government Authority for any
such vaults, vault space or other space occupied by Tenant shall be paid by Tenant. 
 ARTICLE 31 
 SIGNS 
 Section 31.1 The location,
size, materials, quality, design, color and lettering of any signs desired by Tenant shall be subject to the prior approval of Landlord (which Landlord shall not unreasonably withhold, condition or delay) and shall be subject to the terms of this
Article 31 and in compliance with the standards (if any) set forth in the Building Rules and Building Standards for Alterations, provided that Landlord’s approval shall not be required with respect to Tenant’s signage within the
interior of the Premises, except in the elevator lobbies of the Premises on any full floor solely occupied by Tenant, which are subject to Landlord’s approval and which approval shall not be unreasonably withheld, conditioned or delayed.
Tenant’s signs (including any exterior signs) consented to by Landlord shall not be changed by Tenant without Landlord’s prior written consent, which consent shall not be unreasonably withheld or delayed with respect to any changes in
Tenant’s corporate logo generally used by Tenant in its other locations. At Landlord’s option, Landlord may install any such signs, and Tenant shall pay all reasonable costs associated with such installation, as Additional Rent, within
thirty (30) days after demand therefor. 
 Section 31.2 So long as Tenant (and its affiliates and the Permitted Occupants) physically
occupy at least 161,760 rentable square feet of office space in the Building and subject to the rights of American Lawyer Media, Inc. as of the date of this Lease (a summary of which has previously been delivered to Tenant), Tenant shall have the
right to erect one sign identifying Tenant as an occupant of the Building on each of the exterior façade of the Building, the roof and in the lobby of the Building. Landlord approves the renderings (and specifications) of Tenant’s
Building lobby signage, as depicted in Schedule I annexed hereto. The location and rendering (including the specifications) of the exterior façade signage is depicted on Schedule J and is approved by Landlord. The location and
specifications of the roof signage is subject to Landlord’s reasonable approval. Tenant, at Tenant’s sole cost and expense, shall operate, maintain and repair any Tenant signs (including any exterior signs) that Tenant erects pursuant to
this Article 31 in a first class manner and in compliance with all applicable Laws. Tenant shall not have the right to affix items to the interior or exterior of the windows of the Premises. Tenant, at Tenant’s sole cost and expense,
shall remove the Tenant signs, including the exterior signs on or before the Fixed Expiration Date (or earlier termination of this Lease) or on such earlier date if Tenant no longer has such signage rights under this Section 31.2, and
shall repair any damage caused by the installation of such signs or such removal. As of the date of this 

  

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Lease, no other Person has any rights to erect signage on the exterior of the Building (other than retail tenants) or in the lobbies of the Building (other
than in the tenant directory) other than American Lawyer Media, Inc. So long as no Event of Default exists and Tenant (and its affiliates and the Permitted Occupants) physically occupy at least 161,760 rentable square feet of office space in the
Building, Landlord shall not hereafter grant to another tenant any signage rights in the lobby of the Building (other than in the tenant directory) or on the exterior of the Building, other than on the exterior of any retail space that may be leased
by such tenant. 
 Section 31.3 Tenant’s signage rights under this Article 31 are personal to Tenant named in this Lease (and to
any entity to which this Lease has been properly assigned in accordance with the provisions of Article 15), but may not otherwise be assigned or transferred in any manner or granted to a sublessee. 
 ARTICLE 32 
 BROKER 
 Section 32.1 Landlord represents and warrants to Tenant that Landlord has not dealt with any broker or Person in connection with this Lease other than
the Broker(s). Tenant represents and warrants to Landlord that Tenant has not dealt with any broker or Person in connection with this Lease other than the Broker(s). The execution and delivery of this Lease shall be conclusive evidence that the
parties have relied upon the foregoing representation and warranty. Landlord and Tenant shall indemnify and hold harmless the other party from and against any and all claims for commission, fee or other compensation by any Person (including the
Brokers with respect to Landlord’s indemnity to Tenant and excluding Broker(s) with respect to Tenant’s indemnity to Landlord) who claims to have dealt with the indemnitor in connection with this Lease and for any and all costs incurred by
the indemnitee in connection with such claims, including, without limitation, attorneys’ fees and disbursements. Landlord shall pay Broker their commissions pursuant to separate agreement. This provision shall survive the expiration or earlier
termination of this Lease. 
 ARTICLE 33 
 INDEMNITY 
 Section 33.1 Tenant shall not do or permit any act or thing to be done upon the Premises or the Real Property
that may subject any Indemnitee to any liability or responsibility for injury, damage to persons or property or to any liability by reason of the existence or application of, compliance with or violation of any Requirement, but shall exercise such
control over the Premises as to protect each Indemnitee fully against any such liability and responsibility. Tenant shall indemnify and save harmless the Indemnitees from and against (a) all claims of whatever nature against the Indemnitees
arising from any act, omission or negligence of Tenant or Persons Within Tenant’s Control, (b) all claims against the Indemnitees arising from any accident, injury or damage whatsoever caused to any person or to the property of any person
and occurring in or about the Premises during the Term or during Tenant’s occupancy of the Premises, unless and to 

  

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the extent caused by the act, omission or negligence of Landlord, the Manager or the principals, officers, employees, agents or contractors of either,
(c) all claims against the Indemnitees arising from any accident, injury or damage occurring outside of the Premises but anywhere within or about the Real Property, where such accident, injury or damage results or is claimed to have resulted
from an act, omission or negligence of Tenant or Persons Within Tenant’s Control, and (d) any breach, violation or non-performance of any covenant, condition or agreement contained in this Lease to be fulfilled, kept, observed and
performed by Tenant. This indemnity and hold harmless agreement shall include indemnity from and against any and all liability, fines, suits, demands, costs and expenses of any kind or nature (including, without limitation, reasonable
attorneys’ fees and disbursements) incurred in or in connection with any such claim or proceeding brought thereon, and the defense thereof, and all collection costs (including, without limitation, reasonable attorneys’ fees and
disbursements) incurred by Landlord in enforcing this indemnity provision against Tenant, but shall be offset to the extent of any insurance proceeds collected by the Indemnitees under policies covering the Indemnitees. In addition, the foregoing
indemnity shall exclude consequential damages, other than as set forth in Section 22.4. 
 Section 33.2 Except to the extent
otherwise expressly limited in this Lease, Landlord shall indemnify and save Tenant harmless from and against (a) all claims of whatever nature against Tenant and its shareholders, officers, directors, employees, agents and contractors
(“Tenant Indemnitees”) arising from any willful misconduct or negligence of Landlord, the Manager, or their agents, servants, contractors, licensees or employees, (b) all claims against the Tenant Indemnitees arising from any
accident, injury or damage whatsoever caused to any person or to the property of any person and occurring within or about the Real Property to the extent such accident, injury or damage results or is claimed to have resulted from the willful
misconduct or negligence of Landlord, the Manager, or any of their agents, servants, contractors, licensees or employees and (c) any breach, violation or non-performance of any covenant, condition or agreement contained in this Lease to be
fulfilled, kept, observed and performed by Landlord. This indemnity and hold harmless agreement shall include indemnity from and against any and all liability, fines, suits, demands, costs and expenses of any kind of nature (including, without
limitation, reasonable attorneys’ fees and disbursements) incurred in or in connection with any such claims or proceeding brought thereon, and the defense thereof, and all collection costs (including, without limitation, reasonable
attorneys’ fees and disbursements) incurred by the Tenant in enforcing this indemnity provision against Landlord, but shall be offset to the extent of any insurance proceeds collected by the Tenant Indemnitees under policies covering the Tenant
Indemnitees. In addition, the foregoing indemnity shall exclude consequential damages. 
 Section 33.3 If any claim, action or proceeding is
made or brought against (i) any Indemnitee, against which claim, action or proceeding Tenant is obligated to indemnify such Indemnitee pursuant to the terms of this Lease, or (ii) any Tenant Indemnitee against which claim, action or
proceeding Landlord is obligated to indemnify such Tenant Indemnitee pursuant to the terms of this Lease, then, upon demand by the Indemnitee or Tenant Indemnitee (as the case may be), the applicable indemnitor, at its sole cost and expense, shall
resist or defend such claim, action or proceeding in the Indemnitee’s or Tenant’s Indemnitee’s name if necessary, by such attorneys as the indemnitor may select, subject to the Indemnitee’s or Tenant’s Indemnitee’s
reasonable consent. Notwithstanding the foregoing, an Indemnitee or a Tenant 

  

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Indemnitee may retain its own attorneys to defend or assist in defending any claim, action or proceeding involving potential liability of Seven Million Five
Hundred Thousand Dollars ($7,500,000) or more, and the indemnitor shall pay the reasonable fees and disbursements of such attorneys. The provisions of this Article 33 shall survive the expiration or earlier termination of this Lease.

 ARTICLE 34 
 ADJACENT
EXCAVATION; SHORING 
 Section 34.1 If an excavation shall be made upon land adjacent to the Building, or shall be authorized to be made,
Tenant shall, upon reasonable advance Notice, afford to the person causing or authorized to cause such excavation, license to enter upon the Premises for the purpose of doing such work as said person shall deem necessary to preserve the walls of the
Building from injury or damage and to support the same by proper foundations without any claim for eviction or constructive eviction, damages or indemnity against Landlord, or diminution or abatement of Rental, provided that Tenant continues to have
access to the Premises. 
 ARTICLE 35 
 OPTION TO CANCEL 
 Section 35.1 Provided that (i) an Event of Default under this Lease shall not then be continuing and
(ii) this Lease shall be in full force and effect at all times mentioned below, and (iii) Tenant shall not have assigned its interest in this Lease in a transaction requiring Landlord’s consent, Tenant shall have the one-time right to
cancel this Lease effective as of the twelfth anniversary of the First Commencement Date (the “Cancellation Option Termination Date”), provided that Tenant shall have given Landlord, at least eighteen (18) months prior to the
Cancellation Option Termination Date, a Notice (the “Cancellation Notice”) of Tenant’s cancellation of this Lease effective as of the Cancellation Option Termination Date. As a condition of the effective cancellation of this
Lease, Tenant shall have paid Landlord, an amount equal to (x) the unamortized costs incurred and paid by Landlord in connection with this Lease for (a) brokerage commissions, (b) free rent, (c) the cost of Landlord’s Work
and the Tenant Improvement Allowance and (d) legal fees, all amortized on a straight-line basis over the originally scheduled Term, at an annual interest rate of 8% plus (y) an amount equal to six (6) months of Fixed Rent and
Escalation Rent payable at the rates in effect as of the Cancellation Option Termination Date (collectively, the “Cancellation Payment”). Upon Tenant’s request, Landlord shall deliver to Tenant an itemized list of such costs
incurred by Landlord and, where applicable, evidence of such costs. One-half of the Cancellation Payment shall be paid simultaneously with the giving of the Cancellation Notice and the balance of the Cancellation Payment shall be paid no later than
six months after the giving of the Cancellation Notice. Time is of the essence with respect to the giving of the Cancellation Notice by Tenant and the payment of each installment of the Cancellation Payment by Tenant by the dates set forth above.
Upon the timely giving of the Cancellation Notice and the timely payment of the Cancellation 

  

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Payment, the Term of this Lease shall expire on the Cancellation Option Termination Date as if such date were the Fixed Expiration Date and neither party
shall have any further rights or obligations under this Lease except for such rights and obligations which expressly survive the termination or expiration of the Term of this Lease. 
 ARTICLE 36 
 RENT REGULATION 
 Section 36.1 If at any time or times during the Term of this Lease, the Rental reserved in this Lease is not fully collectible by reason of any Law,
Tenant shall enter into such agreements and take such other steps (without additional expense to Tenant) as Landlord may request and as may be legally permissible to permit Landlord to collect the maximum rents that may from time to time during the
continuance of such legal rent restriction be legally permissible (and not in excess of the amounts reserved under this Lease). Upon the termination of such legal rent restriction (a) the Rental shall become and thereafter be payable hereunder
in accordance with the amounts reserved in this Lease for the remainder of the Term, and (b) Tenant shall pay to Landlord, if legally permissible, an amount equal to (i) the items of Rental that would have been paid pursuant to this Lease
but for such legal rent restriction less (ii) the rents paid by Tenant to Landlord during the period or periods such legal rent restriction was in effect. This provision shall survive the expiration or earlier termination of this Lease to the
maximum enforceable extent. 
 ARTICLE 37 
 COVENANT OF QUIET ENJOYMENT 
 Section 37.1 Landlord covenants that, upon Tenant paying the Fixed Rent and Additional Rent
and observing and performing all the terms, agreements, covenants, provisions and conditions of this Lease on Tenant’s part to be observed and performed, Tenant may peaceably and quietly enjoy the Premises, subject nevertheless to the terms and
conditions of this Lease, and provided, however, that no eviction of Tenant by reason of the foreclosure of any Mortgage now or hereafter affecting the Premises or by reason of any termination of any Superior Lease to which this Lease is subject and
subordinate, whether such termination is effected by operation of law, by agreement or otherwise, shall be construed as a breach of this covenant nor shall any action by reason thereof be brought against Landlord, and provided further that this
covenant shall bind and be enforceable against Landlord or any successor to Landlord’s interest, subject to the terms hereof, only so long as Landlord or any successor to Landlord’s interest, is in possession and is collecting rent from
Tenant but not thereafter. 
  

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 ARTICLE 38 
 LANDLORD’S WORK 
 Section 38.1 Landlord, at its expense (subject to the provisions of Article
45), shall perform the following work in the Building and/or the Premises (other than in the 2nd through
5th floors and the 11th and 12th floors, in which no Landlord’s Work shall be
performed, except as provided otherwise in item (B) below) (“Landlord’s Work”): 
 (A) demolish and
remove all existing leasehold improvements back to the core walls, in accordance with the demolition specifications annexed to this Lease as Schedule C; 
 (B) either install two renovated, ADA-compliant restrooms or renovate the two existing restrooms and install one unisex ADA-compliant
restroom, on each floor of the Premises (other than the 11th and 12th floors) (the “Restroom Work”), all of such restrooms substantially consistent with the finish quality of the core restrooms on the
11th floor, which is more particularly described in Schedule R annexed to this Lease, provided that Landlord
may substitute other finishes and materials of similar or higher quality, provided further that Landlord shall first obtain Tenant’s consent to any substitution of finishes or materials, which consent shall not be unreasonably withheld,
conditioned or delayed and which, in any event, shall be given or withheld by Tenant with three (3) Business Days after Landlord shall have requested Tenant’s consent. Landlord shall designate the location on the floor of any unisex
ADA-compliant restroom to be installed by Landlord, subject to Tenant’s approval (which shall not be unreasonably withheld, conditioned or delayed and which, in any event, shall be given or withheld by Tenant within three (3) Business Days
after Landlord identifies such locations to Tenant); 
 (C) deliver three (3) original Forms ACP-5 with respect to the
Premises within five (5) Business Days after the submission to Landlord for its review of Tenant’s plans and specifications for the applicable Initial Alterations, which ACP-5 shall state that no asbestos or asbestos-containing materials
shall be required to be encapsulated, abated or otherwise removed in connection with Tenant’s performance of its Initial Alterations; provided, however, that if, during the course of Tenant’s Initial Alterations, Tenant encounters asbestos
or asbestos-containing materials, then the provisions of Section 9.6 of this Lease shall apply, and, after Landlord performs the work described in Section 9.6, Landlord shall deliver to Tenant a Form ACP-5 stating that no
asbestos or asbestos-containing materials shall be required to be encapsulated, abated or otherwise removed; 
 (D) complete
the mechanical modernization and cosmetic upgrade of the interiors of the elevator cabs (including the freight elevator) in the Building, in accordance with the contract annexed to this Lease as Schedule S-1 (the “Elevator
Work”). The interior cab (along with a description of the finishes and materials) is depicted in Schedule S annexed to this Lease, provided that Landlord may substitute other finishes and materials of similar or higher quality;

 (E) cosmetically upgrade the 345 Park Avenue South and 355 Park Avenue South lobbies of the Building substantially in
accordance with the renderings (along with a 

  

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description of the finishes and materials) contained in Schedule K, provided that Landlord may substitute other finishes and materials of similar or
higher quality (the “Building Lobby Work”); 
 (F) upgrade the 345 Park Avenue South and 355 Park Avenue
South storefronts and entrance doors substantially in accordance with the renderings contained in Schedule L, provided that Landlord may substitute other finishes and materials of similar or higher quality (the “Building Storefront
Work”); 
 (G) repair and upgrade, as required by Laws, the standard and emergency back-up lighting in the fire
stairwells between Tenant’s floors (the work described in this clause (G), together with the work described in clause (I) below, collectively “Stairwell Work”); 
 (H) install a new cooling tower to service the Premises, other than the 11th and 12th floors and
replace the HVAC package units on floors 2 through 10. All new HVAC package units shall be equipped with variable frequency drives and ready for the installation of Tenant’s VAV ductwork system; and 
 (I) paint the existing fire stairwells between Tenant’s floors in a color jointly selected by Landlord and Tenant from
Landlord’s Building-standard color chart. 
 With respect to the items described in items (E) and (F) above, Landlord shall
include Tenant in the review process for the finishes and materials and shall take into consideration (without being bound thereby) Tenant’s reasonable comments and recommendations. 
 Notwithstanding anything to the contrary contained in the Reference Page or elsewhere in this Lease, the work described in item (A) above is the
only item of Landlord’s Work that must be Substantially Completed as a condition of the occurrence of the Commencement Date, and Tenant acknowledges that the work described in item (A) with respect to the 6th and 10th floors has been Substantially Completed as of the date of this Lease. Other than such work, Landlord shall perform Landlord’s Work (including the removal of the internal staircase and the sealing of the penetration in the slabs
between floors 7, 8 and 9, if elected by Tenant) after the occurrence of the Commencement Date and Tenant shall grant Landlord access to the Premises, if required, to perform such work. Tenant acknowledges that in order for Landlord to properly
perform the work described in item (B) above, each such floor must be vacant (and Tenant shall have given Landlord at least 120 days advance notice of such vacancy, except with respect to floors 6 and 10) prior to the commencement by Landlord
of such work. Landlord shall perform Landlord’s Work expeditiously and shall use commercially reasonable efforts to Substantially Complete certain elements of such work in accordance with dates set forth in Article 45. In any event, to
the extent such work is required to be performed within the Premises, Landlord shall perform such work in a manner which shall not cause a delay by Tenant in the completion of the Initial Alterations in the Premises. Landlord and Tenant shall take
commercially reasonable steps to coordinate the performance by Landlord of Landlord’s Work and the performance by Tenant of the Initial Alterations so that neither party is delayed in the completion of its work. Articles 45 and 46
set forth certain remedies of Tenant if Landlord fails to complete certain elements of Landlord’s Work by the dates set forth therein. 
  

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 ARTICLE 39 
 MISCELLANEOUS 
 Section 39.1 This Lease is presented for signature by Tenant and it is understood
that this Lease shall not constitute an offer by or be binding upon Landlord or Tenant unless and until Landlord and Tenant shall have executed and delivered a fully executed copy of this Lease to the other. 
 Section 39.2 The obligations of Landlord under this Lease shall not be binding upon Landlord named herein after the sale, conveyance, assignment or
transfer by such Landlord (or upon any subsequent landlord after the sale, conveyance, assignment or transfer by such subsequent landlord) of its interest in the Building or the Real Property, as the case may be, and in the event of any such sale,
conveyance, assignment or transfer, Landlord shall be and hereby is entirely freed and relieved of all covenants and obligations of Landlord under this Lease thereafter arising, to the extent, subject to the remaining provisions of this
Section 39.2, such transferee has assumed all obligations of the Landlord under this Lease arising after the effective date of the transfer. No trustee, partner, shareholder, director or officer of Landlord, or of any partner or
shareholder of Landlord (collectively, the “Parties”) shall have any direct or personal liability for the performance of Landlord’s obligations under this Lease, and Tenant shall look solely to Landlord’s interest in the
Real Property (and the net proceeds derived therefrom including, without limitation, any sales, insurance, condemnation or refinancing proceeds therefrom) to enforce Landlord’s obligations hereunder and shall not otherwise seek any damages
against Landlord personally or any of the Parties whatsoever. Tenant shall not look to any other property or assets of Landlord or any property or assets of any of the Parties in seeking either to enforce Landlord’s obligations under this Lease
or to satisfy a judgment for Landlord’s failure to perform such obligations. 
 Section 39.3 Notwithstanding anything contained in this
Lease to the contrary, all amounts payable by Tenant to or on behalf of Landlord under this Lease, whether or not expressly denominated Fixed Rent, Escalation Rent, Additional Rent or Rental, shall constitute rent for the purposes of
Section 502(b)(7) of the Bankruptcy Code. 
 Section 39.4 
 (A) Tenant represents and warrants that to its actual knowledge (a) Tenant and each person or entity owning an interest in Tenant is
(i) not currently identified on the Specially Designated Nationals and Blocked Persons List maintained by the Office of Foreign Assets Control, Department of the Treasury (“OFAC”) and/or on any other similar list maintained by
OFAC pursuant to any authorizing statute, executive order or regulation (collectively, the “List”), and (ii) not a person or entity with whom a citizen of the United States is prohibited to engage in transactions by any trade
embargo, economic sanction , or other prohibition of United States law, regulation, or Executive Order of the President of the United States, (b) none of the funds of Tenant have been derived from any unlawful activity with the result that the
investment in Tenant is prohibited by law or that this Lease is in violation of law, and (e) Tenant has implemented procedures, and will consistently apply those procedures, to ensure that the 

  

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foregoing representations and warranties remain true and correct at all times. The term “Embargoed Person” means any person, entity or
government subject to trade restrictions under U.S. law, including but not limited to, the International Emergency Economic Powers Act, 50 U.S.C. §1701 et seq., The Trading with the Enemy Act, 50 U.S.C. App. 1 et seq., and any
Executive Orders or regulations promulgated thereunder with the result that the investment in Tenant is prohibited by law or Tenant is in violation of law. 
 (B) Tenant covenants and agrees (a) to comply with all Requirements relating to money laundering, anti-terrorism, trade embargos and economic sanctions, now or hereafter in effect, (b) to immediately give
Landlord Notice if any of the representations, warranties or covenants set forth in this paragraph or the preceding paragraph are no longer true or have been breached or if Tenant has a reasonable basis to believe that they no may no longer be true
or have been breached, (c) not to use funds from any “Prohibited Person” (as such term is defined in the September 24, 2001 Executive Order Blocking Property and Prohibiting Transactions With Persons Who Commit, Threaten
to Commit, or Support Terrorism) to make any payment due to Landlord under this Lease and (d) at the request of Landlord, to provide such information as may be requested by Landlord to determine Tenant’s compliance with the terms hereof.

 (C) Tenant hereby acknowledges and agrees that Tenant’s inclusion on the List at any time during the Term shall be a
material default of this Lease. Notwithstanding anything herein to the contrary, Tenant shall not permit the Premises or any portion thereof to be used or occupied by any person or entity on the List or by any Embargoed Person (on a permanent,
temporary or transient basis), and any such use or occupancy of the Premises by any such person or entity shall be a material default of this Lease. 
 In
connection with this Lease or any proposed assignment of this Lease or sublease, Tenant shall provide to Landlord the names of the persons holding an ownership interest in Tenant or any proposed assignee or sublessee, as applicable, for purposes of
compliance with Presidential Executive Order 13224 (issued September 24, 2001), as amended. 
 Section 39.5 Except as otherwise
expressly stated in this Lease, including, without limitation, Section 39.22 of this Lease, any consent or approval required to be obtained from Landlord may be granted by Landlord in its sole discretion. In any instance in which
Landlord agrees not to act unreasonably, Tenant hereby waives any claim for damages against or liability of Landlord that Tenant may have based upon any assertion that Landlord has unreasonably withheld, unreasonably conditioned or unreasonably
delayed any consent or approval requested by Tenant, and Tenant agrees that its sole remedy, other than as set forth in Section 39.22 of this Lease, shall be an action or proceeding to enforce any related provision or for specific
performance, injunction or declaratory judgment. If with respect to any required consent or approval Landlord is required by the express provisions of this Lease not to unreasonably withhold, condition or delay its consent or approval, and if it is
determined in any such proceeding referred to in the preceding sentence that Landlord acted unreasonably, the requested consent or approval shall be deemed to have been granted; however, Landlord shall have no liability whatsoever to Tenant for its
refusal or failure to give such consent or approval. Except as set forth in Section 39.22 of this Lease, Tenant’s sole remedy for Landlord’s unreasonably withholding, conditioning or delaying consent or approval shall be as
provided in this Section 39.5. 
  

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 Section 39.6 Omitted. 
 Section 39.7 If Tenant shall remain in possession of the Premises after the Expiration Date, without the execution by both Tenant and Landlord of a new lease, Tenant, at the election of Landlord, shall be deemed to be
occupying the Premises as a Tenant from month-to-month, at a monthly rental equal to (i) for the first 30 days of such holdover, 100% of the Rental payable during the last month of the Term, (ii) for the next 30 days of such holdover, 125%
of the Rental payable during the last month of the Term, (iii) for the next 30 days of such holdover, 150% of the Rental payable during the last month of the Term, (iv) for the next 30 days of such holdover, 175% of the Rental payable
during the last month of the Term and (v) thereafter during such holdover, 200% of the Rental payable during the last month of the Term, subject to all the other conditions, provisions and obligations of this Lease insofar as the same are
applicable to a month-to-month tenancy. At least six months in advance of the Expiration Date, Tenant shall give Landlord Notice if Tenant reasonably anticipates in good faith holding over in the Premises and Tenant shall keep Landlord apprised of
the date of Tenant’s anticipated surrender of the Premises if Tenant’s circumstances change. However, neither the giving of such Notices by Tenant nor the acceptance of any holdover rental paid by Tenant pursuant to this
Section 39.7 shall preclude Landlord from commencing and prosecuting a holdover or summary eviction proceeding. 
 Section 39.8
This Lease shall be construed without regard to any presumption or other rule requiring construction against the party causing this Lease to be drafted. If any words or phrases in this Lease are stricken out or otherwise eliminated, whether or not
any other words or phrases have been added, this Lease shall be construed as if the words or phrases so stricken out or otherwise eliminated were never included in this Lease and no implication or inference shall be drawn from the fact that such
words or phrases were stricken out or otherwise eliminated. 
 Section 39.9 Landlord shall make available to Tenant on the directory in the
lobby of the Building Tenant’s Share of the total number of listings available, which listings may include subtenants occupying the Premises in accordance with the terms hereof. The initial listing shall be without charge to Tenant. From time
to time, but not more frequently than once every three (3) months, Landlord shall revise the directory to reflect such changes in the listings therein as Tenant may request, and Tenant within thirty (30) days after demand by Landlord shall
pay to Landlord, as Additional Rent, Landlord’s reasonable cost in making each revision that Tenant requests. 
 Section 39.10 If either
Landlord or Tenant is required to reimburse the other for the other’s costs pursuant to any provision of this Lease, then the reimbursing party shall pay the reasonable, out-of-pocket costs incurred by such other party on or prior to thirty
(30) days after such other party’s rendition of a statement therefor, which shall be accompanied by documentation reasonably substantiating the charges set forth thereon. 
  

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 Section 39.11 If any of the provisions of this Lease, or the application thereof to any person or
circumstance, shall, to any extent, be invalid or unenforceable, the remainder of this Lease, or the application of such provisions to persons or circumstances other than those as to whom or which it is held invalid or unenforceable, shall not be
affected thereby and shall remain valid and enforceable, and every provision of this Lease shall be valid and enforceable to the fullest extent permitted by law. 
 Section 39.12 Landlord shall have the right to erect any gate, chain or other obstruction or to close off any portion of the Real Property to the public at any time to the extent necessary to prevent a dedication
thereof for public use, so long as Tenant’s access to the Premises shall not be cut off. 
 Section 39.13 Landlord and Tenant each
hereby represents to the other party that it is not entitled, directly or indirectly, to diplomatic or sovereign immunity and agrees that in all disputes arising directly or indirectly out of this Lease it shall be subject to service of process in,
and the jurisdiction of the courts of, the State of New York. The provisions of this Section 39.13 shall survive the expiration of this Lease. 
 Section 39.14 This Lease contains the entire agreement between the parties and all prior negotiations and agreements are merged into this Lease. This Lease may not be changed, abandoned or discharged, in whole or in part, nor may any of its
provisions be waived except by a written agreement that (a) expressly refers to this Lease, and (b) is executed by the party against whom enforcement of the change, abandonment, discharge or waiver is sought. 
 Section 39.15 Any apportionment or prorations of Rental to be made under this Lease shall be based upon the number of days contained in the applicable
month in which any Rental shall be apportioned. 
 Section 39.16 This Lease shall be governed by the laws of the State of New York without
regard to conflict of laws principles. 
 Section 39.17 Each person executing this Lease on behalf of Landlord and Tenant hereby covenants,
represents and warrants that such entity is duly incorporated or duly qualified (if foreign) and is authorized to do business in the State of New York; and that each person executing this Lease on behalf of such party is an officer or member or
partner of such party (or such party’s partner) and that he or she is duly authorized to execute, acknowledge and deliver this Lease (a copy of a resolution to that effect to be supplied to Landlord by Tenant upon request). 
 Section 39.18 The captions are inserted only as a matter of convenience and for reference and in no way define, limit or describe the scope of this Lease
nor the intent of any provision thereof. 
 Section 39.19 The covenants, conditions and agreements contained in this Lease shall bind and
inure to the benefit of Landlord and Tenant and their respective legal representatives, successors, and, except as otherwise provided in this Lease, their assigns. 
  

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 Section 39.20 From and after the date of this Lease, Tenant, its officers, principals and employees,
shall maintain the terms and conditions of this Lease confidential and, without Landlord’s prior written consent, shall neither discuss nor disclose the terms and conditions of this Lease with any tenant or occupant of the Building or with any
other person, (I) other than (i) the Broker, (ii) Tenant’s attorneys, (iii) Tenant’s accountants, (iv) Tenant’s lenders and prospective lenders and (v) any proposed subtenant of the Premises or assignee
of this Lease, or (II) other than in connection with any litigation, expedited arbitration proceeding, or any other proceeding regarding this Lease or required to be disclosed by law or judicial process, or (III) except to the extent required to be
disclosed in connection with Tenant’s status as a public company and (IV) except to the extent that any term and condition of this Lease has already been disclosed and made public other than through Tenant’s breach of this
Section 39.20. Tenant acknowledges that a breach or threatened breach of this section will cause irreparable injury and damage to Landlord, and, therefore, agrees that, in addition to any other remedies that may be available to Landlord,
Landlord shall be entitled to an injunction and/or other equitable relief (without the requirement of posting a bond or other security) as a remedy for a breach or threatened breach of this section and to secure its enforcement. 
 Section 39.21 For the purposes of this Lease and all agreements supplemental to this Lease, unless the context otherwise requires: 
 (a) The words “herein”, “hereof”, “hereunder” and “hereby” and words of similar import shall be
construed to refer to this Lease as a whole and not to any particular Article or Section unless expressly so stated. 
 (b)
Tenant’s obligations hereunder shall be construed in every instance as conditions as well as covenants, each separate and independent of any other terms of this Lease. 
 (c) Reference to Landlord as having “no liability” or being “without liability” shall mean that Tenant shall not be
entitled to terminate this Lease, or to claim actual or constructive eviction, partial or total, or to receive any abatement or diminution of rent, or to be relieved in any manner of any of its other obligations hereunder, or to be compensated for
loss or injury suffered or to enforce any other right or liability whatsoever against Landlord under or with respect to this Lease or with respect to Tenant’s use or occupancy of the Premises. 
 (d) Reference to “termination of this Lease” or “expiration of this Lease” and words of like import includes
expiration or sooner termination of this Lease and the Term and the estate hereby granted or cancellation of this Lease pursuant to any of the provisions of this Lease or to law. Upon the termination of this Lease, the Term and estate granted by
this Lease shall end at noon on the date of termination as if such date were the Fixed Expiration Date, and neither party shall have any further obligation or liability to the other after such termination except (i) as shall be expressly
provided for in this Lease, and (ii) for such obligations as by their nature under the circumstances can only be, or by the provisions of this Lease, may be, performed after such termination, and, in any event, unless expressly otherwise
provided in this Lease, any liability for a 

  

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payment (which shall be apportioned as of such termination) which shall have accrued to or with respect to any period ending at the time of termination shall
survive the termination of this Lease. 
 (e) Words and phrases used in the singular shall be deemed to include the plural and
vice versa, and nouns and pronouns used in any particular gender shall be deemed to include any other gender. 
 (f) The rule
of “ejusdem generis” shall not be applicable to limit a general statement following or referable to an enumeration of specific matters to matters similar to the matters specifically mentioned. 
 Section 39.22 Any dispute that is expressly stated in this Lease to be subject to an expedited arbitration proceeding at the option of one or both of the
parties shall be settled and finally determined by arbitration in The City of New York in accordance with the following provisions of this Section. Within five Business Days following the giving of a Notice by one party to the other stating that it
wishes such dispute to be so determined, Landlord and Tenant shall each give a Notice to the other setting forth the name and address of an arbitrator designated by the party giving such notice. If either party shall fail to give Notice of such
designation within said five Business Days, then the arbitrator chosen by the other side shall make the determination alone. The two arbitrators shall designate a third arbitrator. If the two arbitrators shall fail to agree upon the designation of a
third arbitrator within five Business Days after the designation of the second arbitrator, then either party may apply to the Supreme Court of the State of New York or to any other court having jurisdiction, for the designation of such arbitrator.
All arbitrators shall be persons who shall have had at least ten years of continuous experience in the business of owning or managing real estate in the Borough of Manhattan, The City of New York. The three arbitrators shall conduct such hearings as
they deem appropriate, making their determination in writing and giving notice to Landlord and Tenant of their determination as soon as practicable, and if possible, within five Business Days after the designation of the third arbitrator; the
concurrence of any two of said arbitrators shall be binding upon Landlord and Tenant, or, in the event no two of the arbitrators shall render a concurrent determination, then the determination of the third arbitrator designated shall be binding upon
Landlord and Tenant. Judgment upon any award rendered in any arbitration held pursuant to this Section shall be final and binding upon Landlord and Tenant, whether or not a judgment shall be entered in any court. If the arbitrators determine that
one party is entirely unsuccessful, then such party shall pay all the fees of the arbitrators. If the arbitrators determine that both parties are partially successful, then each party shall be responsible for the arbitrators’ fees only to the
extent such party is unsuccessful (e.g., if Landlord is eighty percent (80%) successful and Tenant is twenty percent (20%) successful, then Landlord shall be responsible for twenty percent (20%) of the arbitrators’ fees
and Tenant shall be responsible for eighty percent (80%) of the arbitrators’ fees). The arbitrators shall be bound by the provisions of this Lease, and shall not add to, subtract from or otherwise modify such provisions. 
  

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 ARTICLE 40 
 SECURITY DEPOSIT 
 Section 40.1 Tenant has deposited with Landlord on the signing of this Lease the
Security Deposit by Letter of Credit (as defined and further described in Section 40.2), as security for the faithful performance and observance by Tenant of the terms, provisions and conditions of this Lease. Tenant agrees that in the
event (i) of the occurrence of an Event of Default or (ii) Tenant has defaulted in the performance of any of its obligations under this Lease, including the payment of any item of Rental, and the transmittal of a Notice of default by
Landlord is barred by applicable law, Landlord may draw the entire amount of the Letter of Credit and use, apply or retain the whole or any part of such proceeds, to the extent required for the payment of any Fixed Rent, Escalation Rent, or any
other sum as to which Tenant is in default, or for any sum that Landlord may expend or may be required to expend by reason of the default (including any damages or deficiency accrued before or after summary proceedings or other re-entry by
Landlord). If Landlord applies or retains any portion or all of the proceeds of the Letter of Credit, Tenant shall forthwith restore the amount so applied or retained by delivering an additional or new Letter of Credit so that, at all times, the
amount of the Security Deposit shall be the amount set forth on the Reference Page. Provided there is no uncured default, any balance of the proceeds of the Letter of Credit held by Landlord and not used, applied or retained by Landlord as above
provided, and any remaining Letter of Credit, shall be returned to Tenant after the Expiration Date and after delivery of possession of the entire Premises to Landlord in accordance with the terms of this Lease. 
 Section 40.2 Tenant shall deliver to Landlord a clean, irrevocable and unconditional letter of credit (such letter of credit, and any replacement thereof
as provided herein, is called a “Letter of Credit”) issued and drawn upon any commercial bank approved by Landlord with offices for banking purposes in the City of New York (“Issuing Bank”), which Letter of Credit
shall have a term of not less than one year, be in form and content reasonably satisfactory to Landlord, be for the account of Landlord and be in the amount of the Security Deposit set forth in the Reference Page. The form of letter of credit
annexed to this Lease as Schedule E is satisfactory. The Letter of Credit shall provide that: 
 (1) The Issuing Bank
shall pay to Landlord or its duly authorized representative an amount up to the face amount of the Letter of Credit upon presentation of the Letter of Credit and a sight draft in the amount to be drawn; 
 (2) The Letter of Credit shall be deemed to be automatically renewed, without amendment, for consecutive periods of one year each during
the Term, unless the Issuing Bank sends written notice (the “Non-Renewal Notice”) to Landlord by certified or registered mail, return receipt requested, at least thirty (30) days prior to the expiration date of the Letter of
Credit, to the effect that it elects not to have such Letter of Credit renewed; 
 (3) The Letter of Credit delivered in
respect of the last year of the Term shall have an expiration date of not earlier than sixty (60) days after the Fixed Expiration Date; and 
  

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 (4) The Letter of Credit shall be transferable by Landlord as provided in
Section 40.4. 
 Section 40.3 Landlord, after receipt of the Non-Renewal Notice, shall have the right to draw the entire amount
of the Letter of Credit and to hold the proceeds as a cash Security Deposit. Landlord shall release such proceeds to Tenant upon delivery to Landlord of a replacement Letter of Credit complying with the terms hereof. 
 Section 40.4 In the event of the sale or lease of the Building or the Real Property, Landlord shall transfer the Security Deposit, without charge for
such transfer, to the purchaser or lessee, and Landlord shall thereupon be released by Tenant from all liability for the return of such Security Deposit. In such event, Tenant agrees to look solely to the new Landlord for the return of said Security
Deposit. It is agreed that the provisions hereof shall apply to every transfer or assignment made of the Security Deposit to a new Landlord. Tenant shall execute such documents as may be necessary to accomplish such transfer or assignment of the
Letter of Credit. 
 Section 40.5 Tenant covenants that it will not assign or encumber, or attempt to assign or encumber, the Security
Deposit held hereunder, and that neither Landlord nor its successors or assigns shall be bound by any such assignment, encumbrance, attempted assignment, or attempted encumbrance. In the event that any bankruptcy, insolvency, reorganization or other
debtor-creditor proceedings shall be instituted by or against Tenant, its successors or assigns, or any guarantor of Tenant hereunder, the security shall be deemed to be applied to the payment of the Fixed Rent and Additional Rent due Landlord for
periods prior to the institution of such proceedings and the balance, if any, may be retained by Landlord in partial satisfaction of Landlord’s damages. 
 Section 40.6 Prior to October 1, 2008, Tenant shall deliver to Landlord an additional Security Deposit in the form of a Letter of Credit in an amount equal to the Fixed Rent and Escalation Rent payable for the
7th, 8th and 9th floors at the rates then payable under this Lease, which is presently estimated at
approximately $765,192, to be held and disbursed in accordance with this Article 40. Upon the occurrence of the Commencement Date for the 2nd through 5th floors and the 11th and 12th floors
and provided that no Event of Default has occurred and is continuing, the Security Deposit may be reduced by the amount by which the Security Deposit then held by Landlord exceeds the Fixed Rent and Escalation Rent for the entire Premises at the
rates then payable under this Lease for a period of four months, which reduction is presently estimated at approximately $469,789.15, leaving a Security Deposit of approximately $2,995,402.87. Tenant may effect such reduction either by delivering to
Landlord an amendment to the existing Letter(s) of Credit (which Landlord shall promptly countersign) or by exchanging a Letter of Credit in the reduced amount for the existing Letter of Credit. 
  

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 ARTICLE 41 
 ROOF INSTALLATIONS 
 Section 41.1 Tenant shall have the right to install, remove, replace, repair,
maintain and operate on the available space on the roof of the Building, at Tenant’s sole cost and expense (and by using a contractor approved by Landlord, which approval shall not be unreasonably withheld or delayed), a satellite dish and
support equipment (hereinafter collectively referred to as the “Installations”), at a mutually agreeable location reasonably suitable for the installation and operation thereof, subject to all of the terms, covenants and conditions
of this Lease (including Article 6), and subject to Landlord’s prior written approval, including, without limitation, approval as to size, weight, location and method of attachment, which approval shall not be unreasonably withheld,
conditioned or delayed. Landlord’s approval shall also be required for modifications to, and the removal of, the Installations, which approval shall not be unreasonably withheld, conditioned or delayed. In connection with Tenant’s
installation, removal, replacement, repair, maintenance and operation of its Installations, Tenant shall comply with all Laws and shall procure, maintain and pay for all permits and licenses required therefor, including all renewals thereof.
Landlord shall cooperate with Tenant to assist Tenant in obtaining such permits and licenses. The parties agree that Tenant’s use of the roof of the Building is a non-exclusive use and Landlord may permit the use of any other portion of the
roof to any other person, firm or corporation for any use, including the installation of other antennas, generators and/or communications systems. Tenant shall ensure that its use of the roof does not impair such other person’s, firm’s or
corporations data transmission and reception via their respective antennas and support equipment, if any. Tenant, at its sole cost and expense, shall install any screening device reasonably requested by Landlord at any time to ensure that the
Installations cannot be viewed or seen by the public and, if such screening device is installed, it shall be deemed to be an Installation under this clause. 
 Section 41.2 In no event shall the maximum level of emissions from the Installations exceed a reasonable portion of the total emissions allowable for the Building under applicable Laws, taking into account the number
of rooftop installations at the Building. 
 Section 41.3 Tenant shall pay for all electrical service required for Tenant’s use of the
Installations in accordance with Article 4 of this Lease. Tenant shall be responsible for connecting the Installations and the Premises by core drilling and, if necessary, installing a conduit in the Building shafts and risers, and Landlord
shall provide Tenant, at no cost to Tenant, with all reasonable and non-exclusive access to such shafts and risers for Tenant’s installation, removal, replacement, repair, maintenance and operation therein of lines, cables and other
installations. Such shafts and risers shall accommodate two 2-1/2” conduits. 
 Section 41.4 Tenant, at Tenant’s sole cost and
expense, shall promptly repair any and all damage to the roof of the Building and to any part of the Building caused by or resulting from the installation, maintenance and repair, operation or removal of the Installations erected or installed by
Tenant pursuant to the provisions of this Article 41. Tenant further covenants and agrees that the Installations and any related equipment erected or installed by Tenant pursuant to 

  

 94 

 
the provisions of this Article 41 shall be erected, installed, repaired, maintained and operated by Tenant at the sole cost and expense of Tenant and
without charge, cost or expense to Landlord. 
 Section 41.5 The Installations and related equipment installed by Tenant pursuant to the
provisions of this Article 41 shall be Tenant’s Property, and, upon the expiration or earlier termination of the Term of this Lease shall be removed by Tenant, at Tenant’s sole cost and expense and Tenant shall repair any damage to
the roof of the Building, or any other portion or portions of the Building caused by or resulting from said removal. 
 Section 41.6 Landlord
may require Tenant to relocate the Installations and related equipment to another reasonably suitable portion of the roof upon thirty (30) days’ notice to Tenant or to remove the Installations if their existence would constitute a
violation of any Laws. 
 ARTICLE 42 
 OPTIONS TO RENEW 
 Section 42.1 Provided that both at the time of the exercise of each Renewal Option (as hereinafter
defined) and, except with respect to the occupancy requirement described in clause (iii) below, at the time of the commencement of the respective Renewal Terms (as hereinafter defined): (i) this Lease shall be in full force and effect;
(ii) an Event of Default shall not have occurred and be continuing; and (iii) Tenant (and its affiliates and the Permitted Occupants) are in physical occupancy of at least two-thirds of the rentable area of the office portion of the
Premises that is the subject of Tenant’s Renewal Notice (as defined below), Tenant shall have two options to extend the Term of this Lease (as applicable, the “First Renewal Option” and the “Second Renewal
Option”; collectively, the “Renewal Option(s)”), each for a period of five (5) years (as applicable, the “First Renewal Term” and the “Second Renewal Term”; collectively, the
“Renewal Term(s)”). A Renewal Option may be exercised with respect to the entire Premises or with respect to a portion of the Premises comprised of at least four full contiguous floors (and no partial floors), as specified by Tenant
in the Renewal Notice, provided that in such event, the floors must start with either the highest or lowest floors in the Building. If Tenant sends a Renewal Notice but fails to specify whether Tenant is exercising the Renewal Option with respect to
the entire Premises or with respect to only a portion of the Premises, Tenant shall be deemed to have exercised the Renewal Option for the entire Premises. The First Renewal Term shall commence on the day following the Fixed Expiration Date and the
Second Renewal Term shall commence on the day following the last day of the First Renewal Term (the “First Renewal Term Expiration Date”). The Renewal Options shall be exercisable by Notice (in either case, the “Renewal
Notice”) to Landlord given not later than eighteen (18) months prior to the Fixed Expiration Date (with respect to the First Renewal Option) or the First Renewal Term Expiration Date (with respect to the Second Renewal Option).
Notwithstanding the first sentence of this Section 42.1, Landlord, in its sole discretion, may waive any default by Tenant and no such default may be used by Tenant to negate the effectiveness of Tenant’s exercise of either Renewal
Option. The Renewal Terms shall constitute an extension of the Term of this Lease and shall be upon all of the same terms and conditions as the existing Term, except that (A) during the First Renewal Term there shall be no further option to
renew the Term of this 

  

 95 

 
Lease except for the Second Renewal Option, (B) during the Second Renewal Term there shall be no further option to renew the Term of this Lease,
(C) Landlord shall not be required to furnish any materials or perform any work to prepare the Premises for Tenant’s continued occupancy during either Renewal Term and Landlord shall not be required to reimburse Tenant for any Alterations
made or to be made by Tenant during or in preparation of either Renewal Term, and (D) the Fixed Rent for the Renewal Term shall be payable at a rate per annum equal to the Fair Market Value of the Premises as of the first day of the applicable
Renewal Term. During the Renewal Terms, all Escalation Rent that Tenant is obligated to pay under Article 3 of this Lease during the existing Term hereof shall continue without interruption, it being the intention of the parties hereto that
the Renewal Terms shall be deemed a part of and continuation of the existing Term of this Lease. “Fair Market Value” shall mean the fixed annual rent that a willing tenant would pay pursuant to a direct lease and a willing landlord
would accept for the Premises for a renewal term pursuant to a direct lease during the applicable Renewal Term, determined on the basis of rentals for comparable space in buildings of comparable quality and age of the Building, taking into account
all relevant factors, whether favorable to Landlord or Tenant. Landlord, at Tenant’s request, shall meet with Tenant, prior to the date by which Tenant must exercise a Renewal Option, to discuss the proposed rental for the Premises for the
Renewal Term, with no liability to either Landlord or Tenant with respect to such discussions. 
 Section 42.2 If Tenant has given the
Renewal Notice in accordance with Section 42.1, the parties shall endeavor to agree upon the Fair Market Value of the Premises, as of the commencement date of the applicable Renewal Term. In the event that the parties are unable to agree
upon the Fair Market Value for the applicable Renewal Term within four months prior to the first day of such Renewal Term then the same shall be determined as follows. Landlord shall give Tenant Notice of Landlord’s good faith determination of
the Fair Market Value, which shall constitute the maximum that Landlord can claim is the Fair Market Value of the Premises for the applicable Renewal Term in any arbitration thereof (“Landlord’s Maximum Determination”). If
Landlord fails to give Tenant Landlord’s Maximum Determination, Tenant may request that Landlord do so and Landlord shall thereafter respond within ten (10) days. Within 30 days after Landlord shall have given Tenant Landlord’s
Maximum Determination (time being of the essence as to Tenant’s obligation to give Landlord Tenant’s Minimum Determination by such date), Tenant shall give Landlord Notice whether Tenant disputes Landlord’s Maximum Determination and,
if Tenant disputes Landlord’s Maximum Determination, Tenant shall set forth in such Notice Tenant’s good faith determination of the Fair Market Value of the Premises for the applicable Renewal Term, which shall constitute the minimum that
Tenant can claim is the Fair Market Value for the Premises for the applicable Renewal Term in any arbitration thereof (“Tenant’s Minimum Determination”). If Tenant fails to dispute Landlord’s Maximum Determination or to
set forth Tenant’s Minimum Determination within the time period set forth above (time being of the essence as to Tenant’s obligation to give Landlord Tenant’s Minimum Determination by such date), then Tenant shall be deemed to have
accepted Landlord’s Maximum Determination as the Fair Market Value for the applicable Renewal Term. 
 Section 42.3 If Tenant disputes
Landlord’s Maximum Determination, and Landlord and Tenant fail to agree as to the amount thereof within 30 days after the giving of Tenant’s Minimum Determination, then the dispute shall be resolved by arbitration as set forth below. If
the dispute shall not have been resolved on or before the first day of the applicable Renewal 

  

 96 

 
Term, then pending such resolution, Tenant shall pay, as Fixed Rent for the applicable Renewal Term, an amount equal to the average of Landlord’s
Maximum Determination and Tenant’s Minimum Determination. Within 30 days after the final determination of Fair Market Value for the applicable Renewal Term, Landlord and Tenant shall reconcile any overpayments or underpayments. Any dispute as
to Fair Market Value shall be determined as follows. A senior officer of a recognized New York City leasing brokerage firm (the “Baseball Arbitrator”) shall be selected and paid for jointly by Landlord and Tenant. If Landlord and
Tenant are unable to agree upon the Baseball Arbitrator, then the same shall be designated by the American Arbitration Association (“AAA”). The Baseball Arbitrator selected by the parties or designated by the AAA shall not have been
employed by Landlord or Tenant during the previous five-year period and shall have at least ten years experience in the leasing of office space in Manhattan in the vicinity of the Building. Landlord and Tenant shall each submit to the Baseball
Arbitrator and to the other its determination of the Fair Market Value for the applicable Renewal Term, as set forth above, which need not be Landlord’s Maximum Determination or Tenant’s Minimum Determination. The Baseball Arbitrator shall
determine which of the two rent determinations more closely represents the Fair Market Value for the applicable Renewal Term, taking into account all relevant factors, whether favorable to Landlord or Tenant. The Baseball Arbitrator may not select
any other rental value for the applicable Renewal Term other than one submitted by Landlord or Tenant. The determination of the Baseball Arbitrator shall be binding upon Landlord and Tenant and shall serve as the basis for the Fixed Rent payable for
the applicable Renewal Term. After a determination has been made of the Fair Market Value, the parties shall execute and deliver an instrument setting forth the Fixed Rent for the applicable Renewal Term, but the failure to so execute and deliver
any such instrument shall not affect the determination of such Fixed Rent in accordance with this Article 42. Landlord and Tenant shall share equally the costs of the Baseball Arbitrator and shall otherwise pay its own counsel and expert
fees. 
 Section 42.4 If Tenant exercises a Renewal Option for a portion of the Premises, then prior to the commencement of the Renewal Term,
Tenant, at its expense, shall (i) remove any internal staircase and seal the slab between the highest or lowest floor of the Building that Tenant shall continue to lease during the Renewal Term and the contiguous floor that Tenant shall not
lease during the Renewal Term and (ii) perform any work necessary to separate any Building Systems or shared facilities that existed between portions of the Premises to enable the portion of the Premises that Tenant shall no longer lease during
the Renewal Term to function as an independent leaseable unit. To the extent that Tenant leases only a portion of the Premises during the First Renewal Term, it may not exercise the Second Renewal Option for any other portion of the
originally-demised Premises. 
 ARTICLE 43 
 INTENTIONALLY OMITTED 
  

 97 

 ARTICLE 44 
 SELF-HELP 
 Section 44.1 (A) Subject to the Notice requirements set forth below, in the event Tenant
gives Landlord Notice that Tenant claims Landlord has failed to perform its obligations with respect to the repair and maintenance of the Building in accordance with the express terms of Article 7 (collectively, the “Landlord
Performance Obligations”), Tenant shall have the right to remedy such Landlord failure provided that such failure by Landlord of the Landlord Performance Obligations has a material adverse impact on Tenant’s ability to conduct
Tenant’s normal business operations in the Premises. 
 (B) Tenant’s right to remedy the foregoing Landlord failure
shall (x) arise immediately in case of an emergency whereby Tenant believes, in good faith, there is (i) imminent threat of physical injury to persons or (ii) imminent threat of damage (other than a de minimis nature) to
property that reasonably mandates an immediate response, and (y) in all other cases arise only after Tenant shall have first delivered to Landlord written notice of such failure as set forth below. If Landlord fails to commence to remedy a
failure (a) where such remedy shall affect only the Premises or a mechanical area in any other part of the Building outside the Premises which services the Premises exclusively, within fifteen (15) days after delivery of Tenant’s
Notice (but within five (5) Business Days with respect to a failure to deliver HVAC when required under Section 28.1), or (b) where such remedy shall affect the Premises and other portions of the Building outside the Premises,
within thirty (30) days after delivery of Tenant’s Notice, Tenant may deliver a second written notice of such failure to Landlord stating: “LANDLORD HAS FAILED TO PERFORM ITS OBLIGATIONS UNDER ARTICLE 7 OF THE LEASE. IF LANDLORD FAILS
TO COMMENCE TO REMEDY LANDLORD’S FAILURE OF SUCH LANDLORD PERFORMANCE OBLIGATIONS WITHIN THREE (3) BUSINESS DAYS [TWO (2) BUSINESS DAYS WITH RESPECT TO AN HVAC FAILURE], TENANT INTENDS TO EXERCISE ITS RIGHT OF SELF-HELP UNDER ARTICLE
44 OF THE LEASE,” and if Tenant delivers such second notice in either the circumstances of clause (a) or (b) and Landlord fails to commence such remedy within such three (3) Business Day period, and thereafter diligently pursue
such remedy, then Tenant shall immediately have the right to remedy such failure as provided above. Notwithstanding the time periods described above, Landlord shall use good faith efforts to commence the Landlord Performance Obligations as soon as
commercially practicable. If Tenant performs any of Landlord’s Performance Obligations, Landlord shall pay to Tenant its reasonable out-of-pocket costs of performance within thirty (30) days after a statement is given to Landlord of the
amount of such costs and the parties to which such payments have been made. If Landlord fails to pay to Tenant the amounts owed pursuant to the prior sentence within the time period provided, Tenant shall have the right on notice given to Landlord
to offset the amount owed to Tenant against the Rental thereafter payable under this Lease, unless Landlord notifies Tenant that Landlord disputes either the propriety of Tenant’s action and/or that the costs incurred by Tenant were excessive,
in which event Tenant shall not offset such amounts unless it prevails in the arbitration referred to in Section 44.2. 
  

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 (C) In addition to Tenant’s rights under Sections 44.1(A) and (B), if
Landlord has not completed (i) the Building Lobby Work, the Building Storefront Work and the Stairwell Work by the date that is eighteen months after the date of this Lease, or (ii) the Elevator Work by August 31, 2007 (in each case
subject to Tenant Delay and Unavoidable Delay), and either of such failures continues for 30 days after notice by Tenant to Landlord as follows: “LANDLORD HAS FAILED TO COMPLETE [THE BUILDING LOBBY WORK AND BUILDING STOREFRONT WORK] [THE
ELEVATOR WORK]. If LANDLORD FAILS TO COMPLETE SUCH WORK WITHIN 30 DAYS, TENANT INTENDS TO EXERCISE ITS RIGHT OF SELF-HELP UNDER ARTICLE 44 OF THE LEASE”, then Tenant shall have the right to complete such work. If Tenant exercises such self-help
right and completes such work, Landlord shall pay Tenant its reasonable out-of-pocket costs of performance within thirty (30) days after a statement is given to Landlord of the amount of such costs and the parties to which such payments have
been made. If Landlord fails to pay the amount owed pursuant to the prior sentence within the time period provided, Tenant shall have the right on notice given to Landlord to offset the amount owed to Tenant against the Rental thereafter payable
under this Lease, unless Landlord notifies Tenant that Landlord disputes either the propriety of Tenant’s action and/or that the costs incurred by Tenant were excessive, in which event Tenant shall not offset such amounts unless it prevails in
the arbitration referred to in Section 44.2. Notwithstanding the foregoing, if Tenant exercises its rights under this Section 44.1(C), Tenant shall not be entitled to the rent abatements described in Section 45.6.

 Section 44.2 In the event Landlord contends that Tenant improperly exercised its rights set forth in Section 44.1 above and/or
that the costs incurred by Tenant in exercising such rights were excessive, such dispute shall be settled by expedited arbitration in accordance with the arbitration procedure set forth in Section 39.22 of this Lease. In the event Tenant
is the prevailing party in the foregoing arbitration, Landlord shall pay to Tenant the costs incurred by Tenant in exercising such rights. If Landlord is the prevailing party in the foregoing arbitration and the arbitrator finds that Tenant
improperly exercised its rights under Section 44.1, then Landlord shall not be obligated to reimburse Tenant for its costs. If the arbitrator finds Tenant properly exercised its rights under Section 44.1 but that its costs
were excessive, Landlord shall only be obligated to reimburse Tenant for the portion of such costs which were not found to be excessive. 
 ARTICLE 45 
 CAPITAL IMPROVEMENT AMORTIZATION 
 Section 45.1 Tenant has requested that Landlord perform certain capital improvements to the Building and the Building Systems on an accelerated basis. To induce Landlord to perform the work (the “Accelerated
Capital Improvements Work”, as hereinafter further defined) on such basis, Tenant has agreed to pay Landlord, as Additional Rent, the amount of $7,151.51 for each of the first eleven (11) years and four (4) months of the Term
commencing on the First Rent Commencement Date (the “Accelerated Capital Improvements Payment”), payable along with each monthly installment of Fixed Rent. 
  

 99 

 Section 45.2 Schedule T contains a work schedule setting forth certain times during the Term that
Tenant shall afford Landlord access to portions of the Premises in order for Landlord to perform, among other things, the Accelerated Capital Improvements Work. Landlord and Tenant shall cooperate in modifying such schedule (prior to and during the
performance of the Accelerated Capital Improvements Work), if necessary, so the Accelerated Capital Improvements Work can be performed in an efficient and commercially reasonable manner, taking into account the legitimate needs of both parties. Such
entry by Landlord in the Premises shall not constitute an eviction nor be the basis for any abatement of Rental under this Lease. Without limiting the foregoing provisions, Tenant acknowledges that, in order for Landlord to properly perform the HVAC
Work (as defined in Section 45.3(A) below), Tenant must give Landlord at least 120 days advance Notice of the date on which Tenant shall afford Landlord access to the applicable floor of the Premises (except that such advance Notice
shall not be required with respect to floors 6 and 10) and that such floor must be vacant with the leasehold improvements therein demolished (but demolished only to the extent required for Landlord to perform such work and otherwise containing a
clear and unencumbered pathway from the freight elevator to the applicable mechanical equipment room) prior to the commencement by Landlord of such work. 
 Section 45.3 The Accelerated Capital Improvements Work shall consist of the following: 
 (A)
Landlord shall replace the package HVAC units serving each of the 2nd through 10th floors of the Building (the “HVAC Work”); and 
 (B) Landlord shall upgrade the elevator which provides service to Tenant’s exclusive lobby on the ground floor of the Building (the
“355 Lobby”) in accordance with the standards set forth in Section 38.1(D). 
 Section 45.4 Landlord had
contemplated cosmetically upgrading the 355 Lobby, including the storefronts and entrance doors relating thereto (the “355 Lobby Work”), by the end of 2011. Tenant has requested that Landlord accelerate the performance of such work
and to combine such two lobbies of the Building so as to achieve uniform design for the two lobbies in anticipation of Tenant’s occupancy of the entire Building, which constitutes part of Landlord’s Work under Article 38. In such
event, Tenant shall pay to Landlord (i) the portion of the cost of combining the two lobbies attributable to any required structural work, provided that, if it is determined that the wall separating the two lobbies is not load-bearing and
structural in nature, Landlord shall pay for the entire cost of combining the two lobbies and (ii) an amount to compensate Landlord for the loss of the use of the funds required to pay for the cost of the 355 Lobby Work for the period of time
that Landlord incurs such costs prior to the end of 2011, using an annual interest rate of 6%. Tenant shall pay Landlord the amounts described in clauses (i) and (ii) in equal monthly installments along with each Accelerated Capital
Improvements Payment. The design and materials to be used by Landlord in performing the 355 Lobby Work shall be consistent with Landlord’s obligations under Sections 38.1(E) and (F) of this Lease. To the extent Tenant wishes
to change the design or materials used in such work, Tenant shall pay Landlord any incremental costs incurred by Landlord in connection therewith. 
  

 100 

 Section 45.5 To the extent that (i) (x) Landlord has not completed the HVAC Work on a
particular floor by the date that is 90 days after the date that Tenant shall have delivered access to such floor in the condition required by Section 45.2, or (y) Landlord has not completed the Restroom Work on a particular floor
by the date that is 120 days after the date that Tenant shall have delivered access to such floor in the condition required by Article 38, or (z) Landlord has not Substantially Completed the demolition of floors 7, 8 and 9 within 120
days after the date on which Landlord has obtained vacant possession of such floors, (ii) Tenant gives Landlord Notice that Tenant shall be entitled to the abatement described below and (iii) such failure continues for five
(5) Business Days after Landlord’s receipt of such Notice (such fifth (5th) Business Day with respect
to the HVAC Work, the “Outside HVAC Date”, such fifth (5th) Business Day with respect to the
Restroom Work, the “Outside Restroom Work Date”) and such fifth (5th) Business Day with
respect to the demolition work (the “Outside Demolition Date”), then Tenant, provided that no Event of Default shall have occurred and be continuing, shall be entitled to an additional credit against the Fixed Rent (in addition to
any abatement of Fixed Rent to which Tenant is otherwise entitled) equal to one day of Fixed Rent payable for such floor for each day beyond the Outside HVAC Date or the Outside Restroom Work Date or the Outside Demolition Date (as the case may be)
that such work has not been completed on such floor. To the extent that such work shall be delayed beyond the Outside HVAC Date or the Outside Restroom Work Date or the Outside Demolition Date by reason of Tenant Delay or Unavoidable Delay, the date
that shall constitute the Outside HVAC Date or the Outside Restroom Work Date or the Outside Demolition Date shall be delayed by the period of time equal to the duration of all such delays. In addition, to the extent the delay in the completion of
such work beyond the Outside HVAC Date or the Outside Restroom Work Date or the Outside Demolition Work does not result in an actual delay in Tenant’s ability to occupy such floor of the Premises for the conduct of its business, then Tenant
shall not be entitled to such abatement of Fixed Rent. The foregoing provisions of this Section 45.5 shall not preclude Tenant from enforcing any rights that it may have at law or in equity for Landlord’s breach of its obligation to
perform the particular element of Landlord’s Work in accordance with the provisions of this Lease. 
 Section 45.6 To the extent that
Landlord has not (i) completed the Building Lobby Work, Building Storefront Work and Stairwell Work by the date that is eighteen (18) months after the date of this Lease or the Elevator Work relating to the passenger elevators in the
Building by August 31, 2007, (ii) Tenant gives Landlord Notice that Tenant shall be entitled to the abatement described below and (iii) such failure contains for five (5) Business Days after Landlord’s receipt of such Notice
(such fifth (5th) Business Day with respect to the Building Lobby Work, Building Storefront Work and Stairwell
Work, the “Outside Lobby Work Date” and such fifth (5th) Business Day with respect to the
passenger Elevator Work, the “Outside Elevator Work Date”), then Tenant, provided that no Event of Default shall have occurred and be continuing, shall be entitled to an additional credit against the Fixed Rent (in addition to any
abatement of Fixed Rent to which Tenant is otherwise entitled) equal to $333.33 per day for each day beyond the Outside Lobby Work Date or the Outside Elevator Work Date (as the case may be) that such work has not been completed for the first 90
days of such delay and $500 per day for each day thereafter of such delay. To the extent that such work shall be delayed beyond the Outside Lobby Work Date or the Outside Elevator Work Date by reason of Tenant Delay or Unavoidable Delay, the date
that shall constitute the Outside Lobby Work Date or the Outside 

  

 101 

 
Elevator Work Date shall be delayed by the period of time equal to the duration of all such delays. Subject to the limitation contained in
Section 44.1(C), the foregoing provisions of this Section 45.6 shall not preclude Tenant from enforcing any rights that it may have at law or in equity for Landlord’s breach of its obligation to perform the particular
element of Landlord’s Work in accordance with the provisions of this Lease. 
 ARTICLE 46 
 EXISTING SUBLEASE; BASEMENT SPACE 
 Section 46.1 Tenant is presently a subtenant of portions of the Premises pursuant to a sublease (the “VNU Sublease”) with VNU Business Media, Inc., (“VNU”). From and after the First Commencement Date,
Tenant may request overtime and special services for the Premises (including for portions of the Premises for which the Commencement Date under this Lease has not yet occurred) directly from Landlord and Landlord shall bill Tenant directly for such
services, rather than billing VNU for such services, which are then passed along to Tenant under the VNU Sublease. The foregoing shall not affect the existing billing procedures with respect to Escalation Rent, which Landlord shall continue to bill
directly to VNU under its lease (and as to which VNU thereafter bills Tenant under the VNU Sublease). Provided Landlord obtains VNU’s consent, Landlord shall send to Tenant copies of statements or notices sent to VNU with respect to real estate
taxes and operating expenses payable by VNU at the same time as Landlord sends such statements or notices to VNU. 
 Section 46.2 Upon the
expiration or sooner termination of the VNU lease with Landlord, Landlord hereby leases to Tenant the basement space occupied by Tenant under the VNU Sublease, which Landlord and Tenant agree contains 2,900 usable square feet. Tenant shall use such
basement space for storage purposes only. Tenant shall pay Landlord Fixed Rent for such storage space in the amount of $58,000 per annum ($4,833.33 per month). Landlord shall not be obligated to provide any services to such basement space, other
than electricity and Tenant shall not be obligated to pay Escalation Rent for such storage space. In addition, provided Landlord obtains VNU’s consent, Tenant agrees that Landlord, at its cost, may relocate (and lease directly to Tenant) the
storage space occupied by Tenant under the VNU Sublease to comparably sized storage space on the south side of the basement, and Tenant shall pay Fixed Rent for such storage space in the amount of $43,500 per annum ($3,625 per month), which Fixed
Rent shall be proportionately reduced if the relocated storage space has fewer than 2,900 usable square feet. If such relocated storage space has greater than 2,900 usable square feet, Tenant shall not be obligated to pay any increase in the Fixed
Rent therefor. 
  

 102 

 IN WITNESS WHEREOF, Landlord and Tenant have duly executed this Lease as of the day and year first above
written. 
  

			
	LANDLORD:
	
	 345 PAS OWNER, LLC, a Delaware limited
 liability company

		
	 By:
	 	 /s/ Aby Rosen

	 Name:
	 	 Aby Rosen

	 Title:
	 	 Member

  

			
	TENANT:
	
	 DIGITAS INC.,
 a Delaware corporation

		
	 By:
	 	 /s/ Brian K. Roberts

	 Name:
	 	 Brian K. Roberts

	 Title:
	 	 CFO

  

			
	
	 Tenant’s Federal Employer Identification Number

	
	 04-3494311

  

 103Credit Agreement

 Exhibit 10.2 
  

 Published CUSIP Number:
                 
 CREDIT AGREEMENT 

Dated as of March 29, 2006 
 among

 AMERICAN FINANCIAL GROUP, INC., 
 as a Borrower, 
 AAG HOLDING COMPANY, INC., 
 as a Borrower 
 BANK OF AMERICA, N.A., 
 as Administrative Agent, 
 KEYBANK NATIONAL ASSOCIATION 
 and 
 NATIONAL CITY BANK, 
 As Co-Syndication Agents 
 and 
 US BANK, N.A. 
 As Documentation Agent

 and 
 The Other Lenders Party
Hereto 
 BANC OF AMERICA SECURITIES LLC, as 
 Sole Lead Arranger and Sole Book Manager 
  

 TABLE OF CONTENTS 
  

					
	 Section
	  	 	  	Page
		
	 ARTICLE I  DEFINITIONS AND ACCOUNTING TERMS
	  	1
			
	         1.01
	  	 Defined Terms
	  	1
	 1.02
	  	 Other Interpretive Provisions
	  	21
	 1.03
	  	 Accounting Terms
	  	22
	 1.04
	  	 Rounding
	  	23
	 1.05
	  	 Times of Day
	  	23
	 1.06
	  	 Letter of Credit Amounts
	  	23
		
	 ARTICLE II  THE COMMITMENTS AND CREDIT EXTENSIONS
	  	23
			
	 2.01
	  	 Revolving Loans
	  	23
	 2.02
	  	 Revolving Borrowings, Conversions and Continuations of Revolving Loans
	  	23
	 2.03
	  	 Letters of Credit
	  	25
	 2.04
	  	 Prepayments
	  	33
	 2.05
	  	 Termination or Reduction of Commitments
	  	34
	 2.06
	  	 Repayment
	  	34
	 2.07
	  	 Interest
	  	34
	 2.08
	  	 Fees
	  	35
	 2.09
	  	 Computation of Interest and Fees
	  	36
	 2.10
	  	 Evidence of Debt
	  	36
	 2.11
	  	 Payments Generally; Administrative Agent’s Clawback
	  	36
	 2.12
	  	 Sharing of Payments by Lenders
	  	38
	 2.13
	  	 Increase in Commitments.
	  	39
		
	 ARTICLE III  TAXES, YIELD PROTECTION AND ILLEGALITY
	  	40
			
	 3.01
	  	 Taxes
	  	40
	 3.02
	  	 Illegality
	  	42
	 3.03
	  	 Inability to Determine Rates
	  	43
	 3.04
	  	 Increased Costs; Reserves on Eurodollar Rate Loans
	  	43
	 3.05
	  	 Compensation for Losses
	  	44
	 3.06
	  	 Mitigation Obligations; Replacement of Lenders
	  	45
	 3.07
	  	 Survival
	  	46
		
	 ARTICLE IV  CONDITIONS PRECEDENT TO CREDIT EXTENSIONS
	  	46
			
	 4.01
	  	 Conditions of Initial Credit Extension
	  	46
	 4.02
	  	 Conditions to all Credit Extensions
	  	48
		
	 ARTICLE V  REPRESENTATIONS AND WARRANTIES
	  	48
			
	 5.01
	  	 Existence, Qualification and Power
	  	48
	 5.02
	  	 Authorization; No Contravention
	  	48
	 5.03
	  	 Governmental Authorization; Other Consents
	  	49
	 5.04
	  	 Binding Effect
	  	49
	 5.05
	  	 Financial Statements; No Material Adverse Effect.
	  	49

  

 i 

					
	         5.06
	  	 Litigation
	  	50
	 5.07
	  	 No Default
	  	50
	 5.08
	  	 Ownership of Property; Liens
	  	50
	 5.09
	  	 Environmental Compliance
	  	50
	 5.10
	  	 Insurance
	  	50
	 5.11
	  	 Taxes
	  	50
	 5.12
	  	 ERISA Compliance
	  	51
	 5.13
	  	 Subsidiaries; Equity Interests
	  	51
	 5.14
	  	 Margin Regulations; Investment Company Act; Public Utility Holding Company Act
	  	52
	 5.15
	  	 Disclosure
	  	52
	 5.16
	  	 Compliance with Laws
	  	52
	 5.17
	  	 Taxpayer Identification Number
	  	52
	 5.18
	  	 Intellectual Property; Licenses, Etc
	  	52
		
	 ARTICLE VI  AFFIRMATIVE COVENANTS
	  	53
			
	 6.01
	  	 Financial Statements
	  	53
	 6.02
	  	 Certificates; Other Information
	  	54
	 6.03
	  	 Notices
	  	56
	 6.04
	  	 Payment of Obligations
	  	57
	 6.05
	  	 Preservation of Existence, Etc
	  	57
	 6.06
	  	 Maintenance of Properties
	  	57
	 6.07
	  	 Maintenance of Insurance
	  	57
	 6.08
	  	 Compliance with Laws
	  	57
	 6.09
	  	 Books and Records
	  	58
	 6.10
	  	 Inspection Rights
	  	58
	 6.11
	  	 Use of Proceeds
	  	58
	 6.12
	  	 Maintenance of Insurance Licenses
	  	58
		
	 ARTICLE VII  NEGATIVE COVENANTS
	  	58
			
	 7.01
	  	 Liens
	  	58
	 7.02
	  	 Investments
	  	59
	 7.03
	  	 Indebtedness
	  	59
	 7.04
	  	 Fundamental Changes
	  	59
	 7.05
	  	 Restricted Payments; Stock Redemptions
	  	60
	 7.06
	  	 Change in Nature of Business
	  	61
	 7.07
	  	 Transactions with Affiliates
	  	61
	 7.08
	  	 Burdensome Agreements
	  	61
	 7.09
	  	 Use of Proceeds
	  	61
	 7.10
	  	 Financial Covenants
	  	61
	 7.11
	  	 Additional Debt Subordination
	  	62
	 7.12
	  	 Tax Sharing Agreements
	  	62
	 7.13
	  	 Equity Issuances by Subsidiaries
	  	63
	 7.14
	  	 AFG Bonds and AAG Bonds
	  	63
		
	 ARTICLE VIII  EVENTS OF DEFAULT AND REMEDIES
	  	63
			
	 8.01
	  	 Events of Default
	  	63

  

 ii 

							
	         8.02
	  	 Remedies Upon Event of Default
	  		  	65
	 8.03
	  	 Application of Funds
	  		  	66
			
	 ARTICLE IX  ADMINISTRATIVE AGENT
	  		  	66
				
	 9.01
	  	 Appointment and Authority
	  		  	66
	 9.02
	  	 Rights as a Lender
	  		  	67
	 9.03
	  	 Exculpatory Provisions
	  		  	67
	 9.04
	  	 Reliance by Administrative Agent
	  		  	68
	 9.05
	  	 Delegation of Duties
	  		  	68
	 9.06
	  	 Resignation of Administrative Agent
	  		  	68
	 9.07
	  	 Non-Reliance on Administrative Agent and Other Lenders
	  		  	69
	 9.08
	  	 No Other Duties, Etc
	  		  	69
	 9.09
	  	 Administrative Agent May File Proofs of Claim
	  		  	69
			
	 ARTICLE X  MISCELLANEOUS
	  		  	70
				
	 10.01
	  	 Amendments, Etc
	  		  	70
	 10.02
	  	 Notices; Effectiveness; Electronic Communication.
	  		  	71
	 10.03
	  	 No Waiver; Cumulative Remedies
	  		  	73
	 10.04
	  	 Expenses; Indemnity; Damage Waiver
	  		  	73
	 10.05
	  	 Payments Set Aside
	  		  	75
	 10.06
	  	 Successors and Assigns
	  		  	76
	 10.07
	  	 Treatment of Certain Information; Confidentiality
	  		  	79
	 10.08
	  	 Right of Setoff
	  		  	80
	 10.09
	  	 Interest Rate Limitation
	  		  	81
	 10.10
	  	 Counterparts; Integration; Effectiveness
	  		  	81
	 10.11
	  	 Survival of Representations and Warranties
	  		  	81
	 10.12
	  	 Severability
	  		  	81
	 10.13
	  	 Replacement of Lenders
	  		  	81
	 10.14
	  	 Governing Law; Jurisdiction; Etc
	  		  	82
	 10.15
	  	 Waiver of Jury Trial
	  		  	83
	 10.16
	  	 No Advisory or Fiduciary Responsibility
	  		  	83
	 10.17
	  	 USA PATRIOT Act Notice
	  		  	84
	 10.18
	  	 Entire Agreement
	  		  	84
			
	 SIGNATURES
	  		  	

  

 iii 

			
	 SCHEDULES

		
	         1.01
	  	 CDO Variable Interest Entities

	         1.02
	  	 Existing Letters of Credit

	         2.01
	  	 Commitments and Applicable Percentages

	         5.13
	  	 Subsidiaries; Other Equity Investments

	         10.02
	  	 Administrative Agent’s Office; Certain Addresses for Notices

	         10.06
	  	 Processing and Recordation Fees

	
	 EXHIBITS

		
		  	 Form of

		
	         A
	  	 Revolving Loan Notice

	         B
	  	 Note

	         C
	  	 Compliance Certificate

	         D
	  	 Assignment and Assumption

	         E
	  	 Subordination Agreement

	         F
	  	 AFG Guaranty

	         G
	  	 Joinder Agreement

  

 iv 

 CREDIT AGREEMENT 
 This CREDIT AGREEMENT (“Agreement”) is entered into as of March 29, 2006 among AMERICAN FINANCIAL GROUP, INC., an Ohio corporation (“AFG”), AAG HOLDING
COMPANY, INC., an Ohio corporation (“AAG”) (each of AFG and AAG are sometimes hereinafter referred to individually as a “Borrower” and collectively as the “Borrowers”), each lender from time to time party hereto
(collectively, the “Lenders” and individually, a “Lender”), KEYBANK NATIONAL ASSOCIATION and NATIONAL CITY BANK, as Co-Syndication Agents, US BANK, N.A., as Documentation Agent and BANK OF AMERICA, N.A., as
Administrative Agent. 
 The Borrowers have requested that the Lenders provide a revolving credit facility, and the Lenders
are willing to do so on the terms and conditions set forth herein. 
 In consideration of the mutual covenants and agreements
herein contained, the parties hereto covenant and agree as follows: 
 ARTICLE I 
 DEFINITIONS AND ACCOUNTING TERMS 
 1.01    Defined Terms.  As used in this Agreement, the following terms shall have the meanings set forth below: 
 “AAG” has the meaning specified in the introductory paragraph hereto. 
 “AAG Bonds” means the 6 7/8% Senior Notes, issued by AAG with a maturity date of June 1, 2008. 
 “AAG Capital Trust Securities” means capital stock issued by AAG Trust or any other trust or similar entity, the proceeds of which are invested by such Person in an equivalent amount of Subordinated Debentures. 

“AAG Trust” means collectively American Annuity Group Capital Trust II, a statutory trust formed under the laws of
the State of Delaware and Great American Financial Statutory Trust IV, a Connecticut statutory trust. 
 “Administrative Agent” means Bank of America in its capacity as administrative agent under any of the Loan Documents, or any successor administrative agent. 
 “Administrative Agent’s Office” means the Administrative Agent’s address and, as appropriate, account as set
forth on Schedule 10.02, or such other address or account as the Administrative Agent may from time to time notify to the Borrowers and the Lenders. 
 “Administrative Questionnaire” means an Administrative Questionnaire in a form supplied by the Administrative Agent. 
 “Affiliate” means, with respect to any Person, any other Person directly or indirectly Controlling, Controlled by or
under direct or indirect common Control with such Person and 

  

 1 

 
shall include (i) any officer or director or general partner of such Person and (ii) any Person or Affiliate of such Person that, directly or
indirectly, beneficially owns either (a) at least 30% of the outstanding voting equity securities or (b) at least 30% of all Equity Interests. 
 “AFG” has the meaning specified in the introductory paragraph hereto. 
 “AFG Bonds” means the 7 1/8% Senior Debentures issued by AFG with a maturity date of
December 15, 2007. 
 “AFG Capital Trust Securities” means capital stock issued by American
Financial Capital Trust I or any other trust or similar entity, the proceeds of which are invested by such Person in an equivalent amount of Subordinated Debentures. 
 “AFG Consolidated Net Worth” means, on any date, the sum of (a) amount reported by AFG, determined in accordance with GAAP on a consolidated basis, as “Total
Shareholders’ Equity” on its Form 10-K or Form 10-Q, but excluding (i) all amounts in respect of unrealized gains or losses recorded pursuant to FAS 115 and (ii) any mandatorily redeemable capital stock (or redeemable shares of
other beneficial interest) plus (b) to the extent not included in clause (a) above, Capital Trust Securities permitted by Section 7.13, in each case as determined in accordance with GAAP. 
 “AFG Consolidated Total Financing Debt” means, on any date, on a consolidated basis determined in accordance with GAAP
for AFG and its Subsidiaries (a) the sum of (i) indebtedness for borrowed money, or indebtedness evidenced by notes, debentures, Capitalized Leases, guarantees (excluding guarantees of indebtedness already included as Indebtedness)
or similar instruments, (ii) indebtedness for the deferred purchase price of assets (other than the normal trade accounts payable), and (iii) indebtedness in respect of mandatory redemption or dividend rights related to an Equity Interest,
but (b) excluding Indebtedness in respect of (i) the AFG Capital Trust Securities permitted by Section 7.13 (including the Subordinated Debentures), (ii) any collateralized debt obligation fund managed by AFG which
is listed on Schedule 1.01 and which Indebtedness in this clause (b) is carried as “Long Term Debt - Variable Interest Entities” on AFG’s balance sheet from time to time in accordance with GAAP, and (iii) Non-Recourse
Real Estate Indebtedness of AFG and its Subsidiaries. 
 “AFG Guaranty” means the Guaranty made by AFG,
substantially in the form of Exhibit F. 
 “AFG Total Capitalization” means, on any date, the sum
of (a) AFG Consolidated Total Financing Debt, plus (b) AFG Consolidated Net Worth, plus (c) all amounts appearing on a consolidated balance sheet of AFG and its Subsidiaries in the line item “Minority
Interest”, all determined in accordance with GAAP. 
 “Agent Parties” has the meaning specified in
Section 10.02(c). 
 “Aggregate Commitments” means the Commitments of all the Lenders.

 “Agreement” means this Credit Agreement. 
  

 2 

 “Applicable Percentage” means with respect to any Lender at any time,
the percentage (carried out to the ninth decimal place) of the Aggregate Commitments represented by such Lender’s Commitment at such time. If the commitment of each Lender to make Loans and the obligation of the L/C Issuer to make L/C Credit
Extensions have been terminated pursuant to Section 8.02 or if the Aggregate Commitments have expired, then the Applicable Percentage of each Lender shall be determined based on the Applicable Percentage of such Lender most recently in
effect, giving effect to any subsequent assignments. The initial Applicable Percentage of each Lender is set forth opposite the name of such Lender on Schedule 2.01 or in the Assignment and Assumption pursuant to which such Lender becomes a
party hereto, as applicable. 
 “Applicable Rate” means, from time to time, the following percentages per
annum, based upon the Debt Rating as set forth below: 
  

											
	Applicable Rate
	Pricing  
Level  	  	 Debt Ratings    
 S&P/Moody’s    
	  	Commitment            
Fee            	 	Eurodollar            
Rate
Loan            	 	Base Rate        
Loan        	 	Letter of        
Credit Fee        
	1	  	A-/A3 or better    	  	0.100%	 	0.500%	 	0.000%	 	0.500%
	2	  	BBB+/Baa1    	  	0.125%	 	0.600%	 	0.000%	 	0.600%
	3	  	BBB/Baa2    	  	0.150%	 	0.750%	 	0.000%	 	0.750%
	4	  	BBB-/Baa3    	  	0.175%	 	0.875%	 	0.000%	 	0.875%
	5	  	lower than BBB-/Baa3    	  	0.250%	 	1.250%	 	0.000%	 	1.250%

 “Debt Rating” means, as of any date of
determination, the rating as determined by either S&P or Moody’s (collectively, the “Debt Ratings”) of AFG’s non-credit-enhanced, senior unsecured long-term debt; provided that (a) if the respective Debt
Ratings issued by the foregoing rating agencies differ by one level, then the Pricing Level for the higher of such Debt Ratings shall apply (with the Debt Rating for Pricing Level 1 being the highest and the Debt Rating for Pricing Level 5 being the
lowest); (b) if there is a split in Debt Ratings of more than one level, then the Pricing Level that is one level higher than the Pricing Level of the lower Debt Rating shall apply; (c) if AFG has only one Debt Rating, the Pricing Level of
such Debt Rating shall apply; and (d) if AFG does not have a Debt Rating, Pricing Level 5 shall apply. 
 Initially, the Applicable Rate
shall be determined based upon the Debt Rating specified in the certificate delivered pursuant to Section 4.01(a)(vii). Thereafter, each change in the Applicable Rate resulting from a publicly announced change in the Debt Rating shall be
effective, in the case of an upgrade, during the period commencing on the date of delivery by AFG to the Administrative Agent of notice thereof pursuant to Section 6.03(e) and ending on the date immediately preceding the effective date
of the next such change and, in the case of a downgrade, during the period commencing on the date of the public announcement thereof and ending on the date immediately preceding the effective date of the next such change. 
 “Approved Bank” has the meaning specified in the definition of “Cash and Equivalents”. 
  

 3 

 “Approved Fund” means any Fund that is administered or managed by
(a) a Lender, (b) an Affiliate of a Lender or (c) an entity or an Affiliate of an entity that administers or manages a Lender. 
 “APU Holding” means APU Holding Company, an Ohio corporation. 
 “Arranger” means Banc of America Securities LLC, in its capacity as sole lead arranger and sole book manager. 
 “Assignee Group” means two or more Eligible Assignees that are Affiliates of one another or two or more Approved Funds managed by the same investment advisor. 
 “Assignment and Assumption” means an assignment and assumption entered into by a Lender and an assignee (with the
consent of any party whose consent is required by Section 10.06(b)), and accepted by the Administrative Agent, in substantially the form of Exhibit D or any other form approved by the Administrative Agent. 
 “Attributable Indebtedness” means, on any date, (a) in respect of any Capitalized Lease of any Person, the
capitalized amount thereof that would appear on a balance sheet of such Person prepared as of such date in accordance with GAAP, and (b) in respect of any Synthetic Lease Obligation, the capitalized amount of the remaining lease payments under
the relevant lease that would appear on a balance sheet of such Person prepared as of such date in accordance with GAAP if such lease were accounted for as a Capitalized Lease. 
 “Audited Financial Statements” means the audited consolidated balance sheet of AFG and its Subsidiaries for the fiscal year ended December 31, 2005 and the related
consolidated statements of income or operations, shareholders’ equity and cash flows for such fiscal year of AFG and its Subsidiaries, including the notes thereto. 
 “Auto-Extension Letter of Credit” has the meaning specified in Section 2.03(b)(iii). 
 “Availability Period” means the period from and including the Closing Date to the earliest of (a) the Maturity Date, (b) the date of termination of the Aggregate
Commitments pursuant to Section 2.05, and (c) the date of termination of the commitment of each Lender to make Loans pursuant to Section 8.02. 
 “Bank of America” means Bank of America, N.A. and its successors. 
 “Bankruptcy Code” means Title 11 of the United States Code. 
 “Base
Rate” means for any day a fluctuating rate per annum equal to the higher of (a) the Federal Funds Rate plus 1/2 of 1% and (b) the rate of interest in effect for such day as publicly announced from time to time by Bank of America
as its “prime rate.” The “prime rate” is a rate set by Bank of America based upon various factors including Bank of America’s costs and desired return, general economic conditions and other factors, and is used as a
reference point for pricing some loans, which may be priced at, above, or below such announced rate. Any change in such rate announced by Bank of America shall take effect at the opening of business on the day specified in the public announcement of
such change. 
  

 4 

 “Base Rate Loan” means a Revolving Loan that bears interest based on the
Base Rate. 
 “Borrower” and “Borrowers” have the meaning specified in the introductory
paragraph hereto. 
 “Borrowers’ Materials” has the meaning specified in Section 6.02.

 “Business Day” means any day other than a Saturday, Sunday or other day on which commercial banks are
authorized to close under the Laws of, or are in fact closed in, the State of New York or the state where the Administrative Agent’s Office is located and, if such day relates to any Eurodollar Rate Loan, means any such day on which dealings in
Dollar deposits are conducted by and between banks in the London interbank eurodollar market. 
 “Capital Trust
Securities” means either AAG Capital Trust Securities or AFG Capital Trust Securities, as applicable. 
 “Capitalized Lease” means any lease which is required to be capitalized on the balance sheet of the lessee in accordance with GAAP and Statement No. 13 of the Financial Accounting Standards Board. 
 “Capitalized Lease Obligations” means the amount of the liability reflecting the aggregate discounted amount of future
payments under all Capitalized Leases calculated in accordance with GAAP and Statement No. 13 of the Financial Accounting Standards Board. 
 “Cash and Equivalents” means unrestricted and unencumbered (a) cash, (b) securities based or directly and fully guaranteed or insured by the United States of America or any agency or
instrumentality thereof (provided that the full faith and credit of the United States of America is pledged in support thereof) having maturities of not more than 180 days from the date of acquisition, (c) Dollar denominated time and demand
deposits and certificates of deposit of (i) any Lender, (ii) any domestic commercial bank having capital and surplus in excess of $500,000,000 or (iii) any bank whose short-term commercial paper rating from S&P is at least A-2 or
the equivalent thereof or from Moody’s is at least P-2 or the equivalent thereof (any such bank being an “Approved Bank”), in each case with maturities of not more than 180 days from the date of acquisition, (d) commercial
paper and variable or fixed rate notes issued by any Approved Bank (or by the parent company thereof) or any variable rate notes issued by, or guaranteed by, any domestic corporation rated A-2 (or the equivalent thereof) or better by S&P or P-2
(or the equivalent thereof) or better by Moody’s and maturing within 180 days of the date of acquisition, (e) repurchase agreements with a bank or trust company (including any of the Lenders) or recognized securities dealer having capital
and surplus in excess of $500,000,000 for direct obligations issued by or fully guaranteed by the United States of America in which AFG or any of its Subsidiaries shall have a perfected first priority security interest (subject to no other Liens)
and having, on the date of purchase thereof, a fair market value of at least 100% of the repurchase obligations, (f) Investments, classified in accordance with GAAP as current assets, in money market investments programs registered under the
Investment Company Act of 1940, as amended, which are administered by reputable financial institutions having capital of at least $500,000,000. 
 “Cash Collateralize” has the meaning specified in Section 2.03(g). 
  

 5 

 “Change in Law” means the occurrence, after the date of this Agreement,
of any of the following: (a) the adoption or taking effect of any law, rule, regulation or treaty, (b) any change in any law, rule, regulation or treaty or in the administration, interpretation or application thereof by any Governmental
Authority or (c) the making or issuance of any request, guideline or directive (whether or not having the force of law) by any Governmental Authority. 
 “Change of Control” means an event or series of events by which (a) Lindner Family Members shall collectively cease to own beneficially (i) at least 15% of the
outstanding voting common stock of AFG and (ii) a sufficient number of shares of such voting common stock of AFG so that Lindner Family Members in the aggregate own more shares of such voting common stock than any other Person or group of
Persons, (b) fewer than 10% of the members of the board of directors of AFG shall be Lindner Family Members or representatives thereof, (c) AFG shall cease to own directly, or indirectly through a direct non-regulated subsidiary holding
company (which does not (i) have any material Indebtedness, (ii) transact any material business and (iii) own any material assets other than Equity Interests of GAIC and other Insurance Subsidiaries) in which AFG owns 100% of the
Equity Interests, 100% of the voting common stock of GAIC, (d) GAFRI, AAG, or any of their respective Subsidiaries (or any combination thereof) shall cease to own, directly or indirectly through a direct non-regulated holding company (which
does not (i) have any material Indebtedness, (ii) transact any material business, and (iii) own any material assets other than Equity Interests of GALIC and other Insurance Subsidiaries) in which GAFRI, AAG or one of their respective
Subsidiaries (or any combination thereof) owns 100% of the Equity Interests, 100% of the voting common stock of GALIC, or (e) any Change of Control (howsoever defined) shall occur with respect to any other Indebtedness of AFG or any of its
Subsidiaries. 
 “Closing Date” means the first date all the conditions precedent in
Section 4.01 are satisfied or waived in accordance with Section 10.01. 
 “Code”
means the Internal Revenue Code of 1986. 
 “Commitment” means, as to each Lender, its obligation to
(a) make Revolving Loans to the Borrowers pursuant to Section 2.01 and (b) purchase participations in L/C Obligations, in an aggregate principal amount at any one time outstanding not to exceed the amount set forth opposite
such Lender’s name on Schedule 2.01 or in the Assignment and Assumption pursuant to which such Lender becomes a party hereto, as applicable, as such amount may be adjusted from time to time in accordance with this Agreement. 

“Compliance Certificate” means a certificate substantially in the form of Exhibit C. 
 “Consolidated Net Income” means, for any period, the net income (or loss) of AFG and its Subsidiaries, determined in
accordance with GAAP on a consolidated basis, and as reported by AFG on its Form 10-K or Form 10-Q. 
 “Contractual
Obligation” means, as to any Person, any provision of any security issued by such Person or of any agreement, instrument or other undertaking to which such Person is a party or by which it or any of its property is bound. 
  

 6 

 “Control” means the possession, directly or indirectly, of the power to
direct or cause the direction of the management or policies of a Person, whether through the ability to exercise voting power, by contract or otherwise. “Controlling” and “Controlled” have meanings correlative
thereto. 
 “Credit Extension” means each of the following: (a) a Revolving Borrowing and (b) an
L/C Credit Extension. 
 “Debt Rating” has the meaning specified in the definition of “Applicable
Rate.” 
 “Debtor Relief Laws” means the Bankruptcy Code of the United States, and all other
liquidation, conservatorship, bankruptcy, assignment for the benefit of creditors, moratorium, rearrangement, receivership, insolvency, reorganization, or similar debtor relief Laws of the United States or other applicable jurisdictions from time to
time in effect and affecting the rights of creditors generally. 
 “Default” means any event or condition
that constitutes an Event of Default or that, with the giving of any notice, the passage of time, or both, would be an Event of Default. 
 “Default Rate” means (a) when used with respect to Obligations other than Letter of Credit Fees, an interest rate equal to (i) the Base Rate plus (ii) the Applicable Rate, if
any, applicable to Base Rate Loans plus (iii) 2% per annum; provided, however, that with respect to a Eurodollar Rate Loan, the Default Rate shall be an interest rate equal to the interest rate (including any
Applicable Rate) otherwise applicable to such Loan plus 2% per annum, and (b) when used with respect to the Letter of Credit Fees, a rate equal to the Applicable Rate plus 2% per annum. 
 “Defaulting Lender” means any Lender that (a) has failed to fund any portion of the Revolving Loans or
participations in L/C Obligations required to be funded by it hereunder within one Business Day of the date required to be funded by it hereunder unless such failure has been cured, (b) has otherwise failed to pay over to the Administrative
Agent or any other Lender any other amount required to be paid by it hereunder within one Business Day of the date when due, unless the subject of a good faith dispute or unless such failure has been cured, or (c) has been deemed insolvent or
become the subject of a bankruptcy or insolvency proceeding. 
 “Disposition” or “Dispose”
means the sale, transfer, license, lease or other disposition (including any sale and leaseback transaction) of any property by any Person, including any sale, assignment, transfer or other disposal, with or without recourse, of any notes or
accounts receivable or any rights and claims associated therewith. 
 “Dollar” and “$” mean
lawful money of the United States. 
 “Eligible Assignee” means any Person that meets the requirements to be
an assignee under Section 10.06(b)(iii), (v) and (vi), subject to such consents, if any, as may be required under Section 10.06(b)(iii). 
 “Environmental Laws” means any and all Federal, state, local, and foreign statutes, laws, regulations, ordinances,
rules, judgments, orders, decrees, permits, concessions, grants, 

  

 7 

 
franchises, licenses, agreements or governmental restrictions relating to pollution and the protection of the environment or the release of any materials
into the environment, including those related to hazardous substances or wastes, air emissions and discharges to waste or public systems. 
 “Environmental Liability” means any liability, contingent or otherwise (including any liability for damages, costs of environmental remediation, fines, penalties or indemnities), of AFG or any of its
Subsidiaries directly or indirectly resulting from or based upon (a) violation of any Environmental Law, (b) the generation, use, handling, transportation, storage, treatment or disposal of any Hazardous Materials, (c) exposure to any
Hazardous Materials, (d) the release or threatened release of any Hazardous Materials into the environment or (e) any contract, agreement or other consensual arrangement pursuant to which liability is assumed or imposed with respect to any
of the foregoing. 
 “Equity Interests” means, with respect to any Person, all of the shares of capital
stock of (or other ownership or profit interests in) such Person, all of the warrants, options or other rights for the purchase or acquisition from such Person of shares of capital stock of (or other ownership or profit interests in) such Person,
all of the securities convertible into or exchangeable for shares of capital stock of (or other ownership or profit interests in) such Person or warrants, rights or options for the purchase or acquisition from such Person of such shares (or such
other interests), and all of the other ownership or profit interests in such Person (including partnership, member or trust interests therein), whether voting or nonvoting, and whether or not such shares, warrants, options, rights or other interests
are outstanding on any date of determination. 
 “ERISA” means the Employee Retirement Income Security Act
of 1974. 
 “ERISA Affiliate” means any trade or business (whether or not incorporated) under common control
with either Borrower within the meaning of Section 414(b) or (c) of the Code (and Sections 414(m) and (o) of the Code for purposes of provisions relating to Section 412 of the Code). 
 “ERISA Event” means (a) a Reportable Event with respect to a Pension Plan; (b) a withdrawal by either Borrower
or any ERISA Affiliate thereof from a Pension Plan subject to Section 4063 of ERISA during a plan year in which it was a substantial employer (as defined in Section 4001(a)(2) of ERISA) or a cessation of operations that is treated as such
a withdrawal under Section 4062(e) of ERISA; (c) a complete or partial withdrawal by AFG or any ERISA Affiliate thereof from a Multiemployer Plan or notification that a Multiemployer Plan is in reorganization; (d) the filing of a
notice of intent to terminate, the treatment of a Plan amendment as a termination under Section 4041 or 4041A of ERISA, or the commencement of proceedings by the PBGC to terminate a Pension Plan or Multiemployer Plan; (e) an event or
condition which constitutes grounds under Section 4042 of ERISA for the termination of, or the appointment of a trustee to administer, any Pension Plan or Multiemployer Plan; or (f) the imposition of any liability under Title IV of ERISA,
other than for PBGC premiums due but not delinquent under Section 4007 of ERISA, upon AFG or any ERISA Affiliate thereof. 
 “Eurodollar Rate” means, for any Interest Period with respect to a Eurodollar Rate Loan, the rate per annum equal to the British Bankers Association LIBOR Rate (“BBA LIBOR”), as 

  

 8 

 
published by Reuters (or other commercially available source providing quotations of BBA LIBOR as designated by the Administrative Agent from time to time)
at approximately 11:00 a.m., London time, two Business Days prior to the commencement of such Interest Period, for Dollar deposits (for delivery on the first day of such Interest Period) with a term equivalent to such Interest Period. If such rate
is not available at such time for any reason, then the “Eurodollar Rate” for such Interest Period shall be the rate per annum determined by the Administrative Agent to be the rate at which deposits in Dollars for delivery on the first day
of such Interest Period in same day funds in the approximate amount of the Eurodollar Rate Loan being made, continued or converted by Bank of America and with a term equivalent to such Interest Period would be offered by Bank of America’s
London Branch to major banks in the London interbank eurodollar market at their request at approximately 11:00 a.m. (London time) two Business Days prior to the commencement of such Interest Period. 
 “Eurodollar Rate Loan” means a Revolving Loan that bears interest at a rate based on the Eurodollar Rate. 
 “Event of Default” has the meaning specified in Section 8.01. 
 “Exchange Act” means the Securities Exchange Act of 1934. 
 “Excluded Taxes” means, with respect to the Administrative Agent, the L/C Issuer, any Lender or any other recipient of
any payment to be made by or on account of any obligation of either Borrower hereunder or under any other Loan Document, (a) taxes imposed on or measured by its overall net income (however denominated), and franchise taxes imposed on it (in
lieu of net income taxes), by the jurisdiction (or any political subdivision thereof) under the laws of which such recipient is organized or in which its principal office is located or, in the case of any Lender, in which its applicable Lending
Office is located, (b) any branch profits taxes imposed by the United States or any similar tax imposed by any other jurisdiction in which either Borrower is located and (c) in the case of a Foreign Lender (other than an assignee pursuant
to a request by AFG under Section 10.13), any withholding tax that is imposed on amounts payable to such Foreign Lender at the time such Foreign Lender becomes a party hereto (or designates a new Lending Office) or is attributable to
such Foreign Lender’s failure or inability (other than as a result of a Change in Law) to comply with Section 3.01(e), except to the extent that such Foreign Lender (or its assignor, if any) was entitled, at the time of designation
of a new Lending Office (or assignment), to receive additional amounts from either Borrower with respect to such withholding tax pursuant to Section 3.01(a). 
 “Existing AFG Credit Agreement” means that certain Credit Agreement dated as of November 19, 2004 among AFG, Bank of America, as administrative agent, and a syndicate of
lenders, as amended, modified or supplemented from time to time. 
 “Existing GAFRI Credit Agreement” means
that certain Credit Agreement dated as of August 31, 2004 among GAFRI, AAG and Bank of America, as administrative agent, and a syndicate of lenders, as amended, modified or supplemented from time to time. 
 “Existing Letters of Credit” means those Letters of Credit set forth on Schedule 1.02. 
  

 9 

 “Federal Funds Rate” means, for any day, the rate per annum equal to the
weighted average of the rates on overnight Federal funds transactions with members of the Federal Reserve System arranged by Federal funds brokers on such day, as published by the Federal Reserve Bank of New York on the Business Day next succeeding
such day; provided that (a) if such day is not a Business Day, the Federal Funds Rate for such day shall be such rate on such transactions on the next preceding Business Day as so published on the next succeeding Business Day, and
(b) if no such rate is so published on such next succeeding Business Day, the Federal Funds Rate for such day shall be the average rate (rounded upward, if necessary, to a whole multiple of 1/100 of 1%) charged to Bank of America on such day on
such transactions as determined by the Administrative Agent. 
 “Fee Letter” means the letter agreement,
dated February 10, 2006, among AFG, AAG, the Administrative Agent and the Arranger. 
 “Foreign Lender”
means any Lender that is organized under the laws of a jurisdiction other than that in which either Borrower is resident for tax purposes. For purposes of this definition, the United States, each State thereof and the District of Columbia shall be
deemed to constitute a single jurisdiction. 
 “FRB” means the Board of Governors of the Federal Reserve
System of the United States. 
 “Fund” means any Person (other than a natural person) that is (or will be)
engaged in making, purchasing, holding or otherwise investing in commercial loans and similar extensions of credit in the ordinary course of its business. 
 “GAAP” means generally accepted accounting principles in the United States set forth in the opinions and pronouncements of the Accounting Principles Board and the American Institute of Certified
Public Accountants and statements and pronouncements of the Financial Accounting Standards Board or such other principles as may be approved by a significant segment of the accounting profession in the United States, that are applicable to the
circumstances as of the date of determination, consistently applied. 
 “GAFRI” means Great American
Financial Resources, Inc., a Delaware corporation. 
 “GAFRI Consolidated Financing Debt” means on a
consolidated basis for GAFRI and its Subsidiaries the sum of (a)(i) indebtedness for borrowed money, or indebtedness evidenced by notes, debentures (excluding any subordinated debentures issued by AAG to AAG Trust and other similar entities),
Capitalized Leases, guarantees (excluding guarantees of indebtedness already included as GAFRI Consolidated Financing Debt) or similar instruments, (ii) indebtedness for the deferred purchase price of assets (other than the normal trade
accounts payable), and (iii) indebtedness in respect of mandatory redemption or dividend rights related to an Equity Interest, minus the sum of (b)(i) all Cash and Equivalents in excess of $5,000,000 held by GAFRI and AAG, on a holding
company only basis, and other non-insurance Subsidiaries so long as the movement of cash to GAFRI and AAG is not restricted, (ii) any collateralized debt obligation fund managed by GAFRI which is listed on Schedule 1.01 and which
Indebtedness in this clause (b)(ii) is carried as “Long Term Debt – Variable Interest Entities” on GAFRI’s 

  

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balance sheet from time to time in accordance with GAAP, and (iii) Non-Recourse Real Estate Indebtedness of GAFRI and its Subsidiaries. For purposes of
this definition, “Cash and Equivalents” shall mean unencumbered cash and short-term investments, fixed income securities, and equity securities (excluding GAFRI and/or its Subsidiaries securities) at market value. 
 “GAFRI Consolidated Net Worth” means, on any date, the amount reported by GAFRI, determined in accordance with GAAP on a
consolidated basis, as “Total Shareholders’ Equity” on its Form 10-K or Form 10-Q. Notwithstanding the foregoing, the calculation of GAFRI Consolidated Net Worth shall (a) include the preferred securities of AAG Trust and other
similar entities (to the extent the proceeds of such preferred securities were, or will be, used to purchase subordinated debentures issued by GAFRI or one of its Subsidiaries) and (b) exclude (i) all amounts in respect of unrealized gains
or losses recorded pursuant to FAS 115, and (ii) preferred stock which is required to be included as GAFRI Consolidated Financing Debt. 
 “GAFRI Total Capitalization” means, as of any date the sum of (a) GAFRI Consolidated Financing Debt, plus (b) GAFRI Consolidated Net Worth. 
 “GAIC” means Great American Insurance Company, an Ohio insurance company. 
 “GALIC” means Great American Life Insurance Company, an Ohio insurance company. 
 “Governmental Authority” means the government of the United States or any other nation, or of any political subdivision
thereof, whether state or local, any Insurance Authorities, and any agency, authority, instrumentality, regulatory body, court, central bank or other entity exercising executive, legislative, judicial, taxing, regulatory or administrative powers or
functions of or pertaining to government (including any supra-national bodies such as the European Union or the European Central Bank). 
 “Guarantee” means, as to any Person, any (a) obligation, contingent or otherwise, of such Person guaranteeing or having the economic effect of guaranteeing any Indebtedness or other obligation
payable or performable by another Person (the “primary obligor”) in any manner, whether directly or indirectly, and including any obligation of such Person, direct or indirect, (i) to purchase or pay (or advance or supply funds for
the purchase or payment of) such Indebtedness or other obligation, (ii) to purchase or lease property, securities or services for the purpose of assuring the obligee in respect of such Indebtedness or other obligation of the payment or
performance of such Indebtedness or other obligation, (iii) to maintain working capital, equity capital or any other financial statement condition or liquidity or level of income or cash flow of the primary obligor so as to enable the primary
obligor to pay such Indebtedness or other obligation, or (iv) entered into for the purpose of assuring in any other manner the obligee in respect of such Indebtedness or other obligation of the payment or performance thereof or to protect such
obligee against loss in respect thereof (in whole or in part), or (b) any Lien on any assets of such Person securing any Indebtedness or other obligation of any other Person, whether or not such Indebtedness or other obligation is assumed by
such Person (or any right, contingent or otherwise, of any holder of such Indebtedness to obtain any such Lien). The amount of any Guarantee shall be deemed to be an amount equal to the stated or determinable amount of the related primary
obligation, or portion thereof, in respect of which such Guarantee is made or, if 

  

 11 

 
not stated or determinable, the maximum reasonably anticipated liability in respect thereof as determined by the guaranteeing Person in good faith. The term
“Guarantee” as a verb has a corresponding meaning. 
 “Hazardous Materials” means all explosive or
radioactive substances or wastes and all hazardous or toxic substances, wastes or other pollutants, including petroleum or petroleum distillates, asbestos or asbestos-containing materials, polychlorinated biphenyls, radon gas, infectious or medical
wastes and all other substances or wastes of any nature regulated pursuant to any Environmental Law. 
 “Honor
Date” has the meaning specified in Section 2.03(c)(i). 
 “Increase Effective Date” has
the meaning specified in Section 2.13. 
 “Indebtedness” means, as to any Person at a particular
time, without duplication, all of the following, whether or not included as indebtedness or liabilities in accordance with GAAP: 
 (a)    all obligations of such Person for borrowed money and all obligations of such Person evidenced by bonds, debentures, notes, loan agreements or other similar instruments; 
 (b)    all direct or contingent obligations of such Person arising under letters of credit (including
standby and commercial), bankers’ acceptances, bank guaranties, surety bonds and similar instruments other than under insurance policies issued by an Insurance Subsidiary; 
 (c)    net obligations of such Person under any Swap Contract; 
 (d)    all obligations of such Person to pay the deferred purchase price of property or services
(other than trade accounts payable in the ordinary course of business); 
 (e)    indebtedness (excluding prepaid interest thereon) secured by a Lien on property owned or being purchased by such Person (including indebtedness arising under conditional sales or other title retention agreements),
whether or not such indebtedness shall have been assumed by such Person or is limited in recourse; 
 (f)    Capitalized Leases and Synthetic Lease Obligations; 
 (g)    all obligations of such Person to purchase, redeem, retire, defease or otherwise make any payment in respect of any Equity Interest in such Person or any other Person, valued, in the case of a redeemable preferred
interest, at the greater of its voluntary or involuntary liquidation preference plus accrued and unpaid dividends; and 
 (h)    all Guarantees of such Person in respect of any of the foregoing. 
 For all purposes hereof, the Indebtedness of any Person shall include the Indebtedness of any partnership or joint venture (other than a joint venture that is itself a corporation or limited 

  

 12 

 
liability company) in which such Person is a general partner or a joint venturer, unless such Indebtedness is expressly made non-recourse to such Person. The
amount of any net obligation under any Swap Contract on any date shall be deemed to be the Swap Termination Value thereof as of such date. The amount of any Capitalized Lease or Synthetic Lease Obligation as of any date shall be deemed to be the
amount of Attributable Indebtedness in respect thereof as of such date. 
 “Indemnified Taxes” means Taxes
other than Excluded Taxes. 
 “Indemnitees” has the meaning specified in Section 10.04(b).

 “Insurance Authorities” means collectively, in relation to any particular jurisdiction, the insurance
regulatory authorities, commissions, agencies, departments, boards or other authorities of or in that jurisdiction. 
 “Insurance Subsidiary” means each Significant Subsidiary of AFG engaged primarily in the insurance business and licensed as an insurance company in one or more states or Puerto Rico. 
 “Interest and Dividend Charges” means, for any period, with respect to AFG, the sum (without duplication) of
(a) the aggregate amount of interest, including commitment fees, charges in the nature of interest under Capitalized Leases and net amounts due under Swap Contracts, accrued directly by AFG (whether such interest is reflected as an item of
expense or capitalized but excluding interest on intercompany debt) in accordance with GAAP, plus (b) actual cash dividends (including liquidating distributions and dividends paid on AFG Capital Trust Securities) paid by AFG (other than
regular cash dividends paid on AFG’s common stock in amounts consistent with past practice and other than dividends paid to any holding company that is a Subsidiary of AFG) with respect to Equity Interests. 
 “Interest Payment Date” means, (a) as to any Loan other than a Base Rate Loan, the last day of each Interest Period
applicable to such Loan and the Maturity Date; provided, however, that if any Interest Period for a Eurodollar Rate Loan exceeds three months, the respective dates that fall every three months after the beginning of such Interest
Period shall also be Interest Payment Dates; and (b) as to any Base Rate Loan, the last Business Day of each March, June, September and December and the Maturity Date. 
 “Interest Period” means, as to each Eurodollar Rate Loan, the period commencing on the date such Eurodollar Rate Loan is disbursed or converted to or continued as a Eurodollar
Rate Loan and ending on the date one, two, three or six months (or other periods if available to all Lenders) thereafter, as selected by the applicable Borrower in its Revolving Loan Notice; provided that: 
 (i)    any Interest Period that would otherwise end on a day that is not a Business Day shall be
extended to the next succeeding Business Day unless such Business Day falls in another calendar month, in which case such Interest Period shall end on the next preceding Business Day; 
  

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 (ii)        any Interest Period
that begins on the last Business Day of a calendar month (or on a day for which there is no numerically corresponding day in the calendar month at the end of such Interest Period) shall end on the last Business Day of the calendar month at the end
of such Interest Period; and 
 (iii)        no Interest Period shall
extend beyond the Maturity Date. 
 “Internal Control Event” means a material weakness in, or fraud that
involves management or other employees who have a significant role in, AFG’s internal controls over financial reporting, in each case as described in the Securities Laws. 
 “Investment” means, as to any Person, any direct or indirect acquisition or investment by such Person, whether by means of (a) any loan, advance or extension of credit
(including Guarantees), (b) any capital contribution or purchase of Equity Interests, and (c) any acquisition of property other than upon full payment in cash at fair market value; provided, however that the term
“Investment” shall not include (i) investments and reinvestments in portfolio securities in the ordinary course of business, (ii) sales or other transfers of portfolio assets among AFG and its Subsidiaries in the ordinary course
of business, (iii) trade and customer accounts receivable for property leased, goods furnished or services rendered in the ordinary course of business and payable on a current basis in accordance with customary trade terms, (iv) deposits,
advances or prepayments to suppliers for property leased or licensed, goods furnished and services rendered in the ordinary course of business, (v) advances to employees for relocation and travel expenses, drawing accounts and similar
expenditures, (vi) stock or other securities acquired in connection with the satisfaction or enforcement of Indebtedness or claims due to any Person or as security for any such Indebtedness or claims or (vii) demand deposits in banks or
similar financial institutions. For purposes of covenant compliance, the amount of any Investment shall be the amount actually invested, without adjustment for subsequent increases or decreases in value of such Investment. 
 “IP Rights” has the meaning specified in Section 5.18. 
 “IRS” means the United States Internal Revenue Service. 
 “ISP” means, with respect to any Letter of Credit, the “International Standby Practices 1998” published by the
Institute of International Banking Law & Practice (or such later version thereof as may be in effect at the time of issuance). 
 “Issuer Documents” means with respect to any Letter of Credit, the Letter of Credit Application, and any other document, agreement and instrument entered into by the L/C Issuer and either Borrower (or
any Subsidiary) or in favor of the L/C Issuer and relating to such Letter of Credit. 
 “Joinder Agreement”
means the Joinder Agreement, substantially in the form of Exhibit G, executed by any Subsidiary of AFG (other than AAG) for whose account a Letter of Credit is issued. 
 “Laws” means, collectively, all international, foreign, Federal, state and local statutes, treaties, rules, guidelines, regulations, ordinances, codes and administrative or
judicial 

  

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precedents or authorities, including the interpretation or administration thereof by any Governmental Authority charged with the enforcement, interpretation
or administration thereof, and all applicable administrative orders, directed duties, requests, licenses, authorizations and permits of, and agreements with, any Governmental Authority, in each case whether or not having the force of law.

 “L/C Advance” means, with respect to each Lender, such Lender’s funding of its participation in any
L/C Borrowing in accordance with its Applicable Percentage. 
 “L/C Borrowing” means an extension of credit
resulting from a drawing under any Letter of Credit which has not been reimbursed on the date when made or refinanced as a Revolving Borrowing. 
 “L/C Credit Extension” means, with respect to any Letter of Credit, the issuance thereof or extension of the expiry date thereof, or the increase of the amount thereof. 
 “L/C Issuer” means Bank of America in its capacity as issuer of Letters of Credit hereunder, or any successor issuer of
Letters of Credit hereunder. 
 “L/C Obligations” means, as at any date of determination, the aggregate
amount available to be drawn under all outstanding Letters of Credit plus the aggregate of all Unreimbursed Amounts, including all L/C Borrowings. For purposes of computing the amount available to be drawn under any Letter of Credit, the
amount of such Letter of Credit shall be determined in accordance with Section 1.06. For all purposes of this Agreement, if on any date of determination a Letter of Credit has expired by its terms but any amount may still be drawn
thereunder by reason of the operation of Rule 3.14 of the ISP, such Letter of Credit shall be deemed to be “outstanding” in the amount so remaining available to be drawn. 
 “Lender” has the meaning specified in the introductory paragraph hereto. 
 “Lending Office” means, as to any Lender, the office or offices of such Lender described as such in such Lender’s
Administrative Questionnaire, or such other office or offices as a Lender may from time to time notify the Borrowers and the Administrative Agent. 
 “Letter of Credit” means any standby letter of credit issued hereunder, and shall include Existing Letters of Credit. 
 “Letter of Credit Application” means an application and agreement for the issuance or amendment of a Letter of Credit in the form from time to time in use by the L/C Issuer.

 “Letter of Credit Expiration Date” means the day that is seven days prior to the Maturity Date then in
effect (or, if such day is not a Business Day, the next preceding Business Day). 
 “Letter of Credit Fee”
has the meaning specified in Section 2.03(i). 
 “Letter of Credit Obligor” means AFG, AAG and
any Subsidiary who may execute a Joinder Agreement. 
  

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 “Letter of Credit Sublimit” means an amount equal to $25,000,000. The
Letter of Credit Sublimit is part of, and not in addition to, the Aggregate Commitments. 
 “Lien” means any
mortgage, pledge, hypothecation, assignment, deposit arrangement, encumbrance, lien (statutory or other), charge, or preference, priority or other security interest or preferential arrangement in the nature of a security interest of any kind or
nature whatsoever (including any conditional sale or other title retention agreement, any easement, right of way or other encumbrance on title to real property, and any financing lease having substantially the same economic effect as any of the
foregoing). 
 “Lindner Family Members” means Carl H. Lindner, his wife and all lineal descendents and their
wives, as well as trusts established by or for the benefit of such persons. 
 “Loan” means an extension of
credit by a Lender to either Borrower under Article II in the form of a Revolving Loan. 
 “Loan
Documents” means this Agreement, each Note, each Issuer Document, the Fee Letter, the Subordination Agreement, each Joinder Agreement and the AFG Guaranty. 
 “Loan Parties” means AFG, AAG and each other Letter of Credit Obligor. 
 “Material Adverse Effect” means (a) a material adverse change in, or a material adverse effect upon, the operations, business, properties, liabilities (actual or contingent), condition (financial
or otherwise) or prospects of AFG, individually, or AFG and its Subsidiaries, taken as a whole; (b) a material impairment of the ability of any Loan Party to perform its obligations under any Loan Document to which it is a party; or (c) a
material adverse effect upon the legality, validity, binding effect or enforceability against any Loan Party of any Loan Document to which it is a party. 
 “Maturity Date” means the earliest of (a) March 29, 2011 (provided, however, if such date is not a Business Day, the date which is the next preceding Business Day), (b) the date of
termination of the Aggregate Commitments pursuant to Section 2.05 and (c) the date of termination of the commitment of each Lender to make Loans pursuant to Section 8.02. 
 “Maximum Rate” has the meaning specified in Section 10.09. 
 “Moody’s” means Moody’s Investors Service, Inc. and any successor thereto. 
 “Multiemployer Plan” means any employee benefit plan of the type described in Section 4001(a)(3) of ERISA, to which
either Borrower or any ERISA Affiliate thereof makes or is obligated to make contributions, or during the preceding five plan years, has made or been obligated to make contributions. 
 “NAIC” means the National Association of Insurance Commissioners. 
 “National Interstate” means National Interstate Corporation, an Ohio corporation. 
 “Non-Extension Notice Date” has the meaning specified in Section 2.03(b)(iii). 
  

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 “Non-Recourse Real Estate Indebtedness” means, with respect to any
Person, any Indebtedness of such Person for which the owner of such Indebtedness has no recourse, directly or indirectly, to such Person for the principal of, premium, if any, and interest on such Indebtedness, and for which such Person is not
directly or indirectly obligated or otherwise liable for the principal of, premium, if any, and interest on such Indebtedness, except with respect to real property of such Person pursuant to mortgages, deeds of trust or other security interests to
which such Indebtedness relates, provided that recourse obligations or liabilities solely for fraud, environmental matters and other customary “non-recourse carve-outs” in respect of any Indebtedness will not prevent Indebtedness
from being classified as Non-Recourse Real Estate Indebtedness. 
 “Note” means a promissory note made by
each Borrower in favor of a Lender evidencing Loans made by such Lender, substantially in the form of Exhibit B. 
 “Obligations” means all advances to, and debts, liabilities, obligations, covenants and duties of, any Loan Party arising under any Loan Document or otherwise with respect to any Loan, whether direct or indirect (including
those acquired by assumption), absolute or contingent, due or to become due, now existing or hereafter arising and including interest and fees that accrue after the commencement by or against any Loan Party or any Affiliate thereof of any proceeding
under any Debtor Relief Laws naming such Person as the debtor in such proceeding, regardless of whether such interest and fees are allowed claims in such proceeding. 
 “Organization Documents” means, (a) with respect to any corporation, the certificate or articles of incorporation and the bylaws (or equivalent or comparable constitutive
documents with respect to any non-U.S. jurisdiction); (b) with respect to any limited liability company, the certificate or articles of formation or organization and operating agreement; and (c) with respect to any partnership, joint
venture, trust or other form of business entity, the partnership, joint venture or other applicable agreement of formation or organization and any agreement, instrument, filing or notice with respect thereto filed in connection with its formation or
organization with the applicable Governmental Authority in the jurisdiction of its formation or organization and, if applicable, any certificate or articles of formation or organization of such entity. 
 “Other Taxes” means all present or future stamp or documentary taxes or any other excise or property taxes, charges or
similar levies arising from any payment made hereunder or under any other Loan Document or from the execution, delivery or enforcement of, or otherwise with respect to, this Agreement or any other Loan Document. 
 “Outstanding Amount” means (a) with respect to Revolving Loans on any date, the aggregate outstanding principal
amount thereof after giving effect to any borrowings and prepayments or repayments of Revolving Loans, as the case may be, occurring on such date, and (b) with respect to any L/C Obligations on any date, the amount of such L/C Obligation on
such date after giving effect to any L/C Credit Extension occurring on such date and any other changes in the aggregate amount of the L/C Obligations as of such date, including as a result of any reimbursements by any Loan Party of Unreimbursed
Amounts. 
 “Participant” has the meaning specified in Section 10.06(d). 
  

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 “PBGC” means the Pension Benefit Guaranty Corporation. 
 “PCAOB” means the Public Company Accounting Oversight Board. 
 “Pension Plan” means any “employee pension benefit plan” (as such term is defined in Section 3(2) of
ERISA), other than a Multiemployer Plan, that is subject to Title IV of ERISA and is sponsored or maintained by either Borrower or any ERISA Affiliate thereof or to which either Borrower or any ERISA Affiliate thereof contributes or has an
obligation to contribute, or in the case of a multiple employer or other plan described in Section 4064(a) of ERISA, has made contributions at any time during the immediately preceding five plan years. 
 “Person” means any natural person, corporation, limited liability company, trust, joint venture, association, company,
partnership, Governmental Authority or other entity. 
 “Plan” means any “employee benefit plan”
(as such term is defined in Section 3(3) of ERISA) established by either Borrower or, with respect to any such plan that is subject to Section 412 of the Code or Title IV of ERISA, any ERISA Affiliate. 
 “Platform” has the meaning specified in Section 6.02. 
 “Public Lender” has the meaning specified in Section 6.02. 
 “Qualified Institutional Buyer” means any domestic or foreign bank, insurance company (other than any of AFG’s
Affiliates or Subsidiaries that are insurance companies) savings and loan association, or registered investment company which in the aggregate owns and invests on a discretionary basis at least $100,000,000 in securities and which has a net worth of
at least $100,000,000; provided, however, so long as no Event of Default has occurred and is continuing, AFG shall approve any assignment to a Qualified Institutional Buyer to the extent required under Section 10.06(b).

 “Register” has the meaning specified in Section 10.06(c). 
 “Registered Public Accounting Firm” has the meaning specified in the Securities Laws and shall be independent of AFG as
provided by the Securities Laws. 
 “Related Parties” means, with respect to any Person, such Person’s
Affiliates and the partners, directors, officers, employees, agents and advisors of such Person and of such Person’s Affiliates. 
 “Reportable Event” means any of the events set forth in Section 4043(c) of ERISA, other than events for which the 30 day notice period has been waived. 
 “Request for Credit Extension” means (a) with respect to a Revolving Borrowing, conversion or continuation of
Revolving Loans, a Revolving Loan Notice, and (b) with respect to an L/C Extension, a Letter of Credit Application. 
 “Required Lenders” means, as of any date of determination, Lenders having at least 51% of the Aggregate Commitments or, if the commitment of each Lender to make Loans and the 

  

 18 

 
obligation of the L/C Issuer to make L/C Credit Extensions have been terminated pursuant to Section 8.02, Lenders holding in the aggregate at
least 51% of the Total Outstandings(with the aggregate amount of each Lender’s risk participation and funded participation in L/C Obligations being deemed “held” by such Lender for purposes of this definition); provided that
the Commitment of, and the portion of the Total Outstandings held or deemed held by, any Defaulting Lender shall be excluded for purposes of making a determination of Required Lenders. 
 “Responsible Officer” means a chief executive officer, president, executive 
 vice president, senior vice president, chief financial officer, general counsel, treasurer or assistant treasurer of a Loan Party. Any
document delivered hereunder that is signed by a Responsible Officer of a Loan Party shall be conclusively presumed to have been authorized by all necessary corporate, partnership and/or other action on the part of such Loan Party and such
Responsible Officer shall be conclusively presumed to have acted on behalf of such Loan Party. 
 “Restricted
Payment” means (a) the declaration or payment of any dividend on any Equity Interest of AFG or any Subsidiary, other than dividends payable solely in shares of common stock, (b) the purchase or other retirement of any class of
Equity Interest of AFG or any Subsidiary, (c) any other distribution on or in respect of any class of Equity Interest of AFG or any Subsidiary, and (d) any payment of principal or interest or premium on, or any purchase or other retirement
of, any Indebtedness required to be subordinated to the Obligations under this Agreement and the other Loan Documents, including (i) the Subordinated Debentures, and (ii) intercompany debt obligations of either Borrower owing to any of its
Subsidiaries or Affiliates. 
 “Revolving Borrowing” means a borrowing consisting of simultaneous Revolving
Loans of the same Type and, in the case of Eurodollar Rate Loans, having the same Interest Period made by each of the Lenders pursuant to Section 2.01. 
 “Revolving Loan” has the meaning specified in Section 2.01. 
 “Revolving Loan Notice” means a notice of (a) a Revolving Borrowing, (b) a conversion of Revolving Loans from one Type to the other, or (c) a continuation of Eurodollar Rate Loans,
pursuant to Section 2.02(a), which, if in writing, shall be substantially in the form of Exhibit A. 
 “RICA” means Republic Indemnity Company of America, a California insurance company. 
 “S&P” means Standard & Poor’s Ratings Services, a division of The McGraw-Hill Companies, Inc. and any successor thereto. 
 “Sarbanes-Oxley” means the Sarbanes-Oxley Act of 2002. 
 “SEC” means the Securities and Exchange Commission, or any Governmental Authority succeeding to any of its principal functions. 
  

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 “Securities Laws” means the Securities Act of 1933, the Securities
Exchange Act of 1934, Sarbanes-Oxley and the applicable accounting and auditing principles, rules, standards and practices promulgated, approved or incorporated by the SEC or the PCAOB. 
 “Significant Subsidiary” means any Subsidiary of AFG which has five percent (5%) or more of the total assets of AFG
and its Subsidiaries (determined as of the last day of the most recent fiscal quarter), and shall in any event include (a) GAIC, (b) GALIC, (c) RICA, (d) GAFRI, (e) Great American Holding, Inc., (f) APU Holding,
(g) AAG and (h) the successors and assigns of any of the foregoing permitted under this Agreement. 
 “Statutory Accounting Methods” means the statutory reporting practices prescribed by the applicable Insurance Authorities with respect to the Insurance Subsidiaries. 
 “Subordinated Debentures” means any subordinated debentures (which debentures shall be subordinated to the Obligations
on terms satisfactory to the Administrative Agent) issued by AFG or any of its Subsidiaries on or prior to the Closing Date (or, in the case only of AFG or GAFRI, after the Closing Date as contemplated by Section 7.13(c)(ii)) to AAG
Trust, American Financial Capital Trust I or any other trust or similar entity controlled by AFG or any of its Subsidiaries. 
 “Subordination Agreement” means the Subordination Agreement substantially in the form of Exhibit E pursuant to which each of the Borrowers’ Subsidiaries and Affiliates to which either Borrower has any Indebtedness
shall unconditionally subordinate any Indebtedness owed to it by such Borrower to the prior payment in full of the Obligations. 
 “Subsidiary” means any person of which AFG (or other specified Person) shall at the time, directly or indirectly through one or more of its Subsidiaries, (i) own more than 50% of the outstanding Equity Interests
entitled to vote generally, (ii) hold more than 50% of the Equity Interests or (iii) be a general partner or joint venture. Unless otherwise specified, all references to a “Subsidiary” or to “Subsidiaries” shall refer
to a Subsidiary or Subsidiaries of AFG. 
 “Swap Contract” means (a) any and all rate swap
transactions, basis swaps, credit derivative transactions, forward rate transactions, commodity swaps, commodity options, forward commodity contracts, equity or equity index swaps or options, bond or bond price or bond index swaps or options or
forward bond or forward bond price or forward bond index transactions, interest rate options, forward foreign exchange transactions, cap transactions, floor transactions, collar transactions, currency swap transactions, cross-currency rate swap
transactions, currency options, spot contracts, or any other similar transactions or any combination of any of the foregoing (including any options to enter into any of the foregoing), whether or not any such transaction is governed by or subject to
any master agreement, and (b) any and all transactions of any kind, and the related confirmations, which are subject to the terms and conditions of, or governed by, any form of master agreement published by the International Swaps and
Derivatives Association, Inc., any International Foreign Exchange Master Agreement, or any other master agreement (any such master agreement, together with any related schedules, a “Master Agreement”), including any such obligations
or liabilities under any Master Agreement. 
  

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 “Swap Termination Value” means, in respect of any one or more Swap
Contracts, after taking into account the effect of any legally enforceable netting agreement relating to such Swap Contracts, (a) for any date on or after the date such Swap Contracts have been closed out and termination value(s) determined in
accordance therewith, such termination value(s), and (b) for any date prior to the date referenced in clause (a), the amount(s) determined as the mark-to-market value(s) for such Swap Contracts, as determined based upon one or more mid-market
or other readily available quotations provided by any recognized dealer in such Swap Contracts (which may include a Lender or any Affiliate of a Lender). 
 “Synthetic Lease Obligation” means the monetary obligation of a Person under (a) a so-called synthetic, off-balance sheet or tax retention lease, or (b) an agreement for the use or
possession of property creating obligations that do not appear on the balance sheet of such Person but which, upon the insolvency or bankruptcy of such Person, would be characterized as the indebtedness of such Person (without regard to accounting
treatment). 
 “Taxes” means all present or future taxes, levies, imposts, duties, deductions, withholdings,
assessments, fees or other charges imposed by any Governmental Authority, including any interest, additions to tax or penalties applicable thereto. 
 “Total Outstandings” means the aggregate Outstanding Amount of all Loans and L/C Obligations. 
 “Type” means, with respect to a Revolving Loan, its character as a Base Rate Loan or a Eurodollar Rate Loan. 
 “Unfunded Pension Liability” means the excess of a Pension Plan’s benefit liabilities under Section 4001(a)(16) of ERISA, over the current value of that Pension
Plan’s assets, determined in accordance with the assumptions used for funding the Pension Plan pursuant to Section 412 of the Code for the applicable plan year. 
 “United States” and “U.S.” mean the United States of America. 
 “Unreimbursed Amount” has the meaning specified in Section 2.03(c)(i). 
 1.02    Other Interpretive Provisions.  With reference to this Agreement and each other Loan Document, unless otherwise specified herein or in such other Loan Document: 
 (a)    The definitions of terms herein shall apply equally to the singular and plural forms of the
terms defined. Whenever the context may require, any pronoun shall include the corresponding masculine, feminine and neuter forms. The words “include,” “includes” and “including” shall be deemed to
be followed by the phrase “without limitation.” The word “will” shall be construed to have the same meaning and effect as the word “shall.” Unless the context requires otherwise, (i) any definition of
or reference to any agreement, instrument or other document (including any Organization Document) shall be construed as referring to such agreement, instrument or other document as from time to time amended, supplemented or otherwise modified
(subject to any restrictions on such amendments, supplements or modifications set forth herein or in any other Loan Document), (ii) any reference herein to any Person shall be construed to include such 

  

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Person’s successors and assigns, (iii) the words “herein,” “hereof” and “hereunder,” and words
of similar import when used in any Loan Document, shall be construed to refer to such Loan Document in its entirety and not to any particular provision thereof, (iv) all references in a Loan Document to Articles, Sections, Exhibits and
Schedules shall be construed to refer to Articles and Sections of, and Exhibits and Schedules to, the Loan Document in which such references appear, (v) any reference to any law shall include all statutory and regulatory provisions
consolidating, amending, replacing or interpreting such law and any reference to any law or regulation shall, unless otherwise specified, refer to such law or regulation as amended, modified or supplemented from time to time, and (vi) the words
“asset” and “property” shall be construed to have the same meaning and effect and to refer to any and all tangible and intangible assets and properties, including cash, securities, accounts and contract rights.

 (b)    In the computation of periods of time from a specified date to a later
specified date, the word “from” means “from and including;” the words “to” and “until” each mean “to but excluding;” and the word “through” means
“to and including.” 
 (c)    Section headings herein and in the other
Loan Documents are included for convenience of reference only and shall not affect the interpretation of this Agreement or any other Loan Document. 
 (d)    For purposes of Section 8.01(b), a breach of a financial covenant contained in Section 7.10 shall be deemed to have occurred as of any date of
determination thereof by the Administrative Agent or as of the last day of any specified measuring period, regardless of when the financial statements reflecting such breach are delivered to the Administrative Agent and the Lenders. 
 1.03    Accounting Terms.  (a)    Generally.  All accounting
terms not specifically or completely defined herein shall be construed in conformity with, and all financial data (including financial ratios and other financial calculations) required to be submitted pursuant to this Agreement shall be prepared in
conformity with, GAAP or Statutory Accounting Methods, as the case may be, applied on a consistent basis, as in effect from time to time, applied in a manner consistent with that used in preparing the Audited Financial Statements, except as
otherwise specifically prescribed herein. 
 (b)    Changes in GAAP or Statutory Accounting
Methods. If at any time any change in GAAP or Statutory Accounting Methods, as the case may be, would affect the computation of any financial ratio or requirement set forth in any Loan Document, and either AFG or the Required Lenders shall so
request, the Administrative Agent, the Lenders and AFG shall negotiate in good faith to amend such ratio or requirement to preserve the original intent thereof in light of such change in GAAP or Statutory Accounting Methods, as the case may be,
(subject to the approval of the Required Lenders); provided that, until so amended, (i) such ratio or requirement shall continue to be computed in accordance with GAAP or Statutory Accounting Methods, as the case may be, prior to
such change therein and (ii) AFG shall provide to the Administrative Agent and the Lenders financial statements and other documents required under this Agreement or as reasonably requested hereunder setting forth a reconciliation between
calculations of such ratio or requirement made before and after giving effect to such change in GAAP or Statutory Accounting Methods, as the case may be. 
  

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 1.04    Rounding.  Any financial ratios required to
be maintained by AFG pursuant to this Agreement shall be calculated by dividing the appropriate component by the other component, carrying the result to one place more than the number of places by which such ratio is expressed herein and rounding
the result up or down to the nearest number (with a rounding-up if there is no nearest number). 
 1.05    Times of Day.  Unless otherwise specified, all references herein to times of day shall be references to Eastern time (daylight or standard, as applicable). 
 1.06    Letter of Credit Amounts.  Unless otherwise specified herein, the amount of a Letter of
Credit at any time shall be deemed to be the stated amount of such Letter of Credit in effect at such time; provided, however, that with respect to any Letter of Credit that, by its terms or the terms of any Issuer Document related thereto, provides
for one or more automatic increases in the stated amount thereof, the amount of such Letter of Credit shall be deemed to be the maximum stated amount of such Letter of Credit after giving effect to all such increases, whether or not such maximum
stated amount is in effect at such time. 
 ARTICLE II 
 THE COMMITMENTS AND CREDIT EXTENSIONS 
 2.01    Revolving
Loans.  Subject to the terms and conditions set forth herein, each Lender severally agrees to make loans (each such loan, a “Revolving Loan”) to each of the Borrowers from time to time, on any Business Day during the
Availability Period, in an aggregate amount not to exceed at any time outstanding the amount of such Lender’s Commitment; provided, however, that after giving effect to any Revolving Borrowing, (i) the Total Outstandings
shall not exceed the Aggregate Commitments, (ii) the aggregate Outstanding Amount of the Revolving Loans of any Lender, plus such Lender’s Applicable Percentage of the Outstanding Amount of all L/C Obligations shall not exceed such
Lender’s Commitment, and (iii) the aggregate Outstanding Amount of all Revolving Loans made to AAG and L/C Obligations for which GAFRI or one of its Subsidiaries is the Letter of Credit Obligor shall not exceed $200,000,000. Within the
limits of each Lender’s Commitment, and subject to the other terms and conditions hereof, the Borrowers may borrow under this Section 2.01, prepay under Section 2.04, and reborrow under this Section 2.01.
Revolving Loans may be Base Rate Loans or Eurodollar Rate Loans, as further provided herein. 
 2.02    Revolving Borrowings, Conversions and Continuations of Revolving Loans. 
 (a)    Each Revolving Borrowing, each conversion of Revolving Loans from one Type to the other, and each continuation of Eurodollar Rate Loans shall be made upon the applicable Borrower’s irrevocable notice to the
Administrative Agent, which may be given by telephone. Each such notice must be received by the Administrative Agent not later than 11:00 a.m. (i) three Business Days prior to the requested date of any Revolving Borrowing of, conversion to or
continuation of Eurodollar Rate Loans or of any conversion of Eurodollar Rate Loans to Base Rate Loans, and (ii) on the requested date of any Revolving Borrowing of Base Rate Loans. 
  

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 Each telephonic notice by the applicable Borrower pursuant to this Section 2.02(a) must be
confirmed promptly by delivery to the Administrative Agent of a written Revolving Loan Notice, appropriately completed and signed by a Responsible Officer of the applicable Borrower; provided, however, any Revolving Loan Notices delivered by AAG
shall be signed by two Responsible Officers of AAG, at least one of whom shall be the chief executive officer, the chief operating officer or the general counsel of AAG. Each Revolving Borrowing of, conversion to or continuation of Eurodollar Rate
Loans shall be in a principal amount of $5,000,000 or a whole multiple of $1,000,000 in excess thereof. Each Revolving Borrowing of or conversion to Base Rate Loans shall be in a principal amount of $500,000 or a whole multiple of $100,000 in excess
thereof. Each Revolving Loan Notice (whether telephonic or written) shall specify (i) whether such Borrower is requesting a Revolving Borrowing, a conversion of Revolving Loans from one Type to the other, or a continuation of Eurodollar Rate
Loans, (ii) the requested date of the Revolving Borrowing, conversion or continuation, as the case may be (which shall be a Business Day), (iii) the principal amount of Revolving Loans to be borrowed, converted or continued, (iv) the
Type of Revolving Loans to be borrowed or to which existing Revolving Loans are to be converted, and (v) if applicable, the duration of the Interest Period with respect thereto. If a Borrower fails to specify a Type of Revolving Loan in a
Revolving Loan Notice or if a Borrower fails to give a timely notice requesting a conversion or continuation, then the applicable Revolving Loans shall be made as, or converted to, Base Rate Loans. Any such automatic conversion to Base Rate Loans
shall be effective as of the last day of the Interest Period then in effect with respect to the applicable Eurodollar Rate Loans. If a Borrower requests a Revolving Borrowing of, conversion to, or continuation of Eurodollar Rate Loans in any such
Revolving Loan Notice, but fails to specify an Interest Period, it will be deemed to have specified an Interest Period of one month. 
 (b)    Following receipt of a Revolving Loan Notice, the Administrative Agent shall promptly notify each Lender of the amount of its Applicable Percentage of the Revolving Loans, and if no timely
notice of a conversion or continuation is provided by the applicable Borrower, the Administrative Agent shall notify each Lender of the details of any automatic conversion to Base Rate Loans described in the preceding subsection. In the case of a
Revolving Borrowing, each Lender shall make the amount of its Revolving Loan available to the Administrative Agent in immediately available funds at the Administrative Agent’s Office not later than 1:00 p.m. on the Business Day specified in the
Revolving Loan Notice. Upon satisfaction of the applicable conditions set forth in Section 4.02 (and, if such Revolving Borrowing is the initial Credit Extension, Section 4.01), the Administrative Agent shall make all funds
so received available to the applicable Borrower in like funds as received by the Administrative Agent either by (i) crediting the account of the applicable Borrower on the books of Bank of America with the amount of such funds or
(ii) wire transfer of such funds, in each case in accordance with instructions provided to (and reasonably acceptable to) the Administrative Agent by the applicable Borrower; provided, however, that if, on the date the Revolving
Loan Notice with respect to such Revolving Borrowing is given by a Borrower there are L/C Borrowings outstanding, then the proceeds of such Revolving Borrowing, first, shall be applied to the payment in full of any such L/C Borrowings, and
second, shall be made available to the applicable Borrower as provided above. 
 (c)    Except as
otherwise provided herein, a Eurodollar Rate Loan may be continued or converted only on the last day of an Interest Period for such Eurodollar Rate Loan. During the existence of a Default, no Loans may be requested as, converted to or continued as
Eurodollar Rate Loans without the consent of the Required Lenders. 
  

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 (d)    The Administrative Agent shall promptly notify the applicable
Borrower and the Lenders of the interest rate applicable to any Interest Period for Eurodollar Rate Loans upon determination of such interest rate. At any time that Base Rate Loans are outstanding, the Administrative Agent shall notify the
applicable Borrower and the Lenders of any change in Bank of America’s prime rate used in determining the Base Rate promptly following the public announcement of such change. 
 (e)    After giving effect to all Revolving Borrowings, all conversions of Revolving Loans from one Type to the
other, and all continuations of Revolving Loans as the same Type, there shall not be more than ten Interest Periods in effect with respect to Revolving Loans. 
 2.03    Letters of Credit. 
 (a)    The Letter of Credit Commitment. 
 (i)    Subject to the terms and conditions set forth herein, (A) the L/C Issuer agrees, in reliance upon the agreements of the Lenders set forth in this Section 2.03, (1) from time to time on any
Business Day during the period from the Closing Date until the Letter of Credit Expiration Date, to issue Letters of Credit for the account of the Letter of Credit Obligors, and to amend or extend Letters of Credit previously issued by it, in
accordance with subsection (b) below, and (2) to honor drawings under the Letters of Credit; and (B) the Lenders severally agree to participate in Letters of Credit issued for the account of the Letter of Credit Obligors and any
drawings thereunder; provided that after giving effect to any L/C Credit Extension with respect to any Letter of Credit, (x) the Total Outstandings shall not exceed the Aggregate Commitments, (y) the aggregate Outstanding Amount of
the Revolving Loans of any Lender, plus such Lender’s Applicable Percentage of the Outstanding Amount of all L/C Obligations, shall not exceed such Lender’s Commitment, and (z) the Outstanding Amount of the L/C Obligations
shall not exceed the Letter of Credit Sublimit. Each request by a Letter of Credit Obligor for the issuance or amendment of a Letter of Credit shall be deemed to be a representation by such Letter of Credit Obligor that the L/C Credit Extension so
requested complies with the conditions set forth in the proviso to the preceding sentence. Within the foregoing limits, and subject to the terms and conditions hereof, each Letter of Credit Obligor’s ability to obtain Letters of Credit shall be
fully revolving, and accordingly the Letter of Credit Obligors may, during the foregoing period, obtain Letters of Credit to replace Letters of Credit that have expired or that have been drawn upon and reimbursed. All Existing Letters of Credit
shall be deemed to have been issued pursuant hereto, and from and after the Closing Date shall be subject to and governed by the terms and conditions hereof. 
 (ii)    The L/C Issuer shall not issue any Letters of Credit if: 
  

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 (A)    subject to Section 2.03(b)(iii),
the expiry date of such requested Letter of Credit would occur more than twelve months after the date of issuance or last extension, unless the Required Lenders have approved such expiry date; 
 (B)    the expiry date of such requested Letter of Credit would occur after the Letter of Credit
Expiration Date, unless all the Lenders have approved such expiry date; or 
 (C)    such
Letter of Credit is to be denominated in a currency other than Dollars. 
 (iii)    The
L/C Issuer shall not be under any obligation to issue any Letter of Credit if: 
 (A)    any order, judgment or decree of any Governmental Authority or arbitrator shall by its terms purport to enjoin or restrain the L/C Issuer from issuing such Letter of Credit, or any Law applicable to the L/C Issuer
or any request or directive (whether or not having the force of law) from any Governmental Authority with jurisdiction over the L/C Issuer shall prohibit, or request that the L/C Issuer refrain from, the issuance of letters of credit generally or
such Letter of Credit in particular or shall impose upon the L/C Issuer with respect to such Letter of Credit any restriction, reserve or capital requirement (for which the L/C Issuer is not otherwise compensated hereunder) not in effect on the
Closing Date, or shall impose upon the L/C Issuer any unreimbursed loss, cost or expense which was not applicable on the Closing Date and which the L/C Issuer in good faith deems material to it; 
 (B)    the issuance of such Letter of Credit would violate one or more policies of the L/C Issuer
applicable to letters of credit generally; 
 (C)    except as otherwise agreed by the
Administrative Agent and the L/C Issuer, such Letter of Credit is in an initial stated amount less than $500,000; 
 (D)    such Letter of Credit contains any provisions for automatic reinstatement of the stated amount after any drawing thereunder; or 
 (E)    a default of any Lender’s obligations to fund under Section 2.03(c) exists or
any Lender is at such time a Defaulting Lender hereunder, unless the L/C Issuer has entered into satisfactory arrangements with AFG or, as the case may be, an applicable Letter of Credit Obligor or such Lender to eliminate the L/C Issuer’s risk
with respect to such Lender. 
 (iv)    The L/C Issuer shall not amend any Letter of
Credit if the L/C Issuer would not be permitted at such time to issue such Letter of Credit in its amended form under the terms hereof. 
 (v)    The L/C Issuer shall be under no obligation to amend any Letter of Credit if (A) the L/C Issuer would have no obligation at such time to issue such Letter of Credit in its amended form
under the terms hereof, or (B) the beneficiary of such Letter of Credit does not accept the proposed amendment to such Letter of Credit. 
  

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 (vi)    The L/C Issuer shall act on behalf of the
Lenders with respect to any Letters of Credit issued by it and the documents associated therewith, and the L/C Issuer shall have all of the benefits and immunities (A) provided to the Administrative Agent in Article IX with respect to
any acts taken or omissions suffered by the L/C Issuer in connection with Letters of Credit issued by it or proposed to be issued by it and Issuer Documents pertaining to such Letters of Credit as fully as if the term “Administrative
Agent” as used in Article IX included the L/C Issuer with respect to such acts or omissions, and (B) as additionally provided herein with respect to the L/C Issuer. 
 (b)    Procedures for Issuance and Amendment of Letters of Credit; Auto-Extension Letters of Credit.

 (i)    Each Letter of Credit shall be issued or amended, as the case may be, upon the
request of a Letter of Credit Obligor delivered to the L/C Issuer (with a copy to the Administrative Agent) in the form of a Letter of Credit Application, appropriately completed and signed by a Responsible Officer of such Letter of Credit Obligor.
Such Letter of Credit Application must be received by the L/C Issuer and the Administrative Agent not later than 11:00 a.m. at least two Business Days (or such later date and time as the Administrative Agent and the L/C Issuer may agree in a
particular instance in their sole discretion) prior to the proposed issuance date or date of amendment, as the case may be. In the case of a request for an initial issuance of a Letter of Credit, such Letter of Credit Application shall specify in
form and detail satisfactory to the L/C Issuer: (A) the proposed issuance date of the requested Letter of Credit (which shall be a Business Day); (B) the amount thereof; (C) the expiry date thereof; (D) the name and address of
the beneficiary thereof; (E) the documents to be presented by such beneficiary in case of any drawing thereunder; (F) the full text of any certificate to be presented by such beneficiary in case of any drawing thereunder; and (G) such
other matters as the L/C Issuer may require. In the case of a request for an amendment of any outstanding Letter of Credit, such Letter of Credit Application shall specify in form and detail satisfactory to the L/C Issuer (A) the Letter of
Credit to be amended; (B) the proposed date of amendment thereof (which shall be a Business Day); (C) the nature of the proposed amendment; and (D) such other matters as the L/C Issuer may require. Additionally, the Letter of Credit
Obligor shall furnish to the L/C Issuer and the Administrative Agent such other documents and information pertaining to such requested Letter of Credit issuance or amendment, including any Issuer Documents, as the L/C Issuer or the Administrative
Agent may require. 
 (ii)    Promptly after receipt of any Letter of Credit Application,
the L/C Issuer will confirm with the Administrative Agent (by telephone or in writing) that the Administrative Agent has received a copy of such Letter of Credit Application from a Letter of Credit Obligor and, if not, the L/C Issuer will provide
the Administrative Agent with a copy thereof. Unless the L/C Issuer has received written notice from any Lender, the Administrative Agent or any Loan Party, at least one Business Day prior to the requested date of issuance or amendment of the
applicable Letter of Credit, that one or 

  

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more applicable conditions contained in Article IV shall not then be satisfied, then, subject to the terms and conditions hereof, the L/C Issuer
shall, on the requested date, issue a Letter of Credit for the account of the applicable Letter of Credit Obligor or enter into the applicable amendment, as the case may be, in each case in accordance with the L/C Issuer’s usual and customary
business practices. Immediately upon the issuance of each Letter of Credit, each Lender shall be deemed to, and hereby irrevocably and unconditionally agrees to, purchase from the L/C Issuer a risk participation in such Letter of Credit in an amount
equal to the product of such Lender’s Applicable Percentage times the amount of such Letter of Credit 
 (iii)    If a Letter of Credit Obligor so requests in any applicable Letter of Credit Application, the L/C Issuer may, in its sole and absolute discretion, agree to issue a Letter of Credit that has automatic extension
provisions (each, an “Auto-Extension Letter of Credit”); provided that any such Auto-Extension Letter of Credit must permit the L/C Issuer to prevent any such extension at least once in each twelve-month period (commencing
with the date of issuance of such Letter of Credit) by giving prior notice to the beneficiary thereof not later than a day (the “Non-Extension Notice Date”) in each such twelve-month period to be agreed upon at the time such Letter
of Credit is issued. Unless otherwise directed by the L/C Issuer, a Letter of Credit Obligor shall not be required to make a specific request to the L/C Issuer for any such extension. Once an Auto-Extension Letter of Credit has been issued, the
Lenders shall be deemed to have authorized (but may not require) the L/C Issuer to permit the extension of such Letter of Credit at any time to an expiry date not later than the Letter of Credit Expiration Date; provided, however, that
the L/C Issuer shall not permit any such extension if (A) the L/C Issuer has determined that it would not be permitted, or would have no obligation, at such time to issue such Letter of Credit in its revised form (as extended) under the terms
hereof (by reason of the provisions of clause (ii) or (iii) of Section 2.03(a) or otherwise), or (B) it has received notice (which may be by telephone or in writing) on or before the day that is five Business Days before
the Non-Extension Notice Date (1) from the Administrative Agent that the Required Lenders have elected not to permit such extension or (2) from the Administrative Agent, any Lender or a Letter of Credit Obligor that one or more of the
applicable conditions specified in Section 4.02 is not then satisfied, and in each such case directing the L/C Issuer not to permit such extension. 
 (iv)    Promptly after its delivery of any Letter of Credit or any amendment to a Letter of Credit to an advising bank with respect thereto or to the beneficiary thereof, the
L/C Issuer will also deliver to the applicable Letter of Credit Obligor and the Administrative Agent a true and complete copy of such Letter of Credit or amendment. 
 (c)    Drawings and Reimbursements; Funding of Participations. 
 (i)    Upon receipt from the beneficiary of any Letter of Credit of any notice of a drawing under such Letter of Credit, the L/C Issuer shall notify the Letter of Credit
Obligor who requested the issuance of such Letter of Credit and the Administrative Agent thereof. Not later than 11:00 a.m. on the date of any payment by the L/C Issuer under a Letter of Credit (each such date, an “Honor Date”),
such Letter of Credit Obligor shall reimburse the L/C Issuer through the Administrative Agent in an amount equal to 

  

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the amount of such drawing. If such Letter of Credit Obligor fails to so reimburse the L/C Issuer by such time, the Administrative Agent shall promptly
notify each Lender of the Honor Date, the amount of the unreimbursed drawing (the “Unreimbursed Amount”), and the amount of such Lender’s Applicable Percentage thereof. In such event, AFG shall be deemed to have requested a
Revolving Borrowing of Base Rate Loans to be disbursed on the Honor Date in an amount equal to the Unreimbursed Amount, without regard to the minimum and multiples specified in Section 2.02 for the principal amount of Base Rate Loans,
but subject to the amount of the unutilized portion of the Aggregate Commitments and the conditions set forth in Section 4.02 (other than the delivery of a Revolving Loan Notice). Any notice given by the L/C Issuer or the Administrative
Agent pursuant to this Section 2.03(c)(i) may be given by telephone if immediately confirmed in writing; provided that the lack of such an immediate confirmation shall not affect the conclusiveness or binding effect of such
notice. 
 (ii)    Each Lender shall upon any notice pursuant to
Section 2.03(c)(i) make funds available to the Administrative Agent for the account of the L/C Issuer at the Administrative Agent’s Office in an amount equal to its Applicable Percentage of the Unreimbursed Amount not later than
1:00 p.m. on the Business Day specified in such notice by the Administrative Agent, whereupon, subject to the provisions of Section 2.03(c)(iii), each Lender that so makes funds available shall be deemed to have made a Base Rate Loan to
AFG in such amount. The Administrative Agent shall remit the funds so received to the L/C Issuer. 
 (iii)    With respect to any Unreimbursed Amount that is not fully refinanced by a Revolving Borrowing of Base Rate Loans because the conditions set forth in Section 4.02 cannot be satisfied or for any other
reason, the Letter of Credit Obligor for whose account that such Letter of Credit was issued shall be deemed to have incurred from the L/C Issuer an L/C Borrowing in the amount of the Unreimbursed Amount that is not so refinanced, which L/C
Borrowing shall be due and payable on demand (together with interest) and shall bear interest at the Default Rate. In such event, each Lender’s payment to the Administrative Agent for the account of the L/C Issuer pursuant to
Section 2.03(c)(ii) shall be deemed payment in respect of its participation in such L/C Borrowing and shall constitute an L/C Advance from such Lender in satisfaction of its participation obligation under this Section 2.03.

 (iv)    Until each Lender funds its Revolving Loan or L/C Advance pursuant to this
Section 2.03(c) to reimburse the L/C Issuer for any amount drawn under any Letter of Credit, interest in respect of such Lender’s Applicable Percentage of such amount shall be solely for the account of the L/C Issuer. 
 (v)    Each Lender’s obligation to make Revolving Loans or L/C Advances to reimburse the L/C
Issuer for amounts drawn under Letters of Credit, as contemplated by this Section 2.03(c), shall be absolute and unconditional and shall not be affected by any circumstance, including (A) any setoff, counterclaim, recoupment,
defense or other right which such Lender may have against the L/C Issuer, any Letter of Credit Obligor or any other Person for any reason whatsoever; (B) the occurrence or continuance of a Default, or (C) any other occurrence, event or
condition, whether or not similar to any of the 

  

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foregoing; provided, however, that each Lender’s obligation to make Revolving Loans pursuant to this Section 2.03(c) is
subject to the conditions set forth in Section 4.02 (other than delivery by a Borrower of a Revolving Loan Notice). No such making of an L/C Advance shall relieve or otherwise impair the obligation of any Letter of Credit Obligor to
reimburse the L/C Issuer for the amount of any payment made by the L/C Issuer under any Letter of Credit, together with interest as provided herein. 
 (vi)    If any Lender fails to make available to the Administrative Agent for the account of the L/C Issuer any amount required to be paid by such Lender pursuant to the
foregoing provisions of this Section 2.03(c) by the time specified in Section 2.03(c)(ii), the L/C Issuer shall be entitled to recover from such Lender (acting through the Administrative Agent), on demand, such amount with
interest thereon for the period from the date such payment is required to the date on which such payment is immediately available to the L/C Issuer at a rate per annum equal to the greater of the Federal Funds Rate and a rate determined by the L/C
Issuer in accordance with banking industry rules on interbank compensation, plus any administrative, processing or similar fees customarily charged by the L/C Issuer in connection with the foregoing. If such Lender pays such amount (with interest
and fees as aforesaid), the amount so paid shall constitute such Lender’s Revolving Loan included in the relevant Revolving Borrowing or L/C Advance in respect of the relevant L/C Borrowing, as the case may be. A certificate of the L/C Issuer
submitted to any Lender (through the Administrative Agent) with respect to any amounts owing under this clause (vi) shall be conclusive absent manifest error. 
 (d)    Repayment of Participations. 
 (i)    At any time after the L/C Issuer has made a payment under any Letter of Credit and has received from any Lender such Lender’s L/C Advance in respect of such payment in accordance with
Section 2.03(c), if the Administrative Agent receives for the account of the L/C Issuer any payment in respect of the related Unreimbursed Amount or interest thereon (whether directly from a Letter of Credit Obligor or otherwise,
including proceeds of Cash Collateral applied thereto by the Administrative Agent), the Administrative Agent will distribute to such Lender its Applicable Percentage thereof in the same funds as those received by the Administrative Agent.

 (ii)    If any payment received by the Administrative Agent for the account of the L/C
Issuer pursuant to Section 2.03(c)(i) is required to be returned under any of the circumstances described in Section 10.05 (including pursuant to any settlement entered into by the L/C Issuer in its discretion), each Lender
shall pay to the Administrative Agent for the account of the L/C Issuer its Applicable Percentage thereof on demand of the Administrative Agent, plus interest thereon from the date of such demand to the date such amount is returned by such Lender,
at a rate per annum equal to the Federal Funds Rate from time to time in effect. The obligations of the Lenders under this clause shall survive the payment in full of the Obligations and the termination of this Agreement. 
 (e)    Obligations Absolute.  The obligation of each Letter of Credit Obligor to reimburse the L/C
Issuer for each drawing under each Letter of Credit and to repay each L/C Borrowing shall be absolute, unconditional and irrevocable, and shall be paid strictly in accordance with the terms of this Agreement under all circumstances, including the
following: 
  

 30 

 (i)    any lack of validity or enforceability of such
Letter of Credit, this Agreement, or any other Loan Document; 
 (ii)    the existence of
any claim, counterclaim, setoff, defense or other right that any Letter of Credit Obligor may have at any time against any beneficiary or any transferee of such Letter of Credit (or any Person for whom any such beneficiary or any such transferee may
be acting), the L/C Issuer or any other Person, whether in connection with this Agreement, the transactions contemplated hereby or by such Letter of Credit or any agreement or instrument relating thereto, or any unrelated transaction; 
 (iii)    any draft, demand, certificate or other document presented under such Letter of Credit
proving to be forged, fraudulent, invalid or insufficient in any respect or any statement therein being untrue or inaccurate in any respect; or any loss or delay in the transmission or otherwise of any document required in order to make a drawing
under such Letter of Credit; 
 (iv)    any payment by the L/C Issuer under such Letter
of Credit against presentation of a draft or certificate that does not strictly comply with the terms of such Letter of Credit; or any payment made by the L/C Issuer under such Letter of Credit to any Person purporting to be a trustee in bankruptcy,
debtor-in-possession, assignee for the benefit of creditors, liquidator, receiver or other representative of or successor to any beneficiary or any transferee of such Letter of Credit, including any arising in connection with any proceeding under
any Debtor Relief Law; or 
 (v)    any other circumstance or happening whatsoever,
whether or not similar to any of the foregoing, including any other circumstance that might otherwise constitute a defense available to, or a discharge of, any Letter of Credit Obligor. 
 Each Letter of Credit Obligor shall promptly examine a copy of each Letter of Credit issued for its account and each amendment thereto
that is delivered to it and, in the event of any claim of noncompliance with such Letter of Credit Obligor’s instructions or other irregularity, such Letter of Credit Obligor will immediately notify the L/C Issuer. Each Letter of Credit Obligor
shall be conclusively deemed to have waived any such claim against the L/C Issuer and its correspondents unless such notice is given as aforesaid. 
 (f)    Role of L/C Issuer.  Each Lender and each Letter of Credit Obligor agree that, in paying any drawing under a Letter of Credit, the L/C Issuer shall not have any
responsibility to obtain any document (other than any sight draft, certificates and documents expressly required by the Letter of Credit) or to ascertain or inquire as to the validity or accuracy of any such document or the authority of the Person
executing or delivering any such document. None of the L/C Issuer, the Administrative Agent, any of their respective Related Parties nor any correspondent, participant or assignee of the L/C Issuer shall be liable to any Lender for (i) any
action taken or omitted in connection herewith at the request or with the approval of the Lenders or the Required Lenders, as applicable; (ii) any action taken or omitted in the absence of gross 

  

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negligence or willful misconduct; or (iii) the due execution, effectiveness, validity or enforceability of any document or instrument related to any
Letter of Credit or Issuer Document. Each Letter of Credit Obligor hereby assumes all risks of the acts or omissions of any beneficiary or transferee with respect to its use of any Letter of Credit; provided, however, that this
assumption is not intended to, and shall not, preclude any Letter of Credit Obligor pursuing such rights and remedies as it may have against the beneficiary or transferee at law or under any other agreement. None of the L/C Issuer, the
Administrative Agent, any of their respective Related Parties nor any correspondent, participant or assignee of the L/C Issuer shall be liable or responsible for any of the matters described in clauses (i) through (v) of
Section 2.03(e); provided, however, that anything in such clauses to the contrary notwithstanding, a Letter of Credit Obligor may have a claim against the L/C Issuer, and the L/C Issuer may be liable to such Letter of
Credit Obligor, to the extent, but only to the extent, of any direct, as opposed to consequential or exemplary, damages suffered by such Letter of Credit Obligor which such Letter of Credit Obligor proves were caused by the L/C Issuer’s willful
misconduct or gross negligence or the L/C Issuer’s willful failure to pay under any Letter of Credit after the presentation to it by the beneficiary of a sight draft and certificate(s) strictly complying with the terms and conditions of a
Letter of Credit. In furtherance and not in limitation of the foregoing, the L/C Issuer may accept documents that appear on their face to be in order, without responsibility for further investigation, regardless of any notice or information to the
contrary, and the L/C Issuer shall not be responsible for the validity or sufficiency of any instrument transferring or assigning or purporting to transfer or assign a Letter of Credit or the rights or benefits thereunder or proceeds thereof, in
whole or in part, which may prove to be invalid or ineffective for any reason. 
 (g)    Cash
Collateral.  Upon the request of the Administrative Agent, (i) if the L/C Issuer has honored any full or partial drawing request under any Letter of Credit and such drawing has resulted in an L/C Borrowing, or (ii) if, as of
the Letter of Credit Expiration Date, any L/C Obligation for any reason remains outstanding, AFG shall, in each case, immediately Cash Collateralize the then Outstanding Amount of all L/C Obligations. Sections 2.04 and 8.02(c) set
forth certain additional requirements to deliver Cash Collateral hereunder. For purposes of this Section 2.03, Section 2.04 and Section 8.02(c), “Cash Collateralize” means to pledge and deposit
with or deliver to the Administrative Agent, for the benefit of the L/C Issuer and the Lenders, as collateral for the L/C Obligations, cash or deposit account balances pursuant to documentation in form and substance satisfactory to the
Administrative Agent and the L/C Issuer (which documents are hereby consented to by the Lenders). Derivatives of such term have corresponding meanings. AFG hereby grants to the Administrative Agent, for the benefit of the L/C Issuer and the Lenders,
a security interest in all such cash, deposit accounts and all balances therein and all proceeds of the foregoing. Cash Collateral shall be maintained in blocked, non-interest bearing deposit accounts at Bank of America. 
 (h)    Applicability of ISP.  Unless otherwise expressly agreed by the L/C Issuer and a Letter of
Credit Obligor when a Letter of Credit is issued (including any such agreement applicable to an Existing Credit Agreement), the rules of the ISP shall apply to each standby Letter of Credit. 
 (i)    Letter of Credit Fees.  Each Letter of Credit Obligor shall pay to the Administrative Agent
for the account of each Lender in accordance with its Applicable 

  

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Percentage a Letter of Credit fee (the “Letter of Credit Fee”) for each Letter of Credit issued for such Letter of Credit Obligor’s
account equal to the Applicable Rate times the daily amount available to be drawn under such Letter of Credit. For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit
shall be determined in accordance with Section 1.06. Letter of Credit Fees shall be (i) due and payable on the first Business Day after the end of each March, June, September and December, commencing with the first such date to
occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand and (ii) computed on a quarterly basis in arrears. If there is any change in the Applicable Rate during any quarter, the daily
amount available to be drawn under each Letter of Credit shall be computed and multiplied by the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect. Notwithstanding anything to the contrary
contained herein, upon the request of the Required Lenders, while any Event of Default exists, all Letter of Credit Fees shall accrue at the Default Rate. 
 (j)    Fronting Fee and Documentary and Processing Charges Payable to L/C Issuer.  Each Letter of Credit Obligor shall pay directly to the L/C Issuer for its own account a fronting
fee with respect to each Letter of Credit issued for such Letter of Credit Obligor’s account, at the rate per annum specified in the Fee Letter, computed on the daily amount available to be drawn under such Letter of Credit on a quarterly basis
in arrears. Such fronting fee shall be due and payable on the tenth Business Day after the end of each March, June, September and December in respect of the most recently-ended quarterly period (or portion thereof, in the case of the first payment),
commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. For purposes of computing the daily amount available to be drawn under any Letter of Credit,
the amount of such Letter of Credit shall be determined in accordance with Section 1.06. In addition, AFG shall pay directly to the L/C Issuer for its own account the customary issuance, presentation, amendment and other processing fees,
and other standard costs and charges, of the L/C Issuer relating to letters of credit as from time to time in effect. Such customary fees and standard costs and charges are due and payable on demand and are nonrefundable. 
 (k)    Conflict with Issuer Documents.  In the event of any conflict between the terms hereof and
the terms of any Issuer Document, the terms hereof shall control. 
 (l)    Letters of Credit Issued
for Letter of Credit Obligors that are Subsidiaries.  Notwithstanding that a Letter of Credit issued or outstanding hereunder is in support of any obligations of, or is for the account of, a Letter of Credit Obligor that is a
Subsidiary, AFG shall be jointly and severally obligated to reimburse the L/C Issuer hereunder for any and all drawings under such Letter of Credit. AFG hereby acknowledges that the issuance of Letters of Credit for the account of Letter of Credit
Obligors that are Subsidiaries inures to the benefit of AFG, and that AFG’s business derives substantial benefits from the businesses of such Subsidiaries. 
 2.04    Prepayments. 
 (a)    Either Borrower may, upon notice to the Administrative Agent, at any time or from time to time voluntarily prepay Revolving Loans made to it in whole or in part without premium or penalty; provided that
(i) such notice must be received by the Administrative Agent 

  

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not later than 11:00 a.m. (A) three Business Days prior to any date of prepayment of Eurodollar Rate Loans and (B) on the date of prepayment of
Base Rate Loans; (ii) any prepayment of Eurodollar Rate Loans shall be in a principal amount of a whole multiple of $1,000,000; and (iii) any prepayment of Base Rate Loans shall be in a principal amount of $500,000 or a whole multiple of
$100,000 in excess thereof or, in each case, if less, the entire principal amount thereof then outstanding. Each such notice shall specify the date and amount of such prepayment and the Type(s) of Revolving Loans to be prepaid and, if Eurodollar
Rate Loans are to be prepaid, the Interest Period(s) of such Loans. The Administrative Agent will promptly notify each Lender of its receipt of each such notice, and of the amount of such Lender’s Applicable Percentage of such prepayment. If
such notice is given by a Borrower, such Borrower shall make such prepayment and the payment amount specified in such notice shall be due and payable on the date specified therein. Any prepayment of a Eurodollar Rate Loan shall be accompanied by all
accrued interest on the amount prepaid, together with any additional amounts required pursuant to Section 3.05. Each such prepayment shall be applied to the Revolving Loans of the Lenders in accordance with their respective Applicable
Percentages. 
 (b)    If for any reason the Total Outstandings at any time exceed the Aggregate
Commitments then in effect, the Borrowers shall immediately prepay Loans and/or Cash Collateralize the L/C Obligations in an aggregate amount equal to such excess; provided, however, that AFG shall not be required to Cash Collateralize
the L/C Obligations pursuant to this Section 2.04(b) unless after prepayment in the full amount of the Revolving Loans the Total Outstandings exceed the Aggregate Commitments then in effect. 
 2.05    Termination or Reduction of Commitments.  AFG may, upon notice to the Administrative Agent,
terminate the Aggregate Commitments, or from time to time permanently reduce the Aggregate Commitments; provided that (i) any such notice shall be received by the Administrative Agent not later than 11:00 a.m. five Business Days prior to
the date of termination or reduction, (ii) any such partial reduction shall be in an aggregate amount of $10,000,000 or any whole multiple of $1,000,000 in excess thereof, and (iii) AFG shall not terminate or reduce the Aggregate
Commitments if, after giving effect thereto and to any concurrent prepayments hereunder, the Total Outstandings would exceed the Aggregate Commitments. The Administrative Agent will promptly notify the Lenders of any such notice of termination or
reduction of the Aggregate Commitments. Any reduction of the Aggregate Commitments shall be applied to the Commitment of each Lender according to its Applicable Percentage. All fees accrued until the effective date of any termination of the
Aggregate Commitments shall be paid on the effective date of such termination. 
 2.06    Repayment.  Each Borrower shall repay to the Lenders on the Maturity Date the aggregate principal amount of Revolving Loans made to it and AFG shall repay to the Lenders on the Maturity Date all
other Obligations outstanding on such date. 
 2.07    Interest. 
 (a)    Subject to the provisions of subsection (b) below, (i) each Eurodollar Rate Loan shall bear interest
on the outstanding principal amount thereof for each Interest Period at a rate per annum equal to the Eurodollar Rate for such Interest Period plus the Applicable Rate and 

  

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(ii) each Base Rate Loan shall bear interest on the outstanding principal amount thereof from the applicable borrowing date at a rate per annum equal to the
Base Rate plus the Applicable Rate. 
 (b)    (i)    If any amount of principal of
any Loan is not paid when due (without regard to any applicable grace periods), whether at stated maturity, by acceleration or otherwise, such amount shall thereafter bear interest at a fluctuating interest rate per annum at all times equal to the
Default Rate to the fullest extent permitted by applicable Laws. 
 (ii)    If any amount
(other than principal of any Loan) payable by any Loan Party under any Loan Document is not paid when due (without regard to any applicable grace periods), whether at stated maturity, by acceleration or otherwise, then upon the request of the
Required Lenders, such amount shall thereafter bear interest at a fluctuating interest rate per annum at all times equal to the Default Rate to the fullest extent permitted by applicable Laws. 
 (iii)    Upon the request of the Required Lenders, while any Event of Default exists, AFG shall pay
interest on the principal amount of all outstanding Obligations hereunder at a fluctuating interest rate per annum at all times equal to the Default Rate to the fullest extent permitted by applicable Laws. 
 (iv)    Accrued and unpaid interest on past due amounts (including interest on past due interest)
shall be due and payable upon demand. 
 (c)    Interest on each Loan shall be due and payable in arrears
on each Interest Payment Date applicable thereto and at such other times as may be specified herein. Interest hereunder shall be due and payable in accordance with the terms hereof before and after judgment, and before and after the commencement of
any proceeding under any Debtor Relief Law. 
 2.08 Fees. 
 (a)    Commitment Fee.  AFG shall pay to the Administrative Agent for the account of each Lender in
accordance with its Applicable Percentage, a commitment fee equal to the Applicable Rate times the actual daily amount by which the Aggregate Commitments exceed the sum of (i) the Outstanding Amount of Revolving Loans and (ii) the
Outstanding Amount of the L/C Obligations. The commitment fee shall accrue at all times during the Availability Period, including at any time during which one or more of the conditions in Article IV is not met, and shall be due and payable
quarterly in arrears on the last Business Day of each March, June, September and December, commencing with the first such date to occur after the Closing Date, and on the last day of the Availability Period. The commitment fee shall be calculated
quarterly in arrears, and if there is any change in the Applicable Rate during any quarter, the actual daily amount shall be computed and multiplied by the Applicable Rate separately for each period during such quarter that such Applicable Rate was
in effect. 
  

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 (b)     Other Fees. 
 (i)    The Borrowers shall pay to the Arranger and the Administrative Agent for their own respective
accounts fees in the amounts and at the times specified in the Fee Letter. Such fees shall be fully earned when paid and shall not be refundable for any reason whatsoever. 
 (ii)    The Borrowers shall pay to the Lenders such fees as shall have been separately agreed upon in
writing in the amounts and at the times so specified. Such fees shall be fully earned when paid and shall not be refundable for any reason whatsoever. 
 2.09    Computation of Interest and Fees.  All computations of interest for Base Rate Loans when the Base Rate is determined by Bank of America’s “prime rate” and
all computations of fees shall be made on the basis of a year of 365 or 366 days, as the case may be, and actual days elapsed. Subject to Section 10.09, all other computations of interest shall be made on the basis of a 360-day year and
actual days elapsed (which results in more interest being paid than if computed on the basis of a 365-day year). Interest shall accrue on each Loan for the day on which the Loan is made, and shall not accrue on a Loan, or any portion thereof, for
the day on which the Loan or such portion is paid, provided that any Loan that is repaid on the same day on which it is made shall, subject to Section 2.11(a), bear interest for one day. Each determination by the Administrative
Agent of an interest rate or fee hereunder shall be conclusive and binding for all purposes, absent manifest error. 
 2.10    Evidence of Debt.  The Credit Extensions made by each Lender shall be evidenced by one or more accounts or records maintained by such Lender and by the Administrative Agent in the ordinary course
of business. The accounts or records maintained by the Administrative Agent and each Lender shall be conclusive absent manifest error of the amount of the Credit Extensions made by the Lenders to the Borrowers and the interest and payments thereon.
Any failure to so record or any error in doing so shall not, however, limit or otherwise affect the obligation of the Borrowers hereunder to pay any amount owing with respect to the Obligations. In the event of any conflict between the accounts and
records maintained by any Lender and the accounts and records of the Administrative Agent in respect of such matters, the accounts and records of the Administrative Agent shall control in the absence of manifest error. Upon the request of any Lender
made through the Administrative Agent, the Borrowers shall execute and deliver to such Lender (through the Administrative Agent) a Note, which shall evidence such Lender’s Loans in addition to such accounts or records. Each Lender may attach
schedules to its Note and endorse thereon the date, Type (if applicable), amount and maturity of its Loans and payments with respect thereto. 
 2.11    Payments Generally; Administrative Agent’s Clawback. 
 (a)    General.  All payments to be made by the Borrowers shall be made without condition or deduction for any counterclaim, defense, recoupment or setoff. Except as otherwise expressly provided herein,
all payments by the Borrowers hereunder shall be made to the Administrative Agent, for the account of the respective Lenders to which such payment is owed, at the Administrative Agent’s Office in Dollars and in immediately available funds not
later than 2:00 p.m. on the date specified herein. The Administrative Agent will promptly distribute to 

  

 36 

 
each Lender its Applicable Percentage (or other applicable share as provided herein) of such payment in like funds as received by wire transfer to such
Lender’s Lending Office. All payments received by the Administrative Agent after 2:00 p.m. shall be deemed received on the next succeeding Business Day and any applicable interest or fee shall continue to accrue. If any payment to be made by
the Borrowers shall come due on a day other than a Business Day, payment shall be made on the next following Business Day, and such extension of time shall be reflected in computing interest or fees, as the case may be. 
 (b)    (i)    Funding by Lenders; Presumption by Administrative Agent.  Unless
the Administrative Agent shall have received notice from a Lender prior to the proposed date of any Revolving Borrowing of a Eurodollar Rate Loan (or, in the case of any Revolving Borrowing of a Base Rate Loan, prior to 12:00 noon on the date of
such Revolving Borrowing) that such Lender will not make available to the Administrative Agent such Lender’s share of such Revolving Borrowing, the Administrative Agent may assume that such Lender has made such share available on such date in
accordance with Section 2.02 (or, in the case of a Revolving Borrowing on a Base Rate Loan, that such Lender has made such share available in accordance with and at the time required by Section 2.02) and may, in reliance upon
such assumption, make available to the applicable Borrower a corresponding amount. In such event, if a Lender has not in fact made its share of the applicable Revolving Borrowing available to the Administrative Agent, then the applicable Lender and
the applicable Borrower severally agree to pay to the Administrative Agent forthwith on demand such corresponding amount in immediately available funds with interest thereon, for each day from and including the date such amount is made available to
the applicable Borrower to but excluding the date of payment to the Administrative Agent, at (A) in the case of a payment to be made by such Lender, the greater of the Federal Funds Rate and a rate determined by the Administrative Agent in
accordance with banking industry rules on interbank compensation, plus any administrative, processing or similar fees customarily charged by the Administrative Agent in connection with the foregoing and (B) in the case of a payment to be made
by a Borrower, the interest rate applicable to Base Rate Loans. If a Borrower and such Lender shall pay such interest to the Administrative Agent for the same or an overlapping period, the Administrative Agent shall promptly remit to such Borrower
the amount of such interest paid by such Borrower for such period. If such Lender pays its share of the applicable Revolving Borrowing to the Administrative Agent, then the amount so paid shall constitute such Lender’s Revolving Loan included
in such Revolving Borrowing. Any payment by a Borrower shall be without prejudice to any claim such Borrower may have against a Lender that shall have failed to make such payment to the Administrative Agent. 
 (ii)    Payments by a Borrower; Presumptions by Administrative Agent.  Unless the
Administrative Agent shall have received notice from a Borrower prior to the date on which any payment is due to the Administrative Agent for the account of the Lenders or the L/C Issuer hereunder that such Borrower will not make such payment, the
Administrative Agent may assume that such Borrower has made such payment on such date in accordance herewith and may, in reliance upon such assumption, distribute to the Lenders or the L/C Issuer, as the case may be, the amount due. In such event,
if such Borrower has not in fact made such payment, then each of the Lenders or the L/C Issuer, 

  

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as the case may be, severally agrees to repay to the Administrative Agent forthwith on demand the amount so distributed to such Lender or the L/C Issuer, in
immediately available funds with interest thereon, for each day from and including the date such amount is distributed to it to but excluding the date of payment to the Administrative Agent, at the greater of the Federal Funds Rate and a rate
determined by the Administrative Agent in accordance with banking industry rules on interbank compensation. 
 A notice of
the Administrative Agent to any Lender or a Borrower with respect to any amount owing under this subsection (b) shall be conclusive, absent manifest error. 
 (c)    Failure to Satisfy Conditions Precedent.  If any Lender makes available to the Administrative Agent funds for any Loan to be made by such Lender as
provided in the foregoing provisions of this Article II, and such funds are not made available to a Borrower by the Administrative Agent because the conditions to the applicable Credit Extension set forth in Article IV are not
satisfied or waived in accordance with the terms hereof, the Administrative Agent shall promptly return such funds (in like funds as received from such Lender) to such Lender, without interest. 
 (d)    Obligations of Lenders Several.  The obligations of the Lenders hereunder to make Revolving
Loans and to make payments pursuant to Section 10.04(c) are several and not joint. The failure of any Lender to make any Revolving Loan or to make any payment under Section 10.04(c) on any date required hereunder shall not
relieve any other Lender of its corresponding obligation to do so on such date, and no Lender shall be responsible for the failure of any other Lender to so make its Revolving Loan or to make its payment under Section 10.04(c).

 (e)    Funding Source.  Nothing herein shall be deemed to obligate any Lender to
obtain the funds for any Loan in any particular place or manner or to constitute a representation by any Lender that it has obtained or will obtain the funds for any Loan in any particular place or manner. 
 2.12    Sharing of Payments by Lenders.  If any Lender shall, by exercising any right of setoff or
counterclaim or otherwise, obtain payment in respect of any principal of or interest on any of the Revolving Loans made by it or the participation in L/C Obligations held by it resulting in such Lender’s receiving payment of a portion of the
aggregate amount of such Revolving Loans or participations and accrued interest thereon greater than its pro rata share thereof as provided herein, then the Lender receiving such greater proportion shall (a) notify the
Administrative Agent of such fact, and (b) purchase (for cash at face value) participations in the Revolving Loans and subparticipations in L/C Obligations of the other Lenders, or make such other adjustments as shall be equitable, so that the
benefit of all such payments shall be shared by the Lenders ratably in accordance with the aggregate amount of principal of and accrued interest on their respective Revolving Loans and other amounts owing them, provided that: 
 (i)    if any such participations or subparticipations are purchased and all or any portion of the
payment giving rise thereto is recovered, such participations or subparticipations shall be rescinded and the purchase price restored to the extent of such recovery, without interest; and 
  

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 (ii)    the provisions of this Section shall not be
construed to apply to (x) any payment made by a Borrower pursuant to and in accordance with the express terms of this Agreement or (y) any payment obtained by a Lender as consideration for the assignment of or sale of a participation in
any of its Revolving Loans or subparticipations in L/C Obligations to any assignee or participant, other than to AFG or any Subsidiary thereof (as to which the provisions of this Section shall apply). 
 Each Borrower consents to the foregoing and agrees, to the extent it may effectively do so under applicable law, that any Lender
acquiring a participation pursuant to the foregoing arrangements may exercise against such Borrower rights of setoff and counterclaim with respect to such participation as fully as if such Lender were a direct creditor of such Borrower in the amount
of such participation. 
 2.13    Increase in Commitments. 
 (a)    Request for Increase.  Provided there exists no Default, upon notice to the Administrative
Agent (which shall promptly notify the Lenders), AFG may from time to time, request one or more increases in the Aggregate Commitments in an aggregate amount (for all such requests) not exceeding $100,000,000; provided that (i) any such
request for an increase shall be in a minimum amount of $10,000,000, and (ii) the Aggregate Commitments shall not at any time exceed the lesser of (x) $600,000,000 or (y) the amount to which the maximum Aggregate Commitments shall
have been permanently reduced pursuant to Section 2.05 or otherwise under this Agreement. At the time of sending such notice, AFG (in consultation with the Administrative Agent) shall specify the time period within which each Lender is
requested to respond (which shall in no event be less than ten Business Days from the date of delivery of such notice to the Lenders). 
 (b)    Lender Elections to Increase.  Each Lender shall notify the Administrative Agent within such time period whether or not it agrees to increase its Commitment and, if so,
whether by an amount equal to, greater than, or less than its Applicable Percentage of such requested increase. Any Lender not responding within such time period shall be deemed to have declined to increase its Commitment. 
 (c)    Notification by Administrative Agent; Additional Lenders.  The Administrative Agent shall
notify AFG and each Lender of the Lenders’ responses to each request made hereunder. To achieve the full amount of a requested increase and subject to the approval of the Administrative Agent and the L/C Issuer (which approvals shall not be
unreasonably withheld), AFG may also invite additional Eligible Assignees to become Lenders pursuant to a joinder agreement in form and substance satisfactory to the Administrative Agent and its counsel. 
 (d)    Effective Date and Allocations.  If the Aggregate Commitments are increased in accordance
with this Section, the Administrative Agent and AFG shall determine the effective date (the “Increase Effective Date”) and the final allocation of such increase. The Administrative Agent shall promptly notify AFG and the Lenders of
the final allocation of such increase and the Increase Effective Date. 
  

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 (e)    Conditions to Effectiveness of Increase.  As
a condition precedent to such increase, each Borrower shall deliver to the Administrative Agent a certificate of such Borrower dated as of the Increase Effective Date (in sufficient copies for each Lender) signed by a Responsible Officer of such
Borrower (i) certifying and attaching the resolutions adopted by such Borrower approving or consenting to such increase, and (ii) certifying that, before and after giving effect to such increase, (A) the representations and warranties
contained in Article V and the other Loan Documents are true and correct on and as of the Increase Effective Date, except to the extent that such representations and warranties specifically refer to an earlier date, in which case they are
true and correct as of such earlier date, and except that for purposes of this Section 2.13, the representations and warranties contained in subsections (a) and (b) of Section 5.05 shall be deemed to refer to the
most recent statements furnished pursuant to clauses (a) and (b), respectively, of Section 6.01, and (B) no Default exists. The Borrowers shall prepay any Revolving Loans outstanding on the Increase Effective Date (and pay any
additional amounts required pursuant to Section 3.05) to the extent necessary to keep the outstanding Revolving Loans ratable with any revised Applicable Percentages arising from any nonratable increase in the Commitments under this
Section. 
 (f)    Conflicting Provisions.  This Section shall supersede any provisions
in Section 2.12 or 10.01 to the contrary. 
 ARTICLE III 
 TAXES, YIELD PROTECTION AND ILLEGALITY 
 3.01    Taxes. 
 (a)    Payments Free of
Taxes.  Any and all payments by or on account of any obligation of the Borrowers hereunder or under any other Loan Document shall be made free and clear of and without reduction or withholding for any Indemnified Taxes (including any
Other Taxes), provided that if either Borrower shall be required by applicable law to deduct any Indemnified Taxes (including any Other Taxes) from such payments, then (i) the sum payable shall be increased as necessary so that after
making all required deductions (including deductions applicable to additional sums payable under this Section) the Administrative Agent, Lender or L/C Issuer, as the case may be, receives an amount equal to the sum it would have received had no such
deductions been made, (ii) such Borrower shall make such deductions and (iii) such Borrower shall timely pay the full amount deducted to the relevant Governmental Authority in accordance with applicable law. 
 (b)    Payment of Other Taxes.  Without limiting the provisions of subsection (a) above, AFG
(and AAG, to the extent related to any Revolving Loan made to it) shall timely pay any Other Taxes to the relevant Governmental Authority in accordance with applicable law. 
 (c)    Indemnification.  AFG (and AAG, to the extent related to any Revolving Loan made to it) shall indemnify the Administrative Agent and each Lender,
within 10 days after demand therefor, for the full amount of any Indemnified Taxes or Other Taxes (including 

  

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Indemnified Taxes or Other Taxes imposed or asserted on or attributable to amounts payable under this Section) paid by the Administrative Agent or such
Lender, as the case may be, and any penalties, interest and reasonable expenses arising therefrom or with respect thereto, whether or not such Indemnified Taxes or Other Taxes were correctly or legally imposed or asserted by the relevant
Governmental Authority. A certificate as to the amount of such payment or liability delivered to AFG by a Lender or the L/C Issuer (with a copy to the Administrative Agent), or by the Administrative Agent on its own behalf or on behalf of a Lender
or the L/C Issuer, shall be conclusive absent manifest error. 
 (d)    Evidence of
Payments.  As soon as practicable after any payment of Indemnified Taxes or Other Taxes by AFG (or to the extent applicable, AAG) to a Governmental Authority, AFG (or to the extent applicable, AAG) shall deliver to the Administrative
Agent the original or a certified copy of a receipt issued by such Governmental Authority evidencing such payment, a copy of the return reporting such payment or other evidence of such payment reasonably satisfactory to the Administrative Agent.

 (e)    Status of Lenders.  Any Foreign Lender that is entitled to an exemption from
or reduction of withholding tax under the law of the jurisdiction in which either Borrower is resident for tax purposes, or any treaty to which such jurisdiction is a party, with respect to payments hereunder or under any other Loan Document shall
deliver to such Borrower (with a copy to the Administrative Agent), at the time or times prescribed by applicable law or reasonably requested by such Borrower or the Administrative Agent, such properly completed and executed documentation prescribed
by applicable law as will permit such payments to be made without withholding or at a reduced rate of withholding. In addition, any Lender, if requested by either Borrower or the Administrative Agent, shall deliver such other documentation
prescribed by applicable law or reasonably requested by such Borrower or the Administrative Agent as will enable such Borrower or the Administrative Agent to determine whether or not such Lender is subject to backup withholding or information
reporting requirements. 
 Without limiting the generality of the foregoing, in the event that either Borrower is resident
for tax purposes in the United States, any Foreign Lender shall deliver to such Borrower and the Administrative Agent (in such number of copies as shall be requested by the recipient) on or prior to the date on which such Foreign Lender becomes a
Lender under this Agreement (and from time to time thereafter upon the request of a Borrower or the Administrative Agent, but only if such Foreign Lender is legally entitled to do so), whichever of the following is applicable: 
 (i)    duly completed copies of Internal Revenue Service Form W-8BEN claiming eligibility for
benefits of an income tax treaty to which the United States is a party, 
 (ii)    duly
completed copies of Internal Revenue Service Form W-8ECI, 
 (iii)    in the case of a
Foreign Lender claiming the benefits of the exemption for portfolio interest under section 881(c) of the Code, (x) a certificate to the effect that such Foreign Lender is not (A) a “bank” within the meaning of section
881(c)(3)(A) of the 

  

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Code, (B) a “10 percent shareholder” of either Borrower within the meaning of section 881(c)(3)(B) of the Code, or (C) a “controlled
foreign corporation” described in section 881(c)(3)(C) of the Code and (y) duly completed copies of Internal Revenue Service Form W-8BEN, or 
 (iv)    any other form prescribed by applicable law as a basis for claiming exemption from or a reduction in United States Federal withholding tax duly completed together with
such supplementary documentation as may be prescribed by applicable law to permit a Borrower to determine the withholding or deduction required to be made. 
 (f)    Treatment of Certain Refunds.  If the Administrative Agent, any Lender or the L/C Issuer determines, in its sole discretion, that it has received a
refund of any Taxes or Other Taxes as to which it has been indemnified by either Borrower or with respect to which either Borrower has paid additional amounts pursuant to this Section, it shall pay to such Borrower an amount equal to such refund
(but only to the extent of indemnity payments made, or additional amounts paid, by such Borrower under this Section with respect to the Taxes or Other Taxes giving rise to such refund), net of all out-of-pocket expenses of the Administrative Agent,
such Lender or the L/C Issuer, as the case may be, and without interest (other than any interest paid by the relevant Governmental Authority with respect to such refund), provided that such Borrower, upon the request of the Administrative
Agent, such Lender or the L/C Issuer, agrees to repay the amount paid over to such Borrower (plus any penalties, interest or other charges imposed by the relevant Governmental Authority, unless such penalties, interest or other charges have resulted
from the gross negligence or willful misconduct of the Administrative Agent or such Lender) to the Administrative Agent, such Lender or the L/C Issuer in the event the Administrative Agent, such Lender or the L/C Issuer is required to repay such
refund to such Governmental Authority. This subsection shall not be construed to require the Administrative Agent, any Lender or the L/C Issuer to make available its tax returns (or any other information relating to its taxes that it deems
confidential) to either Borrower or any other Person. 
 3.02    Illegality.  If any
Lender determines that any Law has made it unlawful, or that any Governmental Authority has asserted that it is unlawful, for any Lender or its applicable Lending Office to make, maintain or fund Eurodollar Rate Loans, or to determine or charge
interest rates based upon the Eurodollar Rate, or any Governmental Authority has imposed material restrictions on the authority of such Lender to purchase or sell, or to take deposits of, Dollars in the London interbank market, then, on notice
thereof by such Lender to the Borrowers through the Administrative Agent, any obligation of such Lender to make or continue Eurodollar Rate Loans or to convert Base Rate Loans to Eurodollar Rate Loans shall be suspended until such Lender notifies
the Administrative Agent and the Borrowers that the circumstances giving rise to such determination no longer exist. Upon receipt of such notice, the applicable Borrower shall, upon demand from such Lender (with a copy to the Administrative Agent),
prepay or, if applicable, convert all Eurodollar Rate Loans of such Lender owed by such Borrower to Base Rate Loans, either on the last day of the Interest Period therefor, if such Lender may lawfully continue to maintain such Eurodollar Rate Loans
to such day, or immediately, if such Lender may not lawfully continue to maintain such Eurodollar Rate Loans. Upon any such prepayment or conversion, such Borrower shall also pay accrued interest on the amount so prepaid or converted. 
  

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 3.03    Inability to Determine Rates.  If the
Required Lenders determine that for any reason in connection with any request for a Eurodollar Rate Loan or a conversion to or continuation thereof that (a) Dollar deposits are not being offered to banks in the London interbank eurodollar
market for the applicable amount and Interest Period of such Eurodollar Rate Loan, (b) adequate and reasonable means do not exist for determining the Eurodollar Rate for any requested Interest Period with respect to a proposed Eurodollar Rate
Loan, or (c) the Eurodollar Rate for any requested Interest Period with respect to a proposed Eurodollar Rate Loan does not adequately and fairly reflect the cost to such Lenders of funding such Loan, the Administrative Agent will promptly so
notify the Borrowers and each Lender. Thereafter, the obligation of the Lenders to make or maintain Eurodollar Rate Loans shall be suspended until the Administrative Agent (upon the instruction of the Required Lenders) revokes such notice. Upon
receipt of such notice, the applicable Borrower may revoke any pending request for a Revolving Borrowing of, conversion to or continuation of Eurodollar Rate Loans or, failing that, will be deemed to have converted such request into a request for a
Revolving Borrowing of Base Rate Loans in the amount specified therein. 
 3.04    Increased Costs;
Reserves on Eurodollar Rate Loans. 
 (a)    Increased Costs Generally.  If any
Change in Law shall: 
 (i)    impose, modify or deem applicable any reserve, special
deposit, compulsory loan, insurance charge or similar requirement against assets of, deposits with or for the account of, or credit extended or participated in by, any Lender (except any reserve requirement contemplated by Section 3.04(e));

 (ii)    subject any Lender or the L/C Issuer to any tax of any kind whatsoever with
respect to this Agreement, any Letter of Credit, any participation in a Letter of Credit or any Eurodollar Loan made by it, or change the basis of taxation of payments to such Lender or the L/C Issuer in respect thereof (except for Indemnified Taxes
or Other Taxes covered by Section 3.01 and the imposition of, or any change in the rate of, any Excluded Tax payable by such Lender or the L/C Issuer ); or 
 (iii)    impose on any Lender or the L/C Issuer or the London interbank market any other condition,
cost or expense affecting this Agreement or Eurodollar Loans made by such Lender or any Letter of Credit or participation therein; 
 and the
result of any of the foregoing shall be to increase the cost to such Lender of making or maintaining any Eurodollar Loan (or of maintaining its obligation to make any such Loan), or to increase the cost to such Lender or the L/C Issuer of
participating in, issuing or maintaining any Letter of Credit (or of maintaining its obligation to participate in or to issue any Letter of Credit), or to reduce the amount of any sum received or receivable by such Lender or the L/C Issuer hereunder
(whether of principal, interest or any other amount) then, upon request of such Lender or the L/C issuer, as the case may be, AFG will pay to such Lender or the L/C Issuer, as the case may be, such additional amount or amounts as will compensate
such Lender or the L/C Issuer, as the case may be, for such additional costs incurred or reduction suffered. 
  

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 (b)    Capital Requirements.   If any Lender or the
L/C Issuer determines that any Change in Law affecting such Lender or the L/C Issuer or any Lending Office of such Lender or such Lender’s or the L/C Issuer’s holding company, if any, regarding capital requirements has or would have the
effect of reducing the rate of return on such Lender’s or the L/C Issuer’s capital or on the capital of such Lender’s or the L/C Issuer’s holding company, if any, as a consequence of this Agreement, the Commitments of such Lender
or the Loans made by, or participations in Letters of Credit held by, such Lender, or the Letter of Credit issued by the L/C Issuer, to a level below that which such Lender or the L/C Issuer or such Lender’s or the L/C Issuer’s holding
company could have achieved but for such Change in Law (taking into consideration such Lender’s or the L/C Issuer’s policies and the policies of such Lender’s or the L/C Issuer’s holding company with respect to capital adequacy),
then from time to time AFG will pay to such Lender or the L/C Issuer, as the case may be, such additional amount or amounts as will compensate such Lender or the L/C Issuer or such Lender’s or the L/C Issuer’s holding company for any such
reduction suffered. 
 (c)    Certificates for Reimbursement.   A certificate of a
Lender or the L/C Issuer setting forth the amount or amounts necessary to compensate such Lender or the L/C Issuer or its holding company, as the case may be, as specified in subsection (a) or (b) of this Section and delivered to AFG shall
be conclusive absent manifest error. AFG shall pay such Lender or the L/C Issuer, as the case may be, the amount shown as due on any such certificate within 10 days after receipt thereof. 
 (d)    Delay in Requests.   Failure or delay on the part of any Lender or the L/C Issuer to demand
compensation pursuant to the foregoing provisions of this Section shall not constitute a waiver of such Lender’s or the L/C Issuer’s right to demand such compensation, provided that neither Borrower shall not be required to
compensate a Lender or the L/C Issuer pursuant to the foregoing provisions of this Section for any increased costs incurred or reductions suffered more than nine months prior to the date that such Lender or the L/C Issuer, as the case may be,
notifies a Borrower of the Change in Law giving rise to such increased costs or reductions and of such Lender’s or the L/C Issuer’s intention to claim compensation therefor (except that, if the Change in Law giving rise to such increased
costs or reductions is retroactive, then the nine-month period referred to above shall be extended to include the period of retroactive effect thereof). 
 (e)    Reserves on Eurodollar Rate Loans.   AFG (and AAG, to the extent related to any Eurodollar Rate Loan made to it) shall pay to each Lender, as long as such Lender shall be
required to maintain reserves with respect to liabilities or assets consisting of or including Eurocurrency funds or deposits (currently known as “Eurocurrency liabilities”), additional interest on the unpaid principal amount of each
Eurodollar Rate Loan equal to the actual costs of such reserves allocated to such Loan by such Lender (as determined by such Lender in good faith, which determination shall be conclusive), which shall be due and payable on each date on which
interest is payable on such Loan, provided the applicable Borrower shall have received at least 10 days’ prior notice (with a copy to the Administrative Agent) of such additional interest from such Lender. If a Lender fails to give
notice 10 days prior to the relevant Interest Payment Date, such additional interest shall be due and payable 10 days from receipt of such notice. 
 3.05    Compensation for Losses.   Upon demand of any Lender (with a copy to the Administrative Agent) from time to time, AFG (and AAG, to the extent related to any Eurodollar Rate
Loan made to it) shall promptly compensate such Lender for and hold such Lender harmless from any loss, cost or expense incurred by it as a result of: 
  

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 (a)    any continuation, conversion, payment or prepayment of any
Loan other than a Base Rate Loan on a day other than the last day of the Interest Period for such Loan (whether voluntary, mandatory, automatic, by reason of acceleration, or otherwise); 
 (b)    any failure by a Borrower (for a reason other than the failure of such Lender to make a Loan) to prepay,
borrow, continue or convert any Loan other than a Base Rate Loan on the date or in the amount notified by such Borrower; or 
 (c)    any assignment of a Eurodollar Rate Loan on a day other than the last day of the Interest Period therefor as a result of a request by AFG pursuant to Section 10.13; 
 including any loss of anticipated profits and any loss or expense arising from the liquidation or reemployment of funds obtained by it to maintain such
Loan or from fees payable to terminate the deposits from which such funds were obtained. The applicable Borrower shall also pay any customary administrative fees charged by such Lender in connection with the foregoing. For purposes of calculating
amounts payable by a Borrower to the Lenders under this Section 3.05 with respect to loss of anticipated profits, such Borrower shall be obligated to pay an amount equal to the daily interest for the unexpired portion of such Interest
Period on the portion of the Loan so repaid, or as to which a Eurodollar Rate Loan was so terminated, at a per annum rate equal to the excess, if any, of (i) the Eurodollar Rate calculated on the basis of the rate applicable to such Loan
minus (ii) the rate of interest obtainable by the Administrative Agent upon the purchase of debt securities customarily issued by the Treasury of the United States of America which have a maturity date approximating the last Banking Day
of such Interest Period, together with reimbursement for any other fees, expenses or charges incurred by such Lender arising from the liquidation or reemployment of funds obtained by it to maintain such Loan or from fees payable to terminate the
deposits. 
 3.06    Mitigation Obligations; Replacement of Lenders. 
 (a)    Designation of a Different Lending Office.  If any Lender requests compensation under
Section 3.04, or a Borrower is required to pay any additional amount to any Lender or any Governmental Authority for the account of any Lender pursuant to Section 3.01, or if any Lender gives a notice pursuant to
Section 3.02, then such Lender shall use reasonable efforts to designate a different Lending Office for funding or booking its Loans hereunder or to assign its rights and obligations hereunder to another of its offices, branches or
affiliates, if, in the judgment of such Lender, such designation or assignment (i) would eliminate or reduce amounts payable pursuant to Section 3.01 or 3.04, as the case may be, in the future, or eliminate the need for the
notice pursuant to Section 3.02, as applicable, and (ii) in each case, would not subject such Lender to any unreimbursed cost or expense and would not otherwise be disadvantageous to such Lender. AFG (and AAG, to the extent related
to any Eurodollar Rate Loan made to it) hereby agrees to pay all reasonable costs and expenses incurred by any Lender in connection with any such designation or assignment. 
  

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 (b)    Replacement of Lenders.  If any Lender
requests compensation under Section 3.04, or if a Borrower is required to pay any additional amount to any Lender or any Governmental Authority for the account of any Lender pursuant to Section 3.01, AFG may replace such
Lender in accordance with Section 10.13. 
 3.07    Survival.  All of the
Borrowers’ obligations under this Article III shall survive termination of the Aggregate Commitments and repayment of all other Obligations hereunder. 
 ARTICLE IV 
 CONDITIONS PRECEDENT TO CREDIT EXTENSIONS 
 4.01    Conditions of Initial Credit Extension.  The obligation of each Lender to make its initial
Credit Extension hereunder is subject to satisfaction of the following conditions precedent having been met: 
 (a)    The Administrative Agent’s receipt of the following, each of which shall be originals or telecopies (followed promptly by originals) unless otherwise specified, each properly executed by a Responsible Officer
of each Loan Party, each dated the Closing Date (or, in the case of certificates of governmental officials, a recent date before the Closing Date) and each in form and substance satisfactory to the Administrative Agent and each of the Lenders:

 (i)    executed counterparts of this Agreement, sufficient in number for distribution
to the Administrative Agent, each Lender and each Borrower; 
 (ii)    a Note executed by
each Borrower in favor of each Lender requesting a Note; 
 (iii)    the AFG Guaranty,
duly executed by AFG; 
 (iv)    such certificates of resolutions or other action,
incumbency certificates and/or other certificates of Responsible Officers of each Borrower as the Administrative Agent may require evidencing the identity, authority and capacity of each Responsible Officer thereof authorized to act as a Responsible
Officer in connection with this Agreement and the other Loan Documents to which such Borrower is a party; 
 (v)    such documents and certifications as the Administrative Agent may reasonably require to evidence that each Loan Party is duly organized or formed, and that each Loan Party is validly existing, in good standing and
qualified to engage in business in each jurisdiction where its ownership, lease or operation of properties or the conduct of its business requires such qualification, except to the extent that failure to do so could not reasonably be expected to
have a Material Adverse Effect; 
 (vi)    a favorable opinion of Keating,
Muething & Klekamp, counsel to the Loan Parties, addressed to the Administrative Agent and each Lender, as to the matters concerning AFG and its Subsidiaries and the Loan Documents as the Required Lenders may reasonably request; 

 

 46 

 (vii)    a certificate of a Responsible Officer of
each Borrower either (A) attaching copies of all consents, licenses and approvals required in connection with the execution, delivery and performance by such Borrower and the validity against such Borrower of the Loan Documents to which it is a
party, and such consents, licenses and approvals shall be in full force and effect, or (B) stating that no such consents, licenses or approvals are so required; 
 (viii)    a certificate signed by a Responsible Officer of AFG certifying (A) that the
conditions specified in Sections 4.02(a) and (b) have been satisfied, and (B) that there has been no event or circumstance since the date of the Audited Financial Statements that has had or could be reasonably expected to
have, either individually or in the aggregate, a Material Adverse Effect; and (C) the current Debt Ratings; 
 (ix)    a duly completed Compliance Certificate for the period ending December 31, 2005, signed by a Responsible Officer of AFG; 
 (x)    evidence that the Existing AFG Credit Agreement and the Existing GAFRI Credit Agreement have
been or concurrently with the Closing Date are being terminated and all outstanding fees and interest related thereto have been paid in full; 
 (xi)    executed Subordination Agreement by each Borrower’s Subsidiaries and Affiliates to which each Borrower has any Indebtedness; and 
 (xii)    such other assurances, certificates, documents, consents or opinions as the Administrative
Agent or the Required Lenders reasonably may require. 
 (b)    Any fees related to this Agreement
required to be paid on or before the Closing Date shall have been paid. 
 (c)    Unless waived by the
Administrative Agent, the Borrowers shall have paid all fees, charges and disbursements of counsel to the Administrative Agent (directly to such counsel if requested by the Administrative Agent) to the extent invoiced prior to or on the Closing
Date, plus such additional amounts of such fees, charges and disbursements as shall constitute its reasonable estimate of such fees, charges and disbursements incurred or to be incurred by it through the closing proceedings (provided that such
estimate shall not thereafter preclude a final settling of accounts between the Borrowers and the Administrative Agent). 
 (d)    The Closing Date shall have occurred on or before April 15, 2006. 
 Without limiting the generality
of the provisions of Section 9.04, for purposes of determining compliance with the conditions specified in this Section 4.01, each Lender that has signed this Agreement shall be deemed to have consented to, approved or
accepted or to be satisfied with, (i) this Agreement and the Schedules and Exhibits attached hereto and each other document to which it is a party or which it has reviewed or (ii) any other matter required thereunder to be consented to or
approved by or acceptable or satisfactory to a Lender unless the Administrative Agent shall have received notice from such Lender prior to the proposed Closing Date specifying its objection thereto. 
  

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 4.02    Conditions to all Credit Extensions.  The
obligation of each Lender to honor any Request for Credit Extension (other than a Revolving Loan Notice requesting only a conversion of Revolving Loans to the other Type, or a continuation of Eurodollar Rate Loans) is subject to the following
conditions precedent: 
 (a)    The representations and warranties of AFG contained in Article V
or any other Loan Document, or which are contained in any document furnished at any time under or in connection herewith or therewith, shall be true and correct on and as of the date of such Credit Extension, except to the extent that such
representations and warranties specifically refer to an earlier date, in which case they shall be true and correct as of such earlier date, and except that for purposes of this Section 4.02, the representations and warranties contained
in subsections (a), (b) and (c) of Section 5.05 shall be deemed to refer to the most recent statements furnished pursuant to clauses (a), (b) and (c), respectively, of Section 6.01. 
 (b)    No Default shall exist, or would result from such proposed Credit Extension or from the application of the
proceeds thereof. 
 (c)    The Administrative Agent and, if applicable, the L/C Issuer, shall have
received a Request for Credit Extension in accordance with the requirements hereof. 
 Each Request for Credit Extension (other than a
Revolving Loan Notice requesting only a conversion of Revolving Loans to the other Type or a continuation of Eurodollar Rate Loans) submitted by a Borrower shall be deemed to be a representation and warranty that the conditions specified in
Sections 4.02(a) and (b) have been satisfied on and as of the date of the applicable Credit Extension. 
 ARTICLE V

 REPRESENTATIONS AND WARRANTIES 
 AFG represents and warrants to the Administrative Agent and the Lenders that: 
 5.01    Existence, Qualification and Power.  AFG and each of its Subsidiaries thereof (a) is duly organized or formed, validly existing and, as applicable, in good standing under the Laws of the
jurisdiction of its incorporation or organization, (b) has all requisite power and authority and all requisite governmental licenses, insurance licenses, authorizations, consents and approvals to (i) own its assets and carry on its
business and (ii) execute, deliver and perform its obligations under the Loan Documents to which it is a party, and (c) is duly qualified and is licensed and in good standing under the Laws of each jurisdiction where its ownership, lease
or operation of properties or the conduct of its business requires such qualification or license, except in each case referred to in clause (b)(i) or (c), to the extent that failure to do so could not, either individually or in the aggregate,
reasonably be expected to have a Material Adverse Effect. 
 5.02    Authorization; No
Contravention.  The execution, delivery and performance by each Loan Party of each Loan Document to which it is party, have been duly authorized by all necessary corporate action, and do not and will not (a) contravene the terms
of any of such Loan Party’s Organization Documents; (b) conflict with or result in any breach or contravention of, or the creation of any Lien under, or require any payment to be made under (i) any Contractual Obligation to which such
Loan Party is a party or affecting such Loan Party or the properties of 

  

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AFG or any of its Subsidiaries or (ii) any order, injunction, writ or decree of any Governmental Authority or any arbitral award to which such Loan
Party or its property is subject; or (c) violate any Law. 
 5.03    Governmental
Authorization;  Other Consents. No approval, consent, exemption, authorization, or other action by, or notice to, or filing with, any Governmental Authority or any other Person is necessary or required in connection with the
execution, delivery or performance by, or enforcement against, any Loan Party of this Agreement or any other Loan Document. 
 5.04    Binding Effect.  This Agreement has been, and each other Loan Document, when delivered hereunder, will have been, duly executed and delivered by each Loan Party to the extent that it is
party thereto. This Agreement constitutes, and each other Loan Document when so delivered will constitute, a legal, valid and binding obligation of such Loan Party that is party thereto, enforceable against such Loan Party to the extent that it is
party thereto in accordance with its terms, subject to Debtor Relief Laws. 
 5.05    Financial
Statements; No Material Adverse Effect. 
 (a)    The Audited Financial Statements (i) were
prepared in accordance with GAAP consistently applied throughout the period covered thereby, except as otherwise expressly noted therein; (ii) fairly present the financial condition of AFG and its Subsidiaries as of the date thereof and their
results of operations for the period covered thereby in accordance with GAAP consistently applied throughout the period covered thereby, except as otherwise expressly noted therein; and (iii) show all material indebtedness and other
liabilities, direct or contingent, of AFG and its Subsidiaries as of the date thereof, including liabilities for taxes, material commitments and Indebtedness. 
 (b)    AFG’s Form 10-K for the fiscal year ended December 31, 2005 (including all of the financial statements and schedules included therein) contains all
information which is required to be stated therein in accordance with the Exchange Act and conforms in all material respects to the requirements thereof; and AFG’s Form 10-K for the fiscal year ended December 31, 2005 did not when filed
include any untrue statement of a material fact or omit to state a material fact which was required to be stated therein or was necessary to make the statements therein not misleading in the light of the circumstances in which they were made.
AFG’s 10-K for the fiscal year ended December 31, 2005 sets forth all material indebtedness and other liabilities, direct or contingent, of AFG and its consolidated Subsidiaries as of the date of such financial statements, including
liabilities for taxes, material commitments and Indebtedness. 
 (c)    The December 31, 2005 annual
financial statements of GAIC, GALIC and RICA in the form filed with the Superintendent of Insurance of the State of Ohio and California, respectively, were prepared in accordance with applicable statutory accounting principles and fairly present in
accordance with applicable statutory regulations and guidelines, the financial condition of GAIC, GALIC and RICA at the dates thereof and the results of its operation for the periods covered thereby. 
  

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 (d)    Since the date of the Audited Financial Statements, there has
been no event or circumstance, either individually or in the aggregate, that has had or could reasonably be expected to have a Material Adverse Effect. 
 5.06    Litigation.  There is no litigation, at law or in equity, or any proceeding before any federal, state, provincial or municipal court, board or other Governmental Authority
or administrative agency or any arbitrator pending or to the knowledge of AFG threatened which may involve any material risk of any final judgment or liability not adequately covered by insurance or which may otherwise, individually or in the
aggregate, result in a Material Adverse Effect, or which questions the validity or enforceability of this Agreement or any other Loan Document, and no judgment, decree, or order of any federal, state, provincial or municipal court, board or other
governmental or administrative agency or arbitrator has been issued against AFG or any of its Subsidiaries which has resulted, or poses a material risk of resulting in, individually or in the aggregate, a Material Adverse Effect. 
 5.07    No Default.  Neither AFG nor any of its Subsidiaries is in default under or with respect to
any Contractual Obligation that could, either individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. No Default has occurred and is continuing or would result from the consummation of the transactions
contemplated by this Agreement or any other Loan Document. 
 5.08    Ownership of Property;
Liens.  AFG and each of its Subsidiaries has good record and marketable title in fee simple to, or valid leasehold interests in, all real property necessary or used in the ordinary conduct of its business, except for such defects in
title as could not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. The property of AFG and its Subsidiaries is subject to no Liens, other than Liens permitted by Section 7.01. 
 5.09    Environmental Compliance.  AFG and its Subsidiaries conduct in the ordinary course of
business a review of the effect of existing Environmental Laws and claims alleging potential liability or responsibility for violation of any Environmental Law on their respective businesses, operations and properties, and as a result thereof AFG
has reasonably concluded that such Environmental Laws and claims could not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. 
 5.10    Insurance.  The properties of AFG and its Subsidiaries are insured with financially sound and reputable insurance companies not a direct or indirect
Subsidiary of AFG, in such amounts (after giving effect to any self-insurance compatible with the following standards), with such deductibles and covering such risks as are customarily carried by companies engaged in similar businesses and owning
similar properties in localities where AFG or the applicable Subsidiary operates. 
 5.11    Taxes.  AFG and its Subsidiaries have filed all Federal, state and other material tax returns and reports required to be filed, and have paid all Federal, state and other material taxes,
assessments, fees and other governmental charges levied or imposed upon them or their properties, income or assets otherwise due and payable, except those which are being contested in good faith by appropriate proceedings diligently conducted and
for which adequate reserves 

  

 50 

 
have been provided in accordance with GAAP. There is no proposed tax assessment against AFG or any of its Subsidiaries that would, either individually or in
the aggregate, if made, have a Material Adverse Effect. Neither AFG nor any of its Subsidiaries is party to any tax sharing agreement, other than the tax sharing agreements delivered to the Administrative Agent pursuant to Section 7.12.

 5.12    ERISA Compliance. 
 (a)    Each Plan is in compliance in all material respects with the applicable provisions of ERISA, the Code and
other Federal or state Laws. Each Plan that is intended to qualify under Section 401(a) of the Code has received a favorable determination letter from the IRS or an application for such a letter is currently being processed by the IRS with
respect thereto and, to the best knowledge of either Borrower, nothing has occurred which would prevent, or cause the loss of, such qualification. Each Borrower and each ERISA Affiliate have made all required contributions to each Plan subject to
Section 412 of the Code, and no application for a funding waiver or an extension of any amortization period pursuant to Section 412 of the Code has been made with respect to any Plan. 
 (b)    There are no pending or, to the best knowledge of AFG, threatened claims, actions or lawsuits, or action by
any Governmental Authority, with respect to any Plan that could reasonably be expected to have a Material Adverse Effect. There has been no prohibited transaction or violation of the fiduciary responsibility rules with respect to any Plan that has
resulted or could reasonably be expected to result in a Material Adverse Effect. 
 (c)    (i) No
ERISA Event has occurred or is reasonably expected to occur; (ii) no Pension Plan has any Unfunded Pension Liability; (iii) neither Borrower nor any ERISA Affiliate has incurred, or reasonably expects to incur, any liability under Title IV
of ERISA with respect to any Pension Plan (other than premiums due and not delinquent under Section 4007 of ERISA); (iv) neither Borrower nor any ERISA Affiliate has incurred, or reasonably expects to incur, any liability (and no event has
occurred which, with the giving of notice under Section 4219 of ERISA, would result in such liability) under Sections 4201 or 4243 of ERISA with respect to a Multiemployer Plan; and (v) neither Borrower nor any ERISA Affiliate has engaged
in a transaction that could be subject to Section 4069 or 4212(c) of ERISA. 
 5.13    Subsidiaries; Equity Interests.  As of the Closing Date, AFG has no Subsidiaries other than those specifically disclosed in Part (a) of Schedule 5.13, and all of the outstanding
Equity Interests in such Subsidiaries have been validly issued, are fully paid and nonassessable and are directly or indirectly owned by AFG or another Subsidiary in the amounts specified on Part (a) of Schedule 5.13 free and clear of
all Liens. AFG has no equity investments in excess of 10% of the equity capital in any other non-public corporation or non-public entity other than those specifically disclosed in Part (b) of Schedule 5.13. All of the outstanding Equity
Interests of each Borrower have been validly issued, and are fully paid and nonassessable. 
  

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 5.14    Margin Regulations; Investment Company Act; Public Utility
Holding Company Act. 
 (a)    Neither Borrower is engaged and will not engage, principally or as one
of its important activities, in the business of purchasing or carrying margin stock (within the meaning of Regulation U issued by the FRB), or extending credit for the purpose of purchasing or carrying margin stock. 
 (b)    None of AFG, any Person Controlling AFG, or any Subsidiary (i) is a “holding company,” or a
“subsidiary company” of a “holding company,” or an “affiliate” of a “holding company” or of a “subsidiary company” of a “holding company,” within the meaning of the Public Utility Holding
Company Act of 1935, or (ii) is or is required to be registered as an “investment company” under the Investment Company Act of 1940. 
 5.15    Disclosure.  AFG has disclosed to the Administrative Agent and the Lenders all agreements, instruments and corporate or other restrictions to which it or any of its
Subsidiaries is subject, and all other matters known to it, that, individually or in the aggregate, could reasonably be expected to result in a Material Adverse Effect. No report, financial statement, certificate or other information furnished
(whether in writing or orally) by or on behalf of AFG to the Administrative Agent or any Lender in connection with the transactions contemplated hereby and the negotiation of this Agreement or delivered hereunder or under any other Loan Document (in
each case, as modified or supplemented by other information so furnished) contains any material misstatement of fact or omits to state any material fact necessary to make the statements therein, in the light of the circumstances under which they
were made, not misleading; provided that, with respect to projected financial information, AFG represents only that such information was prepared in good faith based upon assumptions believed to be reasonable at the time. 
 5.16    Compliance with Laws.  AFG and each of its Subsidiaries is in compliance in all material
respects with the requirements of all Laws and all orders, writs, injunctions and decrees applicable to it or to its properties, except in such instances in which (a) such requirement of Law or order, writ, injunction or decree is being
contested in good faith by appropriate proceedings diligently conducted or (b) the failure to comply therewith, either individually or in the aggregate, could not reasonably be expected to have a Material Adverse Effect. 
 5.17    Taxpayer Identification Number.  The Borrowers’ true and correct U.S. taxpayer
identification numbers are set forth on Schedule 10.02. 
 5.18    Intellectual Property;
Licenses, Etc.  AFG and each of its Subsidiaries own, or possess the right to use, all of the trademarks, service marks, trade names, copyrights, patents, patent rights, franchises, licenses and other intellectual property rights
(collectively, “IP Rights”) that are reasonably necessary for the operation of their respective businesses, without conflict with the rights of any other Person. To the best knowledge of AFG, no slogan or other advertising device,
product, process, method, substance, part or other material now employed, or now contemplated to be employed, by AFG or any Subsidiary infringes upon any rights held by any other Person. 
  

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 ARTICLE VI 
 AFFIRMATIVE COVENANTS 
 So long as any Lender shall have any Commitment hereunder,
any Loan or other Obligation hereunder shall remain unpaid or unsatisfied, AFG shall, and shall (except in the case of the covenants set forth in Sections 6.01, 6.02, and 6.03) cause each of its Subsidiaries to: 
 6.01    Financial Statements.  Deliver to the Administrative Agent and each Lender, in form and
detail satisfactory to the Administrative Agent and the Required Lenders: 
 (a)    as soon as available,
but in any event within 90 days after the end of each fiscal year of AFG (commencing with the fiscal year ended December 31, 2005, the Annual Report on Form 10-K of AFG for the fiscal year then ended, a consolidated balance sheet of AFG and its
Subsidiaries, as at the end of such fiscal year, and the related consolidated statements of income or operations, shareholders’ equity and cash flows for such fiscal year, setting forth in each case in comparative form the figures for the
previous fiscal year, all in reasonable detail and prepared in accordance with GAAP, such consolidated statements of AFG to be audited and accompanied by (i) a report and opinion of a Registered Public Accounting Firm of nationally recognized
standing reasonably acceptable to the Required Lenders, which report and opinion shall be prepared in accordance with generally accepted auditing standards and applicable Securities Law and shall not be subject to any “going concern” or
like qualification or exception or any qualification or exception as to the scope of such audit and (ii) an opinion of such Registered Public Accounting Firm independently assessing AFG’s internal controls over financial reporting in
accordance with Item 308 of SEC Regulation S-K, PCAOB Auditing Standard No. 2 and Section 404 of Sarbanes-Oxley; 
 (b)    as soon as available, but in any event within 60 days after the end of each of the first three fiscal quarters of each fiscal year of AFG (commencing with the fiscal quarter ended March 31, 2006) the
quarterly report of AFG as required by the Exchange Act on Form 10-Q, a consolidated balance sheet of AFG and its Subsidiaries, as at the end of such fiscal quarter, and the related consolidated statements of income or operations, shareholders’
equity and cash flows for such fiscal quarter and for the portion of AFG and its Subsidiaries’ fiscal year then ended, setting forth in each case in comparative form the figures for the corresponding fiscal quarter of the previous fiscal year
and the corresponding portion of the previous fiscal year, all in reasonable detail, such consolidated statements to be certified by a Responsible Officer of AFG as fairly presenting the financial condition, results of operations, shareholders’
equity and cash flows of AFG and its Subsidiaries, in accordance with GAAP, subject only to normal year-end audit adjustments and the absence of footnotes; 
 (c)    as soon as available, but in any event within 90 days after the end of each fiscal year of GAFRI (commencing with the fiscal year ended December 31, 2005), the
Annual Report on Form 10-K of GAFRI for the fiscal year then ended, a consolidated balance sheet of GAFRI and its Subsidiaries, as at the end of such fiscal year, and the related consolidated statements of income or operations, shareholders’
equity and cash flows for such fiscal year, setting forth in each case in comparative form the figures for the previous fiscal year, all in reasonable detail and prepared in accordance with GAAP, such consolidated statements of GAFRI to be audited
and accompanied by (i) a report and opinion of a Registered Public Accounting Firm of nationally 

  

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recognized standing reasonably acceptable to the Required Lenders, which report and opinion shall be prepared in accordance with generally accepted auditing
standards and applicable Securities Law and shall not be subject to any “going concern” or like qualification or exception or any qualification or exception as to the scope of such audit or with respect to the absence of any material
installment and (ii) an opinion of such Registered Public Accounting Firm independently assessing GAFRI’s internal controls over financial reporting in accordance with Item 308 of SEC Regulation S-K, PCAOB Auditing Standard No. 2
and Section 404 of Sarbanes-Oxley; 
 (d)    as soon as available, but in any event within 60 days
after the end of each of the first three fiscal quarters of each fiscal year of GAFRI (commencing with the fiscal quarter ended March 31, 2006) the quarterly report of GAFRI as required by the Exchange Act on Form 10-Q, a consolidated balance
sheet of GAFRI and its Subsidiaries, as at the end of such fiscal quarter, and the related consolidated statements of income or operations, shareholders’ equity and cash flows for such fiscal quarter and for the portion of GAFRI and its
Subsidiaries’ fiscal year then ended, setting forth in each case in comparative form the figures for the corresponding fiscal quarter of the previous fiscal year and the corresponding portion of the previous fiscal year, all in reasonable
detail, such consolidated statements to be certified by a Responsible Officer of GAFRI as fairly presenting the financial condition, results of operations, shareholders’ equity and cash flows of GAFRI and its Subsidiaries, in accordance with
GAAP, subject only to normal year-end audit adjustments and the absence of footnotes; and 
 (e)    as
soon as available, all quarterly and annual statutory financial statements, including all exhibits and schedules thereto, of the Insurance Subsidiaries, in the form required by the respective Insurance Authorities. 
 As to any information contained in materials furnished pursuant to Section 6.02(d), AFG or GAFRI, as the case may be, shall not be separately
required to furnish such information under clause (a), (b), (c) or (d) above, but the foregoing shall not be in derogation of the obligation of AFG or GAFRI, as the case may be, to furnish the information and materials described in clauses
(a), (b), (c) and (d) above at the times specified therein. 
 6.02    Certificates; Other
Information.  Deliver to the Administrative Agent and each Lender, in form and detail satisfactory to the Administrative Agent and the Required Lenders: 
 (a)    concurrently with the delivery of the financial statements referred to in Sections 6.01(a) and 6.01(c), a certificate of the Registered Public Accounting
Firm certifying such financial statements and stating that in making the examination necessary therefor no knowledge was obtained of any Default under the financial covenants set forth herein or, if any such Default shall exist, stating the nature
and status of such event; 
 (b)    concurrently with the delivery of the financial statements referred
to in Sections 6.01(a), (b), (c) and (d) (commencing with the delivery of the financial statements for the fiscal quarter ended March 31, 2006), a duly completed Compliance Certificate signed by a
Responsible Officer of AFG with respect to the financial statements referred to in Sections 6.01(a) and (b) and a Responsible Officer of GAFRI with respect to the financial statements referred to in Sections 6.01(c) and
(d); 
  

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 (c)    promptly after any request by the Administrative Agent or any
Lender, copies of any detailed audit reports, management letters or recommendations submitted to the board of directors (or the audit committee of the board of directors) of either Borrower by independent accountants in connection with the accounts
or books of AFG or any Subsidiary, or any audit of any of them; 
 (d)    promptly after the same are
available, copies of each annual report, proxy or financial statement or other report or communication sent to the stockholders of either Borrower, and copies of all annual, regular, periodic and special reports and registration statements which
either Borrower may file or be required to file with the SEC under Section 13 or 15(d) of the Securities Exchange Act of 1934, and not otherwise required to be delivered to the Administrative Agent pursuant hereto; 
 (e)    promptly after the furnishing thereof, copies of any statement or report furnished to any holder of debt
securities of AFG or any of its Subsidiaries pursuant to the terms of any indenture, loan or credit or similar agreement and not otherwise required to be furnished to the Lenders pursuant to Section 6.01 or any other clause of this
Section 6.02; 
 (f)    promptly, and in any event within five Business Days after receipt
thereof by AFG or any of its Subsidiaries, copies of each notice or other correspondence received from the SEC (or comparable agency in any applicable non-U.S. jurisdiction) concerning any investigation or possible investigation or other inquiry by
such agency regarding financial or other operational results of AFG or any of its Subsidiaries; and 
 (g)    promptly, such additional information regarding the business, financial or corporate affairs of AFG or any Subsidiary, or compliance with the terms of the Loan Documents, as the Administrative Agent or any Lender
may from time to time reasonably request. 
 Documents required to be delivered pursuant to Section 6.01(a),
(b), (c), (d) or (e) or Section 6.02(d) (to the extent any such documents are included in materials otherwise filed with the SEC) may be delivered electronically and if so delivered, shall be deemed
to have been delivered on the date (i) on which a Borrower posts such documents, or provides a link thereto on such Borrower’s website on the Internet at the website address listed on Schedule 10.02; or (ii) on which such
documents are posted on such Borrower’s behalf on an Internet or intranet website, if any, to which each Lender and the Administrative Agent have access (whether a commercial, third-party website or whether sponsored by the Administrative
Agent); provided that: (i) a Borrower shall deliver paper copies of such documents to the Administrative Agent or any Lender that requests such Borrower to deliver such paper copies until a written request to cease delivering paper
copies is given by the Administrative Agent or such Lender and (ii) each Borrower shall notify the Administrative Agent and each Lender (by telecopier or electronic mail) of the posting of any such documents and provide to the Administrative
Agent by electronic mail electronic versions (i.e., soft copies) of such documents. Notwithstanding anything contained herein, in every instance AFG or GAFRI, as the case may be, shall be required to provide paper copies of the Compliance
Certificates required by Section 6.02(b) to the Administrative Agent and each Lender. Except for such Compliance Certificates, the Administrative Agent shall have no obligation to request the delivery or to maintain copies of the 

  

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documents referred to above, and in any event shall have no responsibility to monitor compliance by either Borrower with any such request for delivery, and
each Lender shall be solely responsible for requesting delivery to it or maintaining its copies of such documents. 
 The
Borrowers hereby acknowledge that (a) the Administrative Agent and/or the Arranger will make available to the Lenders and the L/C Issuer materials and/or information provided by or on behalf of the Borrowers hereunder (collectively,
“Borrowers’ Materials”) by posting the Borrowers’ Materials on IntraLinks or another similar electronic system (the “Platform”) and (b) certain of the Lenders may be “public-side” Lenders
(i.e., Lenders that do not wish to receive material non-public information with respect to the Borrowers or their respective securities) (each, a “Public Lender”). The Borrowers hereby agree that (w) all Borrowers’
Materials that are to be made available to Public Lenders shall be clearly and conspicuously marked “PUBLIC” which, at a minimum, shall mean that the word “PUBLIC” shall appear prominently on the first page thereof; (x) by
marking Borrowers’ Materials “PUBLIC,” the Borrowers shall be deemed to have authorized the Administrative Agent, the Arranger, the L/C Issuer and the Lenders to treat such Borrowers’ Materials as either publicly available
information or not material information (although it may be sensitive and proprietary) with respect to the Borrowers or their respective securities for purposes of United States Federal and state securities laws; (y) all Borrowers’
Materials marked “PUBLIC” are permitted to be made available through a portion of the Platform designated “Public Investor;” and (z) the Administrative Agent and the Arranger shall be entitled to treat any Borrowers’
Materials that are not marked “PUBLIC” as being suitable only for posting on a portion of the Platform not designated “Public Investor.” 
 6.03    Notices.  Promptly notify the Administrative Agent and each Lender: 
 (a)    of the occurrence of any Default; 
 (b)    of any matter that has resulted or could reasonably be expected to result in a Material Adverse Effect, including (i) breach or non-performance of, or any default under, a Contractual Obligation of AFG or any
Subsidiary; (ii) any dispute, litigation, investigation, proceeding or suspension between AFG or any Subsidiary and any Governmental Authority; or (iii) the commencement of, or any material development in, any litigation or proceeding
affecting AFG or any Subsidiary, including pursuant to any applicable Environmental Laws; 
 (c)    of
the occurrence of any ERISA Event; 
 (d)    of any material change in accounting policies or financial
reporting practices by AFG or any Subsidiary; 
 (e)    of any announcement by Moody’s or S&P of
any change in a Debt Rating; and (f) of the determination by the Registered Public Accounting Firm providing the opinion required under Section 6.01(a)(ii) or 6.01(c)(ii) (in connection with its preparation of either such
opinion) or a Borrower’s determination at any time of the occurrence or the existence of any Internal Control Event. 
 Each notice pursuant to this Section (other than Section 6.03(e)) shall be accompanied by a statement of a Responsible Officer of AFG setting forth details of the occurrence referred to 

  

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therein and stating what action AFG has taken and proposes to take with respect thereto. Each notice pursuant to Section 6.03(a) shall describe
with particularity any and all provisions of this Agreement and any other Loan Document that have been breached. 
 6.04    Payment of Obligations.  Pay and discharge as the same shall become due and payable, all its obligations and liabilities, including (a) all tax liabilities, assessments and governmental
charges or levies upon it or its properties or assets, unless the same are being contested in good faith by appropriate proceedings diligently conducted and adequate reserves in accordance with GAAP are being maintained by AFG or any Subsidiary;
(b) all lawful claims which, if unpaid, would by law become a Lien upon its property; and (c) all Indebtedness, as and when due and payable, but subject to any subordination provisions contained in any instrument or agreement evidencing
such Indebtedness. 
 6.05    Preservation of Existence,  Etc. (a) Preserve, renew
and maintain in full force and effect its legal existence and good standing under the Laws of the jurisdiction of its organization except in a transaction permitted by Section 7.04 or 7.05; (b) take all reasonable action to
maintain all rights, privileges, permits, licenses and franchises necessary or desirable in the normal conduct of its business, except to the extent that failure to do so could not, either individually or in the aggregate, reasonably be expected to
have a Material Adverse Effect; and (c) preserve or renew all of its registered patents, trademarks, trade names and service marks, the non-preservation of which could, either individually or in the aggregate, reasonably be expected to have a
Material Adverse Effect. 
 6.06    Maintenance of Properties.  (a) Maintain,
preserve and protect all of its material properties and equipment necessary in the operation of its business in good working order and condition, ordinary wear and tear excepted; and (b) make all necessary repairs thereto and renewals and
replacements thereof except where the failure to do so could not, either individually or in the aggregate, reasonably be expected to have a Material Adverse Effect; and (c) use the standard of care typical in the industry in the operation and
maintenance of its facilities. 
 6.07    Maintenance of Insurance.  Maintain with
financially sound and reputable insurance companies not Affiliates of AFG, insurance with respect to its properties and business against loss or damage of the kinds customarily insured against by Persons engaged in the same or similar business, of
such types and in such amounts (after giving effect to any self-insurance compatible with the following standards) as are customarily carried under similar circumstances by such other Persons and providing for not less than 30 days’ prior
notice to the Administrative Agent of termination, lapse or cancellation of such insurance. 
 6.08    Compliance with Laws.  Comply in all material respects with the requirements of all Laws and all orders, writs, injunctions and decrees applicable to it or to its business or property, except in
such instances in which (a) such requirement of Law or order, writ, injunction or decree is being contested in good faith by appropriate proceedings diligently conducted; or (b) the failure to comply therewith could not, either
individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. 
  

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 6.09    Books and Records.  (a) Maintain proper
books of record and account, in which full, true and correct entries in conformity with GAAP consistently applied shall be made of all financial transactions and matters involving the assets and business of AFG and each Subsidiary; and
(b) maintain such books of record and account in material conformity with all applicable requirements of any Governmental Authority having regulatory jurisdiction over AFG and each Subsidiary. 
 6.10    Inspection Rights.  Permit representatives and independent contractors of the Administrative
Agent and each Lender to visit and inspect any of its properties, to examine its corporate, financial and operating records, and make copies thereof or abstracts therefrom, and to discuss its affairs, finances and accounts with its directors,
officers, and independent public accountants, all at the expense of AFG and at such reasonable times during normal business hours and as often as may be reasonably desired, upon reasonable advance notice to AFG; provided, however, that
when an Event of Default exists the Administrative Agent or any Lender (or any of their respective representatives or independent contractors) may do any of the foregoing at the expense of AFG at any time during normal business hours and without
advance notice. 
 6.11    Use of Proceeds.  Use the proceeds of the Credit Extensions
for working capital, capital expenditures and other general corporate purposes and not in contravention of any Law or of any Loan Document. 
 6.12    Maintenance of Insurance Licenses.  Maintain all insurance licenses in good standing under the Laws of each jurisdiction where its ownership, lease or operation of
properties or the conduct of its business requires such license to conduct such business. 
 ARTICLE VII 
 NEGATIVE COVENANTS 
 So
long as any Lender shall have any Commitment hereunder, any Loan or other Obligation hereunder shall remain unpaid or unsatisfied: 
 7.01    Liens.  AFG shall not, nor shall it permit any of its Subsidiaries to, directly or indirectly, create, incur, assume or suffer to exist any Lien upon any of its property, assets or revenues,
whether now owned or hereafter acquired, other than the following: 
 (a)    Liens pursuant to any Loan
Document; 
 (b)    Investments on deposit with Insurance Authorities that are required by statute or
regulation; 
 (c)    Liens on the assets of AFG and its Subsidiaries (other than the Equity Interest of
GAIC, GALIC or any other Insurance Subsidiary that is a Significant Subsidiary) so long as no Default exists either before or immediately after giving effect to the creation of such Liens; provided, however, that the aggregate amount
of Indebtedness of AFG and its Subsidiaries at any time outstanding which is secured by Liens permitted under this Section 7.01(c) and Section 7.01(e) shall not exceed $100,000,000; and 
  

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 (d)    Liens securing Indebtedness of any of the Subsidiaries owing
to either Borrower; 
 (e)    Purchase money Liens (including mortgages, conditional sales, Capitalized
Leases and any other title retention or deferred purchase devices) in property of AFG or any of its Subsidiaries existing or created at the time of acquisition thereof, and the extension and refunding of any such Lien in an amount not exceeding the
amount thereof remaining unpaid immediately prior to such extension or refunding; provided, however, that (a) the principal amount of Indebtedness (including Indebtedness in respect of Capitalized Lease Obligations) secured by
each such Lien shall not exceed the fair market value (including all such Indebtedness secured thereby, whether or not assumed) of the property subject thereto and (b) the aggregate amount of Indebtedness of AFG and its Subsidiaries at any time
outstanding which is secured by Liens permitted under this Section 7.01(e) and Section 7.01(c) shall not exceed $100,000,000; and 
 (f)    Liens to secure Non-Recourse Real Estate Indebtedness of AFG and its Subsidiaries, provided such Liens are and will remain confined to the property or assets subject to it at the time of its
creation (and to fixed improvements thereafter) erected on such property or assets. 
 7.02    Investments.  AFG shall not, nor shall it permit any of its Subsidiaries to, directly or indirectly, make any Investments, unless no Default exists both before and immediately after giving effect
to such Investment. Notwithstanding the foregoing, if a Default shall exist, (a) any Subsidiary of AFG may make Investments in any other Subsidiary or in AFG and (b) AFG may make Investments in any of its Subsidiaries, provided that such
Subsidiary shall not then have outstanding any Indebtedness other than in respect of this Agreement. 
 7.03    Indebtedness.  AFG shall not, nor shall it permit any of its Subsidiaries to, directly or indirectly, create, incur, assume or suffer to exist any Indebtedness, except: 
 (a)    Indebtedness under the Loan Documents; 
 (b)    Indebtedness in respect of Capitalized Leases and purchase money obligations for fixed or capital assets
within the limitations set forth in Section 7.01(e); and 
 (c)    other Indebtedness at any
time outstanding; provided, (i) that at the time of incurrence of such Indebtedness and immediately after giving effect thereto, no Default exists or could result therefrom, and (ii) no Indebtedness shall have covenants more restrictive
than the covenants set forth in this Agreement. 
 7.04    Fundamental Changes.  AFG
shall not, nor shall it permit any of its Subsidiaries to, directly or indirectly, merge, dissolve, liquidate, consolidate with or into another Person, or Dispose of any assets (whether now owned or hereafter acquired) to or in favor of any Person,
except that, so long as no Default exists or would result therefrom: 
 (a)    AFG may become party to
any merger or consolidation of which AFG is the surviving entity so long as (i) AFG continues directly, or indirectly through a direct non-regulated subsidiary holding company in which AFG owns 100% of the Equity Interests, to own 100% of the
voting common stock of GAIC, and (ii) immediately after giving effect to such 
  

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transaction no Default shall occur or be continuing and AFG can demonstrate pro forma compliance with the financial covenants contained in
Section 7.10 of this Agreement immediately after giving effect to such transaction; 
 (b)    GAFRI may become party to any merger or consolidation of which GAFRI is the surviving entity or the surviving entity is an Affiliate of AFG and directly owns 100% of the common stock of AAG so long as
(i) GAFRI continues directly, or indirectly through a direct non-regulated subsidiary holding company in which GAFRI owns 100% of the Equity Interests, to own 100% of the voting common stock of AAG, (ii) AFG, GAFRI, AAG or any of their
respective Subsidiaries continues directly to own 100% of the voting common stock of GALIC, and (iii) immediately after giving effect to such transaction no Default shall occur or be continuing and AFG can demonstrate pro forma
compliance with the financial covenants contained in Section 7.10 immediately after giving effect to such transaction; 
 (c)    subject to clauses (a) and (b) above, any Subsidiary of AFG may be merged into or consolidated with, or may sell, lease or otherwise dispose of any of its assets to, AFG or any other Subsidiary of AFG,
so long as in the case of a merger or consolidation involving AFG, AFG shall be the surviving or resulting Person. Any Insurance Subsidiary may merge into or be consolidated with another Insurance Subsidiary so long as in the case of a merger or
consolidation involving (i) GAIC, the surviving entity shall be GAIC or (ii) GALIC, the surviving entity shall be GALIC; 
 (d)    AFG and its Subsidiaries may dispose of assets in the ordinary course of business that are no longer used or useful in such business or with respect to any business that is discontinued; and 
 (e)    AFG and its Subsidiaries may from time to time sell or dispose of assets (other than stock of GAIC and GALIC)
on arm’s length terms; provided, however, that: 
 (i)    the net book
value, determined in accordance with GAAP, of the assets sold pursuant to this Section 7.04(d) shall not exceed on a cumulative basis 25% of the net book value of all assets of AFG and its Subsidiaries as of December 31, 2005
provided that, for purposes of this clause (i), the net book value of assets sold shall not include (A) sales and dispositions of assets among AFG and its Subsidiaries, (B) sales and dispositions of portfolio assets among AFG and its
Subsidiaries, and (C) sales and dispositions of portfolio assets of AFG and its Subsidiaries in the ordinary course of business and 
 (ii)    the assets sold pursuant to this Section 7.04(d) shall not have contributed revenue, determined in accordance with GAAP, over the period of four fiscal quarters prior to the
respective sales exceeding 25% of the revenue of AFG and its Subsidiaries for the four fiscal quarters ended December 31, 2005. 
 7.05    Restricted Payments; Stock Redemptions.  AFG shall not, nor shall it permit any of its Subsidiaries to, directly or indirectly, declare or make, directly or indirectly, any
Restricted Payment, or incur any obligation (contingent or otherwise) to do so, except that, so long as no Default shall have occurred and be continuing at the time of any proposed Restricted 

  

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Payment or would result therefrom, AFG and its Subsidiaries may make Restricted Payments; provided, that, if there is a Default, any Subsidiary of AFG may
make a Restricted Payment to any other Subsidiary or to AFG. 
 7.06    Change in Nature of
Business.  AFG shall not, nor shall it permit any of its Subsidiaries to, directly or indirectly, engage in any material line of business other than those lines of business conducted by AFG and its Subsidiaries described in AFG’s
2005 Form 10-K and in businesses reasonably related thereto. 
 7.07    Transactions with
Affiliates.  AFG shall not, nor shall it permit any of its Subsidiaries to, directly or indirectly, enter into any transaction of any kind with any of its Affiliates (other than AFG or any of its Subsidiaries) on a basis less favorable
to AFG or any such Subsidiary than if the transaction had been effected with a non-Affiliate other than transactions involving less than $10,000,000 per year in the aggregate. 
 7.08    Burdensome Agreements.  AFG shall not, nor shall it permit any of its Subsidiaries to, directly or indirectly, subject to limitations imposed by Laws,
enter into any Contractual Obligation (other than this Agreement or any other Loan Document) that (a) limits the ability (i) of any Subsidiary to make Restricted Payments to either Borrower or to otherwise transfer property or make
extensions of credit to either Borrower or (ii) of AFG or any Subsidiary to create, incur, assume or suffer to exist Liens on property of such Person; provided, however, that this clause (ii) shall not prohibit any negative
pledge incurred or provided in favor of any holder of Indebtedness permitted under Section 7.03(b) solely to the extent any such negative pledge relates to the property financed by or the subject of such Indebtedness; or
(b) requires the grant of a Lien to secure an obligation of such Person if a Lien is granted to secure another obligation of such Person. 
 7.09    Use of Proceeds.  AFG shall not, nor shall it permit any of its Subsidiaries to, directly or indirectly, use the proceeds of any Credit Extension, whether directly or
indirectly, and whether immediately, incidentally or ultimately, to purchase or carry margin stock (within the meaning of Regulation U of the FRB) or to extend credit to others for the purpose of purchasing or carrying margin stock or to refund
indebtedness originally incurred for such purpose. 
 7.10    Financial Covenants. 
 (a)    AFG Consolidated Net Worth.  AFG shall not permit AFG Consolidated Net Worth on the last day
of any fiscal quarter after December 31, 2005 to be less than $1,720,000,000; provided, however, that such required minimum amount of AFG Consolidated Net Worth shall be increased for each fiscal quarter of AFG after
December 31, 2005, by an amount equal to the excess, if any, of (i) 50% of Consolidated Net Income of AFG for each such fiscal quarter minus (ii) cash dividends paid by AFG during each such fiscal quarter. 
 (b)    AFG Consolidated Total Financing Debt to AFG Total Capitalization.  AFG shall not permit the
ratio of AFG Consolidated Total Financing Debt to AFG Total Capitalization to exceed 0.375 to 1.00 on the last day of any fiscal quarter during the term of this Agreement. 
  

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 (c)    Dividends to Interest and Dividend Charges for
AFG.  AFG shall not permit, for any period of four consecutive fiscal quarters of AFG, the greatest of: 
 (i)    10% of “surplus as regards policyholders” (currently line 55, page 4 in the NAIC form of statutory annual financial statement) (as computed by the applicable Insurance Authorities)
of the Insurance Subsidiaries owned directly (or indirectly through a holding company in which all of the Equity Interest thereof is owned directly by AFG) by AFG as of the end of the then most recently completed fiscal year of AFG, 
 (ii)    100% of the “statutory net income” (currently line 35, page 4 in the NAIC form of
statutory annual financial statement) (as computed by the applicable Insurance Authorities) of the Insurance Subsidiaries owned directly (or indirectly through a holding company in which all of the Equity Interest thereof is owned directly by AFG)
by AFG for the then most recently completed fiscal year of AFG, or 
 (iii)    the amount
of cash dividends (or marketable securities paid in lieu of cash dividends) actually paid by the Insurance Subsidiaries and other Subsidiaries and received by AFG during such period of four consecutive fiscal quarters, 
 to be less than 200% of Interest and Dividend Charges for such period of four consecutive fiscal quarters. 
 (d)    Risk Based Capital Ratio of GAIC.  AFG shall not permit GAIC’s Risk Based Capital Ratio
(as defined by the NAIC) at any time to be less than 275%. 
 (e)    GAFRI Consolidated Financing Debt
to GAFRI Total Capitalization.  The ratio of GAFRI Consolidated Financing Debt to GAFRI Total Capitalization shall not exceed 0.350 to 1.00 on the last day of any fiscal quarter during the term of this Agreement. 
 (f)    Minimum Risk Based Capital Ratio of GALIC.  GALIC’s Risk Based Capital Ratio (as defined
by the NAIC) shall not at any time be less than 450%. 
 Notwithstanding anything in this Agreement to the contrary, any
required increases in the minimum requirements set forth in the financial covenants set forth in this Section 7.10 shall exclude realized gains on stock already reflected in AFG Consolidated Net Worth and GAFRI Consolidated Net Worth.

 7.11    Additional Debt Subordination.  AFG shall not, nor shall it permit any of its
Subsidiaries to, create, incur, suffer or permit to exist any Indebtedness to any Affiliate of AFG except (a) Indebtedness which is subordinated on terms substantially similar to the manner in which the Borrowers’ Indebtedness to their
respective Affiliates is subordinated under the Subordination Agreement, (b) public Indebtedness held from time to time by an Affiliate and (c) Indebtedness evidenced by the Subordinated Debentures. 
 7.12    Tax Sharing Agreements.  AFG shall not, nor shall it permit any Subsidiary to, enter into
any tax sharing agreements, including any amendments thereto, with any non-Affiliate unless such agreement or amendment shall be satisfactory in form and substance to the Administrative Agent in its sole discretion. 
  

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 7.13    Equity Issuances by Subsidiaries.  The
Subsidiaries of AFG shall not issue or sell any of their Equity Interests other than (a) shares issued to AFG or any wholly-owned Subsidiary of AFG; (b) shares issued by GAFRI or National Interstate for fair value in compliance with
applicable securities laws so long as the issuer in question remains a Subsidiary following such issuance; (c) Capital Trust Securities (i) issued to refinance Capital Trust Securities outstanding as of the Closing Date or (ii) issued
by American Financial Capital Trust I, AAG Trust or any other trust or similar entity, the proceeds of which are invested by such Person in an equivalent amount of Subordinated Debentures issued by GAFRI or AFG and (d) shares issued to
employees in connection with employee stock option plans. 
 7.14    AFG Bonds and AAG
Bonds.  Neither AFG nor AAG shall prepay, repurchase, defease or redeem the AFG Bonds or the AAG Bonds, respectively, in whole or in part, if at the time of any such prepayment, repurchase, defeasance or redemption a Default exists or
would result therefrom. 
 ARTICLE VIII 
 EVENTS OF DEFAULT AND REMEDIES 
 8.01    Events of
Default.  Any of the following shall constitute an Event of Default: 
 (a)    Non-Payment.  Any Loan Party fails to pay (i) when and as required to be paid herein, any amount of principal of any Loan or any L/C Obligation, or (ii) within three days after the same
becomes due, any interest on any Loan or on any L/C Obligation, or any fee due hereunder, or (iii) within five days after the same becomes due, any other amount payable hereunder or under any other Loan Document; or 
 (b)    Specific Covenants.  AFG fails to perform or observe any term, covenant or agreement
contained in any of Section 6.03(a), (b), (c) or (d), 6.05, 6.10, or 6.11 or Article VII; or 
 (c)    Other Defaults.  Any Loan Party fails to perform or observe any other covenant or agreement (not specified in subsection (a) or (b) above)
contained in any Loan Document on its part to be performed or observed and such failure continues for 30 days; or 
 (d)    Representations and Warranties.  Any representation, warranty, certification or statement of fact made or deemed made by or on behalf of either Borrower or any other Loan Party herein, in any
other Loan Document, or in any document delivered in connection herewith or therewith shall be materially incorrect or misleading when made or deemed made; or 
 (e)    Cross-Default.  (i) AFG or any or its Subsidiaries (A) fails to make any payment when due (whether by scheduled maturity, required
prepayment, acceleration, demand, or otherwise) in respect of any Indebtedness or Guarantee (other than Indebtedness hereunder and Indebtedness under Swap Contracts) having an aggregate principal amount (including undrawn committed or available
amounts and including amounts owing to all creditors under any combined or syndicated credit arrangement) of more than $20,000,000, or (B) fails to observe or perform any other agreement or condition relating to any such Indebtedness or
Guarantee or contained in any instrument or agreement evidencing, securing or relating thereto, or any other event occurs, the effect of which default or other event is to cause, or to permit the holder or 

  

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holders of such Indebtedness or the beneficiary or beneficiaries of such Guarantee (or a trustee or agent on behalf of such holder or holders or beneficiary
or beneficiaries) to cause, with the giving of notice if required, such Indebtedness to be demanded or to become due or to be repurchased, prepaid, defeased or redeemed (automatically or otherwise), or an offer to repurchase, prepay, defease or
redeem such Indebtedness to be made, prior to its stated maturity, or such Guarantee to become payable or cash collateral in respect thereof to be demanded; or (ii) there occurs under any Swap Contract an Early Termination Date (as defined in
such Swap Contract) resulting from (A) any event of default under such Swap Contract as to which AFG or any of its Subsidiaries is the Defaulting Party (as defined in such Swap Contract) or (B) any Termination Event (as so defined) under
such Swap Contract as to which AFG or any of its Subsidiaries is an Affected Party (as so defined) and, in either event, the Swap Termination Value owed by AFG or such Subsidiary as a result thereof is greater than $20,000,000; or 
 (f)    Insolvency Proceedings, Etc.  AFG or any of its Significant Subsidiaries institutes or
consents to the institution of any proceeding under any Debtor Relief Law, or makes an assignment for the benefit of creditors; or applies for or consents to the appointment of any receiver, trustee, custodian, conservator, liquidator, rehabilitator
or similar officer for it or for all or any material part of its property; or any receiver, trustee, custodian, conservator, liquidator, rehabilitator or similar officer is appointed without the application or consent of such Person and the
appointment continues undischarged or unstayed for 60 calendar days; or any proceeding under any Debtor Relief Law relating to any such Person or to all or any material part of its property is instituted without the consent of such Person and
continues undismissed or unstayed for 60 calendar days, or an order for relief is entered in any such proceeding; or 
 (g)    Inability to Pay Debts; Attachment.  (i) AFG or any of its Significant Subsidiaries becomes unable or admits in writing its inability or fails generally to pay its debts as they become due,
or (ii) any writ or warrant of attachment or execution or similar process is issued or levied against all or any material part of the property of any such Person and is not released, vacated or fully bonded within 30 days after its issue or
levy; or 
 (h)    Judgments.  There is entered against AFG or any of its Significant
Subsidiaries (i) one or more final judgments or orders for the payment of money in an aggregate amount (as to all such judgments or orders) exceeding $20,000,000 (to the extent not covered by independent third-party insurance as to which the
insurer does not dispute coverage), or (ii) any one or more non-monetary final judgments that have, or could reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect and, in either case, (A) enforcement
proceedings are commenced by any creditor upon such judgment or order, or (B) there is a period of 10 consecutive days during which a stay of enforcement of such judgment, by reason of a pending appeal or otherwise, is not in effect; or

 (i)    ERISA.    (i) An ERISA Event occurs with respect to a Pension
Plan or Multiemployer Plan which has resulted or could reasonably be expected to result in liability of AFG under Title IV of ERISA to the Pension Plan, Multiemployer Plan or the PBGC in an aggregate amount in excess of $20,000,000, or (ii) AFG
or any ERISA Affiliate fails to pay when due, after the expiration of any applicable grace period, any installment payment with respect to its withdrawal liability under Section 4201 of ERISA under a Multiemployer Plan in an aggregate amount in
excess of $20,000,000; or 
  

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 (j)    Invalidity of Loan Documents.  Any provision
of any Loan Document, at any time after its execution and delivery and for any reason other than as expressly permitted hereunder or thereunder or satisfaction in full of all the Obligations, ceases to be in full force and effect; or any Loan Party
or any of its Affiliates contests in any manner the validity or enforceability of any provision of any Loan Document; or any Loan Party denies that it has any or further liability or obligation under any Loan Document, or purports to revoke,
terminate or rescind any provision of any Loan Document; or 
 (k)    Change of
Control.  There occurs any Change of Control; or 
 (l)    Business
Prohibitions.  GAIC, GALIC or any other Insurance Subsidiary shall be prohibited by law from engaging in the business of effecting and carrying out of contracts of insurance, and such prohibition would have a Material Adverse Effect;
or 
 (m)    Governmental and Insurance Authority Decrees.  Any Governmental Authority
or Insurance Authority shall issue an order or decree which would require GAIC, GALIC or any other Insurance Subsidiary to reduce or terminate any substantial part of its insurance business, and such event would have a Material Adverse Effect; or

 (n)    Internal Control Event.  An Internal Control Event shall occur that could
reasonably be expected to have a Material Adverse Effect. 
 8.02    Remedies Upon Event of
Default.  If any Event of Default occurs and is continuing, the Administrative Agent shall, at the request of, or may, with the consent of, the Required Lenders, take any or all of the following actions: 
 (a)    declare the commitment of each Lender to make Loans and any obligation of the L/C Issuer to make L/C Credit
Extensions to be terminated, whereupon such commitments shall be terminated; 
 (b)    declare the unpaid
principal amount of all outstanding Loans, all interest accrued and unpaid thereon, and all other amounts owing or payable hereunder or under any other Loan Document to be immediately due and payable, without presentment, demand, protest or other
notice of any kind, all of which are hereby expressly waived by the Borrowers; 
 (c)    require that AFG
Cash Collateralize the L/C Obligations (in an amount equal to the then Outstanding Amount thereof); and 
 (d)    exercise on behalf of itself, the Lenders and the L/C Issuer all rights and remedies available to it, the Lenders and the L/C Issuer under the Loan Documents; 
 provided, however, that upon the occurrence of an actual or deemed entry of an order for relief with respect to either Borrower under the
Bankruptcy Code of the United States, the obligation of each Lender to make Loans and any obligation of the L/C Issuer to make L/C Credit Extensions shall automatically terminate, the unpaid principal amount of all outstanding Loans and all interest
and other amounts as aforesaid shall automatically become due and payable, and the obligation of AFG to Cash Collateralize the L/C Obligations as aforesaid shall automatically become effective, in each case, without further act of the Administrative
Agent or any Lender. 
  

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 8.03    Application of Funds.  After the exercise of
remedies provided for in Section 8.02 (or after the Loans have automatically become immediately due and payable and the L/C Obligations have automatically been required to be Cash Collateralized as set forth in the proviso to
Section 8.02), any amounts received on account of the Obligations shall be applied by the Administrative Agent in the following order: 
 First,  to payment of that portion of the Obligations constituting fees, indemnities, expenses and other amounts (including fees, charges and disbursements of counsel to the Administrative Agent and
amounts payable under Article III) payable to the Administrative Agent in its capacity as such; 
 Second,  to payment of that portion of the Obligations constituting fees, indemnities and other amounts (other than principal, interest and Letter of Credit Fees) payable to the Lenders and the L/C Issuer (including fees,
charges and disbursements of counsel to the respective Lenders and the L/C Issuer, including fees and time charges for attorneys who may be employees of any Lender or the L/C Issuer, and amounts payable under Article III), ratably among them
in proportion to the amounts described in this clause Second payable to them; 
 Third,  to payment
of that portion of the Obligations constituting accrued and unpaid Letter of Credit Fees and interest on the Loans, L/C Borrowings and other Obligations, ratably among the Lenders and the L/C Issuer in proportion to the respective amounts described
in this clause Third payable to them; 
 Fourth,  to payment of that portion of the Obligations
constituting unpaid principal of the Loans and L/C Borrowings, ratably among the Lenders and the L/C Issuer in proportion to the respective amounts described in this clause Fourth held by them; and 
 Fifth,  to the Administrative agent for the account of the L/C Issuer, to Cash Collateralize that portion of L/C
Obligations comprised of the aggregate undrawn amount of Letters of Credit; 
 Sixth,  to any remaining outstanding
unpaid Obligations, ratably among the Lenders in proportion to the respective amounts described in this clause Fifth held by them; and 
 Last,  the balance, if any, after all of the Obligations have been indefeasibly paid in full, to the applicable Borrower or as otherwise required by Law. 
 ARTICLE IX 
 ADMINISTRATIVE AGENT

 9.01    Appointment and Authority.  Each of the Lenders and the L/C Issuer hereby
irrevocably appoints Bank of America to act on its behalf as the Administrative Agent hereunder and under the other Loan Documents and authorizes the Administrative Agent to take such actions on its behalf and to exercise such powers as are
delegated to the Administrative Agent by the terms hereof or thereof, together with such actions and powers as are reasonably incidental thereto. The provisions of this Article are solely for the benefit of the Administrative Agent, the Lenders and
the L/C Issuer, and the Borrowers shall not have rights as a third party beneficiary of any of such provisions. 
  

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 9.02    Rights as a Lender.  The Person serving as
the Administrative Agent hereunder shall have the same rights and powers in its capacity as a Lender as any other Lender and may exercise the same as though it were not the Administrative Agent and the term “Lender” or “Lenders”
shall, unless otherwise expressly indicated or unless the context otherwise requires, include the Person serving as the Administrative Agent hereunder in its individual capacity. Such Person and its Affiliates may accept deposits from, lend money
to, act as the financial advisor or in any other advisory capacity for and generally engage in any kind of business with AFG or any Subsidiary or other Affiliate thereof as if such Person were not the Administrative Agent hereunder and without any
duty to account therefor to the Lenders. 
 9.03    Exculpatory Provisions.  The
Administrative Agent shall not have any duties or obligations except those expressly set forth herein and in the other Loan Documents. Without limiting the generality of the foregoing, the Administrative Agent: 
 (a)    shall not be subject to any fiduciary or other implied duties, regardless of whether a Default
has occurred and is continuing; 
 (b)    shall not have any duty to take any
discretionary action or exercise any discretionary powers, except discretionary rights and powers expressly contemplated hereby or by the other Loan Documents that the Administrative Agent is required to exercise as directed in writing by the
Required Lenders (or such other number or percentage of the Lenders as shall be expressly provided for herein or in the other Loan Documents), provided that the Administrative Agent shall not be required to take any action that, in its
opinion or the opinion of its counsel, may expose the Administrative Agent to liability or that is contrary to any Loan Document or applicable law; and 
 (c)    shall not, except as expressly set forth herein and in the other Loan Documents, have any duty to disclose, and shall not be liable for the failure to disclose, any
information relating to AFG or any of its Affiliates that is communicated to or obtained by the Person serving as the Administrative Agent or any of its Affiliates in any capacity. 
 The Administrative Agent shall not be liable for any action taken or not taken by it (i) with the consent or at the request of the
Required Lenders (or such other number or percentage of the Lenders as shall be necessary, or as the Administrative Agent shall believe in good faith shall be necessary, under the circumstances as provided in Sections 10.01 and 8.02)
or (ii) in the absence of its own gross negligence or willful misconduct. The Administrative Agent shall be deemed not to have knowledge of any Default unless and until notice describing such Default is given to the Administrative Agent by AFG,
a Lender or the L/C Issuer. 
 The Administrative Agent shall not be responsible for or have any duty to ascertain or inquire
into (i) any statement, warranty or representation made in or in connection with this Agreement or any other Loan Document, (ii) the contents of any certificate, report or other document delivered hereunder or thereunder or in connection
herewith or therewith, (iii) the performance or observance of any of the covenants, agreements or other terms or conditions set forth herein or therein or the occurrence of any Default, (iv) the validity, enforceability, effectiveness or
genuineness of this Agreement, any other Loan Document or any other 

  

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agreement, instrument or document or (v) the satisfaction of any condition set forth in Article IV or elsewhere herein, other than to confirm
receipt of items expressly required to be delivered to the Administrative Agent. 
 9.04    Reliance
by Administrative Agent.  The Administrative Agent shall be entitled to rely upon, and shall not incur any liability for relying upon, any notice, request, certificate, consent, statement, instrument, document or other writing
(including any electronic message, Internet or intranet website posting or other distribution) believed by it in good faith to be genuine and to have been signed, sent or otherwise authenticated by the proper Person. The Administrative Agent also
may rely upon any statement made to it orally or by telephone and believed by it to have been made by the proper Person, and shall not incur any liability for relying thereon. In determining compliance with any condition hereunder to the making of a
Loan, of the issuance of a Letter of Credit, that by its terms must be fulfilled to the satisfaction of a Lender or the L/C Issuer, the Administrative Agent may presume that such condition is satisfactory to such Lender or the L/C Issuer unless the
Administrative Agent shall have received notice to the contrary from such Lender or the L/C Issuer prior to the making of such Loan or the issuance of such Letter of Credit. The Administrative Agent may consult with legal counsel (who may be counsel
for either Borrower), independent accountants and other experts selected by it, and shall not be liable for any action taken or not taken by it in accordance with the advice of any such counsel, accountants or experts. 
 9.05    Delegation of Duties.  The Administrative Agent may perform any and all of its duties and
exercise its rights and powers hereunder or under any other Loan Document by or through any one or more sub-agents appointed by the Administrative Agent. The Administrative Agent and any such sub-agent may perform any and all of its duties and
exercise its rights and powers by or through their respective Related Parties. The exculpatory provisions of this Article shall apply to any such sub-agent and to the Related Parties of the Administrative Agent and any such sub-agent, and shall
apply to their respective activities in connection with the syndication of the credit facilities provided for herein as well as activities as Administrative Agent. 
 9.06    Resignation of Administrative Agent.  The Administrative Agent may at any time give notice of its resignation to the Lenders, the L/C Issuer and the
Borrowers. Upon receipt of any such notice of resignation, the Required Lenders shall have the right, in consultation with AFG, to appoint a successor, which shall be a bank with an office in the United States, or an Affiliate of any such bank with
an office in the United States. If no such successor shall have been so appointed by the Required Lenders and shall have accepted such appointment within 30 days after the retiring Administrative Agent gives notice of its resignation, then the
retiring Administrative Agent may on behalf of the Lenders and the L/C Issuer, appoint a successor Administrative Agent meeting the qualifications set forth above; provided that if the Administrative Agent shall notify the Borrowers and the
Lenders that no qualifying Person has accepted such appointment, then such resignation shall nonetheless become effective in accordance with such notice and (a) the retiring Administrative Agent shall be discharged from its duties and
obligations hereunder and under the other Loan Documents (except that in the case of any collateral security held by the Administrative Agent on behalf of the Lenders under any of the Loan Documents, the retiring Administrative Agent shall continue
to hold such collateral security until such time as a successor Administrative Agent is appointed) and (b) all payments, communications and determinations provided to be made by, to or through the Administrative 

  

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Agent shall instead be made by or to each Lender directly, until such time as the Required Lenders appoint a successor Administrative Agent as provided for
above in this Section. Upon the acceptance of a successor’s appointment as Administrative Agent hereunder, such successor shall succeed to and become vested with all of the rights, powers, privileges and duties of the retiring (or retired)
Administrative Agent, and the retiring Administrative Agent shall be discharged from all of its duties and obligations hereunder or under the other Loan Documents (if not already discharged therefrom as provided above in this Section). The fees
payable by the Borrowers to a successor Administrative Agent shall be the same as those payable to its predecessor unless otherwise agreed between the Borrowers and such successor. After the retiring Administrative Agent’s resignation hereunder
and under the other Loan Documents, the provisions of this Article and Section 10.04 shall continue in effect for the benefit of such retiring Administrative Agent, its sub-agents and their respective Related Parties in respect of any
actions taken or omitted to be taken by any of them while the retiring Administrative Agent was acting as Administrative Agent. 
 Any resignation by Bank of America as Administrative Agent pursuant to this Section shall also constitute its resignation as L/C Issuer. Upon the acceptance of a successor’s appointment as Administrative Agent hereunder, (a) such
successor shall succeed to and become vested with all of the rights, powers, privileges and duties of the retiring L/C Issuer, (b) the retiring L/C Issuer shall be discharged from all of its duties and obligations hereunder or under the other
Loan Documents, and (c) the successor L/C Issuer shall issue letters of credit in substitution for the Letters of Credit, if any, outstanding at the time of such succession or make other arrangements satisfactory to the retiring L/C Issuer to
effectively assume the obligations of the retiring L/C Issuer with respect to such Letters of Credit. 
 9.07    Non-Reliance on Administrative Agent and Other Lenders.  Each Lender and the L/C Issuer acknowledges that it has, independently and without reliance upon the Administrative Agent or any other
Lender or any of their Related Parties and based on such documents and information as it has deemed appropriate, made its own credit analysis and decision to enter into this Agreement. Each Lender and the L/C Issuer also acknowledges that it will,
independently and without reliance upon the Administrative Agent or any other Lender or any of their Related Parties and based on such documents and information as it shall from time to time deem appropriate, continue to make its own decisions in
taking or not taking action under or based upon this Agreement, any other Loan Document or any related agreement or any document furnished hereunder or thereunder. 
 9.08    No Other Duties, Etc.  Anything herein to the contrary notwithstanding, none of the Co-Syndication Agents, Documentation Agent or Arranger listed on
the cover page hereof shall have any powers, duties or responsibilities under this Agreement or any of the other Loan Documents, except in its capacity, as applicable, as the Administrative Agent or a Lender. 
 9.09    Administrative Agent May File Proofs of Claim.  In case of the pendency of any proceeding
under any Debtor Relief Law or any other judicial proceeding relative to any Loan Party, the Administrative Agent (irrespective of whether the principal of any Loan or L/C Obligation shall then be due and payable as herein expressed or by
declaration or otherwise and irrespective of whether the Administrative Agent shall have made any demand on a Borrower or any other Loan Party) shall be entitled and empowered, by intervention in such proceeding or otherwise 
  

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 (a)    to file and prove a claim for the whole amount
of the principal and interest owing and unpaid in respect of the Loans, L/C Obligations and all other Obligations that are owing and unpaid and to file such other documents as may be necessary or advisable in order to have the claims of the Lenders
and the Administrative Agent (including any claim for the reasonable compensation, expenses, disbursements and advances of the Lenders, the L/C Issuer and the Administrative Agent and their respective agents and counsel and all other amounts due the
Lenders, the L/C Issuer and the Administrative Agent under Sections 2.07 and 10.04) allowed in such judicial proceeding; and 
 (b)    to collect and receive any monies or other property payable or deliverable on any such claims and to distribute the same; 
 and any custodian, receiver, assignee, trustee, liquidator, sequestrator or other similar official in any such judicial proceeding is hereby authorized by each Lender and the L/C Issuer to make
such payments to the Administrative Agent and, in the event that the Administrative Agent shall consent to the making of such payments directly to the Lenders and the L/C Issuer, to pay to the Administrative Agent any amount due for the reasonable
compensation, expenses, disbursements and advances of the Administrative Agent and its agents and counsel, and any other amounts due the Administrative Agent under Sections 2.07 and 10.04. 
 Nothing contained herein shall be deemed to authorize the Administrative Agent to authorize or consent to or accept or adopt on behalf of
any Lender or the L/C Issuer any plan of reorganization, arrangement, adjustment or composition affecting the Obligations or the rights of any Lender or the L/C Issuer to authorize the Administrative Agent to vote in respect of the claim of any
Lender of the L/C Issuer in any such proceeding. 
 ARTICLE X 
 MISCELLANEOUS 
 10.01    Amendments,
Etc.  No amendment or waiver of any provision of this Agreement or any other Loan Document, and no consent to any departure by a Borrower or any other Loan Party therefrom, shall be effective unless in writing signed by the Required
Lenders and the Borrowers or the other applicable Loan Party, as the case may be, and acknowledged by the Administrative Agent, and each such waiver or consent shall be effective only in the specific instance and for the specific purpose for which
given; provided, however, that no such amendment, waiver or consent shall: 
 (a)    waive
any condition set forth in Section 4.01(a) without the written consent of each Lender; 
 (b)    extend or increase the Commitment of any Lender (or reinstate any Commitment terminated pursuant to Section 8.02) without the written consent of such Lender; 
 (c)    postpone any date fixed by this Agreement or any other Loan Document for any payment of principal, interest,
fees or other amounts due to the Lenders (or any of them) hereunder or under any other Loan Document without the written consent of each Lender directly affected thereby; 
  

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 (d)    reduce the principal of, or the rate of interest specified
herein on any Loan or L/C Borrowing, or (subject to clause (ii) or (iii) of this proviso to this Section 10.01) any fees or other amounts payable hereunder or under any other Loan Document without the written consent of each
Lender directly affected thereby; provided, however, that only the consent of the Required Lenders shall be necessary (i) to amend the definition of “Default Rate” or to waive any obligation of the Borrowers to pay
interest or Letter of Credit Fees at the Default Rate or (ii) to amend any financial covenant hereunder (or any defined term used therein) even if the effect of such amendment would be to reduce the rate of interest on any Loan or to reduce any
fee payable hereunder; 
 (e)    change Section 2.12 or Section 8.03 in a manner
that would alter the pro rata sharing of payments required thereby without the written consent of each Lender; 
 (f)    change any provision of this Section or the definition of “Required Lenders” or any other provision hereof specifying the number or percentage of Lenders required to amend, waive or otherwise modify any
rights hereunder or make any determination or grant any consent hereunder, without the written consent of each Lender; or 
 (g)    amend any other voting provisions in this Section 10.01; 
 and, provided
further, that (i) no amendment, waiver or consent shall, unless in writing and signed by the L/C Issuer in addition to the Lenders required above, affect the rights or duties of the L/C Issuer under this Agreement or any Issuer Document
relating to any Letter of Credit issued or to be issued by it; (ii) no amendment, waiver or consent shall, unless in writing and signed by the Administrative Agent in addition to the Lenders required above, affect the rights or duties of the
Administrative Agent under this Agreement or any other Loan Document; and (iii) the Fee Letter may be amended, or rights or privileges thereunder waived, in a writing executed only by the parties thereto. Notwithstanding anything to the
contrary herein, no Defaulting Lender shall have any right to approve or disapprove any amendment, waiver or consent hereunder, except that the Commitment of such Lender may not be increased or extended without the consent of such Lender.

 10.02    Notices; Effectiveness; Electronic Communication. 
 (a)    Notices Generally. Except in the case of notices and other communications expressly permitted to be
given by telephone (and except as provided in subsection (b) below), all notices and other communications provided for herein shall be in writing and shall be delivered by hand or overnight courier service, mailed by certified or registered
mail or sent by telecopier as follows, and all notices and other communications expressly permitted hereunder to be given by telephone shall be made to the applicable telephone number, as follows: 
 (i)    if to either Borrower, the Administrative Agent or the L/C Issuer, to the address, telecopier
number, electronic mail address or telephone number specified for such Person on Schedule 10.02; and 
  

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 (ii)    if to any other Lender, to the address,
telecopier number, electronic mail address or telephone number specified in its Administrative Questionnaire. 
 Notices sent by hand or
overnight courier service, or mailed by certified or registered mail, shall be deemed to have been given when received; notices sent by telecopier shall be deemed to have been given when sent (except that, if not given during normal business hours
for the recipient, shall be deemed to have been given at the opening of business on the next business day for the recipient). Notices delivered through electronic communications to the extent provided in subsection (b) below, shall be effective
as provided in such subsection (b). 
 (b)    Electronic Communications. Notices and other
communications to the Lenders and the L/C Issuer hereunder may be delivered or furnished by electronic communication (including e-mail and Internet or intranet websites) pursuant to procedures approved by the Administrative Agent, provided
that the foregoing shall not apply to notices to any Lender or the L/C Issuer pursuant to Article II if such Lender or the L/C Issuer, as applicable, has notified the Administrative Agent that it is incapable of receiving notices under such
Article by electronic communication. The Administrative Agent or either Borrower may, in its discretion, agree to accept notices and other communications to it hereunder by electronic communications pursuant to procedures approved by it,
provided that approval of such procedures may be limited to particular notices or communications. 
 Unless the
Administrative Agent otherwise prescribes, (i) notices and other communications sent to an e-mail address shall be deemed received upon the sender’s receipt of an acknowledgement from the intended recipient (such as by the “return
receipt requested” function, as available, return e-mail or other written acknowledgement), provided that if such notice or other communication is not sent during the normal business hours of the recipient, such notice or communication
shall be deemed to have been sent at the opening of business on the next business day for the recipient, and (ii) notices or communications posted to an Internet or intranet website shall be deemed received upon the deemed receipt by the
intended recipient at its e-mail address as described in the foregoing clause (i) of notification that such notice or communication is available and identifying the website address therefor. 
 (c)    The Platform. THE PLATFORM IS PROVIDED “AS IS” AND “AS AVAILABLE.” THE AGENT
PARTIES (AS DEFINED BELOW) DO NOT WARRANT THE ACCURACY OR COMPLETENESS OF THE BORROWERS’ MATERIALS OR THE ADEQUACY OF THE PLATFORM, AND EXPRESSLY DISCLAIM LIABILITY FOR ERRORS IN OR OMISSIONS FROM THE BORROWERS’ MATERIALS. NO WARRANTY OF
ANY KIND, EXPRESS, IMPLIED OR STATUTORY, INCLUDING ANY WARRANTY OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NON-INFRINGEMENT OF THIRD PARTY RIGHTS OR FREEDOM FROM VIRUSES OR OTHER CODE DEFECTS, IS MADE BY ANY AGENT PARTY IN CONNECTION WITH
THE BORROWERS’ MATERIALS OR THE PLATFORM. In no event shall the Administrative Agent or any of its Related Parties (collectively, the “Agent Parties”) have any liability to either Borrower, any Lender, the L/C Issuer or any
other Person for losses, claims, damages, liabilities or expenses of any kind (whether in tort, contract or otherwise) arising out of a Borrower’s or the Administrative Agent’s transmission of Borrowers’ Materials through the
Internet, except to the extent that such losses, claims, damages, liabilities or expenses are 

  

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determined by a court of competent jurisdiction by a final and nonappealable judgment to have resulted from the gross negligence or willful misconduct of
such Agent Party; provided, however, that in no event shall any Agent Party have any liability to either Borrower, any Lender, the L/C Issuer or any other Person for indirect, special, incidental, consequential or punitive damages (as
opposed to direct or actual damages). 
 (d)    Change of Address, Etc. Each of the Borrowers, the
Administrative Agent and the L/C Issuer may change its address, telecopier or telephone number for notices and other communications hereunder by notice to the other parties hereto. Each other Lender may change its address, telecopier or telephone
number for notices and other communications hereunder by notice to the Borrowers, the Administrative Agent and the L/C Issuer. In addition, each Lender agrees to notify the Administrative Agent from time to time to ensure that the Administrative
Agent has on record (i) an effective address, contact name, telephone number, telecopier number and electronic mail address to which notices and other communications may be sent and (ii) accurate wire instructions for such Lender.

 (e)    Reliance by Administrative Agent, the L/C Issuer and Lenders. The Administrative Agent,
the L/C Issuer and the Lenders shall be entitled to rely and act, and shall be fully protected in relying and acting, upon any notice (including any telephonic Revolving Loan Notice) writing, letter, certificate, consent, investment, statement, fax
or affidavit believed in good faith by the Administrative Agent purportedly to have been signed, sent or made by the Person in question, including without limitation any telephonic or oral statement by such Person, and, with respect to legal
matters, upon the opinion of counsel selected by the Administrative Agent. Each Borrower shall indemnify the Administrative Agent, the L/C Issuer, each Lender and the Related Parties of each of them from all losses, costs, expenses and liabilities
resulting from the reliance by such Person on each notice purportedly given by or on behalf of such Borrower. All telephonic notices to and other telephonic communications with the Administrative Agent may be recorded by the Administrative Agent,
and each of the parties hereto hereby consents to such recording. 
 10.03    No Waiver; Cumulative
Remedies.  No failure by any Lender or the Administrative Agent to exercise, and no delay by any such Person in exercising, any right, remedy, power or privilege hereunder shall operate as a waiver thereof; nor shall any single or
partial exercise of any right, remedy, power or privilege hereunder preclude any other or further exercise thereof or the exercise of any other right, remedy, power or privilege. The rights, remedies, powers and privileges herein provided are
cumulative and not exclusive of any rights, remedies, powers and privileges provided by law. 
 10.04    Expenses; Indemnity; Damage Waiver. 
 (a)    Costs and
Expenses. The Borrowers shall pay (i) all reasonable out-of-pocket expenses incurred by the Administrative Agent and its Affiliates (including the reasonable fees, charges and disbursements of counsel for the Administrative Agent), in
connection with the syndication of the credit facilities provided for herein, the preparation, negotiation, execution, delivery and administration of this Agreement and the other Loan Documents or any amendments, modifications or waivers of the
provisions hereof or thereof (whether or not the transactions contemplated hereby or thereby shall be consummated), all reasonable out-of-pocket 

  

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expenses incurred by the L/C Issuer in connection with the issuance, amendment, renewal or extension of any Letter of Credit or any demand for payment
therefor, and (iii) all out-of-pocket expenses incurred by the Administrative Agent, any Lender or the L/C Issuer (including the fees, charges and disbursements of any counsel for the Administrative Agent, any Lender or the L/C Issuer), and
shall pay all fees and time charges for attorneys who may be employees of the Administrative Agent or any Lender, in connection with the enforcement or protection of its rights (A) in connection with this Agreement and the other Loan Documents,
including its rights under this Section, or (B) in connection with the Loans made or Letter of Credit issued hereunder, including all such out-of-pocket expenses incurred during any workout, restructuring or negotiations in respect of such
Loans. 
 (b)    Indemnification by the Borrowers.  The Borrowers shall indemnify the
Administrative Agent (and any sub-agent thereof) and each Lender and the L/C Issuer, and each Related Party of any of the foregoing Persons (each such Person being called an “Indemnitee”) against, and hold each Indemnitee harmless
from, any and all losses, claims, damages, liabilities and related expenses (including the reasonable fees, charges and disbursements of any counsel for any Indemnitee), and shall indemnify and hold harmless each Indemnitee from all fees and time
charges and disbursements for attorneys who may be employees of any Indemnitee, incurred by any Indemnitee or asserted against any Indemnitee by any third party or by a Borrower arising out of, in connection with, or as a result of (i) the
execution or delivery of this Agreement, any other Loan Document or any agreement or instrument contemplated hereby or thereby, the performance by the parties hereto of their respective obligations hereunder or thereunder or the consummation of the
transactions contemplated hereby or thereby, or in the case of the Administrative Agent (and any sub-agent thereof) and its Related Parties only, the administration of this Agreement and the other Loan Documents, (ii) any Loan or Letter of
Credit or the use or proposed use of the proceeds therefrom (including any refusal by the L/C Issuer to honor a demand for payment under a Letter of Credit if the documents presented in connection with such demand do not strictly comply with the
terms of such Letter of Credit), (iii) any actual or alleged presence or release of Hazardous Materials on or from any property owned or operated by AFG or any of its Subsidiaries, or any Environmental Liability related in any way to AFG or any
of its Subsidiaries, or (iv) any actual or prospective claim, litigation, investigation or proceeding relating to any of the foregoing, whether based on contract, tort or any other theory, whether brought by a third party or by a Borrower, and
regardless of whether any Indemnitee is a party thereto, in all cases, whether or not caused by or arising, in whole or in part, out of the comparative, contributory or sole negligence of the Indemnitee; provided that such indemnity
shall not, as to any Indemnitee, be available to the extent that such losses, claims, damages, liabilities or related expenses (x) are determined by a court of competent jurisdiction by final and nonappealable judgment to have resulted from the
gross negligence or willful misconduct of such Indemnitee or (y) result from a claim brought by a Borrower against an Indemnitee for breach in bad faith of such Indemnitee’s obligations hereunder or under any other Loan Document, if such
Borrower has obtained a final and nonappealable judgment in its favor on such claim as determined by a court of competent jurisdiction. 
 (c)    Reimbursement by Lenders.  To the extent that either Borrower for any reason fails to indefeasibly pay any amount required under subsection (a) or (b) of this
Section to be paid by it to the Administrative Agent (or any sub-agent thereof), the L/C Issuer or any Related 

  

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Party of any of the foregoing, each Lender severally agrees to pay to the Administrative Agent (or any such sub-agent), the L/C Issuer or such Related Party,
as the case may be, such Lender’s Applicable Percentage (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought) of such unpaid amount (exclusive of any principal or interest with respect to Loans owed
to the Administrative Agent in its capacity as a Lender), provided that the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Administrative
Agent (or any such subagent) or the L/C Issuer in its capacity as such, or against any Related Party of any of the foregoing acting for the Administrative Agent (or any such sub-agent) or L/C Issuer in connection with such capacity. The obligations
of the Lenders under this subsection (c) are subject to the provisions of Section 2.11(d). 
 (d)    Waiver of Consequential Damages, Etc.  To the fullest extent permitted by applicable law, the Borrowers shall not assert, and hereby waive, any claim against any Indemnitee, on any theory of
liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document or any agreement or instrument contemplated
hereby, the transactions contemplated hereby or thereby, any Loan or Letter of Credit or the use of the proceeds thereof. No Indemnitee referred to in subsection (b) above shall be liable for any damages arising from the use by unintended
recipients of any information or other materials distributed to such intended recipients by such Indemnitee through telecommunications, electronic or other information transmission systems in connection with this Agreement or the other Loan
Documents or the transactions contemplated hereby or thereby. 
 (e)    Payments.  All
amounts due under this Section shall be payable not later than ten Business Days after demand therefor. 
 (f)    Survival.  The agreements in this Section shall survive the resignation of the Administrative Agent and the L/C Issuer, the replacement of any Lender, the termination of the Aggregate Commitments
and the repayment, satisfaction or discharge of all the other Obligations. 
 10.05    Payments Set
Aside.  To the extent that any payment by or on behalf of a Borrower is made to the Administrative Agent, the L/C Issuer or any Lender, or the Administrative Agent, the L/C Issuer or any Lender exercises its right of setoff, and such
payment or the proceeds of such setoff or any part thereof is subsequently invalidated, declared to be fraudulent or preferential, set aside or required (including pursuant to any settlement entered into by the Administrative Agent, the L/C Issuer
or such Lender in its discretion) to be repaid to a trustee, receiver or any other party, in connection with any proceeding under any Debtor Relief Law or otherwise, then (a) to the extent of such recovery, the obligation or part thereof
originally intended to be satisfied shall be revived and continued in full force and effect as if such payment had not been made or such setoff had not occurred, and (b) each Lender and the L/C Issuer severally agrees to pay to the
Administrative Agent upon demand its applicable share (without duplication) of any amount so recovered from or repaid by the Administrative Agent, plus interest thereon from the date of such demand to the date such payment is made at a rate per
annum equal to the Federal Funds Rate from time to time in effect. The obligations of the Lenders and the L/C Issuer under clause (b) of the preceding sentence shall survive the payment in full of the Obligations and the termination of this
Agreement.  
  

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 10.06    Successors and Assigns. 
 (a)    Successors and Assigns Generally.  The provisions of this Agreement shall be binding upon and
inure to the benefit of the parties hereto and their respective successors and assigns permitted hereby, except that neither Borrower may assign or otherwise transfer any of its rights or obligations hereunder without the prior written consent of
the Administrative Agent and each Lender and no Lender may assign or otherwise transfer any of its rights or obligations hereunder except (i) to an assignee or Qualified Institutional Buyer in accordance with the provisions of subsection
(b) of this Section, (ii) by way of participation in accordance with the provisions of subsection (d) of this Section, or (iii) by way of pledge or assignment of a security interest subject to the restrictions of subsection
(f) of this Section (and any other attempted assignment or transfer by any party hereto shall be null and void). Nothing in this Agreement, expressed or implied, shall be construed to confer upon any Person (other than the parties hereto, their
respective successors and assigns permitted hereby, Participants to the extent provided in subsection (d) of this Section and, to the extent expressly contemplated hereby, the Related Parties of each of the Administrative Agent, the L/C Issuer
and the Lenders) any legal or equitable right, remedy or claim under or by reason of this Agreement. 
 (b)    Assignments by Lenders.  Any Lender may at any time assign to one or more assignees or a Qualified Institutional Buyer all or a portion of its rights and obligations under this Agreement
(including all or a portion of its Commitment and the Loans (including for purposes of this subsection (b), participations in L/C Obligations)) at the time owing to it); provided that any such assignment shall be subject to the following
conditions: 
 (i)    Minimum Amounts. 
 (A)    except in the case of an assignment of the entire remaining amount of the assigning
Lender’s Commitment and the Loans at the time owing to it or in the case of an assignment to a Lender or an Affiliate of a Lender or an Approved Fund, no minimum amount need be assigned; and 
 (B)    in any case not described in subsection (b)(i)(A) of this Section, the aggregate amount of the
Commitment (which for this purpose includes Loans outstanding thereunder) or, if the Commitment is not then in effect, the principal outstanding balance of the Loans of the assigning Lender subject to each such assignment, determined as of the date
the Assignment and Assumption with respect to such assignment is delivered to the Administrative Agent or, if “Trade Date” is specified in the Assignment and Assumption, as of the Trade Date, shall not be less than $5,000,000, in
additional $1,000,000 increments, unless each of the Administrative Agent and, so long as no Event of Default has occurred and is continuing, AFG otherwise consents (each such consent not to be unreasonably withheld or delayed); provided,
however, that concurrent assignments to members of an Assignee Group and concurrent assignments from members of an Assignee Group to a single assignee (or to an assignee and members of its Assignee Group) will be treated as a single
assignment for purposes of determining whether such minimum amount has been met; 
  

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 (ii)    Proportionate Amounts.  Each
partial assignment shall be made as an assignment of a proportionate part of all the assigning Lender’s rights and obligations under this Agreement with respect to the Loans or the Commitment assigned; 
 (iii)    Required Consents.  No consent shall be required for any assignment except
to the extent required by subsections (b)(i)(B) of this Section and, in addition: 
 (A)    the consent of AFG (such consent not to be unreasonably withheld or delayed) shall be required unless (1) an Event of Default has occurred and is continuing at the time of such assignment or (2) such
assignment is to a Lender, an Affiliate of a Lender or an Approved Fund; 
 (B)    the
consent of the Administrative Agent (such consent not to be unreasonably withheld or delayed) shall be required if such assignment is to a Person that is not a Lender, an Affiliate of such Lender or an Approved Fund with respect to such Lender; and

 (C)    the consent of the L/C Issuer (such consent not to be unreasonably withheld or
delayed) shall be required for any assignment that increases the obligation of the assignee to participate in exposure under one or more Letters of Credit (whether or not then outstanding). 
 (iv)    Assignment and Assumption.  The parties to each assignment shall execute and
deliver to the Administrative Agent an Assignment and Assumption, together with a processing and recordation fee in the amount, if any, required as set forth on Schedule 10.06; provided, however, that the Administrative Agent
may, in its sole discretion, elect to waive such processing and recordation fee in the case of any assignment. The assignee or Qualified Institutional Buyer, if it shall not be a Lender or an Affiliate of a Lender, shall deliver to the
Administrative Agent an Administrative Questionnaire. 
 (v)    No Assignment to
Borrowers.  No such assignment shall be made to a Borrower or any of a Borrower’s Affiliates or Subsidiaries. 
 (vi)    No Assignment to Natural Persons.  No such assignment shall be made to a natural person. 
 Subject to acceptance and recording thereof by the Administrative Agent pursuant to subsection (c) of this Section, from and after the effective date specified in each Assignment and Assumption, the assignee or
Qualified Institutional Buyer thereunder shall be a party to this Agreement and, to the extent of the interest assigned by such Assignment and Assumption, have the rights and obligations of a Lender under this Agreement, and the assigning Lender
thereunder shall, to the extent of the interest assigned by such Assignment and Assumption, be released from its obligations under this Agreement (and, in the case of an Assignment and Assumption covering all of the assigning Lender’s rights
and obligations under this Agreement, such Lender 

  

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shall cease to be a party hereto) but shall continue to be entitled to the benefits of Sections 3.01, 3.04, 3.05, and 10.04 with
respect to facts and circumstances occurring prior to the effective date of such assignment. Upon request, the Borrowers (at no expense to the Borrowers) shall execute and deliver a Note to the assignee Lender. Any assignment or transfer by a Lender
of rights or obligations under this Agreement that does not comply with this subsection shall be treated for purposes of this Agreement as a sale by such Lender of a participation in such rights and obligations in accordance with subsection
(d) of this Section. 
 (c)    Register.  The Administrative Agent, acting solely
for this purpose as an agent of the Borrower, shall maintain at the Administrative Agent’s Office a copy of each Assignment and Assumption delivered to it and a register for the recordation of the names and addresses of the Lenders, and the
Commitments of, and principal amounts of the Loans and L/C Obligations owing to, each Lender pursuant to the terms hereof from time to time (the “Register”). The entries in the Register shall be conclusive, and the Borrowers, the
Administrative Agent and the Lenders may treat each Person whose name is recorded in the Register pursuant to the terms hereof as a Lender hereunder for all purposes of this Agreement, notwithstanding notice to the contrary. The Register shall be
available for inspection by each of the Borrowers and any Lender at any reasonable time and from time to time upon reasonable prior notice. In addition, at any time that a request for a consent for a material or substantive change to the Loan
Documents is pending, any Lender wishing to consult with other Lenders in connection therewith may request and receive from the Administrative Agent a copy of the Register. 
 (d)    Participations.  Any Lender may at any time, without the consent of, or notice to, either Borrower or the Administrative Agent, sell participations to
any Person (other than a natural person or a Borrower or any of a Borrower’s Affiliates or Subsidiaries) (each, a “Participant”) in all or a portion of such Lender’s rights and/or obligations under this Agreement
(including all or a portion of its Commitment and/or the Loans (including such Lender’s participation in L/C Obligations) owing to it); provided that (i) such Lender’s obligations under this Agreement shall remain unchanged,
(ii) such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations, (iii) the Borrowers, the Administrative Agent, the Lenders and the L/C Issuer shall continue to deal solely and directly
with such Lender in connection with such Lender’s rights and obligations under this Agreement, (iv) the amount of the participation shall not be less than $5,000,000 or increments of $1,000,000 thereafter, (v) the participations may
be sold only to Qualified Institutional Buyers, (vi) the participants may not sell additional participations and (vii) the Lender shall provide notice of such participation to the Administrative Agent and the Borrowers. 
 Any agreement or instrument pursuant to which a Lender sells such a participation shall provide that such Lender shall retain the sole
right to enforce this Agreement and to approve any amendment, modification or waiver of any provision of this Agreement; provided that such agreement or instrument may provide that such Lender will not, without the consent of the Participant,
agree to any amendment, waiver or other modification described in the first proviso to Section 10.01 that affects such Participant. Subject to subsection (e) of this Section, the Borrowers agree that each Participant shall be
entitled to the benefits of Sections 3.01, 3.04 and 3.05 to the same extent as if it were a Lender and had acquired its interest by assignment pursuant to subsection (b) of this Section. To the extent permitted by law, each
Participant also shall be entitled to the benefits of Section 10.08 as though it were a Lender, provided such Participant agrees to be subject to Section 2.11 as though it were a Lender. 
  

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 (e)    Limitations upon Participant Rights.  A
Participant shall not be entitled to receive any greater payment under Section 3.01 or 3.04 than the applicable Lender would have been entitled to receive with respect to the participation sold to such Participant, unless the sale
of the participation to such Participant is made with AFG’s prior written consent. A Participant that would be a Foreign Lender if it were a Lender shall not be entitled to the benefits of Section 3.01 unless AFG is notified of the
participation sold to such Participant and such Participant agrees, for the benefit of the Borrowers, to comply with Section 3.01(e) as though it were a Lender. 
 (f)    Certain Pledges.  Any Lender may at any time pledge or assign a security interest in all or any portion of its rights under this Agreement (including
under its Note, if any) to secure obligations of such Lender, including any pledge or assignment to secure obligations to a Federal Reserve Bank; provided that no such pledge or assignment shall release such Lender from any of its obligations
hereunder or substitute any such pledgee or assignee for such Lender as a party hereto. 
 (g)    Electronic Execution of Assignments.  The words “execution,” “signed,” “signature,” and words of like import in any Assignment and Assumption shall be deemed to
include electronic signatures or the keeping of records in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature or the use of a paper-based recordkeeping system, as the case
may be, to the extent and as provided for in any applicable law, including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records Act, or any other similar state laws based on the
Uniform Electronic Transactions Act. 
 (h)    Resignation as L/C Issuer after
Assignment.  Notwithstanding anything to the contrary contained herein, if at any time Bank of America assigns all of its Commitment and Loans pursuant to subsection (b) above, Bank of America may, upon 30 days’ notice to the
Borrowers and the Lenders, resign as L/C Issuer. In the event of any such resignation as L/C Issuer, AFG shall be entitled to appoint from among the Lenders a successor L/C Issuer hereunder; provided, however, that no failure by AFG to
appoint any such successor shall affect the resignation of Bank of America as L/C Issuer. If Bank of America resigns as L/C Issuer, it shall retain all the rights, powers, privileges and duties of the L/C Issuer hereunder with respect to all Letters
of Credit outstanding as of the effective date of its resignation as L/C Issuer and all L/C Obligations with respect thereto (including the right to require the Lenders to make Base Rate Loans or fund risk participations in Unreimbursed Amounts
pursuant to Section 2.03(c)). Upon the appointment of a successor L/C Issuer, (a) such successor shall succeed to and become vested with all of the rights, powers, privileges and duties of the retiring L/C Issuer, and (b) the
successor L/C Issuer shall issue letters of credit in substitution for the Letters of Credit, if any, outstanding at the time of such succession or make other arrangements satisfactory to Bank of America to effectively assume the obligations of Bank
of America with respect to such Letters of Credit. 
 10.07    Treatment of Certain Information;
Confidentiality.  Each of the Administrative Agent, the Lenders and the L/C Issuer agrees to maintain the confidentiality of 

  

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the Information (as defined below), except that Information may be disclosed (a) to its Affiliates and to its and its Affiliates’ respective
partners, directors, officers, employees, agents, advisors and representatives who are, or are expected to be, engaged in evaluating, approving, structuring or administering the credit facility provided herein (it being understood that the Persons
to whom such disclosure is made will be informed of the confidential nature of such Information and instructed to keep such Information confidential), (b) to the extent requested by any regulatory authority purporting to have jurisdiction over
it (including any self-regulatory authority, such as the NAIC), (c) to the extent required by applicable laws or regulations or by any subpoena or similar legal process, (d) to any other party hereto, (e) in connection with the
exercise of any remedies hereunder or under any other Loan Document or any action or proceeding relating to this Agreement or any other Loan Document or the enforcement of rights hereunder or thereunder, (f) subject to an agreement containing
provisions substantially the same as those of this Section, to (i) any assignee of or Participant in, or any prospective assignee of or Participant in, any of its rights or obligations under this Agreement or (ii) any actual or prospective
counterparty (or its advisors) to any swap or derivative transaction relating to the applicable Borrower and its obligations, (g) with the consent of AFG or (h) to the extent such Information (x) becomes publicly available other than
as a result of a breach of this Section or (y) becomes available to the Administrative Agent, any Lender or any of their respective Affiliates on a nonconfidential basis from a source other than AFG. 
 For purposes of this Section, “Information” means all information received from AFG or any Subsidiary relating to AFG or
any Subsidiary or any of their respective businesses, other than any such information that is available to the Administrative Agent, any Lender or the L/C Issuer on a nonconfidential basis prior to disclosure by AFG or any Subsidiary,
provided that, in the case of information received from AFG or any Subsidiary after the date hereof, such information is clearly identified at the time of delivery as confidential. Any Person required to maintain the confidentiality of
Information as provided in this Section shall be considered to have complied with its obligation to do so if such Person has exercised the same degree of care to maintain the confidentiality of such Information as such Person would accord to its own
confidential information. 
 10.08    Right of Setoff.  If an Event of Default shall
have occurred and be continuing, each Lender, the L/C Issuer and each of their respective Affiliates is hereby authorized at any time and from time to time, to the fullest extent permitted by applicable law, to set off and apply any and all deposits
(general or special, time or demand, provisional or final, in whatever currency) at any time held and other obligations (in whatever currency) at any time owing by such Lender, the L/C Issuer or any such Affiliate to or for the credit or the account
of a Borrower against any and all of the obligations of such Borrower now or hereafter existing under this Agreement or any other Loan Document to such Lender or the L/C Issuer, irrespective of whether or not such Lender or the L/C Issuer shall have
made any demand under this Agreement or any other Loan Document and although such obligations of a Borrower may be contingent or unmatured or are owed to a branch or office of such Lender or the L/C Issuer different from the branch or office holding
such deposit or obligated on such indebtedness. The rights of each Lender, the L/C Issuer and their respective Affiliates under this Section are in addition to other rights and remedies (including other rights of setoff) that such Lender, the L/C
Issuer or their respective Affiliates may have. 
  

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 10.09    Interest Rate Limitation.  Notwithstanding
anything to the contrary contained in any Loan Document, the interest paid or agreed to be paid under the Loan Documents shall not exceed the maximum rate of non-usurious interest permitted by applicable Law (the “Maximum Rate”). If
the Administrative Agent or any Lender shall receive interest in an amount that exceeds the Maximum Rate, the excess interest shall be applied to the principal of the Loans or, if it exceeds such unpaid principal, refunded to the applicable
Borrower. In determining whether the interest contracted for, charged, or received by the Administrative Agent or a Lender exceeds the Maximum Rate, such Person may, to the extent permitted by applicable Law, (a) characterize any payment that
is not principal as an expense, fee, or premium rather than interest, (b) exclude voluntary prepayments and the effects thereof, and (c) amortize, prorate, allocate, and spread in equal or unequal parts the total amount of interest
throughout the contemplated term of the Obligations hereunder. 
 10.10    Counterparts; Integration;
Effectiveness.  This Agreement may be executed in counterparts (and by different parties hereto in different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single
contract. This Agreement and the other Loan Documents constitute the entire contract among the parties relating to the subject matter hereof and supersede any and all previous agreements and understandings, oral or written, relating to the subject
matter hereof. Except as provided in Section 4.01, this Agreement shall become effective when it shall have been executed by the Administrative Agent and the Administrative Agent shall have received counterparts hereof that, when taken
together, bear the signatures of each of the other parties hereto. Delivery of an executed counterpart of a signature page of this Agreement by telecopy shall be effective as delivery of a manually executed counterpart of this Agreement. 

10.11    Survival of Representations and Warranties.  All representations and warranties made
hereunder and in any other Loan Document or other document delivered pursuant hereto or thereto or in connection herewith or therewith shall survive the execution and delivery hereof and thereof. Such representations and warranties have been or will
be relied upon by the Administrative Agent and each Lender, regardless of any investigation made by the Administrative Agent or any Lender or on their behalf and notwithstanding that the Administrative Agent or any Lender may have had notice or
knowledge of any Default at the time of any Credit Extension, and shall continue in full force and effect as long as any Loan or any other Obligation hereunder shall remain unpaid or unsatisfied or any Letter of Credit shall remain outstanding.

 10.12    Severability.  If any provision of this Agreement or the other Loan
Documents is held to be illegal, invalid or unenforceable, (a) the legality, validity and enforceability of the remaining provisions of this Agreement and the other Loan Documents shall not be affected or impaired thereby and (b) the
parties shall endeavor in good faith negotiations to replace the illegal, invalid or unenforceable provisions with valid provisions the economic effect of which comes as close as possible to that of the illegal, invalid or unenforceable provisions.
The invalidity of a provision in a particular jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. 
 10.13    Replacement of Lenders.  If any Lender requests compensation under Section 3.04, or if a Borrower is required to pay any additional amount to any Lender or any

  

 81 

 
Governmental Authority for the account of any Lender pursuant to Section 3.01, or if any Lender is a Defaulting Lender or if any other
circumstance exists hereunder that gives the Borrower the right to replace a Lender as a party hereto, then AFG may, at its sole expense and effort, upon notice to such Lender and the Administrative Agent, require such Lender to assign and delegate,
without recourse (in accordance with and subject to the restrictions contained in, and consents required by, Section 10.06), all of its interests, rights and obligations under this Agreement and the related Loan Documents to an assignee
that shall assume such obligations (which assignee may be another Lender, if a Lender accepts such assignment), provided that: 
 (a)    AFG shall have paid to the Administrative Agent the assignment fee specified in Section 10.06(b); 
 (b)    such Lender shall have received payment of an amount equal to the outstanding principal of its Loans and L/C Advances, accrued interest thereon, accrued fees and all
other amounts payable to it hereunder and under the other Loan Documents (including any amounts under Section 3.05) from the assignee (to the extent of such outstanding principal and accrued interest and fees) or AFG (in the case of all
other amounts); 
 (c)    in the case of any such assignment resulting from a claim for compensation
under Section 3.04 or payments required to be made pursuant to Section 3.01, such assignment will result in a reduction in such compensation or payments thereafter; and 
 (d)    such assignment does not conflict with applicable Laws. 
 A Lender shall not be required to make any such assignment or delegation if, prior thereto, as a result of a waiver by such Lender or
otherwise, the circumstances entitling AFG to require such assignment and delegation cease to apply. 
 10.14    Governing Law; Jurisdiction; Etc. 
 (a)    GOVERNING
LAW. THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK 
 (b)    SUBMISSION TO JURISDICTION. EACH BORROWER IRREVOCABLY AND UNCONDITIONALLY SUBMITS, FOR ITSELF AND ITS PROPERTY, TO THE NONEXCLUSIVE JURISDICTION OF THE COURTS OF THE STATE OF NEW YORK SITTING IN NEW YORK
COUNTY AND OF THE UNITED STATES DISTRICT COURT OF THE SOUTHERN DISTRICT OF NEW YORK, AND ANY APPELLATE COURT FROM ANY THEREOF, IN ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT, OR FOR RECOGNITION OR
ENFORCEMENT OF ANY JUDGMENT, AND EACH OF THE PARTIES HERETO IRREVOCABLY AND UNCONDITIONALLY AGREES THAT ALL CLAIMS IN RESPECT OF ANY SUCH ACTION OR PROCEEDING MAY BE HEARD AND DETERMINED IN SUCH NEW YORK STATE COURT OR, TO THE FULLEST EXTENT
PERMITTED BY APPLICABLE LAW, IN SUCH FEDERAL COURT. EACH OF THE PARTIES HERETO AGREES THAT A FINAL JUDGMENT IN ANY SUCH ACTION OR PROCEEDING SHALL BE CONCLUSIVE AND MAY BE ENFORCED IN OTHER JURISDICTIONS BY SUIT ON THE JUDGMENT OR IN ANY OTHER
MANNER PROVIDED BY LAW. NOTHING IN 

  

 82 

 
THIS AGREEMENT OR IN ANY OTHER LOAN DOCUMENT SHALL AFFECT ANY RIGHT THAT THE ADMINISTRATIVE AGENT, ANY LENDER OR THE L/C ISSUER MAY OTHERWISE HAVE TO BRING
ANY ACTION OR PROCEEDING RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT AGAINST EITHER BORROWER OR ITS PROPERTIES IN THE COURTS OF ANY JURISDICTION. 
 (c)    WAIVER OF VENUE.  EACH BORROWER IRREVOCABLY AND UNCONDITIONALLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY OBJECTION THAT IT MAY
NOW OR HEREAFTER HAVE TO THE LAYING OF VENUE OF ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT IN ANY COURT REFERRED TO IN PARAGRAPH (B) OF THIS SECTION. EACH OF THE PARTIES HERETO HEREBY
IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, THE DEFENSE OF AN INCONVENIENT FORUM TO THE MAINTENANCE OF SUCH ACTION OR PROCEEDING IN ANY SUCH COURT. 
 (d)    SERVICE OF PROCESS.  EACH PARTY HERETO IRREVOCABLY CONSENTS TO SERVICE OF PROCESS IN THE MANNER PROVIDED FOR NOTICES IN SECTION 10.02. NOTHING
IN THIS AGREEMENT WILL AFFECT THE RIGHT OF ANY PARTY HERETO TO SERVE PROCESS IN ANY OTHER MANNER PERMITTED BY APPLICABLE LAW. 
 10.15    Waiver of Jury Trial.  EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY
OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY). EACH PARTY HERETO (A) CERTIFIES THAT NO
REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PERSON HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PERSON WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES
HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION. 
 10.16    No Advisory or Fiduciary Responsibility.  In connection with all aspects of each transaction contemplated hereby, each Borrower acknowledges and
agrees that: (a) the credit facility provided for hereunder and any related arranging or other services in connection therewith (including in connection with any amendment, waiver or other modification hereof or of any other Loan Document) are
an arm’s-length commercial transaction between each Borrower and its Affiliates, on the one hand, and the Administrative Agent and the Arranger, on the other hand, and each Borrower is capable of evaluating and understanding and understands and
accepts the terms, risks and conditions of the transactions contemplated hereby and by the other Loan Documents (including any amendment, waiver or other modification hereof or thereof); (b) in connection with the process leading to such
transaction, the Administrative Agent 

  

 83 

 
and the Arranger each is and has been acting solely as a principal and is not the financial advisor, agent or fiduciary, for each Borrower or any of its
Affiliates, or, to its knowledge, stockholders, creditors or employees or any other Person; (c) neither the Administrative Agent nor the Arranger has assumed or will assume an advisory, agency or fiduciary responsibility in favor of either
Borrower with respect to any of the transactions contemplated hereby or the process leading thereto, including with respect to any amendment, waiver or other modification hereof or of any other Loan Document (irrespective of whether the
Administrative Agent or the Arranger has advised or is currently advising either Borrower or any of its Affiliates on other matters) and neither the Administrative Agent nor the Arranger has any obligation to either Borrower or any of its Affiliates
with respect to the transactions contemplated hereby except those obligations expressly set forth herein and in the other Loan Documents; (iv) the Administrative Agent and the Arranger and their respective Affiliates may be engaged in a broad
range of transactions that involve interests that differ from those of each Borrower and its Affiliates, and neither the Administrative Agent nor the Arranger has any obligation to disclose any of such interest by virtue of any advisory, agency or
fiduciary relationship and (v) the Administrative Agent and the Arranger have not provided and will not provide any legal, accounting, regulatory or tax advice with respect to any of the transactions contemplated hereby (including any
amendment, waiver or other modification hereof or of any other Loan Document) and each Borrower has consulted its own legal, accounting, regulatory an tax advisors to the extent it has deemed appropriate. Each Borrower hereby waives and releases, to
the fullest extent permitted by Law, any claims that it may have against the Administrative Agent and the Arranger with respect to any breach or alleged breach of agency or fiduciary duty. 
 10.17    USA PATRIOT Act Notice.  Each Lender that is subject to the Act (as hereinafter defined)
and the Administrative Agent (for itself and not on behalf of any Lender) hereby notifies the Borrower that pursuant to the requirements of the USA PATRIOT Act (Title III of Pub. L. 107-56 (signed into law October 26, 2001)) (the
“Act”), it is required to obtain, verify and record information that identifies the Borrowers, which information includes the name and address of the Borrowers and other information that will allow such Lender or the Administrative
Agent, as applicable, to identify the Borrower in accordance with the Act. 
 10.18    Entire
Agreement.  THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS REPRESENT THE FINAL AGREEMENT AMONG THE PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS, OR SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES. THERE ARE NO UNWRITTEN
ORAL AGREEMENTS AMONG THE PARTIES. 
  
 REMAINDER OF PAGE LEFT INTENTIONALLY BLANK 
  

  

 84 

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

					
	 AMERICAN FINANCIAL GROUP, INC.

		
	 By:
	 	  

		 	 Name:
	 	  

		 	 Title:
	 	  

	
	 AAG HOLDING COMPANY, INC.

		
	 By:
	 	  

		 	 Name:
	 	  

		 	 Title:
	 	  

 Signature Page to Credit Agreement 

					
	 BANK OF AMERICA, N.A., as
 Administrative Agent

		
	 By:
	 	  

		 	 Name:
	 	  

		 	 Title:
	 	  

 Signature Page to Credit Agreement 

					
	 BANK OF AMERICA, N.A., as a Lender

		
	 By:
	 	  

		 	 Name:
	 	  

		 	 Title:
	 	  

 Signature Page to Credit Agreement 

					
	 NATIONAL CITY BANK, as Co-Syndication
 Agent and as a Lender

		
	 By:
	 	  

		 	 Name:
	 	  

		 	 Title:
	 	  

 Signature Page to Credit Agreement 

					
	 KEYBANK NATIONAL ASSOCIATION, as
 Co-Syndication Agent and as a Lender

		
	 By:
	 	  

		 	 Name:
	 	  

		 	 Title:
	 	  

 Signature Page to Credit Agreement 

					
	 US BANK, N.A., as Documentation Agent and as a Lender

		
	 By:
	 	  

		 	 Name:
	 	  

		 	 Title:
	 	  

 Signature Page to Credit Agreement 

					
	 WACHOVIA BANK, NATIONAL
 ASSOCIATION, as a Lender

		
	 By:
	 	  

		 	 Name:
	 	  

		 	 Title:
	 	  

 Signature Page to Credit Agreement 

					
	 THE HUNTINGTON NATIONAL BANK, as a
 Lender

		
	 By:
	 	  

		 	 Name:
	 	  

		 	 Title:
	 	  

 Signature Page to Credit Agreement 

					
	 MERRILL LYNCH BANK USA, as a Lender

		
	 By:
	 	  

		 	 Name:
	 	  

		 	 Title:
	 	  

 Signature Page to Credit Agreement 

					
	 UBS LOAN FINANCE LLC, as a Lender

		
	 By:
	 	  

		 	 Name:
	 	  

		 	 Title:
	 	  

		
	 By:
	 	  

		 	 Name:
	 	  

		 	 Title:
	 	  

 Signature Page to Credit Agreement 

					
	 THE BANK OF NEW YORK, as a Lender

		
	 By:
	 	  

		 	 Name:
	 	  

		 	 Title:
	 	  

 Signature Page to Credit Agreement 

					
	 LASALLE BANK NATIONAL ASSOCIATION,
 as a Lender

		
	 By:
	 	  

		 	 Name:
	 	  

		 	 Title:
	 	  

 Signature Page to Credit Agreement 

					
	 CREDIT SUISSE FIRST BOSTON, acting
 through its Cayman Islands Branch, as a Lender

		
	 By:
	 	  

		 	 Name:
	 	  

		 	 Title:
	 	  

		
	 By:
	 	  

		 	 Name:
	 	  

		 	 Title:
	 	  

 Signature Page to Credit Agreement 

					
	 PNC BANK, NATIONAL ASSOCIATION, as a Lender

		
	 By:
	 	  

		 	 Name:
	 	  

		 	 Title:
	 	  

 Signature Page to Credit Agreement 

					
	 REGIONS BANK, as a Lender

		
	 By:
	 	  

		 	 Name:
	 	  

		 	 Title:
	 	  

 Signature Page to Credit Agreement 

					
	 JPMORGAN CHASE BANK, as a Lender

		
	 By:
	 	  

		 	 Name:
	 	  

		 	 Title:
	 	  

 Signature Page to Credit Agreement 

					
	 NORTHERN TRUST BANK, as a Lender

		
	 By:
	 	  

		 	 Name:
	 	  

		 	 Title:
	 	  

 Signature Page to Credit Agreement 

 NOTE 
  

			
	 $ 72,500,000.00
	 	March 29, 2006

 FOR VALUE RECEIVED, the undersigned AMERICAN FINANCIAL GROUP, INC., hereby
promises to pay to BANK OF AMERICA, N.A. or registered assigns (the “Lender”), in accordance with the provisions of the Agreement (as hereinafter defined), the principal amount of SEVENTY-TWO MILLION FIVE HUNDRED THOUSAND AND NO/100
DOLLARS ($72,500,000.00) or such lesser principal amount of Loans (as defined in such Agreement) due and payable by American Financial Group, Inc. to the Lender on the Maturity Date under that certain Credit Agreement, dated as of March 29,
2006 (as amended, restated, extended, supplemented or otherwise modified in writing from time to time, the “Agreement;” the terms defined therein being used herein as therein defined), among American Financial Group, Inc., AAG
Holding Company, Inc., the Lenders from time to time party thereto, and Bank of America, N.A., as Administrative Agent. 
 American Financial Group, Inc. promises to pay interest on the unpaid principal amount of each Loan from the date of such Loan until such principal amount is paid in full, at such interest rates and at such times as provided in the
Agreement. All payments of principal and interest shall be made to the Administrative Agent for the account of the Lender in Dollars in immediately available funds at the Administrative Agent’s Office. If any amount is not paid in full when due
hereunder, such unpaid amount shall bear interest, to be paid upon demand, from the due date thereof until the date of actual payment (and before as well as after judgment) computed at the per annum rate set forth in the Agreement. 
 This Note is one of the Notes referred to in the Agreement, is entitled to the benefits thereof and may be prepaid in whole or in part
subject to the terms and conditions provided therein. Upon the occurrence and continuation of one or more of the Events of Default specified in the Agreement, all amounts then remaining unpaid on this Note shall become, or may be declared to be,
immediately due and payable all as provided in the Agreement. Loans made by the Lender shall be evidenced by one or more loan accounts or records maintained by the Lender in the ordinary course of business. The Lender may also attach schedules to
this Note and endorse thereon the date, amount and maturity of its Loans and payments with respect thereto. 
 American
Financial Group, Inc., for itself, its successors and assigns, hereby waives diligence, presentment, protest and demand and notice of protest, demand, dishonor and non-payment of this Note. 
  

 1 

 THIS NOTE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF
NEW YORK. 
  

							
		 	 AMERICAN FINANCIAL GROUP, INC.

			
		 	 By:
	 	  

		 		 	 Name:
	 	  

		 		 	 Title:
	 	  

  

 2 

 LOANS AND PAYMENTS WITH RESPECT THERETO 
  

													
	Date	 	Type of
Loan Made	 	Amount of
Loan Made	 	End of
Interest
Period	 	Amount of
Principal or
Interest
Paid This
Date	 	Outstanding
Principal
Balance
This Date	 	Notation
Made By
							
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________

  

 3 

 NOTE 
  

			
	 $ 55,000,000.00
	 	March 29, 2006

 FOR VALUE RECEIVED, the undersigned AMERICAN FINANCIAL GROUP, INC., hereby
promises to pay to KEYBANK NATIONAL ASSOCIATION or registered assigns (the “Lender”), in accordance with the provisions of the Agreement (as hereinafter defined), the principal amount of FIFTY-FIVE MILLION AND NO/100 DOLLARS
($55,000,000.00) or such lesser principal amount of Loans (as defined in such Agreement) due and payable by American Financial Group, Inc. to the Lender on the Maturity Date under that certain Credit Agreement, dated as of March 29, 2006 (as
amended, restated, extended, supplemented or otherwise modified in writing from time to time, the “Agreement;” the terms defined therein being used herein as therein defined), among American Financial Group, Inc., AAG Holding
Company, Inc., the Lenders from time to time party thereto, and Bank of America, N.A., as Administrative Agent. 
 American
Financial Group, Inc. promises to pay interest on the unpaid principal amount of each Loan from the date of such Loan until such principal amount is paid in full, at such interest rates and at such times as provided in the Agreement. All payments of
principal and interest shall be made to the Administrative Agent for the account of the Lender in Dollars in immediately available funds at the Administrative Agent’s Office. If any amount is not paid in full when due hereunder, such unpaid
amount shall bear interest, to be paid upon demand, from the due date thereof until the date of actual payment (and before as well as after judgment) computed at the per annum rate set forth in the Agreement. 
 This Note is one of the Notes referred to in the Agreement, is entitled to the benefits thereof and may be prepaid in whole or in part
subject to the terms and conditions provided therein. Upon the occurrence and continuation of one or more of the Events of Default specified in the Agreement, all amounts then remaining unpaid on this Note shall become, or may be declared to be,
immediately due and payable all as provided in the Agreement. Loans made by the Lender shall be evidenced by one or more loan accounts or records maintained by the Lender in the ordinary course of business. The Lender may also attach schedules to
this Note and endorse thereon the date, amount and maturity of its Loans and payments with respect thereto. 
 American
Financial Group, Inc., for itself, its successors and assigns, hereby waives diligence, presentment, protest and demand and notice of protest, demand, dishonor and non-payment of this Note. 
  

 1 

 THIS NOTE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF
NEW YORK. 
  

							
		 	 AMERICAN FINANCIAL GROUP, INC.

			
		 	 By:
	 	  

		 		 	 Name:
	 	  

		 		 	 Title:
	 	  

  

 2 

 LOANS AND PAYMENTS WITH RESPECT THERETO 
  

													
	Date	 	Type of
Loan Made	 	Amount of
Loan Made	 	End of
Interest
Period	 	Amount of
Principal or
Interest
Paid This
Date	 	Outstanding
Principal
Balance
This Date	 	Notation
Made By
							
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________

  

 3 

 NOTE 
  

			
	 $ 55,000,000.00
	 	March 29, 2006

 FOR VALUE RECEIVED, the undersigned AMERICAN FINANCIAL GROUP, INC., hereby
promises to pay to NATIONAL CITY BANK or registered assigns (the “Lender”), in accordance with the provisions of the Agreement (as hereinafter defined), the principal amount of FIFTY-FIVE MILLION AND NO/100 DOLLARS ($55,000,000.00)
or such lesser principal amount of Loans (as defined in such Agreement) due and payable by American Financial Group, Inc. to the Lender on the Maturity Date under that certain Credit Agreement, dated as of March 29, 2006 (as amended, restated,
extended, supplemented or otherwise modified in writing from time to time, the “Agreement;” the terms defined therein being used herein as therein defined), among American Financial Group, Inc., AAG Holding Company, Inc., the
Lenders from time to time party thereto, and Bank of America, N.A., as Administrative Agent. 
 American Financial Group,
Inc. promises to pay interest on the unpaid principal amount of each Loan from the date of such Loan until such principal amount is paid in full, at such interest rates and at such times as provided in the Agreement. All payments of principal and
interest shall be made to the Administrative Agent for the account of the Lender in Dollars in immediately available funds at the Administrative Agent’s Office. If any amount is not paid in full when due hereunder, such unpaid amount shall bear
interest, to be paid upon demand, from the due date thereof until the date of actual payment (and before as well as after judgment) computed at the per annum rate set forth in the Agreement. 
 This Note is one of the Notes referred to in the Agreement, is entitled to the benefits thereof and may be prepaid in whole or in part
subject to the terms and conditions provided therein. Upon the occurrence and continuation of one or more of the Events of Default specified in the Agreement, all amounts then remaining unpaid on this Note shall become, or may be declared to be,
immediately due and payable all as provided in the Agreement. Loans made by the Lender shall be evidenced by one or more loan accounts or records maintained by the Lender in the ordinary course of business. The Lender may also attach schedules to
this Note and endorse thereon the date, amount and maturity of its Loans and payments with respect thereto. 
 American
Financial Group, Inc., for itself, its successors and assigns, hereby waives diligence, presentment, protest and demand and notice of protest, demand, dishonor and non-payment of this Note. 
  

 1 

 THIS NOTE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF
NEW YORK. 
  

							
		 	 AMERICAN FINANCIAL GROUP, INC.

			
		 	 By:
	 	  

		 		 	 Name:
	 	  

		 		 	 Title:
	 	  

  

 2 

 LOANS AND PAYMENTS WITH RESPECT THERETO 
  

													
	Date	 	Type of
Loan Made	 	Amount of
Loan Made	 	End of
Interest
Period	 	Amount of
Principal or
Interest
Paid This
Date	 	Outstanding
Principal
Balance
This Date	 	Notation
Made By
							
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________

  

 3 

 NOTE 
  

			
	 $ 55,000,000.00
	 	March 29, 2006

 FOR VALUE RECEIVED, the undersigned AMERICAN FINANCIAL GROUP, INC., hereby
promises to pay to U. S. BANK, NATIONAL ASSOCIATION or registered assigns (the “Lender”), in accordance with the provisions of the Agreement (as hereinafter defined), the principal amount of FIFTY-FIVE MILLION AND NO/100 DOLLARS
($55,000,000.00) or such lesser principal amount of Loans (as defined in such Agreement) due and payable by American Financial Group, Inc. to the Lender on the Maturity Date under that certain Credit Agreement, dated as of March 29, 2006 (as
amended, restated, extended, supplemented or otherwise modified in writing from time to time, the “Agreement;” the terms defined therein being used herein as therein defined), among American Financial Group, Inc., AAG Holding
Company, Inc., the Lenders from time to time party thereto, and Bank of America, N.A., as Administrative Agent. 
 American
Financial Group, Inc. promises to pay interest on the unpaid principal amount of each Loan from the date of such Loan until such principal amount is paid in full, at such interest rates and at such times as provided in the Agreement. All payments of
principal and interest shall be made to the Administrative Agent for the account of the Lender in Dollars in immediately available funds at the Administrative Agent’s Office. If any amount is not paid in full when due hereunder, such unpaid
amount shall bear interest, to be paid upon demand, from the due date thereof until the date of actual payment (and before as well as after judgment) computed at the per annum rate set forth in the Agreement. 
 This Note is one of the Notes referred to in the Agreement, is entitled to the benefits thereof and may be prepaid in whole or in part
subject to the terms and conditions provided therein. Upon the occurrence and continuation of one or more of the Events of Default specified in the Agreement, all amounts then remaining unpaid on this Note shall become, or may be declared to be,
immediately due and payable all as provided in the Agreement. Loans made by the Lender shall be evidenced by one or more loan accounts or records maintained by the Lender in the ordinary course of business. The Lender may also attach schedules to
this Note and endorse thereon the date, amount and maturity of its Loans and payments with respect thereto. 
 American
Financial Group, Inc., for itself, its successors and assigns, hereby waives diligence, presentment, protest and demand and notice of protest, demand, dishonor and non-payment of this Note. 
  

 1 

 THIS NOTE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF
NEW YORK. 
  

							
		 	 AMERICAN FINANCIAL GROUP, INC.

			
		 	 By:
	 	  

		 		 	 Name:
	 	  

		 		 	 Title:
	 	  

  

 2 

 LOANS AND PAYMENTS WITH RESPECT THERETO 
  

													
	Date	 	Type of
Loan Made	 	Amount of
Loan Made	 	End of
Interest
Period	 	Amount of
Principal or
Interest
Paid This
Date	 	Outstanding
Principal
Balance
This Date	 	Notation
Made By
							
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________

  

 3 

 NOTE 
  

			
	 $ 40,000,000.00
	 	March 29, 2006

 FOR VALUE RECEIVED, the undersigned AMERICAN FINANCIAL GROUP, INC., hereby
promises to pay to THE BANK OF NEW YORK or registered assigns (the “Lender”), in accordance with the provisions of the Agreement (as hereinafter defined), the principal amount of FORTY MILLION AND NO/100 DOLLARS ($40,000,000.00) or
such lesser principal amount of Loans (as defined in such Agreement) due and payable by American Financial Group, Inc. to the Lender on the Maturity Date under that certain Credit Agreement, dated as of March 29, 2006 (as amended, restated,
extended, supplemented or otherwise modified in writing from time to time, the “Agreement;” the terms defined therein being used herein as therein defined), among American Financial Group, Inc., AAG Holding Company, Inc., the
Lenders from time to time party thereto, and Bank of America, N.A., as Administrative Agent. 
 American Financial Group,
Inc. promises to pay interest on the unpaid principal amount of each Loan from the date of such Loan until such principal amount is paid in full, at such interest rates and at such times as provided in the Agreement. All payments of principal and
interest shall be made to the Administrative Agent for the account of the Lender in Dollars in immediately available funds at the Administrative Agent’s Office. If any amount is not paid in full when due hereunder, such unpaid amount shall bear
interest, to be paid upon demand, from the due date thereof until the date of actual payment (and before as well as after judgment) computed at the per annum rate set forth in the Agreement. 
 This Note is one of the Notes referred to in the Agreement, is entitled to the benefits thereof and may be prepaid in whole or in part
subject to the terms and conditions provided therein. Upon the occurrence and continuation of one or more of the Events of Default specified in the Agreement, all amounts then remaining unpaid on this Note shall become, or may be declared to be,
immediately due and payable all as provided in the Agreement. Loans made by the Lender shall be evidenced by one or more loan accounts or records maintained by the Lender in the ordinary course of business. The Lender may also attach schedules to
this Note and endorse thereon the date, amount and maturity of its Loans and payments with respect thereto. 
 American
Financial Group, Inc., for itself, its successors and assigns, hereby waives diligence, presentment, protest and demand and notice of protest, demand, dishonor and non-payment of this Note. 
  

 1 

 THIS NOTE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF
NEW YORK. 
  

							
		 	 AMERICAN FINANCIAL GROUP, INC.

			
		 	 By:
	 	  

		 		 	 Name:
	 	  

		 		 	 Title:
	 	  

  

 2 

 LOANS AND PAYMENTS WITH RESPECT THERETO 
  

													
	Date	 	Type of
Loan Made	 	Amount of
Loan Made	 	End of
Interest
Period	 	Amount of
Principal or
Interest
Paid This
Date	 	Outstanding
Principal
Balance
This Date	 	Notation
Made By
							
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________

  

 3 

 NOTE 
  

			
	 $ 40,000,000.00
	 	March 29, 2006

 FOR VALUE RECEIVED, the undersigned AMERICAN FINANCIAL GROUP, INC., hereby
promises to pay to WACHOVIA BANK, NATIONAL ASSOCIATION or registered assigns (the “Lender”), in accordance with the provisions of the Agreement (as hereinafter defined), the principal amount of FORTY MILLION AND NO/100 DOLLARS
($40,000,000.00) or such lesser principal amount of Loans (as defined in such Agreement) due and payable by American Financial Group, Inc. to the Lender on the Maturity Date under that certain Credit Agreement, dated as of March 29, 2006 (as
amended, restated, extended, supplemented or otherwise modified in writing from time to time, the “Agreement;” the terms defined therein being used herein as therein defined), among American Financial Group, Inc., AAG Holding
Company, Inc., the Lenders from time to time party thereto, and Bank of America, N.A., as Administrative Agent. 
 American
Financial Group, Inc. promises to pay interest on the unpaid principal amount of each Loan from the date of such Loan until such principal amount is paid in full, at such interest rates and at such times as provided in the Agreement. All payments of
principal and interest shall be made to the Administrative Agent for the account of the Lender in Dollars in immediately available funds at the Administrative Agent’s Office. If any amount is not paid in full when due hereunder, such unpaid
amount shall bear interest, to be paid upon demand, from the due date thereof until the date of actual payment (and before as well as after judgment) computed at the per annum rate set forth in the Agreement. 
 This Note is one of the Notes referred to in the Agreement, is entitled to the benefits thereof and may be prepaid in whole or in part
subject to the terms and conditions provided therein. Upon the occurrence and continuation of one or more of the Events of Default specified in the Agreement, all amounts then remaining unpaid on this Note shall become, or may be declared to be,
immediately due and payable all as provided in the Agreement. Loans made by the Lender shall be evidenced by one or more loan accounts or records maintained by the Lender in the ordinary course of business. The Lender may also attach schedules to
this Note and endorse thereon the date, amount and maturity of its Loans and payments with respect thereto. 
 American
Financial Group, Inc., for itself, its successors and assigns, hereby waives diligence, presentment, protest and demand and notice of protest, demand, dishonor and non-payment of this Note. 
  

 1 

 THIS NOTE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF
NEW YORK. 
  

							
		 	 AMERICAN FINANCIAL GROUP, INC.

			
		 	 By:
	 	  

		 		 	 Name:
	 	  

		 		 	 Title:
	 	  

  

 2 

 LOANS AND PAYMENTS WITH RESPECT THERETO 
  

													
	Date	 	Type of
Loan Made	 	Amount of
Loan Made	 	End of
Interest
Period	 	Amount of
Principal or
Interest
Paid This
Date	 	Outstanding
Principal
Balance
This Date	 	Notation
Made By
							
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________

  

 3 

 NOTE 
  

			
	 $ 30,000,000.00
	 	March 29, 2006

 FOR VALUE RECEIVED, the undersigned AMERICAN FINANCIAL GROUP, INC., hereby
promises to pay to REGIONS BANK or registered assigns (the “Lender”), in accordance with the provisions of the Agreement (as hereinafter defined), the principal amount of THIRTY MILLION AND NO/100 DOLLARS ($30,000,000.00) or such
lesser principal amount of Loans (as defined in such Agreement) due and payable by American Financial Group, Inc. to the Lender on the Maturity Date under that certain Credit Agreement, dated as of March 29, 2006 (as amended, restated,
extended, supplemented or otherwise modified in writing from time to time, the “Agreement;” the terms defined therein being used herein as therein defined), among American Financial Group, Inc., AAG Holding Company, Inc., the
Lenders from time to time party thereto, and Bank of America, N.A., as Administrative Agent. 
 American Financial Group,
Inc. promises to pay interest on the unpaid principal amount of each Loan from the date of such Loan until such principal amount is paid in full, at such interest rates and at such times as provided in the Agreement. All payments of principal and
interest shall be made to the Administrative Agent for the account of the Lender in Dollars in immediately available funds at the Administrative Agent’s Office. If any amount is not paid in full when due hereunder, such unpaid amount shall bear
interest, to be paid upon demand, from the due date thereof until the date of actual payment (and before as well as after judgment) computed at the per annum rate set forth in the Agreement. 
 This Note is one of the Notes referred to in the Agreement, is entitled to the benefits thereof and may be prepaid in whole or in part
subject to the terms and conditions provided therein. Upon the occurrence and continuation of one or more of the Events of Default specified in the Agreement, all amounts then remaining unpaid on this Note shall become, or may be declared to be,
immediately due and payable all as provided in the Agreement. Loans made by the Lender shall be evidenced by one or more loan accounts or records maintained by the Lender in the ordinary course of business. The Lender may also attach schedules to
this Note and endorse thereon the date, amount and maturity of its Loans and payments with respect thereto. 
 American
Financial Group, Inc., for itself, its successors and assigns, hereby waives diligence, presentment, protest and demand and notice of protest, demand, dishonor and non-payment of this Note. 
  

 1 

 THIS NOTE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF
NEW YORK. 
  

							
		 	 AMERICAN FINANCIAL GROUP, INC.

			
		 	 By:
	 	  

		 		 	 Name:
	 	  

		 		 	 Title:
	 	  

  

 2 

 LOANS AND PAYMENTS WITH RESPECT THERETO 
  

													
	Date	 	Type of
Loan Made	 	Amount of
Loan Made	 	End of
Interest
Period	 	Amount of
Principal or
Interest
Paid This
Date	 	Outstanding
Principal
Balance
This Date	 	Notation
Made By
							
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________

  

 3 

 NOTE 
  

			
	 $ 20,000,000.00
	 	March 29, 2006

 FOR VALUE RECEIVED, the undersigned AMERICAN FINANCIAL GROUP, INC., hereby
promises to pay to CREDIT SUISSE FIRST BOSTON or registered assigns (the “Lender”), in accordance with the provisions of the Agreement (as hereinafter defined), the principal amount of TWENTY MILLION AND NO/100 DOLLARS
($20,000,000.00) or such lesser principal amount of Loans (as defined in such Agreement) due and payable by American Financial Group, Inc. to the Lender on the Maturity Date under that certain Credit Agreement, dated as of March 29, 2006 (as
amended, restated, extended, supplemented or otherwise modified in writing from time to time, the “Agreement;” the terms defined therein being used herein as therein defined), among American Financial Group, Inc., AAG Holding
Company, Inc., the Lenders from time to time party thereto, and Bank of America, N.A., as Administrative Agent. 
 American
Financial Group, Inc. promises to pay interest on the unpaid principal amount of each Loan from the date of such Loan until such principal amount is paid in full, at such interest rates and at such times as provided in the Agreement. All payments of
principal and interest shall be made to the Administrative Agent for the account of the Lender in Dollars in immediately available funds at the Administrative Agent’s Office. If any amount is not paid in full when due hereunder, such unpaid
amount shall bear interest, to be paid upon demand, from the due date thereof until the date of actual payment (and before as well as after judgment) computed at the per annum rate set forth in the Agreement. 
 This Note is one of the Notes referred to in the Agreement, is entitled to the benefits thereof and may be prepaid in whole or in part
subject to the terms and conditions provided therein. Upon the occurrence and continuation of one or more of the Events of Default specified in the Agreement, all amounts then remaining unpaid on this Note shall become, or may be declared to be,
immediately due and payable all as provided in the Agreement. Loans made by the Lender shall be evidenced by one or more loan accounts or records maintained by the Lender in the ordinary course of business. The Lender may also attach schedules to
this Note and endorse thereon the date, amount and maturity of its Loans and payments with respect thereto. 
 American
Financial Group, Inc., for itself, its successors and assigns, hereby waives diligence, presentment, protest and demand and notice of protest, demand, dishonor and non-payment of this Note. 
  

 1 

 THIS NOTE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF
NEW YORK. 
  

							
		 	 AMERICAN FINANCIAL GROUP, INC.

			
		 	 By:
	 	  

		 		 	 Name:
	 	  

		 		 	 Title:
	 	  

  

 2 

 LOANS AND PAYMENTS WITH RESPECT THERETO 
  

													
	Date	 	Type of
Loan Made	 	Amount of
Loan Made	 	End of
Interest
Period	 	Amount of
Principal or
Interest
Paid This
Date	 	Outstanding
Principal
Balance
This Date	 	Notation
Made By
							
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________

  

 3 

 NOTE 
  

			
	 $ 20,000,000.00
	 	March 29, 2006

 FOR VALUE RECEIVED, the undersigned AMERICAN FINANCIAL GROUP, INC., hereby
promises to pay to THE HUNTINGTON NATIONAL BANK or registered assigns (the “Lender”), in accordance with the provisions of the Agreement (as hereinafter defined), the principal amount of TWENTY MILLION AND NO/100 DOLLARS
($20,000,000.00) or such lesser principal amount of Loans (as defined in such Agreement) due and payable by American Financial Group, Inc. to the Lender on the Maturity Date under that certain Credit Agreement, dated as of March 29, 2006 (as
amended, restated, extended, supplemented or otherwise modified in writing from time to time, the “Agreement;” the terms defined therein being used herein as therein defined), among American Financial Group, Inc., AAG Holding
Company, Inc., the Lenders from time to time party thereto, and Bank of America, N.A., as Administrative Agent. 
 American
Financial Group, Inc. promises to pay interest on the unpaid principal amount of each Loan from the date of such Loan until such principal amount is paid in full, at such interest rates and at such times as provided in the Agreement. All payments of
principal and interest shall be made to the Administrative Agent for the account of the Lender in Dollars in immediately available funds at the Administrative Agent’s Office. If any amount is not paid in full when due hereunder, such unpaid
amount shall bear interest, to be paid upon demand, from the due date thereof until the date of actual payment (and before as well as after judgment) computed at the per annum rate set forth in the Agreement. 
 This Note is one of the Notes referred to in the Agreement, is entitled to the benefits thereof and may be prepaid in whole or in part
subject to the terms and conditions provided therein. Upon the occurrence and continuation of one or more of the Events of Default specified in the Agreement, all amounts then remaining unpaid on this Note shall become, or may be declared to be,
immediately due and payable all as provided in the Agreement. Loans made by the Lender shall be evidenced by one or more loan accounts or records maintained by the Lender in the ordinary course of business. The Lender may also attach schedules to
this Note and endorse thereon the date, amount and maturity of its Loans and payments with respect thereto. 
 American
Financial Group, Inc., for itself, its successors and assigns, hereby waives diligence, presentment, protest and demand and notice of protest, demand, dishonor and non-payment of this Note. 
  

 1 

 THIS NOTE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF
NEW YORK. 
  

							
		 	 AMERICAN FINANCIAL GROUP, INC.

			
		 	 By:
	 	  

		 		 	 Name:
	 	  

		 		 	 Title:
	 	  

  

 2 

 LOANS AND PAYMENTS WITH RESPECT THERETO 
  

													
	Date	 	Type of
Loan Made	 	Amount of
Loan Made	 	End of
Interest
Period	 	Amount of
Principal or
Interest
Paid This
Date	 	Outstanding
Principal
Balance
This Date	 	Notation
Made By
							
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________

  

 3 

 NOTE 
  

			
	 $ 20,000,000.00
	 	March 29, 2006

 FOR VALUE RECEIVED, the undersigned AMERICAN FINANCIAL GROUP, INC., hereby
promises to pay to LASALLE BANK NATIONAL ASSOCIATION or registered assigns (the “Lender”), in accordance with the provisions of the Agreement (as hereinafter defined), the principal amount of TWENTY MILLION AND NO/100 DOLLARS
($20,000,000.00) or such lesser principal amount of Loans (as defined in such Agreement) due and payable by American Financial Group, Inc. to the Lender on the Maturity Date under that certain Credit Agreement, dated as of March 29, 2006 (as
amended, restated, extended, supplemented or otherwise modified in writing from time to time, the “Agreement;” the terms defined therein being used herein as therein defined), among American Financial Group, Inc., AAG Holding
Company, Inc., the Lenders from time to time party thereto, and Bank of America, N.A., as Administrative Agent. 
 American
Financial Group, Inc. promises to pay interest on the unpaid principal amount of each Loan from the date of such Loan until such principal amount is paid in full, at such interest rates and at such times as provided in the Agreement. All payments of
principal and interest shall be made to the Administrative Agent for the account of the Lender in Dollars in immediately available funds at the Administrative Agent’s Office. If any amount is not paid in full when due hereunder, such unpaid
amount shall bear interest, to be paid upon demand, from the due date thereof until the date of actual payment (and before as well as after judgment) computed at the per annum rate set forth in the Agreement. 
 This Note is one of the Notes referred to in the Agreement, is entitled to the benefits thereof and may be prepaid in whole or in part
subject to the terms and conditions provided therein. Upon the occurrence and continuation of one or more of the Events of Default specified in the Agreement, all amounts then remaining unpaid on this Note shall become, or may be declared to be,
immediately due and payable all as provided in the Agreement. Loans made by the Lender shall be evidenced by one or more loan accounts or records maintained by the Lender in the ordinary course of business. The Lender may also attach schedules to
this Note and endorse thereon the date, amount and maturity of its Loans and payments with respect thereto. 
 American
Financial Group, Inc., for itself, its successors and assigns, hereby waives diligence, presentment, protest and demand and notice of protest, demand, dishonor and non-payment of this Note. 
  

 1 

 THIS NOTE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF
NEW YORK. 
  

							
		 	 AMERICAN FINANCIAL GROUP, INC.

			
		 	 By:
	 	  

		 		 	 Name:
	 	  

		 		 	 Title:
	 	  

  

 2 

 LOANS AND PAYMENTS WITH RESPECT THERETO 
  

													
	Date	 	Type of
Loan Made	 	Amount of
Loan Made	 	End of
Interest
Period	 	Amount of
Principal or
Interest
Paid This
Date	 	Outstanding
Principal
Balance
This Date	 	Notation
Made By
							
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________

  

 3 

 NOTE 
  

			
	 $ 20,000,000.00
	 	March 29, 2006

 FOR VALUE RECEIVED, the undersigned AMERICAN FINANCIAL GROUP, INC., hereby
promises to pay to MERRILL LYNCH BANK USA or registered assigns (the “Lender”), in accordance with the provisions of the Agreement (as hereinafter defined), the principal amount of TWENTY MILLION AND NO/100 DOLLARS ($20,000,000.00)
or such lesser principal amount of Loans (as defined in such Agreement) due and payable by American Financial Group, Inc. to the Lender on the Maturity Date under that certain Credit Agreement, dated as of March 29, 2006 (as amended, restated,
extended, supplemented or otherwise modified in writing from time to time, the “Agreement;” the terms defined therein being used herein as therein defined), among American Financial Group, Inc., AAG Holding Company, Inc., the
Lenders from time to time party thereto, and Bank of America, N.A., as Administrative Agent. 
 American Financial Group,
Inc. promises to pay interest on the unpaid principal amount of each Loan from the date of such Loan until such principal amount is paid in full, at such interest rates and at such times as provided in the Agreement. All payments of principal and
interest shall be made to the Administrative Agent for the account of the Lender in Dollars in immediately available funds at the Administrative Agent’s Office. If any amount is not paid in full when due hereunder, such unpaid amount shall bear
interest, to be paid upon demand, from the due date thereof until the date of actual payment (and before as well as after judgment) computed at the per annum rate set forth in the Agreement. 
 This Note is one of the Notes referred to in the Agreement, is entitled to the benefits thereof and may be prepaid in whole or in part
subject to the terms and conditions provided therein. Upon the occurrence and continuation of one or more of the Events of Default specified in the Agreement, all amounts then remaining unpaid on this Note shall become, or may be declared to be,
immediately due and payable all as provided in the Agreement. Loans made by the Lender shall be evidenced by one or more loan accounts or records maintained by the Lender in the ordinary course of business. The Lender may also attach schedules to
this Note and endorse thereon the date, amount and maturity of its Loans and payments with respect thereto. 
 American
Financial Group, Inc., for itself, its successors and assigns, hereby waives diligence, presentment, protest and demand and notice of protest, demand, dishonor and non-payment of this Note. 
  

 1 

 THIS NOTE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF
NEW YORK. 
  

							
		 	 AMERICAN FINANCIAL GROUP, INC.

			
		 	 By:
	 	  

		 		 	 Name:
	 	  

		 		 	 Title:
	 	  

  

 2 

 LOANS AND PAYMENTS WITH RESPECT THERETO 
  

													
	Date	 	Type of
Loan Made	 	Amount of
Loan Made	 	End of
Interest
Period	 	Amount of
Principal or
Interest
Paid This
Date	 	Outstanding
Principal
Balance
This Date	 	Notation
Made By
							
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________

  

 3 

 NOTE 
  

			
	 $ 20,000,000.00
	 	March 29, 2006

 FOR VALUE RECEIVED, the undersigned AMERICAN FINANCIAL GROUP, INC., hereby
promises to pay to PNC BANK, NATIONAL ASSOCIATION or registered assigns (the “Lender”), in accordance with the provisions of the Agreement (as hereinafter defined), the principal amount of TWENTY MILLION AND NO/100 DOLLARS
($20,000,000.00) or such lesser principal amount of Loans (as defined in such Agreement) due and payable by American Financial Group, Inc. to the Lender on the Maturity Date under that certain Credit Agreement, dated as of March 29, 2006 (as
amended, restated, extended, supplemented or otherwise modified in writing from time to time, the “Agreement;” the terms defined therein being used herein as therein defined), among American Financial Group, Inc., AAG Holding
Company, Inc., the Lenders from time to time party thereto, and Bank of America, N.A., as Administrative Agent. 
 American
Financial Group, Inc. promises to pay interest on the unpaid principal amount of each Loan from the date of such Loan until such principal amount is paid in full, at such interest rates and at such times as provided in the Agreement. All payments of
principal and interest shall be made to the Administrative Agent for the account of the Lender in Dollars in immediately available funds at the Administrative Agent’s Office. If any amount is not paid in full when due hereunder, such unpaid
amount shall bear interest, to be paid upon demand, from the due date thereof until the date of actual payment (and before as well as after judgment) computed at the per annum rate set forth in the Agreement. 
 This Note is one of the Notes referred to in the Agreement, is entitled to the benefits thereof and may be prepaid in whole or in part
subject to the terms and conditions provided therein. Upon the occurrence and continuation of one or more of the Events of Default specified in the Agreement, all amounts then remaining unpaid on this Note shall become, or may be declared to be,
immediately due and payable all as provided in the Agreement. Loans made by the Lender shall be evidenced by one or more loan accounts or records maintained by the Lender in the ordinary course of business. The Lender may also attach schedules to
this Note and endorse thereon the date, amount and maturity of its Loans and payments with respect thereto. 
 American
Financial Group, Inc., for itself, its successors and assigns, hereby waives diligence, presentment, protest and demand and notice of protest, demand, dishonor and non-payment of this Note. 
  

 1 

 THIS NOTE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF
NEW YORK. 
  

							
		 	 AMERICAN FINANCIAL GROUP, INC.

			
		 	 By:
	 	  

		 		 	 Name:
	 	  

		 		 	 Title:
	 	  

  

 2 

 LOANS AND PAYMENTS WITH RESPECT THERETO 
  

													
	Date	 	Type of
Loan Made	 	Amount of
Loan Made	 	End of
Interest
Period	 	Amount of
Principal or
Interest
Paid This
Date	 	Outstanding
Principal
Balance
This Date	 	Notation
Made By
							
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________

  

 3 

 NOTE 
  

			
	 $ 20,000,000.00
	 	March 29, 2006

 FOR VALUE RECEIVED, the undersigned AMERICAN FINANCIAL GROUP, INC., hereby
promises to pay to UBS LOAN FINANCE LLC or registered assigns (the “Lender”), in accordance with the provisions of the Agreement (as hereinafter defined), the principal amount of TWENTY MILLION AND NO/100 DOLLARS ($20,000,000.00) or
such lesser principal amount of Loans (as defined in such Agreement) due and payable by American Financial Group, Inc. to the Lender on the Maturity Date under that certain Credit Agreement, dated as of March 29, 2006 (as amended, restated,
extended, supplemented or otherwise modified in writing from time to time, the “Agreement;” the terms defined therein being used herein as therein defined), among American Financial Group, Inc., AAG Holding Company, Inc., the
Lenders from time to time party thereto, and Bank of America, N.A., as Administrative Agent. 
 American Financial Group,
Inc. promises to pay interest on the unpaid principal amount of each Loan from the date of such Loan until such principal amount is paid in full, at such interest rates and at such times as provided in the Agreement. All payments of principal and
interest shall be made to the Administrative Agent for the account of the Lender in Dollars in immediately available funds at the Administrative Agent’s Office. If any amount is not paid in full when due hereunder, such unpaid amount shall bear
interest, to be paid upon demand, from the due date thereof until the date of actual payment (and before as well as after judgment) computed at the per annum rate set forth in the Agreement. 
 This Note is one of the Notes referred to in the Agreement, is entitled to the benefits thereof and may be prepaid in whole or in part
subject to the terms and conditions provided therein. Upon the occurrence and continuation of one or more of the Events of Default specified in the Agreement, all amounts then remaining unpaid on this Note shall become, or may be declared to be,
immediately due and payable all as provided in the Agreement. Loans made by the Lender shall be evidenced by one or more loan accounts or records maintained by the Lender in the ordinary course of business. The Lender may also attach schedules to
this Note and endorse thereon the date, amount and maturity of its Loans and payments with respect thereto. 
 American
Financial Group, Inc., for itself, its successors and assigns, hereby waives diligence, presentment, protest and demand and notice of protest, demand, dishonor and non-payment of this Note. 
  

 1 

 THIS NOTE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF
NEW YORK. 
  

							
		 	 AMERICAN FINANCIAL GROUP, INC.

			
		 	 By:
	 	  

		 		 	 Name:
	 	  

		 		 	 Title:
	 	  

  

 2 

 LOANS AND PAYMENTS WITH RESPECT THERETO 
  

													
	Date	 	Type of
Loan Made	 	Amount of
Loan Made	 	End of
Interest
Period	 	Amount of
Principal or
Interest
Paid This
Date	 	Outstanding
Principal
Balance
This Date	 	Notation
Made By
							
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________

  

 3 

 NOTE 
  

			
	 $ 17,500,000.00
	 	March 29, 2006

 FOR VALUE RECEIVED, the undersigned AMERICAN FINANCIAL GROUP, INC., hereby
promises to pay to JPMORGAN CHASE BANK, N.A. or registered assigns (the “Lender”), in accordance with the provisions of the Agreement (as hereinafter defined), the principal amount of SEVENTEEN MILLION FIVE HUNDRED THOUSAND AND
NO/100 DOLLARS ($17,500,000.00) or such lesser principal amount of Loans (as defined in such Agreement) due and payable by American Financial Group, Inc. to the Lender on the Maturity Date under that certain Credit Agreement, dated as of
March 29, 2006 (as amended, restated, extended, supplemented or otherwise modified in writing from time to time, the “Agreement;” the terms defined therein being used herein as therein defined), among American Financial Group,
Inc., AAG Holding Company, Inc., the Lenders from time to time party thereto, and Bank of America, N.A., as Administrative Agent. 
 American Financial Group, Inc. promises to pay interest on the unpaid principal amount of each Loan from the date of such Loan until such principal amount is paid in full, at such interest rates and at such times as provided in the
Agreement. All payments of principal and interest shall be made to the Administrative Agent for the account of the Lender in Dollars in immediately available funds at the Administrative Agent’s Office. If any amount is not paid in full when due
hereunder, such unpaid amount shall bear interest, to be paid upon demand, from the due date thereof until the date of actual payment (and before as well as after judgment) computed at the per annum rate set forth in the Agreement. 
 This Note is one of the Notes referred to in the Agreement, is entitled to the benefits thereof and may be prepaid in whole or in part
subject to the terms and conditions provided therein. Upon the occurrence and continuation of one or more of the Events of Default specified in the Agreement, all amounts then remaining unpaid on this Note shall become, or may be declared to be,
immediately due and payable all as provided in the Agreement. Loans made by the Lender shall be evidenced by one or more loan accounts or records maintained by the Lender in the ordinary course of business. The Lender may also attach schedules to
this Note and endorse thereon the date, amount and maturity of its Loans and payments with respect thereto. 
 American
Financial Group, Inc., for itself, its successors and assigns, hereby waives diligence, presentment, protest and demand and notice of protest, demand, dishonor and non-payment of this Note. 
  

 1 

 THIS NOTE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF
NEW YORK. 
  

							
		 	 AMERICAN FINANCIAL GROUP, INC.

			
		 	 By:
	 	  

		 		 	 Name:
	 	  

		 		 	 Title:
	 	  

  

 2 

 LOANS AND PAYMENTS WITH RESPECT THERETO 
  

													
	Date	 	Type of
Loan Made	 	Amount of
Loan Made	 	End of
Interest
Period	 	Amount of
Principal or
Interest
Paid This
Date	 	Outstanding
Principal
Balance
This Date	 	Notation
Made By
							
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________

  

 3 

 NOTE 
  

			
	 $ 15,000,000.00
	 	March 29, 2006

 FOR VALUE RECEIVED, the undersigned AMERICAN FINANCIAL GROUP, INC., hereby
promises to pay to NORTHERN TRUST BANK or registered assigns (the “Lender”), in accordance with the provisions of the Agreement (as hereinafter defined), the principal amount of FIFTEEN MILLION AND NO/100 DOLLARS ($15,000,000.00) or
such lesser principal amount of Loans (as defined in such Agreement) due and payable by American Financial Group, Inc. to the Lender on the Maturity Date under that certain Credit Agreement, dated as of March 29, 2006 (as amended, restated,
extended, supplemented or otherwise modified in writing from time to time, the “Agreement;” the terms defined therein being used herein as therein defined), among American Financial Group, Inc., AAG Holding Company, Inc., the
Lenders from time to time party thereto, and Bank of America, N.A., as Administrative Agent. 
 American Financial Group,
Inc. promises to pay interest on the unpaid principal amount of each Loan from the date of such Loan until such principal amount is paid in full, at such interest rates and at such times as provided in the Agreement. All payments of principal and
interest shall be made to the Administrative Agent for the account of the Lender in Dollars in immediately available funds at the Administrative Agent’s Office. If any amount is not paid in full when due hereunder, such unpaid amount shall bear
interest, to be paid upon demand, from the due date thereof until the date of actual payment (and before as well as after judgment) computed at the per annum rate set forth in the Agreement. 
 This Note is one of the Notes referred to in the Agreement, is entitled to the benefits thereof and may be prepaid in whole or in part
subject to the terms and conditions provided therein. Upon the occurrence and continuation of one or more of the Events of Default specified in the Agreement, all amounts then remaining unpaid on this Note shall become, or may be declared to be,
immediately due and payable all as provided in the Agreement. Loans made by the Lender shall be evidenced by one or more loan accounts or records maintained by the Lender in the ordinary course of business. The Lender may also attach schedules to
this Note and endorse thereon the date, amount and maturity of its Loans and payments with respect thereto. 
 American
Financial Group, Inc., for itself, its successors and assigns, hereby waives diligence, presentment, protest and demand and notice of protest, demand, dishonor and non-payment of this Note. 
  

 1 

 THIS NOTE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF
NEW YORK. 
  

							
		 	 AMERICAN FINANCIAL GROUP, INC.

			
		 	 By:
	 	  

		 		 	 Name:
	 	  

		 		 	 Title:
	 	  

  

 2 

 LOANS AND PAYMENTS WITH RESPECT THERETO 
  

													
	Date	 	Type of
Loan Made	 	Amount of
Loan Made	 	End of
Interest
Period	 	Amount of
Principal or
Interest
Paid This
Date	 	Outstanding
Principal
Balance
This Date	 	Notation
Made By
							
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 __________
	 	__________	 	__________	 	__________	 	__________	 	__________	 	__________

  

 3 

 GUARANTY 
 GUARANTY (this “Guaranty”), dated as of March 29, 2006, made by the party listed on the signature page hereof (the “Guarantor”), in favor of the Guarantied
Parties referred to below. 
 W I T N E S S E T H: 
 WHEREAS, American Financial Group, Inc., an Ohio corporation and AAG Holding Company, Inc. (“AAG”), an Ohio corporation
(the “Borrowers”), have entered into a Credit Agreement dated as of March 29, 2006, among the Lenders party thereto, and Bank of America, N.A., as the Administrative Agent (hereinafter, the “Administrative Agent”)
for the Lenders, (said Credit Agreement, as it may be amended, supplemented or otherwise modified from time to time, being the “Credit Agreement”, and capitalized terms not defined herein but defined therein being used herein as
therein defined); and 
 WHEREAS, the Borrowers are members of the same consolidated group of companies and are engaged in
operations which require financing on a basis in which credit can be made available from time to time to the Borrowers, and the Guarantor will derive direct and indirect economic benefit from the Revolving Loans made to AAG under the Credit
Agreement; and 
 WHEREAS, it is a condition precedent to the obligation of the Lenders to make Revolving Loans under the
Credit Agreement that the Guarantor shall have executed and delivered this Guaranty; and 
 WHEREAS, the Lenders, the
Administrative Agent, any Lender or Affiliate of any Lender entering into a Swap Contract (provided that such Lender was a Lender at the time such Swap Contract was entered into) with either Borrower or any Affiliate of either Borrower, and the
beneficiaries of each indemnification obligation undertaken by any Loan Party under any Loan Document are herein referred to as the “Guarantied Parties”; 
 NOW, THEREFORE, in consideration of the premises and to induce the Lenders to make Revolving Loans, the Guarantor hereby agrees as follows: 
 1. Guaranty. The Guarantor hereby unconditionally and irrevocably guarantees the full and prompt payment when due, whether at stated maturity, by
acceleration or otherwise, of, and the performance of, (a) the principal of and interest on the Loans made to, and any Notes held by the Lenders of, AAG, (b) all other amounts from time to time owing to the Lenders, the Administrative
Agent or any indemnified party under the Credit Agreement, the Notes or the other Loan Documents, including all Obligations of AAG, whether now or hereafter existing and whether for principal, interest, fees, expenses or otherwise, (c) all Swap
Obligations owed to any Lender or any Affiliate of a Lender (provided at the time of execution of the Swap Contract related to such Swap Obligations such Lender is a party to the Credit Agreement), (d) any and all reasonable out-of-pocket
expenses (including, without limitation, reasonable expenses and reasonable counsel fees and expenses of the Administrative Agent and the Lenders) incurred by any of the Guarantied Parties in enforcing any rights under this Guaranty and (e) all
present and future amounts that would become due but for the operation of any provision of Debtor Relief Laws, and all present and future accrued and unpaid interest, including, without limitation, all 
  

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 post-petition interest if AAG or the Guarantor voluntarily or involuntarily becomes subject to any Debtor
Relief Laws (the items set forth in clauses (a), (b), (c), (d) and (e) immediately above being herein referred to as the “Guarantied Obligations”). Upon failure of AAG to pay any of the Guarantied Obligations when due
after the giving by the Administrative Agent and/or the Lenders of any notice and the expiration of any applicable cure period in each case provided for in the Credit Agreement and other Loan Documents (whether at stated maturity, by acceleration or
otherwise), the Guarantor hereby further agrees to promptly pay the same after the Guarantor’s receipt of notice from the Administrative Agent of AAG’s failure to pay the same, without any other demand or notice whatsoever, including
without limitation, any notice having been given to the Guarantor of either the acceptance by the Guarantied Parties of this Guaranty or the creation or incurrence of any of the Guarantied Obligations. This Guaranty is an absolute guaranty of
payment and performance of the Guarantied Obligations and not a guaranty of collection, meaning that it is not necessary for the Guarantied Parties, in order to enforce payment by the Guarantor, first or contemporaneously to accelerate payment of
any of the Guarantied Obligations, to institute suit or exhaust any rights against any Loan Party, or to enforce any rights against any collateral. Notwithstanding anything herein or in any other Loan Document to the contrary, in any action or
proceeding involving any state corporate law, or any state or federal bankruptcy, insolvency, reorganization or other law affecting the rights of creditors generally, if, as a result of applicable law relating to fraudulent conveyance or fraudulent
transfer, including Section 548 of Bankruptcy Code or any applicable provisions of comparable state law (collectively, “Fraudulent Transfer Laws”), the obligations of the Guarantor under this Section 1 would otherwise,
after giving effect to (a) all other liabilities of the Guarantor, contingent or otherwise, that are relevant under such Fraudulent Transfer Laws (specifically excluding, however, any liabilities of the Guarantor in respect of intercompany
Indebtedness to AAG to the extent that such Indebtedness would be discharged in an amount equal to the amount paid by the Guarantor hereunder) and (b) to the value as assets of the Guarantor (as determined under the applicable provisions of
such Fraudulent Transfer Laws) of any rights of subrogation, contribution, reimbursement, indemnity or similar rights held by the Guarantor pursuant to (i) applicable requirements of Law, (ii) Section 10 hereof or (iii) any other
contractual obligations providing for an equitable allocation among the Guarantor and other Subsidiaries or Affiliates of AAG of obligations arising under this Guaranty or other guaranties of the Guarantied Obligations by such parties, be held or
determined to be void, invalid or unenforceable, or subordinated to the claims of any other creditors, on account of the amount of its liability under this Section 1, then the amount of such liability shall, without any further action by the
Guarantor, any Lender, the Administrative Agent or any other Person, be automatically limited and reduced to the highest amount that is valid and enforceable and not subordinated to the claims of other creditors as determined in such action or
proceeding. 
 2. Guaranty Absolute. The Guarantor guarantees that the Guarantied Obligations will be paid strictly in accordance with
the terms of the Credit Agreement, the Notes and the other Loan Documents, without set-off or counterclaim, and regardless of any applicable Law now or hereafter in effect in any jurisdiction affecting any of such terms or the rights of the
Guarantied Parties with respect thereto. The liability of the Guarantor under this Guaranty shall be absolute and unconditional irrespective of: 
  

 - 2 - 

 2.1 any lack of validity or enforceability of any provision of any other Loan Document or
any other agreement or instrument relating to any Loan Document, or avoidance or subordination of any of the Guarantied Obligations; 
 2.2 any change in the time, manner or place of payment of, or in any other term of, or any increase in the amount of, all or any of the Guarantied Obligations, or any other amendment or waiver of any term of, or any
consent to departure from any requirement of, the Credit Agreement, the Notes or any of the other Loan Documents; 
 2.3 any
exchange, release or non-perfection of any Lien on any collateral for, or any release of any Loan Party or amendment or waiver of any term of any other guaranty of, or any consent to departure from any requirement of any other guaranty of, all or
any of the Guarantied Obligations; 
 2.4 the absence of any attempt to collect any of the Guarantied Obligations from AAG or
from any other Loan Party or any other action to enforce the same or the election of any remedy by any of the Guarantied Parties; 
 2.5 any waiver, consent, extension, forbearance or granting of any indulgence by any of the Guarantied Parties with respect to any provision of any other Loan Document; 
 2.6 the election by any of the Guarantied Parties in any proceeding under any Debtor Relief Law; 
 2.7 any borrowing or grant of a security interest by AAG, as debtor-in-possession, under any Debtor Relief Law; or 
 2.8 any other circumstance which might otherwise constitute a legal or equitable discharge or defense of AAG or the Guarantor other than
payment or performance of the Guarantied Obligations. 
 3. Waiver. 
 3.1 The Guarantor hereby (i) waives (A) promptness, diligence, and, except as otherwise provided herein, notice of acceptance
and any and all other notices, including, without limitation, notice of intent to accelerate and notice of acceleration, with respect to any of the Guarantied Obligations or this Guaranty, (B) any requirement that any of the Guarantied Parties
protect, secure, perfect or insure any security interest in or other Lien on any property subject thereto or exhaust any right or take any action against AAG or any other Person or any collateral, (C) the filing of any claim with a court in the
event of receivership or bankruptcy of AAG or any other Person, (D) except as otherwise provided herein, protest or notice with respect to nonpayment of all or any of the Guarantied Obligations, (E) the benefit of any statute of
limitation, (F) except as otherwise provided herein, all demands whatsoever (and any requirement that demand be made on AAG or any other Person as a condition precedent to the Guarantor’s obligations hereunder), (G) all rights by
which the Guarantor might be entitled to require suit on an accrued right of action in respect of any of the Guarantied Obligations or require suit against AAG or any other Person, (H) any defense based upon an election of remedies by any
Guarantied Party, or (I) notice of any events or circumstances set forth in 
  

 - 3 - 

 clauses (a) through (h) of Section 2 hereof; and (ii) covenants and agrees that,
except as otherwise agreed by the parties, this Guaranty will not be discharged except by complete payment and performance of the Guarantied Obligations and any other obligations of the Guarantor contained herein. 
 3.2 If, in the exercise of any of its rights and remedies in accordance with the provisions of applicable Law, any of the Guarantied
Parties shall forfeit any of its rights or remedies, including, without limitation, its right to enter a deficiency judgment against AAG or any other Person, whether because of any applicable Laws pertaining to “election of remedies” or
the like, the Guarantor hereby consents to such action by such Guarantied Party and waives any claim based upon such action. Any election of remedies which, by reason of such election, results in the denial or impairment of the right of such
Guarantied Party to seek a deficiency judgment against AAG shall not impair the obligation of the Guarantor to pay the full amount of the Guarantied Obligations or any other obligation of the Guarantor contained herein. 
 3.3 In the event any of the Guarantied Parties shall bid at any foreclosure or trustee’s sale or at any private sale permitted by
Law or under any of the Loan Documents, to the extent not prohibited by applicable Law, such Guarantied Party may bid all or less than the amount of the Guarantied Obligations and the amount of such bid, if successful, need not be paid by such
Guarantied Party but shall be credited against the Guarantied Obligations. 
 3.4 The Guarantor agrees that notwithstanding
the foregoing and without limiting the generality of the foregoing if, after the occurrence and during the continuance of an Event of Default, the Guarantied Parties are prevented by applicable Law from exercising their respective rights to
accelerate the maturity of the Guarantied Obligations, to collect interest on the Guarantied Obligations, or to enforce or exercise any other right or remedy with respect to the Guarantied Obligations, or the Administrative Agent is prevented from
taking any action to realize on the Collateral, the Guarantor agrees to pay to the Administrative Agent for the account of the Guarantied Parties, upon demand therefore, for application to the Guarantied Obligations, the amount that would otherwise
have been due and payable had such rights and remedies been permitted to be exercised by the Guarantied Parties. 
 3.5 The
Guarantor hereby assumes responsibility for keeping itself informed of the financial condition of AAG and of each other Loan Party, and of all other circumstances bearing upon the risk of nonpayment of the Guarantied Obligations or any part thereof,
that diligent inquiry would reveal. The Guarantor hereby agrees that the Guarantied Parties shall have no duty to advise the Guarantor of information known to any of the Guarantied Parties regarding such condition or any such circumstance. In the
event that any of the Guarantied Parties in its sole discretion undertakes at any time or from time to time to provide any such information to the Guarantor, such Guarantied Party shall be under no obligation (i) to undertake any investigation
not a part of its regular business routine, (ii) to disclose any information which, pursuant to accepted or reasonable banking or commercial finance practices, such Guarantied Party wishes to maintain as confidential, or (iii) to make any
other or future disclosures of such information or any other information to the Guarantor. 
  

 - 4 - 

 3.6 The Guarantor consents and agrees that the Guarantied Parties shall be under no
obligation to marshal any assets in favor of the Guarantor or otherwise in connection with obtaining payment of any or all of the Guarantied Obligations from any Person or source. 
 4. Representations and Warranties. The Guarantor hereby represents and warrants to the Guarantied Parties that the representations and warranties set forth in Article V of the
Credit Agreement as they relate to the Guarantor or to the Loan Documents to which the Guarantor is a party are true and correct in all material respects in the manner specified in the Credit Agreement and the Guarantied Parties shall be entitled to
rely on each of them as if they were fully set forth herein. 
 5. Amendments. Etc. No amendment or waiver of any provision of this
Guaranty nor consent to any departure by the Guarantor herefrom shall in any event be effective unless the same shall be in writing, approved by the Required Lenders (or by all the Lenders where the approval of each Lender is required under the
Credit Agreement) and signed by the Administrative Agent, and then such waiver or consent shall be effective only in the specific instance and for the specific purpose for which given. 
 6. Addresses for Notices. All notices and other communications provided for hereunder shall be effectuated in the manner provided for in Section 10.02 of the Credit Agreement.

 7. No Waiver; Remedies. 
 7.1 No failure on the part of any Guarantied Party to exercise, and no delay in exercising, any right hereunder shall operate as a waiver thereof; nor shall any single or partial exercise of any right hereunder
preclude any other or further exercise thereof or the exercise of any other right. The remedies herein provided are cumulative and not exclusive of any remedies provided by applicable Law or any of the other Loan Documents. 
 7.2 No waiver by the Guarantied Parties of any default shall operate as a waiver of any other default or the same default on a future
occasion, and no action by any of the Guarantied Parties permitted hereunder shall in way affect or impair any of the rights of the Guarantied Parties or the obligations of the Guarantor under this Guaranty or under any of the other Loan Documents,
except as specifically set forth in any such waiver. Any determination by a court of competent jurisdiction of the amount of any principal and/or interest or other amount constituting any of the Guarantied Obligations shall be conclusive and binding
on the Guarantor irrespective of whether the Guarantor was a party to the suit or action in which such determination was made. 
 8. Right
of Set-off. Upon the occurrence and during the continuance of any Event of Default under the Credit Agreement, each of the Guarantied Parties is hereby authorized at any time and from time to time, to the fullest extent permitted by applicable
Law, to set-off and apply any and all deposits (general or special (except trust and escrow accounts), time or demand, provisional or final) at any time held and other Indebtedness at any time owing by such Guarantied Party to or for the credit or
the account of the Guarantor against any and all of the obligations of the Guarantor now or hereafter existing under this Guaranty, irrespective of whether or not such Guarantied Party shall have made any demand under this Guaranty; 
  

 - 5 - 

 
provided, however, such Guarantied Party shall promptly notify the Guarantor and AAG
after such set-off and the application made by such Guarantied Party. The rights of each Guarantied Party under this Section 8 are in addition to other rights and remedies (including, without limitation, other rights of set-off) which such
Guarantied Party may have. 
 9. Continuing Guaranty; Transfer of Notes. This Guaranty (a)(i) is a continuing guaranty

 and shall remain in full force and effect until the date that the Aggregate Commitments have been terminated and all Loans and other
Obligations have been paid in full (the “Release Date”) and (ii) binding upon the Guarantor, its permitted successors and assigns, and (b) inures to the benefit of and be enforceable by the Guarantied Parties and their
respective successors, permitted transferees, and permitted assigns. Without limiting the generality of the foregoing clause (b), each of the Guarantied Parties may assign or otherwise transfer any Note held by it or the Guarantied Obligations owed
to it to any other Person, and such other Person shall thereupon become vested with all the rights in respect thereof granted to such Guarantied Party herein or otherwise with respect to such of the Notes and the Guarantied Obligations so
transferred or assigned, subject, however, to compliance with the provisions of Section 10.06 of the Credit Agreement in respect of assignments. Except as the result of the consummation of a transaction permitted under Section 7.04 of the
Credit Agreement, the Guarantor may not assign any of its obligations under this Guaranty without first obtaining the written consent of the Lenders as set forth in the Credit Agreement. If upon any merger, dissolution, liquidation or consolidation
permitted under Section 7.04 of the Credit Agreement, the Guarantor no longer exists, the Guarantor shall be released of its obligations hereunder. 
 10. Reinstatement. This Guaranty shall remain in full force and effect and continue to be effective should any petition be filed by or against any Loan Party for liquidation or reorganization, should any Loan
Party become insolvent or make an assignment for the benefit of creditors or should a receiver or trustee be appointed for all or any significant part of any Loan Party’s assets, and shall, to the fullest extent permitted by applicable Law,
continue to be effective or be reinstated, as the case may be, if at any time payment and performance of the Guarantied Obligations, or any part thereof, is, pursuant to applicable Law, rescinded or reduced in amount, or must otherwise be restored
or returned by any obligees of the Guarantied Obligations or such part thereof, whether as a “voidable preference,” “fraudulent transfer,” or otherwise, all as though such payment or performance had not been made. In the event
that any payment, or any part thereof, is rescinded, reduced, restored or returned, the Guarantied Obligations shall, to the fullest extent permitted by law, be reinstated and deemed reduced only by such amount paid and not so rescinded, reduced,
restored or returned. 
 11. GOVERNING LAW. 
 11.1 THIS GUARANTY SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK APPLICABLE TO AGREEMENTS MADE AND TO BE PERFORMED ENTIRELY WITHIN SUCH STATE: PROVIDED
THAT EACH PARTY SHALL RETAIN ALL RIGHTS ARISING UNDER FEDERAL LAW. 
 11.2 ANY LEGAL ACTION OR PROCEEDING WITH RESPECT TO
THIS GUARANTY OR ANY OTHER LOAN DOCUMENT MAY BE BROUGHT IN THE 
  

 - 6 - 

 COURTS OF THE STATE OF NEW YORK SITTING IN NEW YORK COUNTY, NEW YORK OR IN THE UNITED STATES DISTRICT
COURT FOR THE SOUTHERN DISTRICT OF NEW YORK, AND BY EXECUTION, DELIVERY AND ACCEPTANCE OF THIS GUARANTY, THE GUARANTOR, THE ADMINISTRATIVE AGENT AND EACH LENDER CONSENTS, FOR ITSELF AND IN RESPECT OF ITS PROPERTY, TO THE NON-EXCLUSIVE JURISDICTION
OF THOSE COURTS. THE GUARANTOR, THE ADMINISTRATIVE AGENT AND EACH LENDER IRREVOCABLY WAIVES ANY OBJECTION, INCLUDING ANY OBJECTION TO THE LAYING OF VENUE OR BASED ON THE GROUNDS OF FORUM NON CONVENIENS, WHICH IT MAY NOW OR HEREAFTER HAVE TO
THE BRINGING OF ANY ACTION OR PROCEEDING IN SUCH JURISDICTION IN RESPECT OF ANY LOAN DOCUMENT OR OTHER DOCUMENT RELATED THERETO. THE GUARANTOR, THE ADMINISTRATIVE AGENT AND EACH LENDER WAIVES PERSONAL SERVICE OF ANY SUMMONS, COMPLAINT OR OTHER
PROCESS, WHICH MAY BE MADE BY ANY OTHER MEANS PERMITTED BY THE LAW OF SUCH STATE. 
 12. Waiver of Jury Trial. THE GUARANTOR, THE
ADMINISTRATIVE AGENT AND EACH LENDER HEREBY (OR BY ACCEPTANCE HEREOF) EXPRESSLY WAIVES ANY RIGHT TO TRIAL BY JURY OF ANY CLAIM, DEMAND, ACTION OR CAUSE OF ACTION ARISING UNDER ANY LOAN DOCUMENT OR IN ANY WAY CONNECTED WITH OR RELATED OR INCIDENTAL
TO THE DEALINGS OF ANY ONE OR MORE OF THE GUARANTOR, AAG, THE ADMINISTRATIVE AGENT AND EACH LENDER WITH RESPECT TO ANY LOAN DOCUMENT, OR THE TRANSACTIONS RELATED THERETO, IN EACH CASE WHETHER NOW EXISTING OR HEREAFTER ARISING, AND WHETHER FOUNDED IN
CONTRACT OR TORT OR OTHERWISE; AND THE GUARANTOR, THE ADMINISTRATIVE AGENT AND EACH LENDER HEREBY AGREES AND CONSENTS THAT ANY SUCH CLAIM, DEMAND, ACTION OR CAUSE OF ACTION SHALL BE DECIDED BY COURT TRIAL WITHOUT A JURY, AND THAT THE GUARANTOR, THE
ADMINISTRATIVE AGENT AND EACH LENDER MAY FILE AN ORIGINAL COUNTERPART OR A COPY OF THIS SECTION WITH ANY COURT AS WRITTEN EVIDENCE OF THE CONSENT OF THE GUARANTOR, THE ADMINISTRATIVE AGENT AND EACH LENDER TO THE WAIVER OF THEIR RIGHT TO TRIAL BY
JURY. 
 13. Section Titles. The Section titles contained in this Guaranty are and shall be without substantive meaning or content of
any kind whatsoever and are not a part of this Guaranty. 
 14. Execution in Counterparts. This Guaranty may be executed in any number
of counterparts and by different parties hereto in separate counterparts, each of which when so executed and delivered shall be deemed to be an original and all of which taken together shall constitute one and the same Guaranty. 
 15. Miscellaneous. All references herein to AAG or to the Guarantor shall include their respective successors and assigns, including, without
limitation, a receiver, trustee or debtor-inpossession of or for AAG or the Guarantor. All references to the singular shall be deemed to include the plural where the context so requires. 
  

 - 7 - 

	 16.
	 Subrogation and Subordination. 

 16.1 Subrogation. Notwithstanding any reference to subrogation contained herein to the contrary, until the Release Date, the Guarantor hereby irrevocably waives any claim or other rights which it may have or
hereafter acquire against AAG that arise from the existence, payment, performance or enforcement of the Guarantor’s obligations under this Guaranty, including, without limitation, any right of subrogation, reimbursement, exoneration,
contribution, indemnification, any right to participate in any claim or remedy of any Lender against AAG or any collateral which any Lender now has or hereafter acquires, whether or not such claim, remedy or right arises in equity, or under
contract, statutes or common law, including without limitation, the right to take or receive from AAG, directly or indirectly, in cash or other property or by set-off or in any other manner, payment or security on account of such claim or other
rights. If any amount shall be paid to the Guarantor in violation of the preceding sentence and the Guarantied Obligations shall not have been paid in full, such amount shall be deemed to have been paid to the Guarantor for the benefit of, and held
in trust for the benefit of, the Lenders, and shall forthwith be paid to the Administrative Agent to be credited and applied upon the Guarantied Obligations, whether matured or unmatured, in accordance with the terms of the Credit Agreement. The
Guarantor acknowledges that it will receive direct and indirect benefits from the financing arrangements contemplated by the Credit Agreement and that the waiver set forth in this Section 16 is knowingly made in contemplation of such benefits.

 16.2 Subordination. All debt and other liabilities of AAG to the Guarantor (“Borrower Debt”) are
expressly subordinate and junior to the Guarantied Obligations and any instruments evidencing the Borrower Debt to the extent provided below. 
 (i) Until the Release Date, the Guarantor agrees that it will not request, demand, accept, or receive (by set-off or other manner) any payment amount, credit or reduction of all or any part of
the amounts owing under the Borrower Debt or any security therefor, except as specifically allowed pursuant to clause (ii) below; 
 (ii) Notwithstanding the provisions of clause (i) above, AAG may pay to the Guarantor and the Guarantor may request, demand, accept and receive and retain from AAG payments, credits or reductions of all or any
part of the amounts owing under the Borrower Debt or any security therefor on the Borrower Debt, provided that AAG’s right to pay and the Guarantor’s right to receive any such amount shall automatically and be immediately suspended and
cease (A) upon the occurrence and during the continuance of an Event of Default or (B) if, after taking into account the effect of such payment, an Event of Default would occur and be continuing. The Guarantor’s right to receive
amounts under this clause (ii) (including any amounts which theretofore may have been suspended) shall automatically be reinstated at such time as the Event of Default which was the basis of such suspension has been cured or waived (provided
that no subsequent Event of Default has occurred) or such earlier date, if any, as the Administrative Agent gives notice to the Guarantor of reinstatement by the Required Lenders, in the Required Lenders’ sole discretion; 
  

 - 8 - 

 (iii) If the Guarantor receives any payment on the Borrower Debt in
violation of this Guaranty, the Guarantor will hold such payment in trust for the Lenders and will immediately deliver such payment to the Administrative Agent; and 
 (iv) In the event of the commencement or joinder of any suit, action or proceeding of any type (judicial or otherwise) or
proceeding under any Debtor Relief Law against AAG (an “Insolvency Proceeding”) and subject to court orders issued pursuant to the Bankruptcy Code, the Guarantied Obligations shall first be paid, discharged and performed in full
before any payment or performance is made upon the Borrower Debt notwithstanding any other provisions which may be made in such Insolvency Proceeding. In the event of any Insolvency Proceeding, the Guarantor will at any time prior to the Release
Date (A) file, at the request of any Guarantied Party, any claim, proof of claim or similar instrument necessary to enforce AAG’s obligation to pay the Borrower Debt, and (B) hold in trust for and pay to the Guarantied Parties any and
all monies, obligations, property, stock dividends or other assets received in any such proceeding on account of the Borrower Debt in order that the Guarantied Parties may apply such monies or the cash proceeds of such other assets to the
Obligations. 
 17. Guarantor Insolvency. Should the Guarantor voluntarily seek, consent to, or acquiesce in the benefits of any
Debtor Relief Law or become a party to or be made the subject of any proceeding provided for by any Debtor Relief Law (other than as a creditor or claimant) that could suspend or otherwise adversely affect the rights of any Guarantied Party granted
hereunder, then, the obligations of the Guarantor under this Guaranty shall be, as between the Guarantor and such Guarantied Party, a fully-matured, due, and payable obligation of the Guarantor to such Guarantied Party (without regard to whether
there is an Event of Default under the Credit Agreement or whether any part of the Guarantied Obligations is then due and owing by AAG to such Guarantied Party), payable in full by the Guarantor to such Guarantied Party upon demand, which shall be
the estimated amount owing in respect of the contingent claim created hereunder. 
 18. Rate Provision. It is not the intention of any
Guarantied Party to make an agreement violative of the laws of any applicable jurisdiction relating to usury. Regardless of any provision in this Guaranty, no Guarantied Party shall ever be entitled to contract, charge, receive, collect or apply, as
interest on the Guarantied Obligations, any amount in excess of any applicable Laws. In no event shall the Guarantor be obligated to pay any amount in excess of applicable Laws. If from any circumstance the Administrative Agent or any Guarantied
Party shall ever receive, collect or apply anything of value deemed excess interest under applicable Laws, an amount equal to such excess shall be applied to the reduction of the principal amount of outstanding Revolving Loans and any remainder
shall be promptly refunded to the payor. In determining whether or not interest paid or payable with respect to the Guarantied Obligations, under any specified contingency, exceeds the amount allowed by applicable Law, the Guarantor and the
Guarantied Parties shall, to the maximum extent permitted by applicable Laws, (a) characterize any non-principal payment as an expense, fee or premium rather than as interest, (b) amortize, prorate, allocate and spread the total amount of
interest throughout the full term of such Guarantied Obligations so that the interest paid on account of such Guarantied Obligations does not exceed the amount permitted by applicable Laws and/or (c) allocate interest between portions of such
Guarantied Obligations; provided that if the Guarantied Obligations are paid and 
  

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 performed in full prior to the end of the full contemplated term thereof, and if the interest received
for the actual period of existence thereof exceeds the amount permitted by applicable Laws, the Guarantied Parties shall refund to the payor the amount of such excess or credit the amount of such excess against the total principal amount owing, and,
in such event, no Guarantied Party shall be subject to any penalties provided by any laws for contracting for, charging or receiving interest in excess of the amount permitted by applicable Law. 
 19. Severability. Any provision of this Guaranty which is for any reason prohibited or found or held invalid or unenforceable by any court or
governmental agency shall be ineffective to the extent of such prohibition or invalidity or unenforceability, without invalidating the remaining provisions hereof in such jurisdiction or affecting the validity or enforceability of such provision in
any other jurisdiction. 
 20. Taxes. 
 20.1 Any and all payments by or on account of any obligations of the Guarantor hereunder shall be made free and clear of and without reduction or withholding for any Indemnified Taxes or Other Taxes, provided
that if the Guarantor shall be required by applicable Law to deduct any Indemnified Taxes (including any Other Taxes) from such payments, then (i) the sum payable shall be increased as necessary so that after making all required deductions
(including deductions applicable to additional sums payable under this Section) the applicable Guarantied Party receives an amount equal to the sum it would have received had no such deductions been made, (ii) the Guarantor shall make such
deductions and (iii) the Guarantor shall timely pay the full amount deducted to the relevant Governmental Authority in accordance with applicable Law. 
 20.2 Without limiting the provisions of subsection (a) above, the Guarantor shall timely pay any Other Taxes to the relevant Governmental Authority in accordance with applicable Law.

 20.3 The Guarantor shall indemnify each Guarantied Party, within 10 days after demand therefor, for the full amount of any
Indemnified Taxes or Other Taxes (including Indemnified Taxes or Other Taxes imposed or asserted on or attributable to amounts payable under this Section) paid by such Guarantied Party and any penalties, interest and reasonable expenses arising
therefrom or with respect thereto, whether or not such Indemnified Taxes or Other Taxes were correctly or legally imposed or asserted by the relevant Governmental Authority. A certificate as to the amount of such payment or liability delivered to
the Guarantor by such Guarantied Party (with a copy to the Administrative Agent), or by the Administrative Agent on its own behalf or on behalf of any Guarantied Party shall be conclusive absent manifest error. 
 20.4 As soon as practicable after any payment of Indemnified Taxes or Other Taxes by the Guarantor to a Governmental Authority, the
Guarantor shall deliver to the Administrative Agent the original or a certified copy of a receipt issued by such Governmental Authority evidencing such payment, a copy of the return reporting such payment or other evidence of such payment reasonably
satisfactory to the Administrative Agent. 
  

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 20.5 If any Guarantied Party determines, in its sole discretion, that it has received a
refund of any Taxes or Other Taxes as to which it has been indemnified by the Guarantor or with respect to which the Guarantor has paid additional amounts pursuant to this Section, it shall pay to the Guarantor an amount equal to such refund (but
only to the extent of indemnity payments made, or additional amounts paid, by the Guarantor under this Section with respect to the Taxes or Other Taxes giving rise to such refund), net of all out-of-pocket expenses of such Guarantied Party, and
without interest (other than any interest paid by the relevant Governmental Authority with respect to such refund), provided that the Guarantor, upon the request of such Guarantied Party, agrees to repay the amount paid over to the Guarantor
(plus any penalties, interest or other charges imposed by the relevant Governmental Authority) to such Guarantied Party in the event such Guarantied Party is required to repay such refund to such Governmental Authority. This subsection shall not be
construed to require any Guarantied Party to make available its tax returns (or any other information relating to its taxes that it deems confidential) to the Guarantor or any other Person. 
 20.6 The obligations of the Guarantor and Guarantied Party under this Section 20 shall survive termination of the Aggregate
Commitments and repayment of all Guarantied Obligations. 
 21. ENTIRE AGREEMENT. THIS GUARANTY AND THE OTHER LOAN DOCUMENTS REPRESENT
THE FINAL AGREEMENT BETWEEN THE PARTIES REGARDING THE SUBJECT MATTER HEREIN AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS. OR SUBSEQUENT ORAL AGREEMENTS BETWEEN THE PARTIES. THERE ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN THE
PARTIES. 
  
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 IN WITNESS WHEREOF, the Guarantor has caused this Guaranty to be duly executed and delivered by its duly
authorized officer on the date first above written. 
  

			
	 AMERICAN FINANCIAL GROUP, INC.,
an Ohio corporation

		
	 By:
	 	  
		 	 James C. Kennedy
 Vice
President

  

 Signature Page to Guaranty

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