Document:

Dale E. Redman Employment Agreement

 Exhibit 10.1 
 EMPLOYMENT AGREEMENT 
 THIS
EMPLOYMENT AGREEMENT (this “Agreement”), effective as of the 21st day of February, 2007, is by
and between AMEDISYS, INC. (“Amedisys” or the “Company”), a Delaware corporation having its principal place of business at 5959 S. Sherwood Forest Blvd., Baton Rouge, Louisiana, 70816, and Dale E. Redman
(“Executive”), an individual of the full age of majority and capacity. 
 RECITALS 
 WHEREAS, Amedisys owns, manages, and/or operates agencies and facilities for the provision of home health nursing services, in-home hospice care
services, therapy staffing services and nurse practitioner medical services to patients and customers (collectively, the “Business”); and 
 WHEREAS, Amedisys has offered, and Executive has accepted, the position of interim Chief Financial Officer. 
 NOW THEREFORE, in consideration of the premises, as well as other mutual promises and covenants contained in this Agreement, the parties hereto agree as follows: 
  

	1.	Incorporation of Recitals; Prior Agreements. 

  

	 	1.1	Recitals. The above recitations are incorporated herein by this reference. 

  

	2.	Performance of Duties. 

  

	 	2.1	Duties. Executive shall perform such duties as are usually performed by the chief financial officer of a publicly-traded company similar in size and scope to the Company.
Executive shall also perform such other reasonable additional duties as may be prescribed from time to time by the Company’s Board of Directors (the “Board”) and the Company’s Chief Operating Officer, consistent with the
expectation of the Company and the Company’s operations and taking into account Executive’s expertise and job responsibilities, including but not limited to adherence to internal compliance policies, regulatory agency rules and regulations
and applicable Federal and State laws. Executive shall have the title of interim Chief Financial Officer and shall report directly to the Company’s Chief Operating Officer (or his designee) and indirectly to both the Company’s Chief
Executive Officer and Chairman of the Audit Committee of the Company’s Board. Nothing herein shall prohibit or restrict the Company’s Board or Chief Operating Officer from changing the title and job responsibilities of Executive, in its or
his discretion, as may be necessitated by the ongoing conduct of the Company’s Business. Executive shall carefully avoid all personal acts that might in any way, directly or indirectly, harm the reputation of the Company.

	 	2.2	Devotion of Time. Executive agrees to actively and industriously devote his time and attention to the business affairs of the Company to the extent necessary to discharge the
responsibilities assigned to him and to use his reasonable best efforts to perform faithfully and efficiently such responsibilities. During the term of this Agreement, Employee shall not render services to or be employed by a party other than the
Company unless authorized to do so by the Company. 

  

	3.	Term of Employment. This Agreement shall be effective as of the execution hereof and shall continue for an indefinite period of time, subject to the provisions of
Section 5 hereto, it being expressly understood and agreed to by the parties that the employment relationship between the Company and Executive shall be “at will.” 

  

	4.	Compensation. 

  

	 	4.1	Base Salary. In consideration of Executive’s employment, Company shall pay Executive an annual salary in the amount of Three Hundred Thousand Dollars ($300,000), which
amount shall be payable in twenty-six (26) biweekly payments according to the Company’s regular payroll distribution schedule, subject to applicable withholding and other taxes. Executive is eligible to receive annual salary adjustments in
conformity with the Company’s policies, and Executive’s first salary review shall be conducted on or before April 1, 2008. Should Executive receive payments from an insurer while employed by the Company under the provisions of any
short term or long term disability plan provided by the Company for its employees, the Company’s obligation to pay the salary of Executive will be reduced by the amount of such payments. 

  

	 	4.2	Bonus. Executive shall be eligible for a bonus in accordance with the terms of the Company’s Corporate Incentive Plan (as such plan may be amended, modified or
terminated by the Board from time to time) in an amount up to 50% of his annual base salary (the “Eligible Bonus Percentage”) beginning in 2008. For fiscal year 2007, Executive shall be eligible for a pro rata share of his Eligible
Bonus Percentage, based on his hire date. Bonuses are not guaranteed. 

  

	 	4.3	Incentive Compensation. 

  

	 	4.3.1	Grant of Restricted Stock (Unvested Shares) upon Hire. As soon as practicable after the execution date of this Agreement, Executive and the Company shall enter into a
restricted stock (unvested share) agreement pursuant to the terms of the Company’s 1998 Stock Option Plan (which governs the terms of all equity-based incentive compensation awarded to Company employees). The restricted stock agreement shall
provide that Executive be granted 10,000 shares of restricted stock. The shares of restricted stock shall vest according to the following schedule: 3,333 shares shall vest on the third anniversary of the execution date of this Agreement; 3,333
shares shall vest on the fourth anniversary of the execution date of this Agreement; and 3,334 shares shall vest on the day before the fifth anniversary of the execution date of this Agreement. 

  

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	 	4.3.2	Subsequent Grants of Restricted Stock (Unvested Shares). As soon as practicable upon the second, third and fourth anniversaries of the execution date of this Agreement,
respectively, Executive and the Company shall enter into a restricted stock (unvested share) agreement pursuant to which Executive shall be granted 5,000 shares of restricted stock. The shares of restricted stock shall vest according to the
following schedule: 1,666 shares shall vest on the third anniversary of the execution date of the restricted stock agreement; 1,667 shares shall vest on the day of the fourth anniversary of the execution date of the restricted stock agreement; and
1,667 shares shall vest on the fifth anniversary of the execution date of the restricted stock agreement. 

  

	 	4.3.3	Adjustment of Restricted Stock (Unvested Share) Grants in the Event of a Stock Split. Should the Company engage in a stock split at any time between the execution date of
this Agreement and the termination date of this Agreement, the number of shares of restricted stock that the Company is obligated to grant to Executive in accordance with Sections 4.3.1 and 4.3.2 above shall be adjusted to reflect the stock split in
the same manner as shares of the Company’s common stock would be adjusted on the record date of the split. 

  

	 	4.3.4	Forfeiture; Accelerated Vesting. Each restricted stock agreement executed by Executive shall provide: 

  

	 	a.	If Executive is terminated by the Company for cause (as defined in Section 5.1.1, below) or if Executive voluntarily terminates his employment with the Company, he shall
forfeit his right to all unvested shares of restricted stock in accordance with the forfeiture terms of the restricted stock agreement. 

  

	 	b.	If Executive is terminated by the Company without cause prior to the fifth anniversary of the execution date of this Agreement, all unvested shares out of his initial grant of
10,000 shares of restricted stock (as provided by Section 4.3.1 of this Agreement) shall vest at the alternate rate of 20% per year over the five-year vesting period (for example, if Executive is terminated by the Company without cause
between the third and fourth anniversaries of the execution date of this Agreement, Executive shall become 60% vested in his restricted with the remaining 40% vesting ratably on the fourth and fifth anniversaries of the execution date of this
Agreement). 

  

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	 	c.	If Executive is terminated by the Company without cause following a Change in Control (as defined in Section 5.1.3(b) below), executive shall immediately become 100% vested in
all shares of restricted stock previously issued to him. 

  

	 	4.4	Professional Organization Membership Fees; Professional Certifications. The Company will reimburse Executive for all out-of-pocket membership fees/dues for professional
organizations and annual maintenance fees for professional certifications. 

  

	5.	Termination of Employment. Executive’s employment may be terminated at any time in accordance with, and subject to, the following terms and conditions:

  

	 	5.1	Termination by Company. The Company shall have the right to terminate Executive’s employment, with or without cause, upon notice to Executive, at any time and subject to
the sole discretion of the Company. 

  

	 	5.1.1	Termination of Employment for Cause. The Company may terminate Executive’s employment if such termination is for “cause,” which shall specifically include, but
shall not be limited to the following occurrences: 

  

	 	a.	A material default or breach by Executive of any of the provisions of this Agreement which breach is detrimental to the Company or the Business; 

  

	 	b.	Actions by Executive constituting fraud, abuse, criminal activity (other than motor vehicle infractions) or embezzlement; 

  

	 	c.	Intentionally furnishing materially false, misleading, or ommissive information to the Company’s Chief Executive Officer, Chief Operating Officer or to the Board of Directors
or any committee thereof (specifically including the Company’s Audit Committee and/or Compliance Committee); 

  

	 	d.	Actions constituting a breach of the confidentiality of the Business and/or trade secrets of the Company; 

  

	 	e.	Violation of the restrictive covenants contained in this Agreement; 

  

	 	f.	Willful failure to follow reasonable and lawful directives of the Company’s Chief Operating Officer, Chief Executive Officer or the Board, which are consistent with
Executive’s job responsibilities and performance as defined by the Board or Chief Operating Officer in its or his discretion; 

  

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	 	g.	Death of executive, in which case employment shall automatically terminate as of date of death; 

  

	 	h.	Disability of Executive; Executive shall be considered “disabled” if (i) due to physical or mental illness or injury, Executive shall have been absent from his duties
hereunder on a full-time basis for at least twelve (12) consecutive weeks or absent from his duties hereunder on a part-time basis for periods aggregating twelve (12) weeks in any twelve (12) month period and (ii) Executive is
determined by a physician designated by the Company to be incapacitated or disabled and a physician designated by Executive concurs in such determination. In the event the two physicians are in disagreement regarding Executive’s condition, they
shall seek a third physician designated by both physicians whose determination shall be binding for the purposes of this Agreement. Executive hereby agrees to submit to medical examinations as necessary to make such determinations.

  

	 	5.1.2	Effect of Termination of Employment for Cause. In the event that the Company terminates the employment of Executive for cause, Executive shall cease to be an employee of
Company and shall cease to have any power or authority of his position as of the effective date of the termination. In such event, Executive shall forfeit any unearned salary or other compensation, and the Company shall be relieved of any further
obligation under this Agreement. Further, Executive shall forfeit and shall not be entitled to any bonus compensation, the payment date of which would occur after the date of termination for cause. In such event, Executive shall also not be entitled
to receive Severance Compensation (as defined in Section 5.3, below). Notwithstanding the foregoing, in the event that Executive is terminated for cause, Executive shall nonetheless remain bound by the provisions of Sections 7 and 8 hereof and
shall continue to abide by its restrictions for the duration provided therein. 

  

	 	5.1.3	Effect of Termination of Employment Without Cause or upon a Change In Control. 

  

	 	a.	 In the event that the Company terminates the employment of Executive without cause or if Executive’s employment is terminated by the Company or by the
acquiring surviving entity upon a Change of Control (as defined below), Executive shall cease to be an employee of Company and shall cease to have any power or authority of his position as of the effective date of the termination. In such event, the
Company will discontinue compensation payments (as provided in Section 4 herein) to Executive and shall be relieved of further obligation to Executive under this Agreement, except for the obligation to provide 

  

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Severance Compensation to Executive pursuant to Section 5.3 below. Executive shall at all times remain bound by the provisions of Sections 7 and 8
hereof and shall continue to abide by its restrictions for the duration provided therein. 

  

	 	b.	For purposes of this Agreement, a “Change in Control” is the acquisition by any person, entity or “group” within the meaning of Section 13(d) or 14(d) of
the Securities Exchange Act of 1934 (the “Exchange Act”) of beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of more than fifty percent (50%) of either the then outstanding shares of the
Company’s common stock or the combined voting power of the Company’s then outstanding voting securities entitled to vote generally in the election of directors; provided however, purchase by underwriters in a firm commitment public
offering of the Company’s securities or any securities purchased for investment only by professional investors shall not constitute a Change of Control. 

  

	 	c.	In the event that Executive’s employment is terminated by the acquiring surviving entity upon a Change of Control, all unvested equity-based compensation (for example, stock
options, restricted stock, stock appreciation rights, etc.) previously awarded to Executive under the terms of any employee stock incentive plan adopted by the Company shall immediately vest and shall automatically become exercisable or
transferable, as the case may be. 

  

	 	5.2.	Termination of Employment by Executive. Executive may terminate his employment with the Company upon ninety (90) days written notice to the Company. Such notice shall
set forth in sufficient detail the reasons underlying said termination. In such event, Executive shall cease to be an employee of Company and shall cease to have any power or authority of his position as of the effective date of termination
(i.e., ninety (90) days following submission of notice) or such earlier time as the Company may elect in its sole discretion; at which time the Company shall be relieved of further obligation to Executive, including the payment of
further compensation as outlined in Section 4 herein. In the event that Executive terminates his employment with the Company, the Company may but shall have no obligation to issue Severance Compensation to Executive pursuant to Section 5.3
below. Notwithstanding the foregoing, Executive agrees to remain bound by the provisions of Sections 7 and 8 hereof upon voluntary termination of his employment, and shall continue to abide by its restrictions for the duration provided therein.

  

	 	5.3	 Severance Compensation. In the event that the Company is obligated to (pursuant to Section 5.1 above) or agrees to (pursuant to Section 5.2 above)
provide 

  

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Executive Severance Compensation, Executive hereby agrees that any such agreement or obligation on the part of Company shall be conditioned upon and subject
to Executive’s execution of a Severance Agreement addendum to this Agreement (hereinafter referred to as “Severance Agreement”), which shall contain all terms and conditions governing Executive’s ongoing entitlement to
receipt thereof, specifically including but not limited to any restrictive covenants contained therein. In such circumstances, Executive shall be entitled to Severance Compensation in an amount equal to (i) Executive’s current monthly
salary times (ii) the number of full months that Executive has been employed by the Company, up to a maximum of twelve (12) months, (hereinafter referred to as “Severance Compensation”), payable in one lump sum no later
than 10 business days after the execution date of the Severance Agreement. Should, for any reason, Executive refuse or fail to timely execute the Severance Agreement as presented by the Company, Executive shall be deemed to have foregone the
entirety of Severance Compensation otherwise due or offered to his, and Executive shall not be entitled to any further compensation from Company. 

  

	6.	Representations by Executive. Executive hereby represents to the Company that he is physically and mentally capable of performing his duties hereunder and he has no
knowledge of present or past physical or mental conditions that would cause his not to be able to perform his duties hereunder. Executive further represents to the Company that he has never been convicted of any criminal offense (other than minor
vehicle infractions) or found (either through adjudication or settlement) civilly liable for any violation of any federal or state health care fraud or abuse law. Executive further represents to the Company that he has not been sanctioned, excluded,
debarred, suspended, or otherwise prohibited from participation in a federal health care program pursuant to the provisions of 42 U.S.C. Section 1320a et seq. Executive further represents that he is not bound by any agreement that
prevents his entering into this Agreement or restricts or limits his abilities to perform his duties hereunder. 

  

	7.	Confidentiality and Non-Disclosure of Information. 

  

	 	7.1	Confidentiality. Executive shall not, during his employment with the Company or at any time thereafter, divulge, disclose, communicate, furnish, distribute, or make available
or accessible to anyone, without the Company’s prior written consent, any knowledge or information with respect to any confidential or secret aspect or trade secret of the Company or its Business which, if disclosed, may reasonably be expected
to have a material adverse effect on the Company or its Business (the “Confidential Information”). 

  

	 	7.2	 Ownership of Information. Executive recognizes that any and all Confidential Information and copies or reproductions or portions thereof relating to the
Company’s operations and activities made or received by Executive in the course of his employment are and shall be the exclusive property of the Company, and Executive holds and uses same as trustee and a fiduciary for the Company and, at all
times, subject to the Company’s sole control; and Executive will deliver same 

  

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to the Company at the termination of his employment, or earlier if so requested by the Company in writing, without retaining copies thereof in any form. All
patient and client files and records are the property of the Company, and Executive, upon the termination of his employment, shall not remove from the offices of the Company any patient or client files or records for any reason. All of such
Confidential Information, and/or any portion(s) thereof, which if lost or used by Executive outside the scope of his employment, could cause irreparable and continuing injury to the Company and its Business for which these may not be an adequate
remedy at law, and for which the Company is entitled to secure the relief afforded in Section 9, in addition to any other right or remedy available under law, equity, or this Agreement. Accordingly, Executive acknowledges that compliance with
the provisions of this Section 7 is necessary to protect the goodwill and other proprietary interests of the Company and is a material condition of employment. 

  

	8.	Restrictive Covenants. 

  

	 	8.1	Non-Solicitation/Non-Tamper Covenants. As an inducement to cause the Company to enter into this Agreement, and for all consideration contained herein and afforded hereby,
Executive covenants and agrees that during his employment and for a period of twenty-four (24) months after he ceases to be employed by the Company, regardless of the manner or cause of termination: 

  

	 	8.1.1	Solicitation of Business. He will not initiate any contact with, call upon, solicit business from, sell or render services to any Client (as defined below), referral source,
or patient of the Company or any affiliate of the Company within the area in which such entities conduct or actively solicit business, a descriptive list of which is included in Schedule A, which is attached hereto and expressly incorporated
herein (hereinafter referred to as “Restricted Areas”), for or on behalf of himself or any business, firm, proprietorship, corporation, partnership, company, association, entity, or venture engaged in the Business (hereinafter
referred to as a “Competing Business”), and Executive shall not directly or indirectly aid, assist, or consult with any other person, firm, or organization to do any of the aforesaid acts. For purposes of this Agreement, a
“Client(s)” is any individual or entity with which the Company has engaged in business or proposed business dealings. 

  

	 	8.1.2	Solicitation of Employees. He will not directly or indirectly, as principal, agent, owner, partner, stockholder, member, officer, director, employee, independent contractor,
representative, or consultant of any Competing Business, or in any individual or representative capacity hire or solicit, directly or indirectly, or cause (an)other(s) to hire or solicit, directly or indirectly, the employment of any officer, agent,
employee (inclusive of nurses, sales persons, office staff, or corporate personnel) of the Company or any affiliate of the Company, for the purpose of causing said individual(s) to terminate employment with the Company or any affiliate of the
Company and be employed by such Competing Business. 

  

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	 	8.1.3	Restricted Areas. The parties acknowledge that the Business is rapidly expanding, and it is the parties’ intent that Executive’s responsibilities extend to the
entirety of the service area in which the Company conducts business; and in order to prevent ongoing, repetitious amendments to this agreement solely for the purpose of updating the Restricted Areas, the parties agree that the Restricted Areas,
inclusive of Schedule A shall be self-amending to include all parishes, counties and States in which the Company conducts business or actively solicits business at any time during Executive’s employment with the Company, and in no event
shall such Restricted Area be less than that contained in Schedule A. In the event Company’s service area extends into parishes, counties and/or States beyond those specifically denominated in Schedule A, the parties intend and
agree that Executive’s continued employment thereafter shall serve as the parties’ constructive acceptance of an amendment to the Restricted Areas, to include such parishes, counties and/or states. 

  

	 	8.2	Employment Covenant. As an inducement to cause the Company to enter into this Agreement, and for other consideration contained herein, Executive covenants and agrees that
during his employment, and for a period of twenty-four (24) months after he ceases to be employed by the Company, regardless of the manner or cause of termination: He will not accept, engage, or commence employment with, or consult, contract,
or otherwise provide services to any Competing Business within the Restricted Areas. Executive acknowledges, represents, and agrees that such restriction does not nor will not preclude him from earning a livelihood. 

  

	 	8.3	Material Violation. A proven material violation of this Section 8 shall constitute a material and substantial breach of this Agreement and shall result in the imposition
of the Company’s remedies contained in Section 9 herein. 

  

	 	8.4	Covenants. It is understood by and between the parties that the covenants set forth in Sections 7 and 8 are essential elements of this Agreement, and that, but for the
Agreement of Executive to comply with such covenants, the Company would not have entered into this Agreement. Such covenants by Executive shall be construed as agreements independent of any other provision of this Agreement and the existence of any
claim or cause of action Executive may have against the Company, whether predicated on this Agreement or otherwise, shall not constitute a defense to the enforcement by the Company of these covenants. 

  

	 	8.5	 Executive Default and Deferred Compensation. In the event that Executive breaches any of the covenants set forth in Sections 7 and 8, in addition to any
other remedy of which the Company may be entitled to avail itself, Executive shall return to the Company any Severance Compensation already paid to 

  

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Executive at the time of said breach, and all of Executive’s rights to receive any portion of his Severance Compensation not already paid to him shall
immediately terminate. The right to receive unpaid Severance Compensation will not be reinstated notwithstanding any cessation by Executive of any breach by him of the covenants in Sections 7 and 8. 

  

	9.	Remedies. Executive hereby acknowledges, covenants, and agrees that in the event of a material default or breach under this Agreement, in addition to any other remedy
set forth herein: 

  

	 	9.1	Scope of Remedies. Executive acknowledges that the Company may suffer irreparable and continuing damages as a result of such breach and that its remedy at law will be
inadequate. Executive agrees that in the event of a violation or a breach of this Agreement, in addition to any other remedies available to it, the Company shall be entitled to an injunction restraining any such default or any other appropriate
decree of specific performance, without the requirement to prove actual damages or to post any bond or other security, and the Company shall also be entitled to any other equitable relief the court deems proper. 

  

	 	9.2	Non-Exclusivity of Remedies. Any and all of the Company’s remedies described in this Agreement shall not be exclusive, both as among themselves and as applied with other
modes of legal redress, and shall be in addition to any and all other remedies which the Company may have at law, contract, or in equity, including, but not limited to, the right to monetary damages. 

  

	10.	Additional Benefits. 

  

	 	10.1	Paid Time Off. Executive shall be entitled to paid time off based upon years of service in accordance with the Company’s paid time off policy for executive officers. In
addition, Executive shall be entitled to paid time off for Company holidays, as established by the Company’s Board. 

  

	 	10.2	Reimbursement of Expenses. Executive is entitled to incur reasonable travel and other expenses in connection with the Business and the performance of his duties under this
Agreement. The Company shall reimburse Executive for all reasonably incurred business expenses upon compliance by Executive with the Company’s policy therefor. All reimbursable travel and business expenses shall be in accordance with Company
policy. 

  

	 	10.3	Participation in Employee Benefit Plans. Until the termination of his employment in accordance with Section 5 herein, to the extent that Executive meets the eligibility
requirements entitling Executive to participate thereunder, Executive shall be entitled to participate in any life insurance plan, long-and short-term disability plan, incentive compensation plan, and group hospitalization, health or dental care
plan, as may be adopted or amended by the Company from time to time, subject to the Company’s right to modify or terminate any such plan. 

  

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	 	10.4	Participation in Deferred Compensation Plan. Until the termination of his employment in accordance with Section 5 herein, Executive shall be eligible for participation
in the Company’s deferred compensation plan effective January 1, 2008. 

  

	 	10.5	Participation in Amedisys, Inc. 401(k) Plan and Employee Stock Purchase Plan. Until the termination of his employment in accordance with Section 5 herein, Executive
shall be eligible for participation in the Company’s 401(k) Plan on the first day of the month following the execution date of this agreement, subject to the Company’s right to modify or terminate any such plan. Executive shall also be
eligible for participation in the Company’s Employee Stock Purchase Plan on the first day of the new fiscal quarter following the execution date of this Agreement, subject to the Company’s right to modify or terminate any such plan.

  

	 	10.6	Directors’ and Officers’ Insurance; Indemnity. Executive shall be named as a covered participant under the Company’s directors’ and officers’
liability insurance policy, and the Company will not reduce such coverage except as part of a reduction applicable to all officers of the Company. Further, Executive shall also be covered under the Company’s indemnification arrangements for its
officers. 

  

	11.	Severability/Savings Clause. The invalidity of any one or more of the words, phrases, sentences, clauses, sections, subdivisions, or subparagraphs contained in this
Agreement shall not affect the enforceability of the remaining portions of this Agreement or any part thereof, all of which are inserted conditionally on their being legally valid. If any court of competent and proper jurisdiction finds that this
Agreement is overly broad or otherwise unenforceable, for any reason whatsoever, then it is hereby agreed that this Agreement shall be reduced and/or amended so as to render it enforceable to the fullest extent allowable under the applicable law,
and that any court of competent jurisdiction shall have the power to alter the scope of any provision herein in order that said provision would be made legal and enforceable upon the effectiveness of said alteration. 

  

	12.	Successors/Assigns 

  

	 	12.1	Successors. This Agreement shall be binding upon all the parties hereto and their successors and assigns. For purposes of this Agreement, the term “successor” of
Company shall include any person or entity that, whether directly or indirectly, and/or whether by purchase, merger, consolidation, operation of law, assignment, or otherwise acquires or controls (with or without the consent of the Company’s
stockholders): (i) all or substantially all of the assets of Company or (ii) more than fifty percent (50%) of the total voting capital stock of the Company, and was not affiliated with or in common control of Company as of the date of
this Agreement. 

  

	 	12.2	Assignment. This Agreement shall be non-assignable by Executive without the written consent of the Company, it being understood that the obligations and performance of this
Agreement by Executive are entirely and wholly personal in nature. 

  

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	13.	Miscellaneous Provisions. 

  

	 	13.1	Amendment. No amendment, waiver, or modification of this Agreement or any provisions of this Agreement shall be valid unless in writing and duly executed by both parties.
However, Executive agrees that, as set forth in Section 8.1.3, Schedule A to this Agreement shall be self-amending to include all parishes, counties and states in which the Company or any of its affiliates conduct or actively solicit
business at any time during Executive’s employment hereunder. 

  

	 	13.2	Binding Agreement. This Agreement shall be binding and inure to the benefit of the parties and their respective heirs, legal representatives, and permitted successors and
assigns. 

  

	 	13.3	Waiver. Any waiver by any party of any breach of any provision of this Agreement shall not be considered as or constitute a continuing waiver or waiver of any other breach of
any provision of this Agreement. 

  

	 	13.4	Captions. Captions contained in this Agreement are inserted only as a matter of convenience or for reference and in no way define, limit, extend, or describe the scope of
this Agreement or the intent of any provisions of this Agreement. 

  

	 	13.5	Interpretation. No inference or interpretation of the provisions of this Agreement shall be made based on the authorship of this document by any particular party.

  

	 	13.6	Attorneys’ Fees. In the event of any litigation arising out of this Agreement, the prevailing party shall be entitled to recover from the other party its attorneys’
fees and costs, including those attorneys’ fees and costs incurred on appeal. 

  

	 	13.7	Prior Agreements. This Agreement supersedes and replaces all prior Agreements between the parties hereto (written or oral) dealing with the subject matter hereof.

  

	 	13.8	Governing Law and Forum. This Agreement shall be governed by, and interpreted in accordance with, the laws of the State of Louisiana. The parties stipulate and agree that
venue and jurisdiction for any controversies, disputes, or legal proceedings involving or arising out of this Agreement shall be proper in the Nineteenth Judicial District Court in the Parish of East Baton Rouge, State of Louisiana.

  

	 	13.9	Execution. It is the intention of the parties hereto that this Agreement will not be valid and binding upon the parties hereto until such time as this Agreement is executed
by both parties in accordance herewith. 

  

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	 	13.10	Counterparts. This Agreement may be executed in any number of counterparts, each of which shall be considered an original, but all of which shall together constitute one and
the same instrument. For purposes hereof, facsimile copies hereof and facsimile signatures hereof shall be authorized and deemed effective. 

  

	14.	Disputes. In the event that either party to this Agreement has any claim, right or cause of action against the other party to this Agreement, which the parties are
unable to settle by agreement between themselves, such claim, right or cause of action, to the extent that the relief sought by such party is for monetary damages or awards, will be determined by arbitration in accordance with the provisions of this
Section 14. 

  

	 	14.1	The party requesting arbitration will serve upon the other a demand therefor, in writing, specifying the matter to be submitted to arbitration, and nominating a competent
disinterested person to act as an arbitrator. Within fifteen (15) days after receipt of such written demand and nomination, the other party will, in writing, nominate a competent disinterested person, and the two arbitrators so designated will,
within fifteen (15) days thereafter, select a third arbitrator. The three arbitrators will give immediate written notice of such selection to the parties and will fix in said notice a time and place of the meeting of the arbitrators which will
be in Baton Rouge, Louisiana, whose all proceedings will be conducted, and will be held as soon as conveniently possible (but in no event later than forty-five (45) days after the appointment of the third arbitrator), at which time and place
the parties to the controversy will appear and be heard with respect to the right, claim or cause of action. In case the notified party or parties will fail to make a selection upon notice within the time period specified, the party asserting such
claim will appoint an arbitrator on behalf of the notified party. In the event that the first two arbitrators selected will fail to agree upon a third arbitrator within fifteen (15) days after their selection, then such arbitrator may, upon
application made by either of the parties to the controversy, be appointed by any judge of the United States District Court for the Middle District of Louisiana. 

  

	 	14.2.	 Each party will present such testimony, examinations and investigations in accordance with such procedures and regulations as may be determined by the arbitrators
and will also recommend to the arbitrators a monetary award to be adopted by the arbitrators as the complete disposition of such claim, right or cause of action. After hearing the parties in regard to the matter in dispute, the arbitrators will make
their determination with respect to such claim, right or cause of action, within thirty (30) days of the completion of the examination, by majority decision signed in writing (together with a brief written statement of the reasons for adopting
such recommendation), and will deliver such written determination to each of the parties. The decision of said arbitrators, absent fraud, duress or manifest error, will be final and binding upon the parties to such controversy and may be enforced in
any court of competent jurisdiction. The arbitrators may consult with and engage disinterested third parties to advise the arbitrators. The arbitrators shall not award any punitive damages. If any of the arbitrators selected hereunder should die,
resign or be unable to perform his or his 

  

 13 

	 	 
duties hereunder, the remaining arbitrators or any judge of the United States District Court for the Middle District of Louisiana shall select a replacement
arbitrator. The procedure set forth in this Section 14 for selecting the arbitrators shall be followed from time to time as necessary. As to any claim, controversy, dispute or disagreement that under the terms hereof is made subject to
arbitration, no lawsuit based on such matters shall be instituted by any of the parties, other than to compel arbitration proceedings or enforce the award of a majority of the arbitrators. All privileges under Louisiana and federal law, including
attorney-client and work-product privileges, shall be preserved and protected to the same extent that such privileges would be protected in a federal court proceeding applying Louisiana law. 

  

	 	14.3	The Company shall be responsible for advancing the cost of the arbitrators as well as the other costs of the arbitration. Each party will pay the fees and expenses of its own
counsel. 

  

	 	14.4	Notwithstanding any other provisions of this Section 14, in the event that a party against whom any claim, right or cause of action is asserted commences, or has commenced
against it, bankruptcy, insolvency or similar proceedings, the party or parties asserting such claim, right or cause of action will have no obligations under this Section 14 and may assert such claim, right or cause of action in the manner and
forum it deems appropriate, subject to applicable laws. No determination or decision by the arbitrators pursuant to this Section 14 will limit or restrict the ability of any party hereto to obtain or seek in any appropriate forum, any relief or
remedy that is not a monetary award or money damages. 

  

	 	14.5	Any court proceedings relating to this Agreement shall be filed exclusively in the federal and state courts domiciled in Baton Rouge, Louisiana, and the parties hereto consent to
the venue and jurisdiction of such courts. 

 [Signature page follows] 
  

 14 

 IN WITNESS WHEREOF, the parties have signed and executed this Agreement as of the day and year
first written hereinabove. 
  

			
	AMEDISYS, INC.
		
	By:	 	 /s/ Larry R. Graham

		 	Larry R. Graham
		 	Chief Operating Officer and President

  

	
	EXECUTIVE
	
	 /s/ Dale E. Redman

	Dale E. Redman

  

 15 

 SCHEDULE A 
 RESTRICTED AREA 
 (All counties/parishes encompassing the following cities/towns) 

 

											
	Selma	 	AL	 	Clermont	 	FL	 	Dalton	 	GA
	Demopolis	 	AL	 	Eustis	 	FL	 	Jeffersonville	 	IN
	Thomasville	 	AL	 	Lady Lake	 	FL	 	New Albany	 	IN
	Fort Deposit	 	AL	 	Ocala	 	FL	 	Evansville	 	IN
	Huntsville	 	AL	 	Palatka	 	FL	 	Indianapolis	 	IN
	New Hope	 	AL	 	Gainesville	 	FL	 	Bloomington	 	IN
	Montgomery	 	AL	 	St. Augustine	 	FL	 	Fort Wayne	 	IN
	Clanton	 	AL	 	Daytona Beach	 	FL	 	Louisville	 	KY
	Mobile	 	AL	 	Deland	 	FL	 	Shepherdsville	 	KY
	Citronelle	 	AL	 	Jacksonville	 	FL	 	Louisville (East)	 	KY
	Foley	 	AL	 	Palm Coast	 	FL	 	Louisville	 	KY
	Bay Minette	 	AL	 	Ft. Myers	 	FL	 	Mt. Sterling	 	KY
	Brewton	 	AL	 	Naples	 	FL	 	Lexington	 	KY
	Blountsville	 	AL	 	Tampa (South)	 	FL	 	Mt. Sterling	 	KY
	Jasper	 	AL	 	Lake Wales	 	FL	 	Covington	 	KY
	Tuscaloosa	 	AL	 	Zephyrhills	 	FL	 	Boyce	 	LA
	Brent	 	AL	 	Tallahassee	 	FL	 	Lafayette	 	LA
	Fayette	 	AL	 	Pensacola	 	FL	 	Monroe	 	LA
	Reform	 	AL	 	Macon	 	GA	 	Houma	 	LA
	Anniston	 	AL	 	Milledgeville	 	GA	 	Metairie	 	LA
	Gadsden	 	AL	 	Butler	 	GA	 	Marrero	 	LA
	Sylacauga	 	AL	 	Columbus	 	GA	 	Cutoff (LaRose)	 	LA
	Opelika	 	AL	 	Covington	 	GA	 	Hammond	 	LA
	Homewood	 	AL	 	Madison	 	GA	 	Mandeville	 	LA
	Ft. Payne	 	AL	 	Loganville	 	GA	 	Gonzales	 	LA
	Ozark	 	AL	 	Madison	 	GA	 	Baton Rouge	 	LA
	Homewood	 	AL	 	Douglasville	 	GA	 	Baton Rouge	 	LA
	Gadsden	 	AL	 	LaGrange	 	GA	 	Glen Burnie	 	MD
	Montgomery	 	AL	 	Fayetteville	 	GA	 	Hillsboro	 	MO
	Van Buren	 	AR	 	Stockbridge	 	GA	 	St. Louis	 	MO
	Van Buren	 	AR	 	Dallas	 	GA	 	Joplin	 	MO
	Peoria	 	AZ	 	Atlanta	 	GA	 	Springfield	 	MO
	Winter Haven	 	FL	 	Atlanta (College Park)	 	GA	 	Biloxi	 	MS
	Lakeland	 	FL	 	Kennesaw	 	GA	 	Vicksburg	 	MS
	Brandon	 	FL	 	Commerce	 	GA	 	Jackson	 	MS
	Bradenton	 	FL	 	Atlanta	 	GA	 	Collins	 	MS
	Sun City Center	 	FL	 	Tucker (Decatur)	 	GA	 	Hattiesburg	 	MS
	Sun City Center	 	FL	 	Lawrenceville	 	GA	 	Laurel	 	MS
	Brandon	 	FL	 	Winder	 	GA	 	Chapel Hill	 	NC
	Miami Lakes	 	FL	 	Lavonia	 	GA	 	Raleigh	 	NC
	Village of Palmetto Bay	 	FL	 	Toccoa	 	GA	 	Winston-Salem	 	NC
	Fort Lauderdale	 	FL	 	Clayton	 	GA	 	Lexington	 	NC
	Boynton Beach	 	FL	 	Demorest	 	GA	 	Fayetteville	 	NC
	West Palm Beach	 	FL	 	Hartwell	 	GA	 	Winston-Salem	 	NC
	Vero Beach	 	FL	 	Danielsville	 	GA	 	Dayton	 	OH
	Bradenton (West)	 	FL	 	Gainesville	 	GA	 	Cincinnati	 	OH
	Jensen Beach	 	FL	 	Hiawassee	 	GA	 	Oregon	 	OH
	Sun City	 	FL	 	Cumming	 	GA	 	Stilwell	 	OK
	Sebring	 	FL	 	Ft. Oglethorpe	 	GA	 	Gore	 	OK
	Lakeland (South)	 	FL	 	Summerville	 	GA	 	Tahlequah	 	OK
	Clearwater	 	FL	 	Dalton	 	GA	 	Tulsa	 	OK
	Port Richey	 	FL	 	Trenton	 	GA	 	Claremore	 	OK
	St. Petersburg	 	FL	 	Rome	 	GA	 	Bartlesville	 	OK
	Winter Park	 	FL	 	Cedartown	 	GA	 	Grove	 	OK
	Melbourne	 	FL	 	Cartersville	 	GA	 	Oklahoma City	 	OK
	Kissimmee	 	FL	 	Jasper	 	GA	 	Seminole	 	OK
	Titusville	 	FL	 	Blue Ridge	 	GA	 	Sulphur	 	OK
	Sarasota	 	FL	 	Valdosta	 	GA	 	Enid	 	OK
	Port Charlotte	 	FL	 	Griffin	 	GA	 	Stroud	 	OK
	Spring Hill	 	FL	 	Thomaston	 	GA	 	Yukon	 	OK
	Crystal River	 	FL	 	Augusta	 	GA	 	Oklahoma City	 	OK

  

 Schedule A – Page 1 of 2 

											
	Prague	 	OK	 	Hampton	 	TN	 	McKinney	 	TX
	Muskogee	 	OK	 	Mountain City	 	TN	 	Dallas	 	TX
	Charleston	 	SC	 	Jackson	 	TN	 	Houston (North)	 	TX
	Clinton	 	SC	 	Dyersburg	 	TN	 	Conroe	 	TX
	Greenville	 	SC	 	Paris	 	TN	 	Huntsville	 	TX
	North Charleston	 	SC	 	Savannah	 	TN	 	Beaumont	 	TX
	Walterboro	 	SC	 	Knoxville	 	TN	 	Duffield	 	VA
	Mt. Pleasant	 	SC	 	Knoxville	 	TN	 	Lebanon	 	VA
	Charleston	 	SC	 	Harriman	 	TN	 	Clintwood	 	VA
	Hilton Head Island	 	SC	 	Jefferson City	 	TN	 	Midlothian	 	VA
	West Columbia	 	SC	 	LaFollette	 	TN	 	Charlottesville	 	VA
	Newberry	 	SC	 	Oak Ridge	 	TN	 	Jetersville	 	VA
	Orangeburg	 	SC	 	Maryville	 	TN	 	Goochland	 	VA
	Sumter	 	SC	 	Newport	 	TN	 	Petersburg	 	VA
	Georgetown	 	SC	 	Sevierville	 	TN	 	Mechanicsville	 	VA
	Kingstree	 	SC	 	Bartlett	 	TN	 	Fredericksburg	 	VA
	Myrtle Beach	 	SC	 	Morristown	 	TN	 	Roanoke	 	VA
	Georgetown	 	SC	 	Greeneville	 	TN	 	Martinsville	 	VA
	Camden	 	SC	 	Harrogate	 	TN	 	Lynchburg	 	VA
	Conway	 	SC	 	Rogersville	 	TN	 	Lexington	 	VA
	Nashville	 	TN	 	Sneedville	 	TN	 	Newport News	 	VA
	Gordonsville	 	TN	 	Tazewell	 	TN	 	Chesapeake	 	VA
	Portland	 	TN	 	Murfreesboro (North)	 	TN	 	Annandale	 	VA
	Clarksville	 	TN	 	Pulaski	 	TN	 	Wytheville	 	VA
	Dickson	 	TN	 	Spring Hill	 	TN	 	Salem	 	VA
	Johnson City	 	TN	 	Memphis	 	TN	 	Charleston	 	WV
	Bristol	 	TN	 	Chattanooga	 	TN	 	Oak Hill	 	WV
	Kingsport	 	TN	 	Athens	 	TN	 	Ronceverte	 	WV
	Chattanooga	 	TN	 	South Pittsburg	 	TN	 		 	
	Athens	 	TN	 	Elizabethton	 	TN	 		 	
	Pikeville	 	TN	 	Kingsport	 	TN	 		 	
	Dayton	 	TN	 	Greeneville	 	TN	 		 	
	Lenoir City	 	TN	 	Knoxville	 	TN	 		 	
	South Pittsburg	 	TN	 	Morristown	 	TN	 		 	
	Dayton	 	TN	 	LaFollette	 	TN	 		 	
	Winchester	 	TN	 	Nashville (East)	 	TN	 		 	
	McMinnville	 	TN	 	Chattanooga	 	TN	 		 	
	Livingston	 	TN	 	Corpus Christ	 	TX	 		 	
	Oneida	 	TN	 	Portland	 	TX	 		 	
	Jamestown	 	TN	 	Kingsville	 	TX	 		 	
	Crossville	 	TN	 	Fort Worth	 	TX	 		 	
	Memphis	 	TN	 	Arlington	 	TX	 		 	
	Oakland	 	TN	 	Denton	 	TX	 		 	
	Covington	 	TN	 	Cleburne	 	TX	 		 	
	Nashville (South)	 	TN	 	Houston	 	TX	 		 	
	Murfreesboro	 	TN	 	League City	 	TX	 		 	
	Elizabethton	 	TN	 	Dallas	 	TX	 		 	
	Erwin	 	TN	 	Rockwall	 	TX	 		 	

  

 Schedule A – Page 2 of 2 

 SEVERANCE AGREEMENT ADDENDUM 
 THIS SEVERANCE AGREEMENT (this “Agreement”) entered into as of the          day of
            , 20    , (“Effective Date”) by and between Amedisys, Inc., a corporation organized under the laws of the State of Delaware,
(“Company”) and Dale E. Redman (“Employee”), a person of the full age of majority. 
  

	 	1.	Severance of Relationship. Effective as of the date first written above, Employee shall no longer be employed by Company or any of its affiliates
(“Termination”). 

  

	 	2.	Severance Compensation. In consideration of the obligations contained herein, Company shall pay Employee severance compensation in an aggregate amount equivalent to
(i) Employee’s current monthly salary times (ii) the number of full months that Employee has been employed by the Company, up to a maximum of twelve (12) months (hereinafter referred to as “Severance
Compensation”), payable in one lump sum no later than 10 business days after the Effective Date of this Agreement. Employee acknowledges that all Severance Compensation paid pursuant this Agreement will be subject to all applicable federal
and state tax withholdings and deductions. 

  

	 	3.	Obligations of Employee 

  

	 	a.	Employee agrees to return, upon termination, all property of Company in Employee’s possession, including but not limited to, keys to any Company building or office, pager, cell
phone, computer equipment, books, manuals, office equipment and office supplies. 

  

	 	b.	Employee shall not divulge, furnish or make accessible to anyone, without Company’s prior written consent, any knowledge or information with respect to any confidential or
secret aspect of Amedisys’ business or the business of any Amedisys affiliate or subsidiary, which, if disclosed, may reasonably be expected to have a material adverse effect on Company’s business (“Confidential Information”).
Employee recognizes that all Confidential Information and copies or reproductions thereof, relating to Company’s operations and activities, or the operations and activities of any Company affiliate, made or received by Employee in the course of
his/his employment are the exclusive property of Company and/or its affiliates, as the case may be. All of such Confidential Information, which if misappropriated or used by Employee to the detriment of Company, could cause irreparable and
continuing injury to Company’s business for which these may not be an adequate remedy at law. Employee acknowledges that compliance with the provisions of this Section is necessary to protect the goodwill and other proprietary interests of
Company and its affiliates and is a material condition of this Agreement. 

  

	 	c.	Employee agrees not to disclose, either directly or indirectly, any information regarding the existence or substance of this Agreement to any person or party, except to an attorney
or accountant retained by Employee, or under direction of subpoena or court order. 

	 	d.	In consideration of the Severance Compensation obligation of Amedisys herein, Employee covenants and agrees that, for a period of twenty-four (24) months from the Effective
Date of this Addendum, he will continue to abide by the Restrictive Covenants contained in Section 8 of Executive’s Employment Agreement, which are expressly incorporated herewith and made a part of this Addendum. 

 

	 	e.	Employee shall not speak negatively regarding Company or any affiliate thereof, or otherwise cause destruction to the good will or going concern of Company’s business, or the
business of any Company affiliate. 

  

	 	f.	Employee agrees to forever hold Company and/or any Company affiliate and/or subsidiary harmless for, from, and against any claim(s), liability(s), damage(s), or cause(s) of action
Employee may have against such entities, arising out of Employee’s employment with and separation of employment from Company and/or any Company affiliate, including but not limited to, any action for wrongful termination, any action for breach
of contract, any action under the Fair Labor Standards Act (FLSA), Older Worker Benefit Protection Act, Title VII of the Civil Rights Act of 1964, as amended, the Age Discrimination in Employment Act (ADEA), the Older Workers Benefit Protection Act
(OWPBA), the Worker Adjustment and Retraining Notification Act (WARN), or any action under any other federal or state law pertaining to any form of discrimination. 

  

	 	4.	Remedies 

  

	 	a.	It is understood by and between the parties that the foregoing covenants contained in Section 3 are essential elements of this Agreement, and that but for the Agreement of
Employee to comply with such covenants, Company would not have entered into this Agreement. Such covenants by Employee shall be construed as agreements independent of any other provision of this Agreement and the existence of any claim or cause of
action Employee may have against Company whether predicated on this Agreement or otherwise, shall not constitute a defense to the enforcement by Company of these covenants. 

  

	 	b.	If Employee breaches any requirement of Section 3 hereinabove, in addition to any other remedy to which the Company may be entitled, all of Employee’s rights to receive
any portion of the severance compensation not already paid to Employee shall terminate, and Employee shall be deemed to have so waived such rights. The right to receive unpaid severance compensation will not be reinstated notwithstanding any
cessation by Employee of his breach of Section 3. 

  

	 	c.	Employee hereby acknowledges, covenants and agrees that in the event of a material default or breach by Employee under this Agreement: 

  

	 	i.	Company may suffer irreparable and continuing damages as a result of such breach and its remedy at law will be inadequate. Employee agrees that in the event of a violation or breach
of this Agreement, in addition to any other remedies available to it, Company shall be entitled to an injunction restraining any such default or any other appropriate decree of specific performance, with the requirement to prove actual damages or to
post any bond or any other security being waived, and to any other equitable relief the court deems proper; and 

	 	ii.	Employee shall be obligated to pay all costs incurred by Company in the enforcement of this Agreement, including but not limited to attorneys’ fees and court costs.

  

	 	iii.	Any and all of Amedisys’ remedies described in this Agreement shall not be exclusive and shall be in addition to any other remedies which Amedisys may have at law or in equity
including, but not limited to, the right to monetary damages. 

  

	 	5.	Miscellaneous 

  

	 	a.	Time to Consider Agreement/Right to Revoke Acceptance 

  

	 	i.	Employee represents and certifies that he/he has carefully read and fully understands all of the provisions and effects of the Agreement. Employee represents that he/he has been
advised by Company to seek legal advice of counsel regarding the Agreement prior to executing same and that he/he has been afforded a reasonable time, not less than twenty-one (21) days, in which to seek this advice. Employee further represents
that he/he is voluntarily entering into the Agreement and that neither Company nor any affiliate thereof, nor any of their respective agents, representatives, or attorneys have made any representations other than those set forth herein.

  

	 	ii.	Employee understands that for a period of seven (7) days after execution of the Agreement, Employee will retain the right to revoke the Agreement. Employee further understands
that the Agreement shall not become effective or enforceable until the seven (7) day revocation period has expired. 

  

	 	iii.	The Agreement does not attempt to waive any claims that may arise after its date of execution. The Agreement is intended to be construed as broadly as possible and is intended to
cover Employee’s entire period of employment by Company and any of Company’s owners, managers, predecessors, successors, or their respective affiliates. 

	 	b.	Amendment. No amendment, waiver or modification of this Agreement or any provisions of this Agreement shall be valid unless in writing and duly executed by both parties.

  

	 	c.	Successors. This Agreement shall be binding upon the parties hereto and their successors and assigns. For purposes of this Agreement, the term “successor” of
Company shall include any person or entity, whether direct or indirect, whether by purchase, merger, consolidation, operation of law, assignment, or otherwise acquires or controls: (i) all or substantially all of the assets of Company, or
(ii) more than fifty percent (50%) of the total voting capital stock, and was not affiliated with or in common control of Amedisys as of the date of this Agreement. 

  

	 	d.	Assignment. This Agreement shall be non-assignable by Employee without the written consent of Company, it being understood that the obligations and performance of this
Agreement by Executive are personal in nature. 

  

	 	e.	Waiver. Any waiver by any party of any breach of any provision of this Agreement shall not be considered as or constitute a continuing waiver or waiver of any other breach of
any provision of this Agreement. 

  

	 	f.	Severability. The invalidity of any one or more of the words, phrases, sentences, clauses, sections, subdivisions, or subparagraphs contained in this Agreement shall not
affect the enforceability of the remaining portions of this Agreement or any part thereof, all of which are inserted conditionally on their being legally valid. If any court of proper jurisdiction finds that this agreement is overly broad or
unenforceable for any reason whatsoever, then it is hereby agreed that this Agreement will be reduced or amended to be enforceable to the extent allowable under applicable law, and that any court of competent jurisdiction shall have the power to
alter the scope of any provision herein in order that said provision would be made legal and enforceable upon the effectiveness of said alteration. 

  

	 	g.	Interpretation. Should any provision of this Agreement require judicial interpretation, the parties hereto agree that the court interpreting or construing the same shall not
apply a presumption that the terms hereof shall be more strictly construed against one party by reason of the rule of construction that a document is to be construed more strictly against the party which itself or through its agent prepared the
same. 

  

	 	h.	Captions. Captions contained in this Agreement are inserted only as a matter of convenience or for reference and in no way define, limit, extend, or describe the scope of
this Agreement or the intent of any provisions of this Agreement. 

	 	i.	Prior Agreements. Except as may otherwise be provided in Section 8 and Section 9(c) of the Employment Agreement between Amedisys and Executive, this Agreement
supersedes and replaces all prior agreements between the parties hereto dealing with the subject matter hereof. 

  

	 	j.	Governing Law. This Agreement shall be governed by the laws of the State of Louisiana, without regard to the conflicts of laws provisions thereof. 

 

	 	k.	Execution. It is the intention of the parties hereto that this Agreement will not be valid and binding upon the parties hereto until such time as this Agreement is executed
by both parties in accordance herewith. 

  

	 	l.	Counterparts. This Agreement may be executed in any number of counterparts, each of which shall be considered an original, but all of which shall together constitute one and
the same instrument. For purposes hereof, facsimile copies hereof and facsimile signatures hereof shall be authorized and deemed effective. 

 IN WITNESS WHEREOF, the parties have executed this Severance Agreement as of the day and year first written hereinabove. 
  

			
	AMEDISYS INC.
		
	By:	 	 
		 	[name]
		 	[title]

  

	
	EMPLOYEE:
	
	 
	 Dale E. RedmanAmended and Restated Trust Agreement

 EXHIBIT 4.1 
 CAPITAL ONE AUTO FINANCE TRUST 2007-A 
 AMENDED AND RESTATED 

TRUST AGREEMENT 
 between

 CAPITAL ONE AUTO RECEIVABLES, LLC, 
 as the Depositor 
 and 
 WILMINGTON TRUST COMPANY, 
 as the Owner Trustee 
 Dated as of February 15, 2007 

 TABLE OF CONTENTS 
  

							
	 	  	Page
	 ARTICLE I
	 		 	DEFINITIONS	  	1
		 	 SECTION 1.1.
	 	 Capitalized Terms
	  	1
		 	 SECTION 1.2.
	 	 Other Interpretive Provisions
	  	1
	 ARTICLE II
	 		 	ORGANIZATION	  	2
		 	 SECTION 2.1.
	 	 Name
	  	2
		 	 SECTION 2.2.
	 	 Office
	  	2
		 	 SECTION 2.3.
	 	 Purposes and Powers
	  	2
		 	 SECTION 2.4.
	 	 Appointment of the Owner Trustee
	  	3
		 	 SECTION 2.5.
	 	 Initial Capital Contribution of Trust Estate
	  	3
		 	 SECTION 2.6.
	 	 Declaration of Trust
	  	3
		 	 SECTION 2.7.
	 	 Organizational Expenses; Liabilities of the Holders
	  	3
		 	 SECTION 2.8.
	 	 Title to the Trust Estate
	  	4
		 	 SECTION 2.9.
	 	 Representations and Warranties of the Seller
	  	4
		 	 SECTION 2.10.
	 	 Situs of Issuer
	  	5
	 ARTICLE III
	 		 	RESIDUAL INTEREST AND TRANSFER OF CERTIFICATE	  	5
		 	 SECTION 3.1.
	 	 Initial Ownership
	  	5
		 	 SECTION 3.2.
	 	 Authorization of the Certificates
	  	5
		 	 SECTION 3.3.
	 	 Form of the Certificate
	  	5
		 	 SECTION 3.4.
	 	 Registration of Certificates
	  	5
		 	 SECTION 3.5.
	 	 Transfer of Certificate
	  	6
		 	 SECTION 3.6.
	 	 Lost, Stolen, Mutilated or Destroyed Certificates
	  	7
	 ARTICLE IV
	 		 	ACTIONS BY OWNER TRUSTEE	  	8
		 	 SECTION 4.1.
	 	 Prior Notice to Residual Interestholder with Respect to Certain Matters
	  	8
		 	 SECTION 4.2.
	 	 Action by Residual Interestholder with Respect to Certain Matters
	  	8
		 	 SECTION 4.3.
	 	 Action by Residual Interestholder with Respect to Bankruptcy
	  	8
		 	 SECTION 4.4.
	 	 Restrictions on Residual Interestholder’s Power
	  	9
		 	 SECTION 4.5.
	 	 Majority Control
	  	9
		 	 SECTION 4.6.
	 	 Rights of Note Insurer
	  	9
	 ARTICLE V
	 		 	APPLICATION OF TRUST FUNDS; CERTAIN DUTIES	  	9
		 	 SECTION 5.1.
	 	 Application of Trust Funds
	  	9
		 	 SECTION 5.2.
	 	 Method of Payment
	  	9
		 	 SECTION 5.3.
	 	 Sarbanes-Oxley Act
	  	9
		 	 SECTION 5.4.
	 	 Signature on Returns
	  	10
	 ARTICLE VI
	 		 	AUTHORITY AND DUTIES OF OWNER TRUSTEE	  	10
		 	 SECTION 6.1.
	 	 General Authority
	  	10

  

 -i- 

 TABLE OF CONTENTS 
 (continued) 
  

							
	 	  	Page
		 	 SECTION 6.2.
	 	 General Duties
	  	10
		 	 SECTION 6.3.
	 	 Action upon Instruction
	  	11
		 	 SECTION 6.4.
	 	 No Duties Except as Specified in this Agreement or in Instructions
	  	11
		 	 SECTION 6.5.
	 	 No Action Except under Specified Documents or Instructions
	  	12
		 	 SECTION 6.6.
	 	 Restrictions
	  	12
	 ARTICLE VII
	 		 	CONCERNING OWNER TRUSTEE	  	12
		 	 SECTION 7.1.
	 	 Acceptance of Trusts and Duties
	  	12
		 	 SECTION 7.2.
	 	 Furnishing of Documents
	  	14
		 	 SECTION 7.3.
	 	 Representations and Warranties
	  	14
		 	 SECTION 7.4.
	 	 Reliance; Advice of Counsel
	  	15
		 	 SECTION 7.5.
	 	 Not Acting in Individual Capacity
	  	15
		 	 SECTION 7.6.
	 	 The Owner Trustee May Own Notes
	  	15
	 ARTICLE VIII
	 		 	COMPENSATION OF OWNER TRUSTEE	  	16
		 	 SECTION 8.1.
	 	 The Owner Trustee’s Compensation
	  	16
		 	 SECTION 8.2.
	 	 Indemnification
	  	16
		 	 SECTION 8.3.
	 	 Payments to the Owner Trustee
	  	16
	 ARTICLE IX
	 		 	TERMINATION OF TRUST AGREEMENT	  	17
		 	 SECTION 9.1.
	 	 Termination of Trust Agreement
	  	17
		 	 SECTION 9.2.
	 	 Dissolution of the Issuer
	  	17
		 	 SECTION 9.3.
	 	 Limitations on Termination
	  	17
	 ARTICLE X
	 		 	SUCCESSOR OWNER TRUSTEES AND ADDITIONAL OWNER TRUSTEES	  	17
		 	 SECTION 10.1.
	 	 Eligibility Requirements for the Owner Trustee
	  	17
		 	 SECTION 10.2.
	 	 Resignation or Removal of the Owner Trustee
	  	18
		 	 SECTION 10.3.
	 	 Successor Owner Trustee
	  	18
		 	 SECTION 10.4.
	 	 Merger or Consolidation of the Owner Trustee
	  	19
		 	 SECTION 10.5.
	 	 Appointment of Co-Trustee or Separate Trustee
	  	19
	 ARTICLE XI
	 		 	MISCELLANEOUS	  	21
		 	 SECTION 11.1.
	 	 Amendments
	  	21
		 	 SECTION 11.2.
	 	 No Legal Title to Trust Estate in Residual Interestholder
	  	22
		 	 SECTION 11.3.
	 	 Limitations on Rights of Others
	  	22
		 	 SECTION 11.4.
	 	 Notices
	  	22
		 	 SECTION 11.5.
	 	 Severability
	  	23
		 	 SECTION 11.6.
	 	 Separate Counterparts
	  	23
		 	 SECTION 11.7.
	 	 Successors and Assigns
	  	23
		 	 SECTION 11.8.
	 	 No Petition
	  	23
		 	 SECTION 11.9.
	 	 Headings
	  	24

  

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 TABLE OF CONTENTS 
 (continued) 
  

									
	  	 	 	 	 	  	Page
		  		 	 SECTION 11.10.
	 	GOVERNING LAW	  	24
		  		 	 SECTION 11.11.
	 	Limitation of Rights	  	24
		  		 	 SECTION 11.12.
	 	Information to Be Provided by the Owner Trustee	  	25
		  		 	 SECTION 11.13.
	 	Information Request	  	25

  

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 This AMENDED AND RESTATED TRUST AGREEMENT is made as of February 15, 2007 (as from
time to time amended, supplemented or otherwise modified and in effect, this “Agreement”) between CAPITAL ONE AUTO RECEIVABLES, LLC, a Delaware limited liability company, as the depositor (the “Seller”), and
WILMINGTON TRUST COMPANY, a Delaware banking corporation, as the owner trustee (the “Owner Trustee”). 
 RECITALS

 WHEREAS, the Seller and the Owner Trustee entered into that certain Trust Agreement dated as of January 10, 2007 (the
“Original Trust Agreement”), pursuant to which the Issuer (as defined below) was created; and 
 WHEREAS, in connection with
the issuance of the Notes, the parties have agreed to amend and restate the Original Trust Agreement; 
 NOW THEREFORE, in consideration of
the mutual agreements herein contained, and of other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the parties agree as follows: 
 ARTICLE I 
 DEFINITIONS 
 SECTION 1.1. Capitalized Terms. Unless otherwise indicated, capitalized terms used in this Agreement are defined in Appendix A to the Sale
and Servicing Agreement dated as of the date hereof (as from time to time amended, supplemented or otherwise modified and in effect, the “Sale and Servicing Agreement”) among the Issuer, the Seller, Capital One Auto Finance, Inc.,
as Servicer, and The Bank of New York, as Indenture Trustee, as the same may be amended, modified or supplemented from time to time. 
 SECTION 1.2. Other Interpretive Provisions. All terms defined in this Agreement shall have the defined meanings when used in any certificate or other document delivered pursuant hereto unless otherwise defined therein. For purposes
of this Agreement and all such certificates and other documents, unless the context otherwise requires: (a) accounting terms not otherwise defined in this Agreement, and accounting terms partly defined in this Agreement to the extent not defined,
shall have the respective meanings given to them under generally accepted accounting principles; (b) terms defined in Article 9 of the UCC as in effect in the State of Delaware and not otherwise defined in this Agreement are used as defined in that
Article; (c) the words “hereof,” “herein” and “hereunder” and words of similar import refer to this Agreement as a whole and not to any particular provision of this Agreement; (d) references to any Article, Section,
Schedule or Exhibit are references to Articles, Sections, Schedules and Exhibits in or to this Agreement, and references to any paragraph, subsection, clause or other subdivision within any Section or definition refer to such paragraph, subsection,
clause or other subdivision of such Section or definition; (e) the term “including” means “including without limitation”; (f) references to any law or regulation refer to that law or regulation as amended from time to time and
include any successor law or regulation; and (g) references to any Person include that Person’s successors and assigns. 

 ARTICLE II 
 ORGANIZATION 
 SECTION 2.1. Name. The trust created under the Original Trust Agreement shall
be known as “Capital One Auto Finance Trust 2007-A” (the “Issuer”), in which name the Owner Trustee may conduct the business of such trust, make and execute contracts and other instruments on behalf of such trust and sue
and be sued. 
 SECTION 2.2. Office. The office of the Issuer shall be in care of the Owner Trustee at the Corporate Trust Office or
at such other address as the Owner Trustee may designate by written notice to the Residual Interestholder, the Seller and the Administrator. 
 SECTION 2.3. Purposes and Powers. The purpose of the Issuer is, and the Issuer shall have the power and authority, to engage in the following activities: 
 (a) to issue the Notes pursuant to the Indenture and, if so requested by the Residual Interestholder, to issue the Certificate(s),
pursuant to this Agreement, and to sell, transfer and exchange the Notes and the Certificate(s) and to pay interest on and principal of the Notes and distributions to the Residual Interestholder; 
 (b) to enter into and perform its obligations under any interest rate protection agreement or agreements relating to the Notes between the
Issuer and one or more counterparties, including any confirmations, evidencing the transactions thereunder, each of which is an interest rate swap, an interest rate cap, an obligation to enter into any of the foregoing, or any combination of any of
the foregoing; 
 (c) to acquire the property and assets set forth in the Sale and Servicing Agreement from the Seller
pursuant to the terms thereof, to make deposits to and withdrawals from the Collection Account, the Principal Distribution Account, the Reserve Account and the Pre-Funding Account and to pay the organizational, start-up and transactional expenses of
the Issuer; 
 (d) to assign, Grant, transfer, pledge, mortgage and convey the Trust Estate pursuant to the Indenture and to
hold, manage and distribute to the Residual Interestholder any portion of the Trust Estate released from the lien of, and remitted to the Issuer pursuant to, the Indenture; 
 (e) to enter into and perform its obligations under the Transaction Documents to which it is a party; 
 (f) to engage in those activities, including entering into agreements, that are necessary, suitable or convenient to accomplish the
foregoing or are incidental thereto or connected therewith; and 
 (g) subject to compliance with the Transaction Documents,
to engage in such other activities as may be required in connection with conservation of the Trust Estate and the making of distributions to the Residual Interestholder and the Noteholders. 
  

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 The Owner Trustee is hereby authorized to engage in the foregoing activities on behalf of the Issuer. Neither the Issuer
nor the Owner Trustee on behalf of the Issuer shall engage in any activity other than in connection with the foregoing or other than as required or authorized by the terms of this Agreement or the other Transaction Documents. 
 SECTION 2.4. Appointment of the Owner Trustee. The Seller hereby appoints the Owner Trustee as trustee of the Issuer effective as of the date
hereof, to have all the rights, powers and duties set forth herein. 
 SECTION 2.5. Initial Capital Contribution of Trust Estate.
As of the date of the Original Trust Agreement, the Seller sold, assigned, transferred, conveyed and set over to the Owner Trustee the sum of $1. The Owner Trustee hereby acknowledges receipt in trust from the Seller, as of such date, of the
foregoing contribution, which shall constitute the initial Trust Estate and shall be deposited in the Collection Account. 
 SECTION 2.6.
Declaration of Trust. The Owner Trustee hereby declares that it will hold the Trust Estate in trust upon and subject to the conditions set forth herein for the use and benefit of the Residual Interestholder, subject to the obligations of the
Issuer under the Transaction Documents. It is the intention of the parties hereto that the Issuer constitute a statutory trust under the Statutory Trust Statute and that this Agreement constitute the governing instrument of such statutory trust. It
is the intention of the parties hereto that, solely for income and franchise tax purposes, the Issuer will be disregarded as an entity separate from the Seller, the Seller will be disregarded as an entity separate from COAF and the Notes will be
characterized as debt. The parties agree that, unless otherwise required by appropriate tax authorities, the Issuer will not file or cause to be filed annual or other necessary returns, reports and other forms consistent with the characterization of
the Issuer as an entity separate from its owner. In the event that the Issuer is deemed to have more than one beneficial owner for federal income tax purposes, the Issuer will file returns, reports and other forms consistent with the
characterization of the Issuer as a partnership, and this Agreement shall be amended to include such provisions as may be required under Subchapter K of the Internal Revenue Code of 1986, as amended. Effective as of the date hereof, the Owner
Trustee shall have all rights, powers and duties set forth herein and in the Statutory Trust Statute with respect to accomplishing the purposes of the Issuer. The Owner Trustee filed the Certificate of Trust with the Secretary of State of the State
of Delaware as required by Section 3810(a) of the Statutory Trust Statute. Notwithstanding anything herein or in the Statutory Trust Statute to the contrary, it is the intention of the parties hereto that the Issuer constitute a “business
trust” within the meaning of Section 101(9)(A)(v) of the Bankruptcy Code. 
 SECTION 2.7. Organizational Expenses; Liabilities of the
Holders. 
 (a) The Servicer shall pay organizational expenses of the Issuer as they may arise. 
 (b) No Residual Interestholder (including the Seller) shall have any personal liability for any liability or obligation of the Issuer.

  

 3 

 SECTION 2.8. Title to the Trust Estate. Legal title to all of the Trust Estate shall be vested at
all times in the Issuer as a separate legal entity. 
 SECTION 2.9. Representations and Warranties of the Seller. The Seller hereby
represents and warrants to the Owner Trustee that: 
 (a) Existence and Power. The Seller is a Delaware limited
liability company validly existing and in good standing under the laws of the State of Delaware and has, in all material respects, full power and authority to own its assets and operate its business as presently owned or operated, and to execute,
deliver and perform its obligations under the Transaction Documents to which it is a party. The Seller has obtained all necessary licenses and approvals in all jurisdictions where the failure to do so would materially and adversely affect the
ability of the Seller to perform its obligations under the Transaction Documents and the Underwriting Agreement. 
 (b)
Authorization and No Contravention. The execution, delivery and performance by the Seller of the Underwriting Agreement and each Transaction Document to which it is a party (i) have been duly authorized by all necessary action on
the part of the Seller and (ii) do not violate or constitute a default under (A) any applicable law, rule or regulation, (B) its organizational instruments or (C) any material indenture or material agreement or instrument to
which the Seller is a party or by which it its properties are bound (other than violations of such laws, rules, regulations, indenture or agreements which do not affect the legality, validity or enforceability of any of such agreements and which,
individually or in the aggregate, would not materially and adversely affect the transactions contemplated by, or the Seller’s ability to perform its obligations under, the Transaction Documents to which it is a party). 
 (c) No Consent Required. No approval, authorization or other action by, or filing with, any Governmental Authority is
required in connection with the execution, delivery and performance by the Seller of any Transaction Document other than UCC filings and other than (i) approvals and authorizations that have previously been obtained and filings which have
previously been made and (ii) approvals, authorizations or filings which, if not obtained or made, would not have a material adverse effect on the ability of the Seller to perform its obligations under the Underwriting Agreement or the
Transaction Documents to which it is a party. 
 (d) Binding Effect. The Underwriting Agreement and each
Transaction Document to which the Seller is a party constitutes the legal, valid and binding obligation of the Seller enforceable against the Seller in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy,
insolvency, reorganization, moratorium, receivership, conservatorship or other similar laws affecting creditors’ rights generally and, if applicable the rights of creditors of limited liability companies from time to time in effect or by
general principles of equity or other similar laws of general application relating to or affecting the enforcement of creditors’ rights generally and subject to general principles of equity. 
  

 4 

 (e) No Proceedings. There are no actions, orders, suits or proceedings pending or,
to the knowledge of the Seller, threatened against the Seller before or by any Governmental Authority that (i) assert the invalidity or unenforceability of this Agreement or any of the other Transaction Documents, (ii) seek to prevent the
issuance of the Notes or the consummation of any of the transactions contemplated by this Agreement or any of the other Transaction Documents or (iii) seek any determination or ruling that would materially and adversely affect the performance
by the Seller of its obligations under this Agreement or any of the other Transaction Documents. 
 SECTION 2.10. Situs of Issuer. The
Issuer shall be located and administered in the State of Delaware. All bank accounts maintained by the Owner Trustee on behalf of the Issuer shall be located in the State of Delaware or the State of New York. The Issuer shall not have any employees
in any state; provided, however, that nothing herein shall restrict or prohibit the Owner Trustee from having employees within or without the State of Delaware. Payments will be received by the Issuer only in Delaware or New York and
payments will be made by the Issuer only from Delaware or New York. 
 ARTICLE III 
 RESIDUAL INTEREST AND TRANSFER OF CERTIFICATE 
 SECTION 3.1. Initial Ownership. As of the Closing Date, the Residual Interest shall be an uncertificated interest. Until the issuance of one or more Certificates pursuant to Section 3.2, the Seller as the initial Residual
Interestholder shall be the sole beneficiary of the Issuer. On the Closing Date, the Owner Trustee shall record on the books and records of the Issuer that the Seller is the owner of the Residual Interest. The Seller shall only sell, assign, pledge,
or otherwise transfer the Residual Interest if the Residual Interest is in certificated form. 
 SECTION 3.2. Authorization of the
Certificates. The Seller, in its sole discretion, may request the Owner Trustee to issue a Certificate or Certificates to represent the Residual Interest. Upon request by the Seller pursuant to this Section 3.2, the Owner Trustee shall
cause the Certificate or Certificates to be executed on behalf of the Issuer, authenticated and delivered to or upon the written order of the Seller, signed by its chairman of the board, its president, its chief financial officer, its chief
accounting officer, any vice president, its secretary, any assistant secretary, its treasurer or any assistant treasurer, without further corporate action by the Seller. The Certificate or Certificates shall represent 100% of the beneficial interest
in the Issuer and shall be fully paid and nonassessable. 
 SECTION 3.3. Form of the Certificate. Each Certificate, upon issuance,
will be issued in the form of a typewritten Certificate representing a definitive Certificate and shall be registered in the name of “Capital One Auto Receivables, LLC” as the initial registered owner thereof. 
 SECTION 3.4. Registration of Certificates. The Owner Trustee shall maintain at its office referred to in Section 2.2, or at the office of
any agent appointed by it and approved in writing by the Residual Interestholder at the time of such appointment, a register for the registration and transfer of any Certificate. 
  

 5 

 SECTION 3.5. Transfer of Certificate. (a) The Certificateholder may assign, convey or otherwise
transfer all or any of its right, title and interest in the Certificate; provided, that (i) the Rating Agency Condition is satisfied, (ii) the Owner Trustee and the Issuer receive an Opinion of Counsel stating that, in the opinion of such
counsel, such transfer will not cause the Issuer to be treated as a publicly traded partnership for federal income tax purposes, (iii) the Certificate is not acquired by or for the account of or with the assets of (A) an employee benefit plan (as
defined in Section 3(3) of ERISA) that is subject to the provision of Title I of ERISA, (B) a plan described in Section 4975(e)(1) of the Code or (C) any entity whose underlying assets include plan assets by reason of an employee benefit plan’s
or other plan’s investment in the entity and (iv) if the Certificateholder is a governmental plan, certain church plan or foreign plan, it shall be deemed to represent, warrant and covenant that its acquisition, holding and disposition of the
Certificate or interest therein will not result in a nonexempt prohibited transaction under, or a violation of, any applicable law that is substantially similar to ERISA or Section 4975 of the Code. Subject to the transfer restrictions contained
herein and in the Certificate, the Certificateholder may transfer all or any portion of the beneficial interest in the Issuer evidenced by such Certificate upon surrender thereof to the Owner Trustee accompanied by the documents required by this
Section. Such transfer may be made by the registered Certificateholder in person or by his attorney duly authorized in writing upon surrender of the Certificate to the Owner Trustee accompanied by a written instrument of transfer and with such
signature guarantees and evidence of authority of the Persons signing the instrument of transfer as the Owner Trustee may reasonably require. Promptly upon the receipt of such documents and receipt by the Owner Trustee of the transferor’s
Certificate, the Owner Trustee shall record the name of such transferee as a Certificateholder and its percentage of beneficial interest in the Issuer in the Certificate register and issue, execute and deliver to such Certificateholder a Certificate
evidencing such beneficial interest in the Issuer. In the event a transferor transfers only a portion of its beneficial interest in the Issuer, the Owner Trustee shall register and issue, to such transferor a new Certificate evidencing such
transferor’s new percentage of beneficial interest in the Issuer. Subsequent to a transfer and upon the issuance of the new Certificate or Certificates, the Owner Trustee shall cancel and destroy the Certificate surrendered to it in connection
with such transfer. The Owner Trustee may treat the Person in whose name any Certificate is registered as the sole owner of the beneficial interest in the Issuer evidenced by such Certificate. 
 (b) As a condition precedent to any registration of transfer under this Section 3.5, the Owner Trustee may require the payment
of a sum sufficient to cover the payment of any tax or taxes or other governmental charges required to be paid in connection with such transfer. 
 (c) The Owner Trustee shall not be obligated to register any transfer of a Certificate unless each of the transferor and the transferee have certified to the Owner Trustee that such transfer does not violate any of
the transfer restrictions stated herein. The Owner Trustee shall not be liable to any Person for registering any transfer based on such certifications. 
 (d) Notwithstanding anything to the contrary in this Agreement, no transfer (or purported transfer) of any Certificate (or any economic interest therein, including any contract described in Treasury Regulation section
1.7704-1(a)(2)(i)(B)) shall be effective, and any such transfer (or purported transfer) shall be void ab initio, if after such transfer (or purported transfer) there 

  

 6 

 
would be more than 50 Certificateholders (where, for purposes of determining the number of Certificateholders, a person (beneficial owner) owning an interest
in a partnership, grantor trust, or S corporation (“flow-through entity”), that owns, directly or through other flow-through entities, an interest in the Issuer, is treated as a Certificateholder if more than 50 percent of the value of
such beneficial owner’s interest in the flow-through entity is attributable to the flow-through entity’s interest (direct or indirect) in the Issuer) or such transfer would otherwise cause the Issuer to become a publicly traded partnership
for U.S. federal income tax purposes; 
 (e) No transfer (or purported transfer) of a Certificate (or economic interest
therein), whether to another Certificateholder or to a person who is not a Certificateholder, shall be effective, and any such transfer (or purported transfer) shall be void ab initio, and no person shall otherwise become a Certificateholder, and
none of the Issuer, the Owner Trustee or any of the Certificateholders will recognize such transfer (or purported transfer), unless the transferee has first represented and warranted in writing to the Issuer and the Certificateholders that:

 (i) it is acquiring the Certificates for its own account and is the sole beneficial owner of such Certificates; 

(ii) the transfer is not being effected on or through (x) an “established securities market” within the meaning of
Section 7704(a)(1) of the Code, including without limitation, an over-the-counter market or an interdealer quotation system that regularly disseminates firm buy or sell quotations or (y) a “secondary market” or “substantial
equivalent thereof” within the meaning of Section 7704(a)(2) of the Code and any proposed, temporary or final Treasury regulations thereunder; and 
 (iii) such transfer will not cause the Issuer to be classified as a publicly traded partnership for U.S. federal income tax purposes, and
such purchaser or transferee will not take any action, including any subsequent disposition of such Certificates or economic interest therein, that would cause the Issuer to be treated as a publicly traded partnership for U.S. federal income tax
purposes. 
 SECTION 3.6. Lost, Stolen, Mutilated or Destroyed Certificates. If (i) any mutilated Certificate is surrendered to the
Owner Trustee, or (ii) the Owner Trustee receives evidence to its satisfaction that any Certificate has been destroyed, lost or stolen, and upon proof of ownership satisfactory to the Owner Trustee together with such security or indemnity as may be
requested by the Owner Trustee to save it harmless, the Owner Trustee shall execute and deliver a new Certificate for the same percentage of beneficial interest in the Issuer as the Certificate so mutilated, destroyed, lost or stolen, of like tenor
and bearing a different issue number, with such notations, if any, as the Owner Trustee shall determine. Upon the issuance of any new Certificate under this Section 3.6, the Issuer or Owner Trustee may require the payment of a sum sufficient to
cover any tax or other governmental charge that may be imposed in connection with any transfer or exchange of the Certificate and any other reasonable expenses (including the reasonable fees and expenses of the Issuer and the Owner Trustee)
connected therewith. Any duplicate Certificate issued pursuant to this 
  

 7 

 
Section 3.6 shall constitute complete and indefeasible evidence of ownership in the Issuer, as if originally issued, whether or not the lost,
stolen or destroyed Certificate shall be found at any time. 
 ARTICLE IV 
 ACTIONS BY OWNER TRUSTEE 
 SECTION 4.1. Prior Notice to Residual
Interestholder with Respect to Certain Matters. With respect to the following matters, the Owner Trustee shall not take action unless at least 30 days before the taking of such action, the Owner Trustee shall have notified the Residual
Interestholder in writing of the proposed action and the Residual Interestholder shall not have notified the Owner Trustee in writing prior to the 30th day after such notice is given that the Residual Interestholder has withheld consent or provided
alternative direction: 
 (a) the amendment of the Indenture by a supplemental indenture in circumstances where the consent of
any Noteholder is required; 
 (b) the amendment of the Indenture by a supplemental indenture in circumstances where the
consent of any Noteholder is not required and such amendment materially adversely affects the interests of the Residual Interestholder; 
 (c) the amendment, change or modification of the Sale and Servicing Agreement, or the Administration Agreement, except to cure any ambiguity or defect or to amend or supplement any provision in a manner that would not
materially adversely affect the interests of the Residual Interestholder; or 
 (d) the appointment pursuant to the Indenture
of a successor Indenture Trustee or the consent to the assignment by the Note Registrar or the Indenture Trustee of its obligations under the Indenture or this Agreement, as applicable. 
 SECTION 4.2. Action by Residual Interestholder with Respect to Certain Matters. The Owner Trustee shall not have the power, except upon the
direction of the Residual Interestholder, to (a) except as expressly provided in the Transaction Documents, sell the Collateral after the termination of the Indenture in accordance with its terms, (b) remove the Administrator under the
Administration Agreement pursuant to Section 8 thereof or (c) appoint a successor Administrator pursuant to Section 8 of the Administration Agreement. The Owner Trustee shall take the actions referred to in the preceding sentence only
upon written instructions signed by the Residual Interestholder. 
 SECTION 4.3. Action by Residual Interestholder with Respect to
Bankruptcy. The Owner Trustee shall not have the power to commence a voluntary proceeding in bankruptcy relating to the Issuer until one year and one day after the Outstanding amount of all the Notes has been reduced to zero and all amounts owed
to the Note Insurer and the Swap Counterparty under the Transaction Documents have been paid without the prior written approval of the Residual Interestholder and the delivery to the Owner Trustee by the Residual Interestholder of a certificate
certifying that the Residual Interestholder reasonably believes that the Issuer is insolvent. 
  

 8 

 SECTION 4.4. Restrictions on Residual Interestholder’s Power. The Residual Interestholder
shall not direct the Owner Trustee to take or refrain from taking any action if such action or inaction would be contrary to any obligation of the Issuer or the Owner Trustee under this Agreement or any of the Transaction Documents or would be
contrary to Section 2.3, nor shall the Owner Trustee be obligated to follow any such direction, if given. 
 SECTION 4.5. Majority
Control. To the extent that there is more than one Residual Interestholder, any action which may be taken or consent or instructions which may be given by the Residual Interestholder under this Agreement may be taken by Residual Interestholders
holding in the aggregate a percentage of the beneficial interest in the Issuer equal to more than 50% of the beneficial interest in the Issuer at the time of such action. 
 SECTION 4.6. Rights of Note Insurer. Notwithstanding anything to the contrary in the Transaction Documents, without the prior written consent of the Note Insurer (unless a Note Insurer Default shall have
occurred and be continuing or the Notes are no longer outstanding), the Owner Trustee shall not (i) remove the Servicer, (ii) initiate any claim, suit or proceeding by the Issuer or compromise any claim, suit or proceeding brought by or against the
Issuer, other than with respect to the enforcement of any Receivable or any rights of the Issuer thereunder or (iii) authorize the merger or consolidation of the Issuer with or into any other statutory trust or other entity. 
 ARTICLE V 
 APPLICATION OF TRUST
FUNDS; CERTAIN DUTIES 
 SECTION 5.1. Application of Trust Funds. Distributions on the Residual Interest shall be made in
accordance with the provisions of the Indenture and the Sale and Servicing Agreement. Subject to the lien of the Indenture, the Owner Trustee shall promptly distribute to the Residual Interestholder all other amounts (if any) received by the Issuer
or the Owner Trustee in respect of the Trust Estate. After the termination of the Indenture in accordance with its terms, the Owner Trustee shall distribute all amounts received (if any) by the Issuer and the Owner Trustee in respect of the Trust
Estate at the direction of the Residual Interestholder. 
 SECTION 5.2. Method of Payment. Subject to the Indenture, distributions
required to be made to the Residual Interestholder on any Payment Date and all amounts received by the Issuer or the Owner Trustee on any other date that are payable to the Residual Interestholder pursuant to this Agreement or any other Transaction
Document shall be made to the Residual Interestholder by wire transfer, in immediately available funds, to the account of the Residual Interestholder designated by the Residual Interestholder to the Owner Trustee and Indenture Trustee in writing.

 SECTION 5.3. Sarbanes-Oxley Act. Notwithstanding anything to the contrary herein or in any Transaction Document, the Owner Trustee
shall not be required to execute, deliver or certify in accordance with the provisions of the Sarbanes-Oxley Act on behalf of the Issuer or any other Person, any periodic reports filed pursuant to the Exchange Act, or any other documents pursuant to
the Sarbanes-Oxley Act. 
  

 9 

 SECTION 5.4. Signature on Returns. Subject to Section 2.6, the Residual Interestholder
shall sign on behalf of the Issuer the tax returns of the Issuer, unless applicable law requires the Owner Trustee to sign such documents, in which case such documents shall be signed by the Owner Trustee at the written direction of the Residual
Interestholder. 
 ARTICLE VI 
 AUTHORITY AND DUTIES OF OWNER TRUSTEE 
 SECTION 6.1. General Authority. The Owner Trustee is authorized and directed
to execute and deliver (i) the Transaction Documents to which the Issuer is named as a party, and (ii) each certificate or other document attached as an exhibit to or contemplated by the Transaction Documents to which the Issuer or the Owner Trustee
is named as a party and any amendment thereto, including, without limitation, the Fee Letter (as defined in the Insurance Agreement), in each case, in such form as the Seller shall approve, as evidenced conclusively by the Owner Trustee’s
execution thereof, and at the written direction of the Seller, to direct the Indenture Trustee to authenticate and deliver Class A-1 Notes in the aggregate principal amount of $289,000,000, Class A-2 Notes in the aggregate principal amount of
$430,000,000, Class A-3-A Notes in the aggregate principal amount of $167,000,000, Class A-3-B Notes in an aggregate principal amount of $167,000,000 and Class A-4 Notes in the aggregate principal amount of $447,000,000. In addition to the
foregoing, the Owner Trustee is authorized, but shall not be obligated, to take all actions required of the Issuer pursuant to the Transaction Documents. The Owner Trustee is further authorized from time to time to take such action as the Seller,
the Administrator, the Residual Interestholder or the Note Insurer recommends or directs in writing with respect to the Transaction Documents, except to the extent that this Agreement expressly requires the consent of the Residual Interestholder or
the Note Insurer for such action. 
 SECTION 6.2. General Duties. It shall be the duty of the Owner Trustee to discharge (or cause to
be discharged) all of its responsibilities pursuant to the terms of this Agreement and the other Transaction Documents and to administer the Issuer in the interest of the Residual Interestholder, subject to Transaction Documents, and in accordance
with the provisions of this Agreement. Notwithstanding the foregoing, the Owner Trustee shall be deemed to have discharged its duties and responsibilities hereunder and under the Transaction Documents to the extent the Administrator has agreed in
the Administration Agreement to perform any act or to discharge any duty of the Issuer or the Owner Trustee hereunder or under any Transaction Document, and the Owner Trustee shall not be liable for the default or failure of the Administrator to
carry out its obligations under the Administration Agreement and shall have no duty to monitor the performance of the Administrator or any other Person under the Administration Agreement or any other document. The Owner Trustee shall have no
obligation to administer, service or collect the Receivables or to maintain, monitor or otherwise supervise the administration, servicing or collection of the Receivables. 
 SECTION 6.3. Action upon Instruction. (a) Subject to Article IV, and in accordance with the Transaction Documents, the Note Insurer (unless a Note Insurer Default has occurred and is continuing or the
Notes are no longer outstanding) or the Residual Interestholder may, by written instruction, direct the Owner Trustee in the management of the Issuer. Such direction may be exercised at any time by written instruction of the Note Insurer or Residual
Interestholder, as applicable, pursuant to Article IV. The Note 

  

 10 

 
Insurer shall provide prior notice to the Residual Interestholder of any instruction the Note Insurer provides to the Owner Trustee as provided above. In the
event that instructions given by the Note Insurer under this Section 6.3 conflict with instructions given by the Residual Interestholder under this Section 6.3, the instructions of the Note Insurer shall govern. 

(b) Subject to Section 7.1, the Owner Trustee shall not be required to take any action hereunder or under any Transaction
Document if the Owner Trustee shall have reasonably determined or been advised by counsel that such action is likely to result in liability on the part of the Owner Trustee or is contrary to the terms hereof or of any Transaction Document or is
otherwise contrary to law. 
 (c) Whenever the Owner Trustee is unable to decide between alternative courses of action
permitted or required by the terms of this Agreement or any Transaction Document or is unsure as to the application of any provision of this Agreement or any Transaction Document or any such provision is ambiguous as to its application, or is, or
appears to be, in conflict with any other applicable provision, or in the event that this Agreement permits any determination by the Owner Trustee or is silent or is incomplete as to the course of action that the Owner Trustee is required to take
with respect to a particular set of facts, the Owner Trustee shall promptly give notice (in such form as shall be appropriate under the circumstances) to the Residual Interestholder requesting instruction as to the course of action to be adopted or
application of such provision, and to the extent the Owner Trustee acts or refrains from acting in good faith in accordance with any written instruction of the Residual Interestholder received, the Owner Trustee shall not be liable on account of
such action or inaction to any Person. If the Owner Trustee shall not have received appropriate instruction within ten days of such notice (or within such shorter period of time as reasonably may be specified in such notice or may be necessary under
the circumstances) it may, but shall be under no duty to, take or refrain from taking such action, not inconsistent with this Agreement or the Transaction Documents, as it shall deem to be in the best interests of the Residual Interestholder, and
shall have no liability to any Person for such action or inaction. 
 SECTION 6.4. No Duties Except as Specified in this Agreement or in
Instructions. The Owner Trustee shall not have any duty or obligation to manage, make any payment with respect to, register, record, sell, dispose of, or otherwise deal with the Trust Estate, or to otherwise take or refrain from taking any
action under, or in connection with, any document contemplated hereby to which the Issuer or the Owner Trustee is a party, except as expressly provided by the terms of this Agreement or in any document or written instruction received by the Owner
Trustee pursuant to Section 6.3; and no implied duties or obligations shall be read into this Agreement or any Transaction Document against the Owner Trustee. The Owner Trustee shall have no responsibility for filing any financing or
continuation statement in any public office at any time or to otherwise perfect or maintain the perfection of any security interest or Lien granted to it hereunder or to prepare or file any Commission filing (including any filings required under the
Sarbanes-Oxley Act) for the Issuer or to record this Agreement or any Transaction Document. Wilmington Trust Company nevertheless agrees that it will, at its own cost and expense, promptly take all action as may be necessary to discharge any Liens
on any part of the Trust Estate that result from actions by, or claims against, Wilmington Trust Company that are not related to the ownership or the 

  

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administration of the Trust Estate. Notwithstanding anything contained herein to the contrary, with respect to the Note Insurer, the Owner Trustee undertakes
to perform or observe only such of the covenants and obligations of the Owner Trustee as are expressly set forth in this Agreement, and no implied covenants or obligations with respect to the Note Insurer shall be read into this Agreement against
the Owner Trustee. The Owner Trustee shall not be deemed to owe any fiduciary duty to the Note Insurer and shall not be liable to any such person other than as expressly set forth in the third sentence of Section 7.1 of this Agreement.

 SECTION 6.5. No Action Except under Specified Documents or Instructions. The Owner Trustee shall not manage, control, use, sell,
dispose of or otherwise deal with any part of the Trust Estate except (i) in accordance with the powers granted to and the authority conferred upon the Owner Trustee pursuant to this Agreement, (ii) in accordance with the Transaction Documents and
(iii) in accordance with any document or instruction delivered to the Owner Trustee pursuant to Section 6.3. 
 SECTION 6.6.
Restrictions. The Owner Trustee shall not take any action (a) that is inconsistent with the purposes of the Issuer set forth in Section 2.3 or (b) that, to the actual knowledge of a Responsible Officer of the Owner Trustee, would (i)
affect the treatment of the Notes as indebtedness for federal income, state and local income and franchise tax purposes, (ii) be deemed to cause a taxable exchange of the Notes for federal income or state income or franchise tax purposes or (iii)
cause the Issuer or any portion thereof to be treated as an association or publicly traded partnership taxable as a corporation for federal income, state and local income or franchise tax purposes. Neither the Residual Interestholder nor the Note
Insurer shall direct the Owner Trustee to take action that would violate the provisions of this Section. 
 ARTICLE VII 
 CONCERNING OWNER TRUSTEE 
 SECTION
7.1. Acceptance of Trusts and Duties. The Owner Trustee accepts the trusts hereby created and agrees to perform its duties hereunder with respect to such trusts but only upon the terms of this Agreement. The Owner Trustee also agrees to
disburse all moneys actually received by it constituting part of the Trust Estate upon the terms of the Transaction Documents and this Agreement. The Owner Trustee shall not be personally liable or accountable hereunder or under any Transaction
Document under any circumstances notwithstanding anything herein or in the Transaction Documents to the contrary, except (i) for its own willful misconduct, bad faith or gross negligence, (ii) in the case of the inaccuracy of any representation or
warranty contained in Section 7.3 expressly made by Wilmington Trust Company in its individual capacity, (iii) for liabilities arising from the failure of Wilmington Trust Company to perform obligations expressly undertaken by it in the third
sentence of Section 6.4 or (iv) for taxes, fees or other charges on, based on or measured by, any fees, commissions or compensation received by the Owner Trustee. In particular, but not by way of limitation (and subject to the exemptions set
forth in the preceding sentence): 
 (a) The Owner Trustee shall not be liable for any error of judgment made in good faith by
any officer of the Owner Trustee. 
  

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 (b) Under no circumstances shall the Owner Trustee be personally liable hereunder for any
indebtedness of the Issuer. 
 (c) The Owner Trustee shall not be personally liable for the payment of any tax imposed on the
Issuer or amounts that are includable in the federal gross income of the Residual Interestholder. 
 (d) No provision of this
Agreement shall require the Owner Trustee to expend or risk funds or otherwise incur any financial liability in the performance of any of the Owner Trustee’s duties or powers hereunder, if the Owner Trustee believes or is advised by its legal
counsel that repayment of such funds or adequate indemnity against such risk or liability is not assured or provided to its reasonable satisfaction. 
 (e) Under no circumstance shall the Owner Trustee be liable for any representation, warranty, covenant, or obligation or indebtedness of the Issuer hereunder or under the Transaction Documents or any other agreement,
document or certificate contemplated by the foregoing. 
 (f) The Owner Trustee shall not be liable with respect to any action
taken or omitted to be taken by the Note Insurer, the Administrator, the Indenture Trustee or the Servicer and the Owner Trustee shall not be liable for performing or supervising the performance of any obligations or duties under this Agreement, the
Administration Agreement, the Sale and Servicing Agreement or the Indenture, or under any other document contemplated hereby or thereby, which are to be performed by the Administrator, the Indenture Trustee or the Servicer or any other Person under
such documents. 
 (g) The Owner Trustee shall not be responsible for or in respect of the recitals herein, the validity or
sufficiency of this Agreement, or for the due execution hereof by the Seller or for the form, character, genuineness, sufficiency, value or validity of any of the Trust Estate or for or in respect of the validity or sufficiency of the Transaction
Documents or any other document contemplated thereby to which the Owner Trustee is not a party. 
 (h) Notwithstanding
anything contained herein or in any of the Transaction Documents to the contrary, the Owner Trustee shall not be required to take any action in any jurisdiction other than in the State of Delaware if the taking of such action will (i) require
the consent or approval or authorization or order of or the giving of notice to, or the registration with or taking of any action in respect of, any state or other governmental authority or agency of any jurisdiction other than the State of
Delaware; (ii) result in any fee, tax or other governmental charge under the laws of any jurisdiction or any political subdivisions thereof in existence on the date hereof other than the State of Delaware becoming payable by the Owner Trustee;
or (iii) subject the Owner Trustee to personal jurisdiction in any jurisdiction other than the State of Delaware for causes of action arising from acts unrelated to the consummation of the transactions by the Owner Trustee contemplated hereby.

  

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 (i) The Owner Trustee shall not be liable with respect to any action taken or omitted to
be taken by it in accordance with the instructions of the Residual Interestholder, the Note Insurer, the Servicer or the Administrator. 
 (j) The Owner Trustee shall be under no duty to exercise any of the rights or powers vested in it by this Agreement, or to institute, conduct or defend any litigation under this Agreement or otherwise or in relation
to this Agreement or any Transaction Document, at the request, order or written direction of the Residual Interestholder or the Note Insurer, unless such Residual Interestholder or the Note Insurer has offered to provide to the Owner Trustee, to the
extent requested by the Owner Trustee, security or indemnity satisfactory to it against the costs, expenses and liabilities that may be incurred by the Owner Trustee therein or thereby. The right of the Owner Trustee to perform any discretionary act
enumerated in this Agreement or in any Transaction Document shall not be answerable for other than its gross negligence, bad faith or willful misconduct in the performance of any such act. 
 (k) All funds deposited with the Owner Trustee hereunder may be held in a non-interest bearing account and the Owner Trustee shall not be
liable for any interest thereon or for any loss as a result of the investment thereof at the direction of the Residual Interestholder. 
 SECTION 7.2. Furnishing of Documents. The Owner Trustee shall furnish to the Residual Interestholder promptly upon receipt of a written request therefor, duplicates or copies of all reports, notices, requests, demands, certificates,
financial statements and any other instruments furnished to the Owner Trustee under the Transaction Documents. 
 SECTION 7.3.
Representations and Warranties. Wilmington Trust Company hereby represents and warrants to the Seller for the benefit of the Residual Interestholder, that: 
 (a) It is a banking corporation duly incorporated and validly existing in good standing under the laws of Delaware and having an office
within the State of Delaware. It has all requisite corporate power and authority to execute, deliver and perform its obligations under this Agreement. 
 (b) It has taken all corporate action necessary to authorize the execution and delivery by it of this Agreement, and this Agreement will be executed and delivered by one of its officers who is duly authorized to
execute and deliver this Agreement on its behalf. 
 (c) This Agreement constitutes a legal, valid and binding obligation of
the Owner Trustee, enforceable against the Owner Trustee in accordance with its terms, subject, as to enforceability, to applicable bankruptcy, insolvency, reorganization, conservatorship, receivership, liquidation and other similar laws affecting
enforcement of the rights of creditors of banks generally and to equitable limitations on the availability of specific remedies. 
 (d) Neither the execution nor the delivery by it of this Agreement, nor the consummation by it of the transactions contemplated hereby nor compliance by it with any of the terms or provisions hereof will contravene any federal or Delaware

  

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law, governmental rule or regulation governing the banking or trust powers of the Owner Trustee or any judgment or order binding on it, or constitute any
default under its charter documents or by-laws. 
 SECTION 7.4. Reliance; Advice of Counsel. (a) The Owner Trustee shall incur no
personal liability to anyone in acting upon any signature, instrument, notice, resolution, request, consent, order, certificate, report, opinion, bond or other document or paper believed by it to be genuine and believed by it to be signed by the
proper party or parties. The Owner Trustee may accept a certified copy of a resolution of the board of directors or other governing body of any corporate party as conclusive evidence that such resolution has been duly adopted by such body and that
the same is in full force and effect. As to any fact or matter the method of the determination of which is not specifically prescribed herein, the Owner Trustee may for all purposes hereof rely on a certificate, signed by the president or any vice
president or by the treasurer, secretary or other Authorized Officers of the relevant party, as to such fact or matter, and such certificate shall constitute full protection to the Owner Trustee for any action taken or omitted to be taken by it in
good faith in reliance thereon. 
 (b) In the exercise or administration of the trusts hereunder and in the performance of its
duties and obligations under this Agreement or the Transaction Documents, the Owner Trustee (i) may act directly or through its agents or attorneys pursuant to agreements entered into with any of them, but the Owner Trustee shall not be
personally liable for the conduct or misconduct of such agents, custodians, nominees (including persons acting under a power of attorney) or attorneys selected with reasonable care and (ii) may consult with counsel, accountants and other
skilled persons knowledgeable in the relevant area to be selected with reasonable care and employed by it at the expense of the Issuer. The Owner Trustee shall not be personally liable for anything done, suffered or omitted in good faith by it in
accordance with the written opinion or advice of any such counsel, accountants or other such persons. 
 SECTION 7.5. Not Acting in
Individual Capacity. Except as provided in this Article VII, in accepting the trusts hereby created, Wilmington Trust Company acts solely as the Owner Trustee hereunder and not in its individual capacity and all Persons having any claim
against the Owner Trustee by reason of the transactions contemplated by this Agreement or any Transaction Document shall look only to the Trust Estate for payment or satisfaction thereof. 
 SECTION 7.6. The Owner Trustee May Own Notes. The Owner Trustee in its individual or any other capacity may become the owner or pledgee of Notes.
The Owner Trustee may deal with the Seller, the Indenture Trustee, the Administrator and their respective Affiliates in banking transactions with the same rights as it would have if it were not the Owner Trustee, and the Seller, the Indenture
Trustee, the Administrator and their respective Affiliates may maintain normal commercial banking relationships with the Owner Trustee and its Affiliates. 
  

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 ARTICLE VIII 
 COMPENSATION OF OWNER TRUSTEE 
 SECTION 8.1. The Owner Trustee’s Compensation. The Issuer
shall cause the Servicer to pay to Wilmington Trust Company pursuant to Section 3.11 of the Sale and Servicing Agreement from time to time compensation for all services rendered by Wilmington Trust Company under this Agreement pursuant to a
fee letter between the Servicer and the Owner Trustee (which compensation shall not be limited by any provision of law in regard to the compensation of a trustee of an express trust). The Servicer, pursuant to Section 3.11 of the Sale and
Servicing Agreement and the fee letter between the Servicer and the Owner Trustee, shall reimburse Wilmington Trust Company upon its request for all reasonable expenses, disbursements and advances incurred or made by Wilmington Trust Company in
accordance with any provision of this Agreement (including the reasonable compensation, expenses and disbursements of such agents, experts and counsel as Wilmington Trust Company may employ in connection with the exercise and performance of its
rights and its duties hereunder), except any such expense may be attributable to its willful misconduct, gross negligence (other than an error in judgment) or bad faith. To the extent not paid by the Servicer, such fees and reasonable expenses shall
be paid in accordance with Section 4.4 of the Sale and Servicing Agreement or Section 5.4(b) of the Indenture, as applicable. 
 SECTION 8.2. Indemnification. The Seller shall cause the Servicer to indemnify Wilmington Trust Company in its individual capacity and as trustee and its successors, assigns, directors, officers, employees and agents (the
“Indemnified Parties”) from and against, any and all loss, liability, expense, tax, penalty or claim (including reasonable legal fees and expenses) of any kind and nature whatsoever which may at any time be imposed on, incurred by,
or asserted against Wilmington Trust Company in its individual capacity and as trustee or any Indemnified Party in any way relating to or arising out of this Agreement, the Transaction Documents, the Trust Estate, the administration of the Trust
Estate or the action or inaction of Wilmington Trust Company hereunder; provided, however, that neither the Seller nor the Servicer shall be liable for or required to indemnify Wilmington Trust Company from and against any of the
foregoing expenses arising or resulting from (i) its own willful misconduct, bad faith or gross negligence, (ii) the inaccuracy of any representation or warranty contained in Section 7.3 expressly made by Wilmington Trust Company in its
individual capacity, (iii) liabilities arising from the failure of Wilmington Trust Company to perform obligations expressly undertaken by it in the third sentence of Section 6.4 or (iv) taxes, fees or other charges on, based on or measured
by, any fees, commissions or compensation received by the Owner Trustee. To the extent not paid by the Servicer, such indemnification shall be paid in accordance with Section 4.4 of the Sale and Servicing Agreement. 
 SECTION 8.3. Payments to the Owner Trustee. Any amounts paid to the Owner Trustee pursuant to this Article VIII and the Sale and Servicing
Agreement shall be deemed not to be a part of the Trust Estate immediately after such payment. 
  

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 ARTICLE IX 
 TERMINATION OF TRUST AGREEMENT 
 SECTION 9.1. Termination of Trust Agreement. The Issuer shall
wind-up and dissolve, and this Agreement (other than Article VIII) shall terminate, upon the later of (a) the final distribution by the Owner Trustee of all moneys or other property or proceeds of the Trust Estate in accordance with the terms
of the Indenture, the Sale and Servicing Agreement and Article V and (b) the discharge of the Indenture in accordance with Article IV of the Indenture. The bankruptcy, liquidation, dissolution, death or incapacity of the Residual
Interestholder shall not (x) operate to terminate this Agreement or the Issuer, nor (y) entitle the Residual Interestholder’s legal representatives or heirs to claim an accounting or to take any action or proceeding in any court for a partition
or winding up of all or any part of the Issuer or Trust Estate nor (z) otherwise affect the rights, obligations and liabilities of the parties hereto. 
 SECTION 9.2. Dissolution of the Issuer. Upon dissolution of the Issuer, the Owner Trustee shall wind up the business and affairs of the Issuer as required by Section 3808 of the Statutory Trust Statute. Upon
the satisfaction and discharge of the Indenture, and receipt of a certificate from the Indenture Trustee stating that all Noteholders have been paid in full and that the Indenture Trustee is aware of no claims remaining against the Issuer in respect
of the Indenture and the Notes, the Owner Trustee, in the absence of actual knowledge of any other claim against the Issuer and at the written direction of the Residual Interestholder, shall be deemed to have made reasonable provision to pay all
claims and obligations (including conditional, contingent or unmatured obligations) for purposes of Section 3808(e) of the Statutory Trust Statute and shall cause the Certificate of Trust to be cancelled by filing a certificate of cancellation with
the Delaware Secretary of State in accordance with the provisions of Section 3810 of the Statutory Trust Statute, at which time the Issuer shall terminate and this Agreement (other than Article VIII) shall be of no further force or effect.

 SECTION 9.3. Limitations on Termination. Except as provided in Section 9.1, neither the Seller nor the Residual
Interestholder shall be entitled to revoke or terminate the Issuer. 
 ARTICLE X 
 SUCCESSOR OWNER TRUSTEES AND ADDITIONAL 
 OWNER TRUSTEES 
 SECTION 10.1. Eligibility Requirements for the Owner Trustee. The Owner Trustee shall at all times
be a bank (i) authorized to exercise corporate trust powers, (ii) having a combined capital and surplus of at least $50,000,000 and (iii) subject to supervision or examination by Federal or state authorities. If such bank shall publish reports of
condition at least annually, pursuant to law or to the requirements of the aforesaid supervising or examining authority, then for the purpose of this Section, the combined capital and surplus of such corporation shall be deemed to be its combined
capital and surplus as set forth in its most recent report of condition so published. The Owner Trustee shall at all times be an institution satisfying the provisions of Section 3807(a) of the Statutory Trust Statute. In case at any time the Owner
Trustee shall cease to be eligible in accordance with the provisions of this Section, the Owner Trustee shall resign immediately in the manner and with the effect specified in Section 10.2. 
  

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 SECTION 10.2. Resignation or Removal of the Owner Trustee. The Owner Trustee may at any time
resign and be discharged from the trusts hereby created by giving written notice thereof to the Note Insurer, the Seller, the Administrator, the Servicer, the Indenture Trustee and the Residual Interestholder. Upon receiving such notice of
resignation, the Seller and the Administrator, acting jointly, shall promptly appoint a successor Owner Trustee reasonably acceptable to the Note Insurer (unless a Note Insurer Default has occurred and is continuing) which satisfies the eligibility
requirements set forth in Section 10.1 by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Owner Trustee and one copy to the successor Owner Trustee (with a copy to the Note Insurer). If
no successor Owner Trustee shall have been so appointed and have accepted appointment within 30 days after the giving of such notice of resignation, the resigning Owner Trustee may petition any court of competent jurisdiction for the appointment of
a successor Owner Trustee reasonably acceptable to the Note Insurer (unless a Note Insurer Default has occurred and is continuing); provided, however, that such right to appoint or to petition for the appointment of any such successor
shall in no event relieve the resigning Owner Trustee from any obligations otherwise imposed on it under the Transaction Documents until such successor has in fact assumed such appointment. 
 If at any time the Owner Trustee shall cease to be eligible in accordance with the provisions of Section 10.1 and shall fail to resign after
written request therefor by the Seller or the Administrator, or if at any time the Owner Trustee shall be legally unable to act, or shall be adjudged bankrupt or insolvent, or a receiver of the Owner Trustee or of its property shall be appointed, or
any public officer shall take charge or control of the Owner Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then the Seller or the Administrator with notice to the Note Insurer may remove the
Owner Trustee. If the Seller or the Administrator shall remove the Owner Trustee under the authority of the immediately preceding sentence, the Seller and the Administrator, acting jointly, shall promptly appoint a successor Owner Trustee reasonably
acceptable to the Note Insurer (unless a Note Insurer Default has occurred and is continuing) by written instrument, in duplicate, one copy of which instrument shall be delivered to the outgoing Owner Trustee so removed and one copy to the successor
Owner Trustee (with a copy to the Note Insurer) and shall pay all fees owed to the outgoing Owner Trustee. 
 Any resignation or removal of
the Owner Trustee and appointment of a successor Owner Trustee pursuant to any of the provisions of this Section shall not become effective until acceptance of appointment by the successor Owner Trustee pursuant to Section 10.3 and
payment of all fees and expenses owed to the outgoing Owner Trustee. The Seller shall provide (or shall cause to be provided) notice of such resignation or removal of the Owner Trustee to each of the Rating Agencies and the Note Insurer. 

SECTION 10.3. Successor Owner Trustee. Any successor Owner Trustee appointed pursuant to Section 10.2 shall execute, acknowledge and
deliver to the Seller, the Administrator, the Note Insurer and to its predecessor Owner Trustee an instrument accepting such appointment under this Agreement, and thereupon the resignation or removal of the predecessor Owner Trustee shall become
effective and such successor Owner Trustee, without any further act, deed or conveyance, shall become fully vested with all 
  

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the rights, powers, duties and obligations of its predecessor under this Agreement, with like effect as if originally named as the Owner Trustee. The
predecessor Owner Trustee shall upon payment of its fees and expenses deliver to the successor Owner Trustee all documents and statements and monies held by it under this Agreement; and the Seller and the predecessor Owner Trustee shall execute and
deliver such instruments and do such other things as may reasonably be required for fully and certainly vesting and confirming in the successor Owner Trustee all such rights, powers, duties and obligations. 
 No successor Owner Trustee shall accept appointment as provided in this Section unless at the time of such acceptance such successor Owner Trustee shall
be eligible pursuant to Section 10.1. 
 Upon acceptance of appointment by a successor Owner Trustee pursuant to this Section,
the Seller shall mail (or shall cause to be mailed) notice of the successor of such Owner Trustee to the Residual Interestholder, Indenture Trustee, the Noteholders and each of the Rating Agencies. If the Seller shall fail to mail (or cause to be
mailed) such notice within 10 days after acceptance of appointment by the successor Owner Trustee, the successor Owner Trustee shall cause such notice to be mailed at the expense of the Seller. 
 SECTION 10.4. Merger or Consolidation of the Owner Trustee. Any corporation into which the Owner Trustee may be merged or converted or with which
it may be consolidated, or any corporation resulting from any merger, conversion or consolidation to which the Owner Trustee shall be a party, or any corporation succeeding to all or substantially all of the corporate trust business of the Owner
Trustee, shall, without the execution or filing of any instrument or any further act on the part of any of the parties hereto, anything herein to the contrary notwithstanding, be the successor of the Owner Trustee hereunder; provided that such
corporation shall be eligible pursuant to Section 10.1; and provided further that the Owner Trustee shall mail notice of such merger or consolidation to the Seller, the Administrator and the Rating Agencies. 
 SECTION 10.5. Appointment of Co-Trustee or Separate Trustee. Notwithstanding any other provisions of this Agreement, at any time, for the purpose
of meeting any legal requirements of any jurisdiction in which any part of the Trust Estate may at the time be located, the Seller and the Owner Trustee acting jointly shall have the power and shall execute and deliver all instruments to appoint one
or more Persons approved by the Owner Trustee to act as co-trustee, jointly with the Owner Trustee, or separate trustee or separate trustees, of all or any part of the Trust Estate, and to vest in such Person, in such capacity, such title to the
Issuer, or any part thereof, and, subject to the other provisions of this Section, such powers, duties, obligations, rights and trusts as the Seller and the Owner Trustee may consider necessary or desirable. If the Seller shall not have joined in
such appointment within 15 days after the receipt by it of a request so to do, the Owner Trustee alone shall have the power to make such appointment. No co-trustee or separate trustee under this Agreement shall be required to meet the terms of
eligibility as a successor trustee pursuant to Section 10.1 and no notice of the appointment of any co-trustee or separate trustee shall be required pursuant to Section 10.3. 
  

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 Each separate trustee and co-trustee shall, to the extent permitted by law, be appointed and act subject
to the following provisions and conditions: 
 (i) all rights, powers, duties and obligations conferred or imposed upon the
Owner Trustee shall be conferred upon and exercised or performed by the Owner Trustee and such separate trustee or co-trustee jointly (it being understood that such separate trustee or co-trustee is not authorized to act separately without the Owner
Trustee joining in such act), except to the extent that under any law of any jurisdiction in which any particular act or acts are to be performed, the Owner Trustee shall be incompetent or unqualified to perform such act or acts, in which event such
rights, powers, duties and obligations (including the holding of title to the Issuer or any portion thereof in any such jurisdiction) shall be exercised and performed singly by such separate trustee or co-trustee, but solely at the direction of the
Owner Trustee; 
 (ii) no trustee under this Agreement shall be personally liable by reason of any act or omission of any
other trustee under this Agreement; and 
 (iii) the Seller and the Owner Trustee acting jointly may at any time accept the
resignation of or remove any separate trustee or co-trustee. 
 Any notice, request or other writing given to the Owner Trustee shall be
deemed to have been given to each of the then separate trustees and co-trustees, as effectively as if given to each of them. Every instrument appointing any separate trustee or co-trustee shall refer to this Agreement and the conditions of this
Article. Each separate trustee and co-trustee, upon its acceptance of the trusts conferred, shall be vested with the estates or property specified in its instrument of appointment, either jointly with the Owner Trustee or separately, as may be
provided therein, subject to all the provisions of this Agreement, specifically including every provision of this Agreement relating to the conduct of, affecting the liability of, or affording protection to, the Owner Trustee. Each such instrument
shall be filed with the Owner Trustee and copies thereof given to the Seller and the Administrator. 
 Any separate trustee or co-trustee may
at any time appoint the Owner Trustee, its agent or attorney-in-fact with full power and authority, to the extent not prohibited by law, to do any lawful act under or in respect of this Agreement on its behalf and in its name. If any separate
trustee or co-trustee shall become incapable of acting, resign or be removed, all of its estates, properties, rights, remedies and trusts shall vest in and be exercised by the Owner Trustee, to the extent permitted by law, without the appointment of
a new or successor trustee. The Owner Trustee shall have no obligation to determine whether a co-trustee or separate trustee is legally required in any jurisdiction in which any part of the Trust Estate may be located. 
  

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 ARTICLE XI 
 MISCELLANEOUS 
 SECTION 11.1. Amendments. 
 (a) Any term or provision of this Agreement may be amended by the parties hereto, with the written consent of the Note Insurer (so long as
the Note Insurer is the Controlling Party), but without the consent of any Noteholder, to cure any ambiguity, to correct or supplement any provisions in this Agreement, to comply with changes in the Code, to comply with or obtain more favorable
treatment under any law or regulation or any accounting rule or principle, or to make any other provisions with respect to matters or questions arising under this Agreement which shall not be inconsistent with the provisions of this Agreement;
provided that such amendment shall not, as evidenced by an Opinion of Counsel delivered to the Indenture Trustee and the Owner Trustee, materially and adversely affect the interests of any Noteholder; provided, further, that
such amendment shall be deemed not to materially and adversely affect the interests of any Noteholder, and no Opinion of Counsel shall be required, if the Rating Agency Condition is satisfied with respect to such amendment; provided,
further, that if the Note Insurer is not the Controlling Party, such amendment shall not materially and adversely affect the interests of the Note Insurer without the prior written consent of the Note Insurer. 
 (b) This Agreement may also be amended from time to time by the parties hereto, with the consent of the Controlling Party, for the purpose
of adding any provisions to or changing in any manner or eliminating any of the provisions of this Agreement or of modifying in any manner the rights of the Noteholders or the Note Insurer; provided, that if the Note Insurer is not the
Controlling Party, no amendment pursuant to this Section 11.1(b) shall materially and adversely affect the interests of the Note Insurer without the prior written consent of the Note Insurer. It will not be necessary to obtain the
consent of Noteholders to approve the particular form of any proposed amendment or consent, but it will be sufficient if such consent approves the substance thereof. The manner of obtaining such consents (and any other consents of Noteholders
provided for in this Agreement) and of evidencing the authorization of the execution thereof by Noteholders will be subject to such reasonable requirements as the Indenture Trustee may prescribe, including the establishment of record dates pursuant
to the Note Depository Agreement. 
 (c) Prior to the execution of any such amendment, the Seller shall provide written
notification of the substance of such amendment to each Rating Agency, the Note Insurer and the Owner Trustee; and promptly after the execution of any such amendment or consent, the Seller shall furnish a copy of such amendment or consent to each
Rating Agency, the Owner Trustee and the Indenture Trustee. 
 (d) Prior to the execution of any amendment to this Agreement,
the Owner Trustee shall be entitled to receive and conclusively rely upon an Opinion of Counsel stating that the execution of such amendment is authorized or permitted by this 

  

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Agreement and that all conditions precedent to the execution and delivery of such amendment have been satisfied. The Owner Trustee may, but shall not be
obligated to, enter into any such amendment which affects the Owner Trustee’s own rights, duties or immunities under this Agreement. 
 (e) Notwithstanding the language set forth in this Section 11.1, the consent of the Note Insurer shall be required at all times with respect to any amendment of Section 4.6 of this Agreement.

 SECTION 11.2. No Legal Title to Trust Estate in Residual Interestholder. The Residual Interestholder shall not have legal title to
any part of the Trust Estate. The Residual Interestholder shall be entitled to receive distributions with respect to its undivided beneficial interest therein only in accordance with Articles V and IX. No transfer, by operation of law
or otherwise, of any right, title or interest of the Residual Interestholder to and in its ownership interest in the Trust Estate shall operate to terminate this Agreement or the trusts hereunder or entitle any transferee to an accounting or to the
transfer to it of legal title to any part of the Trust Estate. 
 SECTION 11.3. Limitations on Rights of Others. The provisions of
this Agreement are solely for the benefit of the Owner Trustee, the Seller, the Administrator, the Residual Interestholder and, to the extent expressly provided herein, the Indenture Trustee and the Noteholders, and nothing in this Agreement,
whether express or implied, shall be construed to give to any other Person any legal or equitable right, remedy or claim in the Trust Estate or under or in respect of this Agreement or any covenants, conditions or provisions contained herein.

 SECTION 11.4. Notices. (a) Unless otherwise expressly specified or permitted by the terms hereof, all notices shall be in writing
and shall be deemed given by telecopy with receipt acknowledged by the recipient thereof or upon receipt personally delivered, delivered by overnight courier or mailed certified mail, return receipt requested or via facsimile, as set forth on
Schedule II to the Sale and Servicing Agreement; or, as to each party, at such other address as shall be designated by such party in a written notice to each other party. 
 (b) Any notice required or permitted to be given to a Residual Interestholder shall be given by first-class mail, postage prepaid, at the
address of such Residual Interestholder as shall be designated by such party in a written notice to each other party. Any notice so mailed within the time prescribed in this Agreement shall be conclusively presumed to have been duly given, whether
or not the Residual Interestholder receives such notice. 
 SECTION 11.5. Severability. Any provision of this Agreement that is
prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability
in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. 
  

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 SECTION 11.6. Separate Counterparts. This Agreement may be executed by the parties hereto in
separate counterparts, each of which when so executed and delivered shall be an original, but all such counterparts shall together constitute but one and the same instrument. 
 SECTION 11.7. Successors and Assigns. All covenants and agreements contained herein shall be binding upon, and inure to the benefit of, the
Seller, the Owner Trustee and its successors and the Residual Interestholder and its successors and permitted assigns, all as herein provided. Any request, notice, direction, consent, waiver or other instrument or action by the Residual
Interestholder shall bind the successors and assigns of the Residual Interestholder. 
 SECTION 11.8. No Petition. 
 (a) Each of the Owner Trustee (in its individual capacity and as the Owner Trustee), by entering into this Agreement, the Seller, the
Residual Interestholder, by accepting the Residual Interest, and the Indenture Trustee and each Noteholder or Note Owner by accepting the benefits of this Agreement, hereby covenants and agrees that prior to the date which is one year and one day
after payment in full of all obligations of each Bankruptcy Remote Party in respect of all securities issued by the Bankruptcy Remote Parties (i) to the fullest extent permitted by law such party shall not authorize any Bankruptcy Remote Party
to commence a voluntary winding-up or other voluntary case or other proceeding seeking liquidation, reorganization or other relief with respect to such Bankruptcy Remote Party or its debts under any bankruptcy, insolvency or other similar law now or
hereafter in effect in any jurisdiction or seeking the appointment of an administrator, a trustee, receiver, liquidator, custodian or other similar official with respect to such Bankruptcy Remote Party or any substantial part of its property or to
consent to any such relief or to the appointment of or taking possession by any such official in an involuntary case or other proceeding commenced against such Bankruptcy Remote Party, or to make a general assignment for the benefit of, its
creditors generally, any party hereto or any other creditor of such Bankruptcy Remote Party, and (ii) such party shall not commence, join or institute against, with any other Person, any proceeding against such Bankruptcy Remote Party under any
bankruptcy, reorganization, arrangement, liquidation or insolvency law or statute now or hereafter in effect in any jurisdiction. Without limiting the foregoing, in no event shall the Owner Trustee authorize, institute or join in any bankruptcy or
similar proceeding described in the preceding sentence without the prior written approval of the Residual Interestholder and the delivery to the Owner Trustee of a certificate certifying that the Residual Interestholder reasonably believes that the
Issuer is insolvent. 
 (b) The Seller’s obligations under this Agreement are obligations solely of the Seller and will
not constitute a claim against the Seller to the extent that the Seller does not have funds sufficient to make payment of such obligations. In furtherance of and not in derogation of the foregoing, each of the Owner Trustee (in its individual
capacity and as the Owner Trustee), by entering into or accepting this agreement, each Certificateholder, by accepting a Certificate, and the Indenture Trustee and each Noteholder or Note Owner, by accepting the benefits of this Agreement, hereby
acknowledges and agrees that such Person has no right, title or interest in or to the Other Assets of the Seller. To the extent that, notwithstanding the agreements and provisions 

  

 23 

 
contained in the preceding sentence, each of the Owner Trustee, the Indenture Trustee, each Noteholder or Note Owner and the Certificateholder either
(i) asserts an interest or claim to, or benefit from, Other Assets, or (ii) is deemed to have any such interest, claim to, or benefit in or from Other Assets, whether by operation of law, legal process, pursuant to applicable provisions of
insolvency laws or otherwise (including by virtue of Section 1111(b) of the Bankruptcy Code or any successor provision having similar effect under the Bankruptcy Code), then such Person further acknowledges and agrees that any such interest,
claim or benefit in or from Other Assets is and will be expressly subordinated to the indefeasible payment in full, which, under the terms of the relevant documents relating to the securitization or conveyance of such Other Assets, are entitled to
be paid from, entitled to the benefits of, or otherwise secured by such Other Assets (whether or not any such entitlement or security interest is legally perfected or otherwise entitled to a priority of distributions or application under applicable
law, including insolvency laws, and whether or not asserted against the Seller), including the payment of post-petition interest on such other obligations and liabilities. This subordination agreement will be deemed a subordination agreement within
the meaning of Section 510(a) of the Bankruptcy Code. Each of the Owner Trustee (in its individual capacity and as the Owner Trustee), by entering into or accepting this agreement, each Certificateholder, by accepting a Certificate, and the
Indenture Trustee and each Noteholder or Note Owner, by accepting the benefits of this Agreement, hereby further acknowledges and agrees that no adequate remedy at law exists for a breach of this Section and the terms of this Section may be enforced
by an action for specific performance. The provisions of this Section will be for the third party benefit of those entitled to rely thereon and will survive the termination of this Agreement. 
 SECTION 11.9. Headings. The headings of the various Articles and Sections herein are for convenience of reference only and shall not define or
limit any of the terms or provisions hereof. 
 SECTION 11.10. GOVERNING LAW. THIS AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH
THE LAWS OF THE STATE OF DELAWARE, WITHOUT REFERENCE TO ITS CONFLICT OF LAW PROVISIONS, AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS. 
 SECTION 11.11. Limitation of Rights. 
 (a) All of the rights of the Note Insurer in, to and under this Agreement (including, but not limited to, all of the Note Insurer’s rights to receive notice of any action hereunder and to give or withhold consent
to any action hereunder) shall terminate upon the termination of the Insurance Agreement in accordance with the terms thereof and the payment in full of all amounts owing to the Note Insurer. 
 (b) All of the rights of the Swap Counterparty in, to and under this Agreement (including, but not limited to, all of the Swap
Counterparty’s rights to receive notice of any action hereunder and to give or withhold consent to any action hereunder) shall terminate upon the termination of the Interest Rate Swap Agreement in accordance with the terms thereof and the
payment in full of all amounts owing to the Swap Counterparty. 
  

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 SECTION 11.12. Information to Be Provided by the Owner Trustee. For as long as the Issuer is
requested to report under the Exchange Act, the Owner Trustee shall (i) on or before the fifth Business Day of each month, provide to the Depositor, in writing, such information regarding the Owner Trustee as is requested for the purpose of
compliance with Item 1117 of Regulation AB; provided, however, that the Owner Trustee shall not be required to provide such information in the event that there has been no change to the information previously provided by the Owner
Trustee to the Depositor, and (ii) as promptly as practicable following notice to or discovery by a Responsible Officer of the Owner Trustee of any changes to such information, provide to the Depositor, in writing, such updated information.

 SECTION 11.13. Information Request. The Owner Trustee shall provide any information available and deliverable without undue expense
as requested by the Servicer, the Issuer, the Seller or any of their Affiliates, in order to comply with or obtain more favorable treatment under any current or future law, rule, regulation, accounting rule or principle. 
 [Remainder of Page Intentionally Left Blank] 
  

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 IN WITNESS WHEREOF, the parties hereto have caused this Trust Agreement to be duly executed by their
respective officers hereunto duly authorized as of the day and year first above written. 
  

			
	WILMINGTON TRUST COMPANY
		
	By:	 	 /s/ J. Christopher Murphy

	Name:	 	J. Christopher Murphy
	Title:	 	Financial Services Officer

  

					
		 	S-1	 	Trust Agreement (2007-A)

			
	CAPITAL ONE AUTO RECEIVABLES, LLC
		
	By:	 	 /s/ Jerry Hamstead

	Name:	 	Jerry Hamstead
	Title:	 	Assistant Vice President

  

					
		 	S-2	 	Trust Agreement (2007-A)

 EXHIBIT A 
 FORM OF CERTIFICATE 
  

			
	NUMBER	 	100% BENEFICIAL INTEREST
	R-1	 	

 CAPITAL ONE AUTO FINANCE TRUST 2007-A 
 CERTIFICATE 
 Evidencing the 100% beneficial interest in all of the assets of the
Issuer (as defined below), which consist primarily of motor vehicle receivables, including motor vehicle retail installment sales contracts and/or installment loans that are secured by new and used automobiles and light-duty trucks. 
 (This Certificate does not represent an interest in or obligation of Capital One Auto Receivables, LLC, Capital One Auto Finance, Inc. or any of their
respective Affiliates, except to the extent described below.) 
 THIS CERTIFICATE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OR ANY
OTHER APPLICABLE SECURITIES OR “BLUE SKY” LAWS OF ANY STATE OR OTHER JURISDICTION, AND MAY NOT BE RESOLD, ASSIGNED, PLEDGED OR OTHERWISE TRANSFERRED EXCEPT IN COMPLIANCE WITH THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT OR ANY OTHER
APPLICABLE SECURITIES OR “BLUE SKY” LAWS, PURSUANT TO AN EXEMPTION THEREFROM OR IN A TRANSACTION NOT SUBJECT THERETO. 
 THIS
CERTIFIES THAT
                                        
         is the registered owner of a 100% nonassessable, fully-paid, beneficial interest in the Trust Estate of CAPITAL ONE AUTO FINANCE TRUST 2007-A, a Delaware statutory trust (the
“Issuer”) formed by Capital One Auto Receivables, LLC, a Delaware limited liability company, as depositor (the “Seller”). 
 The Issuer was created pursuant to a Trust Agreement dated as of January 10, 2007 (as amended and restated as of February 15, 2007, the “Trust Agreement”), between the Seller and Wilmington
Trust Company, as owner trustee (the “Owner Trustee”), a summary of certain of the pertinent provisions of which is set forth below. To the extent not otherwise defined herein, the capitalized terms used herein have the meanings
assigned to them in Appendix A to the Sale and Servicing Agreement, dated as of February 15, 2007, among the Seller, the Issuer, The Bank of New York, as Indenture Trustee, and Capital One Auto Finance, Inc., as Servicer, as the same may
be amended or supplemented from time to time. 
 This Certificate is issued under and is subject to the terms, provisions and conditions of
the Trust Agreement, to which Trust Agreement the holder of this Certificate by virtue of the acceptance hereof assents and by which such holder is bound. The provisions and conditions of the Trust Agreement are hereby incorporated by reference as
though set forth in their entirety herein. 
  

 A-1 

 The holder of this Certificate acknowledges and agrees that its rights to receive distributions in
respect of this Certificate are subordinated to the rights of the Noteholders, the Note Insurer and the Swap Counterparty as described in the Indenture, the Sale and Servicing Agreement and the Trust Agreement, as applicable. 
 THIS CERTIFICATE SHALL BE CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF DELAWARE, WITHOUT REFERENCE TO ITS CONFLICT OF LAW PROVISIONS, AND THE
OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS. 
 By accepting this
Certificate, the Certificateholder hereby covenants and agrees that prior to the date which is one year and one day after payment in full of all obligations of each Bankruptcy Remote Party in respect of all securities issued by the Bankruptcy Remote
Parties (i) such Person shall not authorize such Bankruptcy Remote Party to commence a voluntary winding-up or other voluntary case or other proceeding seeking liquidation, reorganization or other relief with respect to such Bankruptcy Remote
Party or its debts under any bankruptcy, insolvency or other similar law now or hereafter in effect in any jurisdiction or seeking the appointment of an administrator, a trustee, receiver, liquidator, custodian or other similar official with respect
to such Bankruptcy Remote Party or any substantial part of its property or to consent to any such relief or to the appointment of or taking possession by any such official in an involuntary case or other proceeding commenced against such Bankruptcy
Remote Party, or to make a general assignment for the benefit of any party hereto or any other creditor of such Bankruptcy Remote Party, and (ii) such Person shall not commence or join with any other Person in commencing any proceeding against
such Bankruptcy Remote Party under any bankruptcy, reorganization, liquidation or insolvency law or statute now or hereafter in effect in any jurisdiction. 
 This Certificate may not be acquired by or for the account of or with the assets of (a) an employee benefit plan (as defined in Section 3(3) of ERISA) that is subject to the provisions of Title I of
ERISA, (b) a plan described in Section 4975(e)(1) of the Code or (c) any entity whose underlying assets include plan assets by reason of an employee benefit plan’s or other plan’s investment in the entity (each, a
“Benefit Plan”). By accepting and holding this Certificate, the holder hereof shall be deemed to have represented and warranted that it is not a Benefit Plan and is not purchasing on behalf of or with the assets of a Benefit Plan.
By its acquisition and holding of this Certificate (or any interest herein), each Certificateholder that is a governmental plan, church plan or foreign plan shall be deemed to represent and warrant that its acquisition, holding and disposition of
the Certificate (or interest therein) will not result in a nonexempt prohibited transaction under, or a violation of, any applicable law that is substantially similar to ERISA or Section 4975 of the Code. 
 It is the intention of the parties to the Trust Agreement that, solely for income and franchise tax purposes, (i) so long as there is a single
Certificateholder, the Issuer will be disregarded as an entity separate from such Certificateholder, and if there is more than one Certificateholder, the Issuer will be treated as a partnership; (ii) the Seller will be disregarded as an entity
separate from COAF; and (iii) the Notes will be characterized as debt. By accepting this Certificate, the Certificateholder agrees to take no action inconsistent with the foregoing intended tax treatment. 
  

 A-2 

 By accepting this Certificate, the Certificateholder acknowledges that this Certificate represents a
beneficial interest in the Issuer only and does not represent interests in or obligations of the Seller, the Servicer, the Administrator, the Owner Trustee, the Indenture Trustee or any of their respective Affiliates and no recourse may be had
against such parties or their assets, except as expressly set forth or contemplated in this Certificate, the Trust Agreement or any other Transaction Document. 
  

 A-3 

 IN WITNESS WHEREOF, the Issuer has caused this Certificate to be duly executed. 
  

					
		 	CAPITAL ONE AUTO FINANCE TRUST 2007-A
			
		 	By:	 	Wilmington Trust Company, not in its individual capacity, but solely as Owner Trustee
			
	Dated:                     	 	By:	 	  

		 	Name:	 	  

		 	Title:	 	  

  

 A-4 

 OWNER TRUSTEE’S CERTIFICATE OF AUTHENTICATION 
 This is the Certificate referred to in the within-mentioned Trust Agreement. 
  

			
	WILMINGTON TRUST COMPANY, not in its individual capacity but solely as Owner Trustee
		
	By:	 	  

		 	Authenticating Agent
		
	By:	 	  

		 	Authorized Signatory

  

 A-5

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