Document:

exv10w17

Exhibit 10.17

EMPLOYMENT AGREEMENT

     THIS EMPLOYMENT AGREEMENT (this “Agreement”) is entered as of December 21, 2010, by
and between Claire’s Boutiques, Inc., a Colorado corporation (the “Company”), and Jay
Friedman (the “Executive”).

     WHEREAS, the Company desires to employ the Executive on the terms and subject to the
conditions set forth herein and the Executive has agreed to be so employed.

     NOW, THEREFORE, in consideration of the mutual representations, warranties, covenants and
agreements set forth herein, and for other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound,
agree as follows:

1. Employment of Executive; Duties.

     1.1 Title. During the Employment Period (as defined in Section 2 hereof), the
Executive shall serve as the President of the North American division of Claire’s.

     1.2 Duties.

     (a) During the Employment Period, the Executive shall have such executive and
managerial powers and duties as may be assigned to the Executive by the Chief
Executive Officer or the Board of Directors (the “Board”) of the Company or
Claire’s Stores, Inc. (the “Company Parent”), commensurate with the Executive’s
position as President of North America, and shall report to the Chief Executive
Officer or the Board. The Board or the Chief Executive Officer may adjust the
duties and responsibilities of the Executive as President of the North American
division of Claire’s, in a manner consistent with such position, notwithstanding
the specific title set forth in Section 1.1 hereof, based upon the Company’s or
Company Parent’s needs from time to time. Except for sick leave, reasonable
vacations and excused leaves of absence, the Executive shall, throughout the
Employment Period, devote the whole of the Executive’s business time, attention,
knowledge and skills faithfully, and to the best of the Executive’s ability, to the
duties and responsibilities of the Executive’s positions in furtherance of the
business affairs and activities of the Company and its subsidiaries and Affiliates
(as defined in Section 5.4(a) hereof).

     (b) During the Employment Period, the Executive’s principal place of
employment shall be at the Company’s office in Hoffman Estates, Illinois. The
Executive shall relocate his principal residence to the greater Chicago
metropolitan area.

 

 

     (c) The Executive shall at all times be subject to, comply with, observe and
carry out (i) the Company’s rules, regulations, policies and codes of
ethics and/or conduct applicable to its employees generally and in effect from
time to time and (ii) such rules, regulations, policies, codes of ethics and/or
conduct, directions and restrictions as the Board may from time to time reasonably
establish or approve generally for senior executive officers of the Company.

2. Term of Employment. The Executive’s employment with the Company will commence on
January 3, 2011 (the date of such commencement, the “Effective Date”). This Agreement
shall govern the terms and conditions of the Executive’s employment by the Company, and the
termination thereof, during the period that commences on the Effective Date and ends on February 2,
2013 (the “Term”), which date coincides with the last day of the Company’s 2012 fiscal
year; provided that the Term shall automatically be extended for successive one year periods unless
either party provides written notice (a “Notice of Non-Renewal”) at least ninety (90) days
prior to the expiration of the Term that the Term shall not be further extended. The portion of
the Term during which the Executive is actually employed by the Company under this Agreement is
referred to as the “Employment Period”.

3. Compensation and General Benefits.

     3.1 Base Salary.

     (a) During the Employment Period, the Company agrees to pay to the Executive a
base salary at a rate equal to $600,000 per annum (such base salary, as may be
adjusted from time to time pursuant to Section 3.1(b), is referred to herein as the
“Base Salary”). The Executive’s Base Salary, less amounts required to be
withheld under applicable law, shall be payable in equal installments in accordance
with the Company’s normal payroll practices and procedures in effect from time to
time for the payment of salaries to officers of the Company, but in no event less
frequently than monthly.

     (b) The Company shall review the Executive’s performance on an annual basis
and, based on such review, may change the Base Salary, as it, acting in its sole
discretion, shall determine to be reasonable and appropriate.

     3.2 Bonus.

     (a) Upon commencement of employment, the Executive shall receive a one-time
bonus of $150,000. Subject to Section 3.6(a) below, this bonus will be paid with
the first regular payroll date following the Effective Date. If the Executive’s
employment terminates under Section 4.4 prior to the first anniversary of the
Effective Date, the Executive shall be required to repay 100% ($150,000) of this
bonus, and if such termination occurs on or after the first anniversary of the
Effective Date but prior to the second anniversary of the Effective Date, the
Executive shall be required to repay to the Company 50% ($75,000) of this bonus.

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     (b) Pursuant to the Company’s Annual Incentive Plan (the “AIP”), with
respect to each fiscal year of the Company that begins after January 29,
2011 and that ends during the Employment Period, the Executive shall be
eligible to receive from the Company an annual performance bonus (the “Annual
Bonus”), based upon the attainment of annual goals established by the Board or
the Compensation Committee of the Board, which may include comparable store sales,
earnings before interest, taxes, depreciation and amortization (“EBITDA”)
and/or cash generation goals. The Executive’s target Annual Bonus shall be
one-hundred percent (100%) of the Executive’s Base Salary paid during the
applicable fiscal year if the targeted levels of performance to be determined by
the Company or the Company Parent for the applicable year are met, with fifty
percent (50%) of the Executive’s Base Salary paid during the applicable fiscal year
payable if threshold levels of performance are met, and one-hundred fifty percent
(150%) of the Executive’s Base Salary paid during the applicable fiscal year
payable if maximum levels of performance are achieved. Any Annual Bonus earned
shall be payable in full as soon as reasonably practicable following the
determination thereof, but in no event later than April 15 of the following year
(unless administratively impracticable to do so because the Company’s results for
the applicable year had not yet been finalized) and in accordance with the
Company’s normal payroll practices and procedures. Notwithstanding the foregoing
language, but subject to the last sentence of this Section 3.2(b), with respect to
the fiscal year ending January 28, 2012, the Executive will receive a minimum
Annual Bonus of $300,000 (the “Guaranteed Bonus”). Except as otherwise expressly
provided in the AIP and Section 4 hereof, any Annual Bonus (or portion thereof)
payable under this Section 3.2(b) shall not be earned and payable unless the
Executive is employed by the Company on the last day of the period to which such
Annual Bonus relates, provided that no Annual Bonus for any preceding period shall
be payable if the Executive’s employment is terminated for Cause; and further
provided that, with respect to the Guaranteed Bonus, the Executive must be employed
by the Company on the day Annual Bonuses are paid by the Company to other similarly
situated employees in accordance with the Company’s normal payroll practices and
procedures.

     3.3 Expenses/Relocation.

     (a) In addition to any amounts to which the Executive may be entitled pursuant
to the other provisions of this Section 3 or elsewhere herein, the Executive shall
be entitled to receive reimbursement from the Company for all reasonable and
necessary expenses incurred by the Executive during the Term in performing the
Executive’s duties hereunder on behalf of the Company or the Company Parent,
subject to, and consistent with, the Company’s policies for expense payment and
reimbursement, in effect from time to time.

     (b) The Executive will be entitled to reimbursement for customary relocation
expenses under the Company’s relocation policy. The Executive shall also be
entitled to a one-time relocation allowance of $100,000 payable upon the relocation
of his and his spouse’s principal residence to the greater Chicago metropolitan
area. If the Executive’s employment terminates under Section 4.4 prior to the
first anniversary of the Effective Date, the Executive

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shall be required to repay to the Company 100% of all relocation benefits
(including such relocation allowance and any other customary benefits and any
additional benefits mutually agreed upon), and if such termination occurs on or
after the first anniversary of the Effective Date but prior to the second
anniversary of the Effective Date, the Executive shall be required to repay to the
Company 50% of such relocation benefits.

     (c) Within 30 days after the Effective Date, the Company shall, upon
presentation of a reasonably detailed invoice, pay the reasonable professional fees
incurred by the Executive in connection with the negotiation and documentation of
this Agreement, up to a maximum of $ 15,000.

     3.4 Benefits.

     (a) During the Employment Period, in addition to any amounts to which the
Executive may be entitled pursuant to the other provisions of this Section 3 or
elsewhere herein, the Executive shall be entitled to participate in, and to receive
benefits under, any benefit plans, arrangements or policies made available by the
Company to its senior executive officers generally, subject to and on a basis
consistent with the terms, conditions and overall administration of each such plan,
arrangement or policy; provided that the Executive shall be entitled to no less
than four weeks of vacation and paid time off to be taken in accordance with
Company policy.

     (b) During the Employment Period, the Company shall provide the Executive with
a monthly automobile allowance of $850.

     3.5 Employee Stock Options.

     (a) Claire’s, Inc. has adopted a stock option plan, in the form attached
hereto as Exhibit A and incorporated herein by reference (the “Plan”), for
the grant of stock options to employees or directors of the Company or of any
subsidiary of the Company to purchase shares of Common Stock of Claire’s, Inc. (the
“Common Stock”).

     (b) On or shortly after the Effective Date, pursuant to the Plan, the
Executive shall be granted nonqualified options to purchase 320,000 shares of
Common Stock at a price per share equal to $10 for its shares on the terms set
forth in the Option Grant Letter attached hereto as Exhibit B and incorporated
herein by reference (the “Option Letter”).

     3.6 Stock Investment.

     (a) On or shortly after the Effective Date, the Executive shall have the
opportunity to purchase up to 30,000 shares of Common Stock for $10 per share. The
purchase of these shares (the “Stock Purchase”) shall otherwise be on the
terms set forth in the Stock Letter attached hereto as Exhibit C.

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     (b) Upon completion of the Stock Purchase, the Executive shall be granted an
additional nonqualified stock option to purchase a number of shares equal to the
number of shares purchased pursuant to Section 3.6(a) at a price per share equal to
$10.00 on the terms set forth in the Stock Letter.

4. Termination.

     4.1 General. The employment of the Executive hereunder (and the Employment Period)
shall terminate as provided in Section 2 hereof, unless earlier terminated in accordance with the
provisions of this Section 4.

     4.2 Death or Disability of the Executive.

     (a) The employment of the Executive hereunder (and the Employment Period)
shall terminate upon (i) the death of the Executive and (ii) at the option of the
Company, upon not less than fifteen (15) days’ prior written notice to the
Executive or the Executive’s personal representative or guardian, if the Executive
suffers a “Total Disability” (as defined in Section 4.2(b) hereof). Upon
termination for death or Total Disability, the Company shall pay to the Executive,
guardian or personal representative, as the case may be, a prorated share of the
Annual Bonus pursuant to Section 3.2(b) hereof (based on the period of actual
employment) that the Executive would have been entitled to had the Executive worked
the full year during which the termination occurred, which bonus shall be based on
actual performance of the Company for the year of such termination. Any bonus
shall be payable as soon as reasonably practicable following the determination
thereof, but in no event later than April 15 of the following year (unless
administratively impracticable to do so because the Company’s results for the
applicable year had not yet been finalized), and in accordance with the Company’s
normal payroll practices and procedures.

     (b) For purposes of this Agreement, “Total Disability” shall mean (i)
if the Executive is subject to a legal decree of incompetency (the date of such
decree being deemed the date on which such disability occurred), (ii) the written
determination by a physician selected by the Company and acceptable to Executive
(which acceptance shall not be unreasonably withheld), (which expense shall be
paid by the Company) that, because of a medically determinable disease, injury or
other physical or mental disability, the Executive is unable substantially to
perform, with or without reasonable accommodation, the material duties of the
Executive required hereby, and that such disability has lasted for ninety (90)
consecutive days or any one hundred twenty (120) days during the immediately
preceding twelve (12)-month period or is, as of the date of determination,
reasonably expected to last six (6) months or longer after the date of
determination, in each case based upon medically available reliable information or
(iii) Executive’s qualifying for benefits under the Company’s long-term disability
coverage, if any, applicable to its senior executives generally, in conjunction
with determining mental and/or physical disability for purposes of this Agreement,
the Executive hereby consents to (x) any

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examinations that the Company reasonably determines are relevant to a
determination of whether the Executive is mentally and/or physically disabled or
are required by the Company physician, (y) furnish such medical information as may
be reasonably requested and (z) waive any applicable physician patient privilege
that may arise because of such examination. All expenses incurred by the Executive
under this subsection shall be paid by the Company.

	 	4.3	 	Termination by the Company Without Cause, Non-Renewal of the Agreement  by the
Company, Resignation by the Executive For Good Reason or in the  event of a Change of
Control.

     (a) The Company may terminate the Executive’s employment without “Cause” (as
defined in Section 4.3(f)), and thereby terminate the Executive’s employment (and
the Employment Period) under this Agreement at any time with no requirement for
notice to the Executive. In addition, the Company may terminate the Executive upon
expiration of the Term by providing a Notice of Non-Renewal pursuant to Section 2
hereof.

     (b) The Executive may resign, and thereby terminate the Executive’s employment
(and the Employment Period), at any time for “Good Reason” (as defined in Section
4.3(e) hereof), upon not less than thirty (30) days’ prior written notice to the
Company specifying in reasonable detail the reason therefore; provided,
however, that the Company shall have a reasonable opportunity to cure any
such Good Reason (to the extent possible) within such thirty (30) day notice period
after the Company’s receipt of such notice; and provided further
that, if the Company is not seeking to cure, the Company shall not be obligated to
allow the Executive to continue working during such period and may, in its sole
discretion, accelerate such termination of employment (and the Employment Period)
to any date during such period. Executive may not terminate employment under this
Agreement for Good Reason regarding any of the Company’s acts or omissions of which
Executive had actual notice for sixty (60) days or more, or such other period
mutually agreed to in writing by the Company and the Executive, prior to giving
notice of termination for Good Reason.

     (c) In the event the Executive’s employment is terminated pursuant to this
Section 4.3, then, subject to Section 4.3(d) hereof, the following provisions shall
apply:

     (i) The Company shall continue to pay the Executive the Base Salary to which
the Executive would have been entitled pursuant to Section 3.1 hereof (at the Base
Salary rate during the year of termination) for a twelve (12)-month period following
such date of termination, with all such amounts payable in accordance with the
Company’s normal payroll practices and procedures in the same manner and at the same
time as though the Executive remained employed by the Company.

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     (ii) If such termination occurs upon or within eighteen (18) months following a
Change of Control (as defined in Exhibit B attached hereto), the Company shall
continue to pay the Executive the Base Salary to which the Executive would have been
entitled pursuant to Section 3.1 hereof (at the Base Salary rate during the year of
termination) for the greater of (A) twelve (12)-month period following such date of
termination, or (B) the period until the end of the then remaining Term, with all
such amounts payable in accordance with the Company’s normal payroll practices and
procedures in the same manner and at the same time as though the Executive remained
employed by the Company.

     (iii) In the event the Executive’s employment is terminated pursuant to this
Section 4.3 without Cause, and if the Company has previously effected reductions in
the Executive’s Base Salary and the base salary of all senior executives of the
Company, which reductions were substantially similar, then the Base Salary rate for
purposes of Section 4.3(c)(i) or (ii) hereof shall be the Base Salary rate in effect
immediately prior to such reductions.

     (iv) The Company shall continue to provide the Executive with group health
insurance coverage as provided herein, as such coverage may be amended from time to
time. If the Executive elects continuation coverage (with respect to the
Executive’s coverage and/or any eligible dependent coverage) under the Consolidated
Omnibus Budget Reconciliation Act of 1986 (“COBRA Continuation Coverage”)
with respect to the Company’s group health insurance plan, the Executive shall be
responsible for payment of the monthly cost of COBRA Continuation Coverage. Unless
prohibited by law, the Company shall reimburse the Executive for any portion of the
monthly cost of COBRA Continuation Coverage that exceeds the amount of the monthly
health insurance premium (with respect to the Executive’s coverage and/or any
eligible dependent coverage) payable by the Executive immediately prior to the date
of Executive’s termination, such reimbursements to continue (A) for a period of
twelve (12) months or (B) in the event that the Executive’s Base Salary is being
paid pursuant to Section 4.3(c)(ii), for the period set forth therein. The Company
shall pay the reimbursements on a monthly basis in accordance with the Company’s
normal payroll practices and procedures.

     (d) As a condition precedent to the Executive’s right to receive the benefits
set forth in Section 4.3(c) hereof, the Executive agrees to execute a release of
the Company and its respective Affiliates, officers, directors, stockholders,
employees, agents, insurers, representatives and successors from and against any
and all claims that the Executive may have against any such Person (as defined in
Section 5.4(f) hereof) relating to the Executive’s employment by the Company and
the termination thereof, in the form attached hereto as Exhibit D, as such form may
be amended from time to time to comply with changes in law. In addition, the
Executive agrees that his right to receive and retain the benefits set forth in
Section 4.3(c) hereof shall be conditional upon his continuing compliance with the
restrictive covenants contained in Section 5.

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     (e) For purposes of this Agreement, the Executive would be entitled to
terminate the Executive’s employment for “Good Reason” if without the
Executive’s prior written consent:

     (i) the Company fails to comply with any material obligation imposed by this
Agreement, including a material diminution of the Executive’s duties as President of
the North America division;

     (ii) the Company effects a reduction in the Executive’s Base Salary, unless all
senior executives of the Company receive a substantially similar reduction in base
salary; or

     (iii) the Company requires the Executive to be based (excluding regular travel
responsibilities) at any office or location more than 75 miles outside of Hoffman
Estates, Illinois, provided that the Executive had previously relocated his
principal residence to the greater Chicago metropolitan area.

     (f) For purposes of this Agreement, “Cause” means the occurrence of any one or
more of the following events:

     (i) an act of fraud, embezzlement, theft or any other material violation of law
that occurs during or in the course of Executive’s employment with the Company;

     (ii) intentional damage to the Company’s assets;

     (iii) intentional disclosure of the Company’s confidential information contrary
to the Company’s policies;

     (iv) material breach of Executive’s obligations under this Agreement;

     (v) intentional engagement in any activity which would constitute a breach of
Executive’s duty of loyalty or of the Executive’s obligations under this Agreement;

     (vi) material breach of any of material the Company’s policy that has been
communicated to the Executive in writing;

     (vii) the willful and continued failure to substantially perform Executive’s
duties for the Company (other than as a result of incapacity due to physical or
mental illness); or

     (viii) willful conduct by Executive that is demonstrably and materially
injurious to the Company, monetarily or otherwise.

     For purposes of this Section 4.3(f), an act, or a failure to act, shall not be deemed
“willful” or “intentional” unless it is done, or omitted to be done, by Executive in bad
faith or without a reasonable belief that Executive’s action or omission was in the best
interest of the Company. Failure to meet performance standards or objectives, by
itself, does not constitute “Cause”.

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     4.4 Termination For Cause, Voluntary Resignation Other Than For Good Reason or Election
Not to Extend the Term by the Executive.

     (a) (i) the Company may, upon action of the Board, terminate the employment of
the Executive (and the Employment Period) at any time for “Cause,” (ii) the
Executive may voluntarily resign other than for Good Reason and thereby terminate
the Executive’s employment (and the Employment Period) under this Agreement at any
time upon not less than thirty (30) days’ prior written notice or (iii) the
Executive may provide a Notice of Non-Renewal pursuant to Section 2 hereof, in
which case the Executive’s employment will terminate upon expiration of the Term.

     (b) Upon termination by the Company for Cause, by the Executive as the result
of resignation for other than for Good Reason, or by the Executive at the end of
the Term following a Notice of Non-Renewal provided by the Executive, the Executive
shall be entitled to receive all amounts of earned but unpaid Base Salary and
benefits accrued and vested through the date of such termination.

     (c) Before the Company may terminate the Executive for Cause pursuant to
Section 4.4(a)(i), the Board shall deliver to the Executive a written notice of the
Company’s intent to terminate the Executive for Cause, and the Executive shall have
been given a reasonable opportunity to cure any such acts or omissions (which are
susceptible of cure as reasonably determined by the Board by majority vote thereof)
within thirty (30) days after the Executive’s receipt of such notice.

     4.5 Resignation from Officer Positions. Upon the termination of the Executive’s
employment for any reason (unless otherwise agreed in writing by the Company and the Executive),
the Executive will be deemed to have resigned, without any further action by the Executive, from
any and all officer, director and/or director positions that the Executive, immediately prior to
such termination, (a) held with the Company or any of its Affiliates and (b) held with any other
entities at the direction of, or as a result of the Executive’s affiliation with, the Company or
any of its Affiliates. If for any reason this Section 4.5 is deemed to be insufficient to
effectuate such resignations, then Executive will, upon the Company’s request, execute any
documents or instruments that the Company may deem necessary or desirable to effectuate such
resignations.

     4.6 Section 409A of the Code. Notwithstanding anything to the contrary in this
Agreement, the parties mutually desire to avoid adverse tax consequences associated with the
application of Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”) to this
Agreement and agree to cooperate fully and take appropriate reasonable actions that preserve to the
Executive, to the maximum extent practical, the full economic benefit of this Agreement while
avoiding any such consequences under Section 409A of the Code, including delaying payments and

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reforming the form of the Agreement if such action would reduce or eliminate taxes and/or
interest payable as a result of Section 409A of the Code. In this regard, notwithstanding anything
to the contrary in this Section 4, to the extent necessary to comply with Section 409A of the Code,
any payment required under this Section 4 shall be deferred for a period of six (6) months, but not
longer than six (6) months, regardless of the circumstances giving rise to or the basis for such
payment.

     5. Confidentiality, Work Product and Non-Competition and Non-Solicitation.

	 	5.1	 	Confidentiality.

     (a) In connection with the Executive’s employment with the Company, the
Company promises to provide the Executive with access to “Confidential Information”
(as defined in Section 5.4(d) hereof) in support of the Executive’s employment
duties. The Executive recognizes that the Company’s business interests require a
confidential relationship between the Company and the Executive and the fullest
practical protection and confidential treatment of all Confidential Information.
At all times, both during and after the Employment Period, the Executive shall not
directly or indirectly: (i) appropriate, download, print, copy, remove, use,
disclose, divulge, communicate or otherwise “Misappropriate” (as defined in Section
5.4(e) hereof), any Confidential Information, including, without limitation,
originals or copies of any Confidential Information, in any media or format, except
for the Company’s benefit within the course and scope of the Executive’s employment
or with the prior written consent of a majority of the Board; or (ii) take or
encourage any action that would circumvent, interfere with or otherwise diminish
the value or benefit of the Confidential Information to any of the Company Parties
(as defined in Section 5.4(b) hereof).

     (b) All Confidential Information, and all other information and property
affecting or relating to the business of the Company Parties within the Executive’s
possession, custody or control, regardless of form or format, shall remain, at all
times, the property of the respective Company Parties, the appropriation, use
and/or disclosure of which is governed and restricted by this Agreement.

     (c) The Executive acknowledges and agrees that:

     (i) the Executive occupies a unique position within the Company, and the
Executive is and will be intimately involved in the development and/or
implementation of Confidential Information;

     (ii) in the event the Executive breaches this Section 5.1 with respect to any
Confidential Information, such breach shall be deemed to be a Misappropriation of
such Confidential Information; and

     (iii) any Misappropriation of Confidential Information will result in immediate
and irreparable harm to the Company.

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     (d) Upon receipt of any formal or informal request, by legal process or
otherwise, seeking the Executive’s direct or indirect disclosure or production of
any Confidential Information to any Person, the Executive shall promptly and timely
notify the Company and provide a description and, if applicable, hand deliver a
copy of such request to the Company. The Executive irrevocably nominates and
appoints the Company as the Executive’s true and lawful attorney-in-fact to act in
the Executive’s name, place and stead to perform any act that the Executive might
perform to defend and protect against any disclosure of Confidential Information.

     (e) At any time the Company may request, during or after the Employment
Period, the Executive shall deliver to the Company all originals and copies of
Confidential Information and all other information and property affecting or
relating to the business of the Company Parties within the Executive’s possession,
custody or control, regardless of form or format, including, without limitation any
Confidential Information produced by the Executive. Both during and after the
Employment Period, the Company shall have the right of reasonable access to review,
inspect, copy and/or confiscate any Confidential Information within the Executive’s
possession, custody or control.

     (f) Upon termination or expiration of this Agreement, the Executive shall
immediately return to the Company all Confidential Information, and all other
information and property affecting or relating to the business of the Company
Parties, within the Executive’s possession, custody or control, regardless of form
or format, without the necessity of a prior Company request.

     (g) During the Employment Period, the Executive represents and agrees that the
Executive will not use or disclose any confidential or proprietary information or
trade secrets of others, including but not limited to former employers, and that
the Executive will not bring onto the premises of the Company or access such
confidential or proprietary information or trade secrets of such others, unless
consented to in writing by said others, and then only with the prior written
authorization of the Company.

     5.2 Work Product/Intellectual Property.

     (a) Assignment. The Executive hereby assigns to the Company all
right, title and interest to all “Work Product” (as defined in Section 5.4(h)
hereof) that (i) relates to any of the Company Parties’ actual or anticipated
business, research and development or existing or future products or services, or
(ii) is conceived, reduced to practice, developed or made using any equipment,
supplies, facilities, assets, information or resources of any of the Company
Parties (including, without limitation, any intellectual property rights).

     (b) Disclosure. The Executive shall promptly disclose Work Product to
the Board and perform all actions reasonably requested by the Company (whether
during or after the Employment Period) to establish and confirm the

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ownership and proprietary interest of any of the Company Parties in any Work
Product (including, without limitation, the execution of assignments, consents,
powers of attorney, applications and other instruments). The Executive shall not
file any patent or copyright applications related to any Work Product except with
the written consent of a majority of the Board.

     5.3 Non-Competition and Non-Solicitation.

     (a) In consideration of the Confidential Information being provided to the
Executive as stated in Section 5.1 hereof, and other good and valuable new
consideration as stated in this Agreement, including, without limitation,
employment and/or continued employment with the Company, and the business
relationships, Company goodwill, work experience, client, customer and/or vendor
relationships and other fruits of employment that the Executive will have the
opportunity to obtain, use and develop under this Agreement, the Executive agrees
to the restrictive covenants stated in this Section 5.3.

     (b) From the Effective Date until the end of the Restricted Period (as defined
in Section 5.4(g) hereof), the Executive agrees that the Executive will not,
directly or indirectly, on the Executive’s own behalf or on the behalf of any other
Person, within the United States of America or in any other country or territory in
which the businesses of the Company are conducted:

     (i) engage in a Competing Business (as defined in Section 5.4(c) hereof),
including, without limitation, by owning, managing, operating, controlling, being
employed by, providing services as a consultant or independent contractor to or
participating in the ownership, management, operation or control of any Competing
Business;

     (ii) induce or attempt to induce any customer, vendor, supplier, licensor or
other Person in a business relationship with any Company Party, for or with which
the Executive or employees working under the Executive’s supervision had any direct
or indirect responsibility or contact during the Employment Period, (A) to do
business with a Competing Business or (B) to cease, restrict, terminate or otherwise
reduce business with the Company for the benefit of a Competing Business, regardless
of whether the Executive initiates contact; or

     (iii) (A) solicit, recruit, persuade, influence or induce, or attempt to
solicit, recruit, persuade, influence or induce anyone employed or otherwise
retained by any of the Company Parties (including any independent contractor or
consultant), to cease or leave their employment or contractual or consulting
relationship with any Company Party, regardless of whether the Executive initiates
contact for such purposes or (B) hire, employ or otherwise attempt to establish, for
any Person, any employment, agency, consulting, independent contractor or other
business relationship with any Person who is or was employed

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or otherwise retained by any of the Company Parties (including any independent
contractor or consultant).

     (c) The parties hereto acknowledge and agree that, notwithstanding anything in
Section 5.3(b)(i) hereof, (i) the Executive may own or hold, solely as passive
investments, securities of Persons engaged in any business that would otherwise be
included in Section 5.3(b)(i), as long as with respect to each such investment the
securities held by the Executive do not exceed five percent (5%) of the outstanding
securities of such Person and such securities are publicly traded under Section 12
or Section 15 of the Securities Exchange Act of 1934, as amended (the “Exchange
Act”), and (ii) the Executive may serve on the board of directors (or other
comparable position) or as an officer of any entity at the request of the Board;
provided, however, that in the case of investments otherwise
permitted under clause (i) above, the Executive shall not be permitted to, directly
or indirectly, participate in, or attempt to influence, the management, direction
or policies of (other than through the exercise of any voting rights held by the
Executive in connection with such securities), or lend the Executive’s name to, any
such Person.

     (d) The Executive acknowledges that (i) the restrictive covenants contained in
this Section 5.3 hereof are ancillary to and part of an otherwise enforceable
agreement, such being the agreements concerning Confidential Information and other
consideration as stated in this Agreement, (ii) at the time that these restrictive
covenants are made, the limitations as to time, geographic scope and activity to be
restrained, as described herein, are reasonable and do not impose a greater
restraint than necessary to protect the good will and other legitimate business
interests of the Company, including without limitation, Confidential Information
(including trade secrets), client, customer and/or vendor relationships, client
and/or customer goodwill and business productivity, (iii) in the event of
termination of the Executive’s employment, the Executive’s experiences and
capabilities are such that the Executive can obtain gainful employment without
violating this Agreement and without the Executive incurring undue hardship, (iv)
based on the relevant benefits and other new consideration provided for in this
Agreement, including, without limitation, the disclosure and use of Confidential
Information, the restrictive covenants of this Section 5.3, as applicable according
to their terms, shall remain in full force and effect even in the event of the
Executive’s involuntary termination from employment, with or without Cause and (v)
the Executive has carefully read this Agreement and has given careful consideration
to the restraints imposed upon the Executive by this Agreement and consents to the
terms of the restrictive covenants in this Section 5.3, with the knowledge that
this Agreement may be terminated at any time in accordance with the provisions
hereof.

13

 

     5.4 Definitions. For purposes of this Agreement, the following terms shall have the
following meanings:

     (a) An “Affiliate” of any specified Person means any other Person,
whether now or hereafter existing, directly or indirectly controlling or controlled
by, or under direct or indirect common control with, such specified Person. For
purposes hereof, “control” or any other form thereof, when used with respect to any
Person, means the power to direct the management and policies of such Person,
directly or indirectly, whether through the ownership of voting securities, by
contract or otherwise; and the terms “controlling” and “controlled” shall have
meanings correlative to the foregoing.

     (b) “Company Parties” means the Company, and its direct and indirect
parents, subsidiaries and Affiliates, and their successors in interest.

     (c) “Competing Business” means any business that owns or operates a
specialty retail chain, which chain derives 15% or more of its revenue for the
trailing 12 months from the sale of costume jewelry or accessories targeted to
girls or women. For purposes of this definition only, accessories shall not be
deemed to include footwear; provided, that, if such specialty retail chain is not
primarily in the business of selling footwear, then footwear shall be included in
determining the 15% amount.

     (d) Confidential Information.

     (i) Definition. “Confidential Information” means any and all
material, information, ideas, inventions, formulae, patterns, compilations,
programs, devices, methods, techniques, processes, know how, plans (marketing,
business, strategic, technical or otherwise), arrangements, pricing and other data
of or relating to any of the Company Parties (as well as their customers and/or
vendors) that is confidential, proprietary or trade secret (A) by its nature, (B)
based on how it is treated or designated by a Company Party, (C) because the
disclosure of which would have a material adverse effect on the business or planned
business of any of the Company Parties and/or (D) as a matter of law.

     (ii) Exclusions. Confidential Information does not include material,
data, and/or information (A) that any Company Party has voluntarily placed in the
public domain, (B) that has been lawfully and independently developed and publicly
disclosed by third parties, (C) that constitutes the general non-specialized
knowledge and skills gained by the Executive during the Employment Period or (D)
that is otherwise in the public domain through lawful means; provided,
however, that the unauthorized appropriation, use or disclosure of
Confidential Information by the Executive, directly or indirectly, shall not affect
the protection and relief afforded by this Agreement regarding such information.

     (iii) Inclusions. Confidential Information includes, without
limitation, the following information (including without limitation, compilations or
collections of information) relating or belonging to any Company Party (as well as
their clients, customers and/or vendors) and created, prepared, accessed, used or
reviewed by the Executive during or after the Employment Period: (1) product

14

 

and manufacturing information, such as ingredients, combinations of ingredients
and manufacturing processes; (2) scientific and technical information, such as
research and development, tests and test results, formulae and formulations, studies
and analysis; (3) financial and cost information, such as operating and production
costs, costs of goods sold, costs of supplies and manufacturing materials,
non-public financial statements and reports, profit and loss information, margin
information and financial performance information; (4) customer related information,
such as customer related contracts, engagement and scope of work letters, proposals
and presentations, customer-related contacts, lists, identities and prospects,
practices, plans, histories, requirements and needs, price information and formulae
and information concerning client or customer products, services, businesses or
equipment specifications; (5) vendor and supplier related information, such as the
identities, practices, history or services of any vendors or suppliers and vendor or
supplier contacts; (6) sales, marketing and price information, such as marketing and
sales programs and related data, sales and marketing strategies and plans, sales and
marketing procedures and processes, pricing methods, practices and techniques and
pricing schedules and lists; (7) database, software and other computer related
information, such as computer programs, data, compilations of information and
records, software and computer files, presentation software and computer-stored or
backed-up information including, but not limited to, e-mails, databases, word
processed documents, spreadsheets, notes, schedules, task lists, images and video;
(8) employee-related information, such as lists or directories identifying
employees, representatives and contractors, and information regarding the
competencies (knowledge, skill, experience), compensation and needs of employees,
representatives and contractors and training methods; and (9) business- and
operation-related information, such as operating methods, procedures, techniques,
practices and processes, information about acquisitions, corporate or business
opportunities, information about partners and potential investors, strategies,
projections and related documents, contracts and licenses and business records,
files, equipment, notebooks, documents, memoranda, reports, notes, sample books,
correspondence, lists and other written and graphic business records.

     (e) “Misappropriate”, or any form thereof, means:

     (i) the acquisition of any Confidential Information by a Person who knows or
has reason to know that the Confidential Information was acquired by theft, bribery,
misrepresentation, breach or inducement of a breach of a duty to maintain secrecy or
espionage through electronic or other means (each, an “Improper Means”); or

     (ii) the disclosure or use of any Confidential Information without the express
consent of the Company by a Person who (A) used Improper Means to acquire knowledge
of the Confidential Information (B) at the time of disclosure or use, knew or had
reason to know that his or her knowledge of the Confidential Information was (x)
derived from or through a Person who had utilized Improper Means to acquire it, (y)
acquired under circumstances giving rise to a duty to

15

 

maintain its secrecy or limit its use or (z) derived from or through a Person
who owed a duty to the Company to maintain its secrecy or limit its use or (C)
before a material change of his or her position, knew or had reason to know that it
was Confidential Information and that knowledge of it had been acquired by accident
or mistake.

     (f) “Person” means any individual, corporation, partnership, limited
liability company, joint venture, association, business trust, joint-stock company,
estate, trust, unincorporated organization, government or other agency or political
subdivision thereof or any other legal or commercial entity.

     (g) “Restricted Period” means the longer of (i) twelve (12) months
after the date of termination of employment (the Executive’s last day of work for
the Company) or (ii) the period during which the Executive is receiving payments
from the Company pursuant to Section 4 hereof.

     (h) “Work Product” means all patents and patent applications, all
inventions, innovations, improvements, developments, methods, designs, analyses,
drawings, reports, creative works, discoveries, software, computer programs,
modifications, enhancements, know-how, formulations, concepts and ideas, and all
similar or related information (in each case whether or not patentable), all
copyrights and copyrightable works, all trade secrets, confidential information,
and all other intellectual property and intellectual property rights that are
conceived, reduced to practice, developed or made by the Executive either alone or
with others in the course of employment with the Company (including employment
prior to the date of this Agreement).

     5.5 Remedies. Because the Executive’s services are unique and because the Executive
has access to Confidential Information, the Executive acknowledges and agrees that if the Executive
breaches any of the provisions of Section 5 hereof, the Company may suffer immediate and
irreparable harm for which monetary damages alone will not be a sufficient remedy. The restrictive
covenants stated in Section 5 hereof are without prejudice to the Company’s rights and causes of
action at law.

     5.6 Interpretation; Severability.

     (a) The Executive has carefully considered the possible effects on the
Executive of the covenants not to compete, the confidentiality provisions and the
other obligations contained in this Agreement, and the Company has made every
effort to limit the restrictions placed upon the Executive to those that are
reasonable and necessary to protect the Company’s legitimate business interests.

     (b) The Executive acknowledges and agrees that the restrictive covenants set
forth in this Agreement are reasonable and necessary in order to protect the
Company’s valid business interests. It is the intention of the parties hereto that
the covenants, provisions and agreements contained herein shall be enforceable to
the fullest extent allowed by law. If any covenant, provision or

16

 

agreement contained herein is found by a court having jurisdiction to be
unreasonable in duration, scope or character of restrictions, or otherwise to be
unenforceable, such covenant, provision or agreement shall not be rendered
unenforceable thereby, but rather the duration, scope or character of restrictions
of such covenant, provision or agreement shall be deemed reduced or modified with
retroactive effect to render such covenant, provision or agreement reasonable or
otherwise enforceable (as the case may be), and such covenant, provision or
agreement shall be enforced as modified. If the court having jurisdiction will not
review the covenant, provision or agreement, the parties hereto shall mutually
agree to a revision having an effect as close as permitted by applicable law to the
provision declared unenforceable. The parties hereto agree that if a court having
jurisdiction determines, despite the express intent of the parties hereto, that any
portion of the covenants, provisions or agreements contained herein are not
enforceable, the remaining covenants, provisions and agreements herein shall be
valid and enforceable. Moreover, to the extent that any provision is declared
unenforceable, the Company shall have any and all rights under applicable statutes
or common law to enforce its rights with respect to any and all Confidential
Information or unfair competition by the Executive.

6. Miscellaneous.

     6.1 Public Statements.

     (a) Media Nondisclosure. The Executive agrees that during the
Employment Period or at any time thereafter, except as may be authorized in writing
by the Company, the Executive will not directly or indirectly disclose or release
to the Media any information concerning or relating to any aspect of the
Executive’s employment or termination from employment with the Company and/or any
aspect of any dispute that is the subject of this Agreement. For the purposes of
this Agreement, the term “Media” includes, without limitation, any news
organization, station, publication, show, website, web log (blog), bulletin board,
chat room and/or program (past, present and/or future), whether published through
the means of print, radio, television and/or the Internet or otherwise, and any
member, representative, agent and/or employee of the same.

     (b) Non-Disparagement. The Executive agrees that during the
Employment Period or at any time thereafter, the Executive will not make any
statements, comments or communications in any form, oral, written or electronic to
any Media or any customer, client or supplier of the Company or any of its
Affiliates, which would constitute libel, slander or disparagement of the Company
or any of its Affiliates, including, without limitation, any such statements,
comments or communications that criticize, ridicule or are derogatory to the
Company or any of its Affiliates; provided, however, that the terms
of this Section 6.1(b) shall not apply to communications between the Executive and,
as applicable, the Executive’s attorneys or other persons with whom communications
would be subject to a claim of privilege existing under common law, statute or rule
of procedure. The Executive further agrees that the
Executive will not in any way solicit any such statements, comments or
communications from others.

17

 

     6.2 ARBITRATION. SUBJECT TO THE RIGHTS UNDER SECTION 6.3 HEREOF TO SEEK INJUNCTIVE OR
OTHER EQUITABLE RELIEF, BINDING ARBITRATION SHALL BE THE EXCLUSIVE REMEDY FOR ANY AND ALL DISPUTES,
CLAIMS OR CONTROVERSIES, WHETHER STATUTORY, CONTRACTUAL OR OTHERWISE, BETWEEN THE PARTIES HERETO
ARISING UNDER OR RELATING TO THIS AGREEMENT OR THE EXECUTIVE’S EMPLOYMENT BY OR TERMINATION FROM
THE COMPANY (INCLUDING, BUT NOT LIMITED TO, THE AMOUNT OF DAMAGES, OR THE CALCULATION OF ANY BONUS
OR OTHER AMOUNT OR BENEFIT DUE) (COLLECTIVELY, “DISPUTES”). THE PARTIES EACH WAIVE THE
RIGHT TO A JURY TRIAL AND WAIVE THE RIGHT TO ADJUDICATE THEIR DISPUTES UNDER THIS AGREEMENT OUTSIDE
THE ARBITRATION FORUM PROVIDED FOR IN THIS AGREEMENT, EXCEPT AS OTHERWISE PROVIDED IN THIS
AGREEMENT.

     (a) Procedure Generally. The parties agree to submit the Dispute to a
single arbitrator selected from a panel of JAMS arbitrators. The arbitration will
be governed by the JAMS Comprehensive Arbitration Rules and Procedures in effect at
the time the arbitration is commenced, subject to the terms and modifications of
this Agreement. If for any reason JAMS cannot serve as the arbitration
administrator or cannot fulfill the panel requirements of the Arbitration
Provision, the Company may select an alternative arbitration administrator, such as
AAA, to serve under the terms of this Agreement.

     (b) Arbitrator Selection. To select the arbitrator, the parties shall
make their respective strikes from a panel of former federal court judges and
magistrates, to the extent available from JAMS (the “First Panel”). If the
parties cannot agree upon an arbitrator from the First Panel or if such a panel is
not available from JAMS, then the parties will next make their respective strikes
from a panel of former Illinois state court trial and appellate judges, to the
extent available from JAMS (the “Second Panel”). Any arbitrators proposed
for the First and Second Panels provided for in this Section 6.2(b) must be
available to serve in the Agreed Venue. If the parties cannot agree upon an
arbitrator from the Second Panel or if such a panel is not available from JAMS,
then the parties will next make their respective strikes from the panel of all
other JAMS arbitrators available to serve in the Agreed Venue.

     (c) VENUE. THE PARTIES STIPULATE AND AGREE THAT THE EXCLUSIVE VENUE
OF ANY SUCH ARBITRATION PROCEEDING (AND OF ANY OTHER PROCEEDING, INCLUDING ANY
COURT PROCEEDING, UNDER THIS AGREEMENT) SHALL BE CHICAGO, ILLINOIS (THE “AGREED
VENUE”).

18

 

     (d) Authority and Decision. The arbitrator shall have the authority
to award the same damages and other relief that a court could award. The
arbitrator shall issue a reasoned award explaining the decision and any damages
awarded. The arbitrator’s decision will be final and binding upon the parties
and enforceable by a court of competent jurisdiction. The parties will abide by
and perform any award rendered by the arbitrator. In rendering the award, the
arbitrator shall state the reasons therefor, including (without limitation) any
computations of actual damages or offsets, if applicable.

     (e) Fees and Costs. In the event of arbitration under the terms of
this Agreement, the fees charged by JAMS or other arbitration administrator and the
arbitrator shall be borne by the parties equally. In addition, the parties shall
each bear their own costs, expenses and attorneys’ fees incurred in arbitration.

     (f) Limited Scope. The following are excluded from binding
arbitration under this Agreement: claims for workers’ compensation benefits or
unemployment benefits; replevin; and claims for which a binding arbitration
agreement is invalid as a matter of law.

     6.3 Injunctive Relief. The parties hereto may seek injunctive relief in arbitration;
provided, however, that as an exception to the arbitration agreement set forth in
Section 6.2 hereof, the parties, in addition to all other available remedies, shall each have the
right to initiate an action in any court of competent jurisdiction in order to request injunctive
or other equitable relief regarding the terms of Sections 5 or 6.2 hereof. The exclusive venue of
any such proceeding shall be in the Agreed Venue. The parties agree (a) to submit to the
jurisdiction of any competent court in the Agreed Venue, (b) to waive any and all defenses either
party may have on the grounds of lack of jurisdiction of such court and (c) that neither party
shall be required to post any bond, undertaking or other financial deposit or guarantee in seeking
or obtaining such equitable relief. Evidence adduced in any such proceeding for an injunction may
be used in arbitration as well. The existence of this right shall not preclude or otherwise limit
the applicability or exercise of any other rights and remedies that a party hereto may have at law
or in equity.

     6.4 Settlement of Existing Rights. In exchange for the other terms of this Agreement,
the Executive acknowledges and agrees that: (a) the Executive’s entry into this Agreement is a
condition of employment and/or continued employment with the Company, as applicable; (b) except as
otherwise provided herein, this Agreement will replace any existing employment agreement between
the parties and thereby act as a novation, if applicable; (c) the Executive is being provided with
access to Confidential Information, including, without limitation, proprietary trade secrets of one
or more Company Parties, to which the Executive has not previously had access; (d) all Company
inventions and intellectual property developed by the Executive during any past employment with the
Company and all goodwill developed with the Company’s clients, customers and other business
contacts by the Executive during any past employment with Company, as applicable, is the exclusive
property of the Company; and (e) all Confidential Information and/or specialized training accessed,
created, received or utilized by the Executive during any past employment with Company, as
applicable, will be subject to the restrictions on Confidential Information described in this
Agreement, whether previously so agreed or not.

19

 

     6.5 Indemnification. The Executive shall be entitled from the Effective Date until
the end of the Employment Period in the capacity as an officer or director of the Company or any of
its subsidiaries to the benefit of the indemnification provisions contained in the By-Laws of the
Company or as a matter of law, whichever is greater. In addition, during the term of the
Executive’s employment and, where applicable under the terms of the relevant liability policy
thereafter, the Executive shall be covered under any directors’ and officers’ insurance policy
maintained by the Company.

     6.6 Post-Termination Assistance. During the Restricted Period, the Executive shall
cooperate, at the reasonable request of the Company (i) in the transition of any matter for which
the Executive had authority or responsibility during the Employment Period, or (ii) with respect to
any other matter involving the Company for which the Executive may be of assistance. The Executive
shall be entitled to reimbursement of any out-of-pocket expenses he incurs in providing such
assistance upon submission of documentation supporting such expenses.

     6.7 Entire Agreement; Waiver. This Agreement contains the entire agreement between
the Executive and the Company with respect to the subject matter hereof, and supersedes any and all
prior understandings or agreements, whether written or oral. No modification or addition hereto or
waiver or cancellation of any provision hereof shall be valid except by a writing signed by the
party to be charged therewith. No delay on the part of any party to this Agreement in exercising
any right or privilege provided hereunder or by law shall impair, prejudice or constitute a waiver
of such right or privilege.

     6.8 Governing Law. This Agreement shall be governed by and construed in accordance
with the laws of the State of Illinois without regard to principles of conflict of laws.

     6.9 Successors and Assigns; Binding Agreement. The rights and obligations of the
parties under this Agreement shall be binding upon and inure to the benefit of the parties hereto
and their heirs, personal representatives, successors and permitted assigns. This Agreement is a
personal contract, and, except as specifically set forth herein, the rights and interests of the
Executive herein may not be sold, transferred, assigned, pledged or hypothecated by any party
without the prior written consent of the others. As used herein, the term “successor” as it
relates to the Company, shall include, but not be limited to, any successor by way of merger,
consolidation or sale of all or substantially all of such Person’s assets or equity interests.

     6.10 Representation by Counsel; Independent Judgment. Each of the parties hereto
acknowledges that (a) it or the Executive has read this Agreement in its entirety and understands
all of its terms and conditions, (b) it or the Executive has had the opportunity to consult with
any individuals of its or the Executive’s choice regarding its or the Executive’s agreement to the
provisions contained herein, including legal counsel of its or the Executive’s choice, and any
decision not to was the Executive’s or its alone and (c) it or the Executive is entering into this
Agreement of its or the Executive’s own free will, without coercion from any source, based upon its
or the Executive’s own independent judgment.

     6.11 Interpretation. The parties and their respective legal counsel actively
participated in the negotiation and drafting of this Agreement, and in the event of any ambiguity
or mistake herein, or any dispute among the parties with respect to the provisions hereto, no
provision of this Agreement shall be construed unfavorably against any of the parties on the ground
that the Executive, it, or the Executive’s or its counsel was the drafter thereof.

20

 

     6.12 Survival. The applicable provisions of Sections 4, 5 and 6 hereof shall survive
the termination of this Agreement.

     6.13 Notices. All notices and communications hereunder shall be in writing and shall
be deemed properly given and effective when received, if sent by facsimile or telecopy, or by
postage prepaid by registered or certified mail, return receipt requested, or by other delivery
service which provides evidence of delivery, as follows:

If to the Company, to:

Claire’s Stores, Inc.

2400 W. Central Road

Hoffman Estates, IL 60192

Attention: General Counsel

If to the Executive, to:

Jay Friedman

c/o the last known residence address

maintained in the payroll records of

Claire’s Boutiques. Inc.

With a copy to:

Joel Negrin, P.C.

1865 Palmer Avenue, Suite 108

Larchmont, NY 10538

  or to such other address as one party may provide in writing to the other party from time to time.

     6.14 No Conflicts. The Executive represents and warrants to the Company that his
acceptance of employment and the performance of his duties for the Company will not conflict with
or result in a violation or breach of, or constitute a default under any contract, agreement or
understanding to which he is or was a party or of which he is aware and that there are no
restrictions, covenants, agreements or limitations on his right or ability to enter into and
perform the terms of this Agreement that have not or will not be waived prior to the Effective
Date.

     6.15 Counterparts. This Agreement may be executed in one or more counterparts, each
of which shall be deemed an original and all of which together shall constitute one and the same
instrument. Facsimile transmission of any signed original document or retransmission of any signed
facsimile transmission will be deemed the same as delivery of an original. At the request of any
party, the parties will confirm facsimile transmission by signing a duplicate original document.

     6.16 Captions. Paragraph headings are for convenience only and shall not be
considered a part of this Agreement.

21

 

     6.17 No Third Party Beneficiary Rights. Except as otherwise provided in this
Agreement, no third party entity shall have any right to enforce any provision of this Agreement,
even if indirectly benefited by it.

     6.18 Withholdings. Any payments provided for hereunder shall be paid net of any
applicable withholdings required under Federal, state or local law and any additional withholdings
to which Executive has agreed.

     6.19 No Mitigation. In the event of any termination of the Executive’s employment
hereunder, the Executive shall be under no obligation to seek other employment or otherwise
mitigate the obligations of the Company under this Agreement.

22

 

     IN WITNESS WHEREOF, the parties have duly executed this Agreement, intending it as a document
under seal, to be effective for all purposes as of the Effective Date.

	 	 	 	 	 
	 	CLAIRE’S BOUTIQUES, INC.

 	 
	 	By:  	/s/ Eugene S. Kahn
 	 
	 	 	Name:  	Eugene S. Kahn 	 
	 	 	Title:  	Chief Executive Officer 	 
	 

	 	 	 	 	 
	 	EXECUTIVE

 	 
	 	/s/ Jay Friedman
 	 
	 	Name:  	Jay Friedman 	 
	 	Title:  	President of the North American division of Claire's 	 
	 

23

 

EXHIBIT A

Claire’s Amended and Restated Stock Incentive Plan 

Filed previously as Exhibit 10.3 to the Registration Statement on Form S-4 (File No. 333-148108) by
the Company on December 17, 2007.

 

 

EXHIBIT B

Standard Form of Option Grant Letter (Target Performance Option) 

Filed previously as Exhibit 10.5 to the Registration Statement on Form S-4 (File No. 333-148108) by
the Company on December 17, 2007.

 

 

EXHIBIT C

Standard Form of Co-Investment Letter 

Filed as Exhibit 10.8 with this Form 10-K.

 

 

EXHIBIT D

FORM OF RELEASE

     I,
_____________________, the undersigned, agree to accept the compensation, payments, benefits and
other consideration provided for in Section 4.3(c) of the employment agreement between me and by
and between Claire’s Stores, Inc. (the “Company”)
dated as of ______________ (the “Employment
Agreement”) in full resolution and satisfaction of, and hereby IRREVOCABLY AND UNCONDITIONALLY
RELEASE, REMISE AND FOREVER DISCHARGE the Company and Releasees from any and all agreements,
promises, liabilities, claims, demands, rights and entitlements of any kind whatsoever, in law or
equity, whether known or unknown, asserted or unasserted, fixed or contingent, apparent or
concealed, to the maximum extent permitted by law (“Claims”), which I, my heirs, executors,
administrators, successors or assigns ever had, now have or hereafter can, shall or may have for,
upon, or by reason of any matter, cause or thing whatsoever existing, arising, occurring or
relating to my employment and/or termination thereof with the Company and Releasees, or my status
as a stockholder of the Company and Releasees, at any time on or prior to the date I execute this
Release, including, without limitation, any and all Claims arising out of or relating to
compensation, benefits, any and all contract claims, tort claims, fraud claims, claims for bonuses,
commissions, sales credits, etc., defamation, disparagement, or other personal injury claims,
claims for accrued vacation pay, claims under any federal, state or municipal wage payment,
discrimination or fair employment practices law, statute or regulation, and claims for costs,
expenses and attorneys’ fees with respect thereto. This release and waiver includes, without
limitation, any and all rights and claims under Title VII of the Civil Rights Act of 1964, the
Civil Rights Acts of 1866, 1871 and 1991, the Employee Retirement Income Security Act, the Age
Discrimination in Employment Act (including but not limited to the Older Workers Benefit Protection
Act), the Americans with Disabilities Act, the National Labor Relations Act, the Family and Medical
Leave Act, the Equal Pay Act, the Sarbanes-Oxley Act, [add applicable state laws] and all
amendments to the foregoing, and any other federal, state or local statute, ordinance, regulation
or constitutional provision regarding employment, compensation, employee benefits, termination of
employment or discrimination in employment. Notwithstanding the above, I do not release my right
to any right to indemnification I may have as a director, officer or employee pursuant to
applicable law and/or the Company’s certificate of incorporation nor do I release any rights to any
earned and vested benefits to which I am entitled under the terms of any employee benefit plan
maintained by the Company or any of its subsidiaries.

     I represent and affirm (i) that I have not filed any Claim against the Company or Releasees
and (ii) that to the best of my knowledge and belief, there are no outstanding Claims.

     For the purpose of implementing a full and complete release and discharge of Claims, I
expressly acknowledge that this Release is intended to include in its effect, without limitation,
all the Claims described in the preceding paragraphs, whether known or unknown, apparent or
concealed, and that this Release contemplates the extinction of all such Claims, including Claims
for attorney’s fees. I expressly waive any right to assert after the execution of this Release
that any such Claim has, through ignorance or oversight, been omitted from the scope of the
Release.

 

 

     For purposes of this Release, the term “the Company and Releasees” includes the Company and
its past, present and future direct and indirect parents, subsidiaries, affiliates, divisions,
predecessors, successors, and assigns, and their past, present and future officers, directors,
shareholders, representatives, agents, attorneys and employees, in their official and individual
capacities, and all other related individuals and entities, jointly and individually, and this
Release shall inure to the benefit of and shall be binding and enforceable by all such entities and
individuals.

     I understand that I have a period of up to 21 days from my receipt of this Release to review
and consider this Release. I further understand that once I have signed this Release, I may
revoke it at any time during the 7 days following its execution by delivering a written notice of
revocation to the Company, attention General Counsel. I further understand that if I fail to
execute and return this Release to the Company, attention General Counsel, prior to the expiration
of such 21 day period, or revoke my execution of the Release during such 7 day period, I will not
be entitled to the compensation, payments, benefits and other consideration provided for in Section
4.3(c) of the Employment Agreement.

I ACKNOWLEDGE THAT I HAVE READ THIS

RELEASE AND I UNDERSTAND

AND ACCEPT ITS TERMS

	 	 	 
	 
	 

	 	 
	 

	 	Date
	 
	 	 
	Sworn to before me this

___ day of _________, 20___
	 	 
	 
	 	 
	 
	 	 
	 
	Notary Publicexv4w1

Exhibit 4.1

Execution Version

 

NRP (Operating) LLC

 

Fourth Supplement to Note Purchase Agreements

Dated as of April 20, 2011

Re:           $75,000,000 4.73% Senior Notes, Series H,

Due December 1, 2023

$125,000,000 5.03% Senior Notes, Series I,

Due December 1, 2026

$50,000,000 5.03% Senior Notes, Series J,

Due December 1, 2026

$50,000,000 5.18% Senior Notes, Series K,

Due December 1, 2026

 

 

 

NRP (Operating) LLC

601 Jefferson, Suite 3600

Houston, Texas 77002

Dated as of

April 20, 2011

To the Purchaser(s) named in

Schedule A hereto

Ladies and Gentlemen:

     This Fourth Supplement to Note Purchase Agreements (this “Supplement” or “Fourth Supplement”)
is among NRP (Operating) LLC, a Delaware limited liability company (the “Company”), and the
institutional investors named on Schedule A attached hereto (the “Purchasers”).

     Reference is hereby made to the separate and several Note Purchase Agreements, each dated as
of June 19, 2003, as amended and supplemented from time to time (the “Note Purchase
Agreements”), between the Company and the respective purchasers listed on Schedule A thereto. All
capitalized terms not otherwise defined herein shall have the same meaning as specified in the Note
Purchase Agreements. Reference is further made to Section 4.13 of the Note Purchase Agreements
which requires that, prior to the delivery of any Additional Notes, the Company and each Additional
Purchaser shall execute and deliver a Supplement.

     The Company hereby agrees with the Purchasers as follows:

     1. Authorization of Notes. The Company has authorized the issue and sale of (i) $75,000,000
aggregate principal amount of its 4.73% Senior Notes, Series H, due December 1, 2023 (the “Series H
Notes”), (ii) $125,000,000 aggregate principal amount of its 5.03% Senior Notes, Series I, due
December 1, 2026 (the “Series I Notes”), (iii) $50,000,000 aggregate principal amount of its 5.03%
Senior Notes, Series J, due December 1, 2026 (the “Series J Notes”), and (iv) $50,000,000 aggregate
principal amount of its 5.18% Senior Notes, Series K, due December 1, 2026 (the “Series K Notes”,
and together with the Series H Notes, the Series I Notes, and the Series J Notes, the “2011
Notes”). The 2011 Notes, together with the Notes previously issued pursuant to the Note Purchase
Agreements and each series of Additional Notes which may from time to time hereafter be issued
pursuant to the provisions of Section 2.2 of the Note Purchase Agreements, are collectively
referred to as the “Notes” (such term shall also include any such notes issued in substitution
therefor pursuant to Section 13 of the Note Purchase Agreements). The 2011 Notes shall be
substantially in the form set out in Exhibits 1-A, 1-B, 1-C and 1-D hereto, respectively, with such
changes therefrom, if any, as may be approved by the Purchaser(s) and the Company.

     2. Sale and Purchase of Notes. Subject to the terms and conditions hereof and as set forth in
the Note Purchase Agreements and on the basis of the representations and warranties hereinafter set
forth, the Company agrees to issue and sell to each Purchaser, and each Purchaser

 

 

			
	 	 	 
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agrees to purchase from the Company, 2011 Notes in the principal amount and of the respective series and set
forth opposite such Purchaser’s name on Schedule A hereto at a price of 100% of the principal
amount thereof on the closing date hereafter mentioned.

     3. Closing. The sale and purchase of the 2011 Notes to be purchased by each Purchaser shall
occur at the offices of Chapman and Cutler LLP, 111 West Monroe Street, Chicago, Illinois 60603, at
10:00 a.m. Chicago time, at a closing (i) with respect to the Series H Notes and the
Series I Notes, on April 20, 2011 (the “First Closing”), (ii) with respect to the Series J Notes,
on June 15, 2011 (the “Second Closing”), and (iii) with respect to the Series K Notes, on October
3, 2011 (the “Third Closing” and, together with the First Closing and the Second Closing, a
“Closing” and collectively, the “Closings”) or, in each of the foregoing cases, on such other
Business Day thereafter as may be agreed upon by the Company and the Purchasers of the Notes at
such Closing. At each Closing, the Company will deliver to each Purchaser the 2011 Notes of each
series to be purchased by such Purchaser at such Closing in the form of a single 2011 Note (or such
greater number of 2011 Notes of the appropriate series in denominations of at least $250,000 as
such Purchaser may request) dated the date of the related Closing and registered in such
Purchaser’s name (or in the name of such Purchaser’s nominee), against delivery by such Purchaser
to the Company or its order of immediately available funds in the amount of the purchase price
therefor by wire transfer of immediately available funds for the account of the Company to account
number 01561106604 at The
Huntington National Bank, 919 Fifth Avenue, Huntington, West Virginia 25701, ABA Number 044000024.
If at any Closing the Company shall fail to tender such 2011 Notes to any Purchaser as provided
above in this Section 3, or any of the conditions specified in Section 4 with respect to such
Closing shall not have been fulfilled to any Purchaser’s satisfaction, such Purchaser shall, at
such Purchaser’s election, be relieved of all further obligations under this Supplement, without
thereby waiving any rights such Purchaser may have by reason of such failure or such
nonfulfillment.

     4. Conditions to Closing. (a) The obligation of each Purchaser to purchase and pay for the
2011 Notes to be sold to such Purchaser at each Closing is subject to the fulfillment to such
Purchaser’s satisfaction, prior to such Closing, of the conditions set forth in Section 4 of the
Note Purchase Agreements (but adjusted to reflect the 2011 Notes to be purchased at such Closing),
except that the representations and warranties set forth in Section 5 of the Note Purchase
Agreements and Section 5 of the Subsidiary Guarantee shall be modified as set forth in Exhibit A
hereto.

     (b) In the case of the Second Closing, the transactions contemplated herein with respect to
the First Closing shall have been consummated in accordance with the terms and provisions hereof
and neither the Note Purchase Agreement nor this Supplement shall have been amended, waived or
modified in any way that would be adverse to the Purchasers of the Series J Notes.

     (c) In the case of the Third Closing, the transactions contemplated herein with respect to
both the First Closing and the Second Closing shall have been consummated in accordance with the
terms and provisions hereof and neither the Note Purchase Agreement nor this Supplement shall have
been amended, waived or modified in any way that would be adverse to the Purchasers of the Series K
Notes.

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     5. Required Prepayments. The Company will prepay the 2011 Notes on the dates and in the
principal amounts as set forth on Schedule 5 attached hereto at par and without payment of the
Make-Whole Amount or any premium, provided that upon any partial prepayment or purchase of the 2011
Notes pursuant to Sections 6, 7 or 8 of this Supplement, the principal amount of each required
prepayment of the 2011 Notes becoming due under this Section 5 of this Supplement on and after the
date of such prepayment or purchase shall be reduced in the same proportion as the aggregate unpaid
principal amount of the 2011 Notes is reduced as a result of such prepayment or purchase.

     6. Optional Prepayments with Make-Whole Amount. The Company may, at its option, upon notice
as provided below, prepay at any time all, or from time to time any part of, the 2011 Notes, in an
aggregate principal amount not less than $5,000,000, in the case of a partial prepayment, at 100%
of the principal amount so prepaid, plus the applicable Make-Whole Amount with respect to the 2011
Notes determined for the prepayment date with respect to such principal amount. The Company will
give each holder of 2011 Notes written notice of each optional prepayment under this Section 6 of
this Supplement not less than 30 days and not more than 60 days prior to the date fixed for such
prepayment. Each such notice shall specify such date, the aggregate principal amount of the 2011
Notes to be prepaid on such date, the principal amount of each 2011 Note held by such holder to be
prepaid (determined in accordance with Section 9 of this Supplement), and the interest to be paid
on the prepayment date with respect to such principal amount being prepaid, and shall be
accompanied by a certificate of a Senior Financial Officer as to the estimated Make-Whole Amount
with respect to the 2011 Notes due in connection with such prepayment (calculated as if the date of
such notice were the date of the prepayment), setting forth the details of such computation. Two
Business Days prior to such prepayment, the Company shall deliver to each holder of 2011 Notes a
certificate of a Senior Financial Officer specifying the calculation of such Make-Whole Amount as
of the specified prepayment date.

     7. Prepayment in Connection with Asset Dispositions. In the event of any Debt Prepayment
Application pursuant to Section 10.7 of the Note Purchase Agreements, the Company shall offer to
prepay each outstanding 2011 Note in a principal amount which equals the 2011 Ratable Portion (as
defined below) for such 2011 Note (which offer shall be in writing and shall offer to make such
prepayment on a Business Day which is not less than 30 and not more than 60 days after the date of
the notice of offer (the “Disposition Prepayment Date”)), together with accrued interest thereon to
the date of such prepayment. Each holder of a 2011 Note shall notify the Company of such holder’s
acceptance or rejection of such offer within 10 Business Days of receipt thereof by giving notice
of such acceptance or rejection to the Company, provided, however, that any holder who fails to so
notify the Company within 10 Business Days of receipt of the notice of offer of prepayment shall be
deemed to have rejected such offer. The Company shall prepay on the Disposition Prepayment Date
the 2011 Ratable Portion of each 2011 Note held by a holder who has accepted such offer in
accordance with this Section 7, together with accrued interest thereon to the date of such
prepayment (but without the Make-Whole Amount). The term “2011 Ratable Portion” for any 2011 Note
means, with respect to a Debt Prepayment Application, an amount equal to the product of (x) the Net
Proceeds Amount being applied to the payment of Senior Debt multiplied by (y) a fraction the
numerator of which is the outstanding
principal amount of such 2011 Note and the denominator

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of which is the sum of (i) the aggregate
principal amount of the 2011 Notes, plus (without duplication) (ii) the aggregate principal amount
of any other Senior Debt that is being paid as part of such Debt Prepayment Application.

     8. Prepayment in Connection with Change in Control.

     (a) Notice of Change in Control or Control Event. The Company will, within five (5) Business
Days after any Responsible Officer has knowledge of the occurrence of any Change in Control or
Control Event, give written notice (the “Change of Control Notice”) of such Change in Control or
Control Event to each holder of 2011 Notes unless notice in respect of such Change in Control (or
the Change of Control contemplated by such Control Event) shall have been given pursuant to
subparagraph (c) of this Section 8 of this Supplement. Such Change of Control Notice shall contain
and constitute an offer to prepay the 2011 Notes as described in Section 8(c) of this Supplement
and shall be accompanied by the certificate described in Section 8(g) of this Supplement.

     (b) Condition to Company Action. The Company will not take any action that consummates or
finalizes a Change in Control unless (i) at least 30 days prior to such action it shall have given
to each holder of 2011 Notes written notice containing and constituting an offer to prepay the 2011
Notes as described in subparagraph (c) of this Section 8 of this Supplement, accompanied by the
certificate described in subparagraph (g) of this Section 8 of this Supplement, and (ii)
contemporaneously with such action, it prepays all 2011 Notes required to be prepaid in accordance
with this Section 8 of this Supplement.

     (c) Offer to Prepay Notes. The offer to prepay 2011 Notes contemplated by paragraph (a) and
(b) of this Section 8 of this Supplement shall be an offer to prepay, in accordance with and
subject to this Section 8 of this Supplement, all, but not less than all, the 2011 Notes held by
each holder (in this case only, “holder” in respect of any 2011 Note registered in the name of a
nominee for a disclosed beneficial owner shall mean such beneficial owner) on a date specified in
such Change of Control Notice (the “Proposed Prepayment Date”). If such Proposed Prepayment Date
is in connection with an offer contemplated by subparagraph (a) of this Section 8 of this
Supplement, such date shall be not less than 30 days and not more than 120 days after the date of
such offer (if the Proposed Prepayment Date shall not be specified in such offer, the Proposed
Prepayment Date shall be the first Business Day after the 45th day after the date of such offer).

     (d) Acceptance. A holder of 2011 Notes may accept the offer to prepay made pursuant to this
Section 8 of this Supplement by causing a notice of such acceptance to be delivered to the Company
not later than 15 days after receipt by such holder of the most recent offer of prepayment. A
failure by a holder of 2011 Notes to respond to an offer to prepay made pursuant to this Section 8
of this Supplement shall be deemed to constitute a rejection of such offer by such holder.

     (e) Prepayment. Prepayment of the 2011 Notes to be prepaid pursuant to this Section 8 of this
Supplement shall be at 100% of the principal amount of the 2011 Notes together with

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accrued and
unpaid interest thereon. The prepayment shall be made on the Proposed Prepayment Date except as
provided in subparagraph (f) of this Section 8 of this Supplement.

     (f) Deferral Pending Change in Control. The obligation of the Company to prepay Notes
pursuant to the offers required by subparagraph (c) and accepted in accordance with subparagraph
(d) of this Section 8 of this Supplement is subject to the occurrence of the Change in Control in
respect of which such offers and acceptances shall have been made. In the event that such Change
in Control has not occurred on the Proposed Prepayment Date in respect thereof, the prepayment
shall be deferred until, and shall be made on, the date on which such Change in Control occurs.
The Company shall keep each holder of 2011 Notes reasonably and timely informed of (i) any such
deferral of the date of prepayment, (ii) the date on which such Change in Control and the
prepayment are expected to occur, and (iii) any determination by the Company that efforts to effect
such Change in Control have ceased or been abandoned (in which case the offers and acceptances made
pursuant to this Section 8 of this Supplement in respect of such Change in Control shall be deemed
rescinded).

     (g) Officer’s Certificate. Each offer to prepay the 2011 Notes pursuant to this Section 8 of
this Supplement shall be accompanied by a certificate, executed by the Senior Financial Officer of
the Company and dated the date of such offer, specifying: (i) the Proposed Prepayment Date; (ii)
that such offer is made pursuant to this Section 8 of this Supplement; (iii) the principal amount
of each 2011 Note offered to be prepaid (which shall be 100% of each such 2011 Note); (iv) the
interest that would be due on each 2011 Note offered to be prepaid, accrued to the Proposed
Prepayment Date; (v) that the conditions of this Section 8 of this Supplement have been fulfilled;
and (vi) in reasonable detail, the nature and date or proposed date of the Change in Control.

     (h) Certain Definitions. “Change in Control” shall be deemed to have occurred if

     (i) the Parent ceases to own directly all of the membership interests of the Company,

     (ii) the General Partner ceases to own directly all of the general partner interests of
the Parent, or

     (iii) Corbin J. Robertson, Jr., the WPP Group, NRP Investment L.P. and/or one
or more of their direct or indirect wholly-owned Subsidiaries cease to own, in the
aggregate, more than 50% of the partnership interests of the General Partner.

     “Control Event” means (i) the execution by the Company or any of its Subsidiaries or
Affiliates of any agreement or letter of intent with respect to any proposed transaction or event
or series of transactions or events which, individually or in the aggregate, may reasonably be
expected to result in a Change in Control, or

     (ii) the execution of any written agreement which, when fully performed by the parties
thereto, would result in a Change in Control.

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     (ii) All calculations contemplated in this Section 8 of this Supplement involving the capital
stock, limited liability company or other equity interest of any Person shall be made with the
assumption that all convertible securities of such Person then outstanding and all convertible
securities issuable upon the exercise of any warrants, options and other rights outstanding at such
time were converted at such time and that all options, warrants and similar rights to acquire
shares of capital stock or limited liability company or other equity interest of such Person were
exercised at such time.

     9. Allocation of Partial Prepayments. (a) In the case of each partial prepayment of a series
of 2011 Notes pursuant to Section 5 of this Supplement, the principal amount of such series of 2011
Notes to be prepaid shall be allocated among all of such series of 2011 Notes at the time
outstanding in proportion, as nearly as practicable, to the respective unpaid principal amounts
thereof.

     (b) In the case of each partial prepayment of the 2011 Notes pursuant to Section 6 of this
Supplement, the principal amount of the 2011 Notes to be prepaid shall be allocated among all of
the 2011 Notes at the time outstanding in proportion, as nearly as practicable, to the respective
unpaid principal amounts thereof not theretofore called for prepayment.

     10. Maturity; Surrender, Etc. In the case of each prepayment of 2011 Notes pursuant to
Sections 5, 6, 7 or 8 of this Supplement, the principal amount of each 2011 Note to be prepaid
shall mature and become due and payable on the date fixed for such prepayment, together with
interest on such principal amount accrued to such date and the applicable Make-Whole Amount, if
any. From and after such date, unless the Company shall fail to pay such principal amount when so
due and payable, together with the interest and Make-Whole Amount, if any, as aforesaid, interest
on such principal amount shall cease to accrue. Any 2011 Note paid or prepaid in full shall be
surrendered to the Company and cancelled and shall not be reissued, and no 2011 Note shall be
issued in lieu of any prepaid principal amount of any 2011 Note.

     11. Purchase of Notes. The Company will not and will not permit any Affiliate to purchase,
redeem, prepay or otherwise acquire, directly or indirectly, any of the outstanding 2011 Notes
except upon the payment or prepayment of the 2011 Notes in accordance with the terms of the Note
Purchase Agreements, this Supplement and the 2011 Notes. The Company will promptly cancel all 2011
Notes acquired by it or any Affiliate pursuant to any payment, prepayment or purchase of 2011 Notes
pursuant to any provision of the Note Purchase Agreements or this Supplement and no 2011 Notes may
be issued in substitution or exchange for any such 2011 Notes.

     12. Make-Whole Amount. The term “Make-Whole Amount” means, with respect to any 2011 Note, an
amount equal to the excess, if any, of the Discounted Value of the Remaining Scheduled Payments
with respect to the Called Principal of such 2011 Note over the amount of such Called Principal,
provided that the Make-Whole Amount may in no event be less than zero. For the purposes of
determining the Make-Whole Amount, the following terms have the following meanings:

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     “Called Principal” means, with respect to any 2011 Note, the principal of such 2011
Note that is to be prepaid pursuant to Section 6 of this Supplement or has become or is
declared to be immediately due and payable pursuant to Section 12.1 of the Note Purchase
Agreements, as the context requires.

     “Discounted Value” means, with respect to the Called Principal of any 2011 Note, the
amount obtained by discounting all Remaining Scheduled Payments with respect to such Called
Principal from their respective scheduled due dates to the Settlement Date with respect to
such Called Principal, in accordance with accepted financial practice and at a discount
factor (applied on the same periodic basis as that on which interest on the 2011 Notes is
payable) equal to the Reinvestment Yield with respect to such Called Principal.

     “Reinvestment Yield” means, with respect to the Called Principal of any 2011 Note, .50%
over the yield to maturity implied by (i) the yields reported as of 10:00 A.M. (New York
City time) on the second Business Day preceding the Settlement Date with respect to such
Called Principal, on the display designated as “Page PX1” (or such other display as may
replace Page PX1) on Bloomberg Financial Markets for the most recently issued actively
traded on the run U.S. Treasury securities having a maturity equal to the Remaining Average
Life of such Called Principal as of such Settlement Date, or (ii) if such yields are not
reported as of such time or the yields reported as of such time are not ascertainable
(including by way of interpolation), the Treasury Constant Maturity Series Yields reported,
for the latest day for which such yields have been so reported as of the second Business Day
preceding the Settlement Date with respect to such Called Principal, in Federal Reserve
Statistical Release H.15 (or any comparable successor publication) for U.S. Treasury
securities having a constant maturity equal to the Remaining Average Life of such Called
Principal as of such Settlement Date. In the case of each determination under clause (i) or
clause (ii), as the case may be, of the preceding paragraph, such implied yield will be
determined, if necessary, by (a) converting U.S. Treasury bill quotations to bond equivalent
yields in accordance with accepted financial practice and (b) interpolating linearly between
(1) the applicable U.S. Treasury security with the maturity closest to and greater than such
Remaining Average Life and (2) the applicable U.S. Treasury security with the maturity
closest to and less than such Remaining Average Life. The Reinvestment Yield shall be
rounded to the number of decimal places as appears in the interest rate of the applicable
2011 Note.

     “Remaining Average Life” means, with respect to any Called Principal, the number of
years (calculated to the nearest one-twelfth year) obtained by dividing (i) such Called
Principal into (ii) the sum of the products obtained by multiplying (a) the principal
component of each Remaining Scheduled Payment with respect to such Called Principal by (b)
the number of years (calculated to the nearest one-twelfth year) that will elapse between
the Settlement Date with respect to such Called Principal and the scheduled due date of such
Remaining Scheduled Payment.

     “Remaining Scheduled Payments” means, with respect to the Called Principal of any 2011
Note, all payments of such Called Principal of such series and interest thereon

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that would
be due after the Settlement Date with respect to such Called Principal if no payment of such
Called Principal were made prior to its scheduled due date, provided that if such Settlement
Date is not a date on which interest payments are due to be made under the terms of the 2011
Notes of such series, then the amount of the next succeeding scheduled interest payment will
be reduced by the amount of interest accrued to such Settlement Date and required to be paid
on such Settlement Date pursuant to Section 6 of this Supplement or Section 12.1 of the Note
Purchase Agreements.

     “Settlement Date” means, with respect to the Called Principal of any 2011 Note, the
date on which such Called Principal is to be prepaid pursuant to Section 6 of this
Supplement or has become or is declared to be immediately due and payable pursuant to
Section 12.1 of the Note Purchase Agreements, as the context requires.

     13. Additional Covenants. In addition to and without limiting the covenants in Section 9 and
10 of the Note Purchase Agreements, the Company covenants that so long as any of the 2011 Notes are
outstanding:

     (a) The Company will not and will not permit any Affiliated Entity to become an OFAC Listed
Person or (b) have any investments in, or engage in any dealings or transactions with, any Blocked
Person. “Affiliated Entity” means the Subsidiaries of the Company and any of their or the
Company’s respective Controlled Affiliates. As used in this definition, “Control” means the
possession, directly or indirectly, of the power to direct or cause the direction of the management
and policies of a Person, whether through the ownership of voting securities, by contract or
otherwise. “Blocked Person” is defined in Section 5.16(a) of
Exhibit A to this Supplement. “OFAC” is defined in Section 5.16(a) of Exhibit A to this
Supplement. “OFAC Listed Person” is defined in Section 5.16(a) of Exhibit A to this Supplement.

     (b) Notwithstanding Sections 10.3 or 10.4 of the Note Purchase Agreements or any other
provision of the Note Purchase Agreements, the Company will not, and will not permit any of its
Subsidiaries to, directly or indirectly create, incur, assume or permit to exist (upon the
happening of a contingency or otherwise) any Lien on any property of the Company or any Subsidiary
which may otherwise be permitted by Section 10.3 of the Note Purchase Agreements, to secure any
amounts owed or outstanding under the Bank Agreement unless the Notes and the Note Purchase
Agreements are also concurrently equally and ratably secured pursuant to documentation satisfactory
to the Required Holders.

     (c) The Company will not permit as of the end of each fiscal quarter, the ratio of
Consolidated Debt (determined as of such fiscal quarter end date) to Consolidated EBITDDA
(determined as of such fiscal quarter end date for the twelve months then ended), to exceed
4.00:1.00.

In accordance with the proviso to Section 2.2(ii) of the Note Purchase Agreements, the covenants
set forth in this Section 13 shall inure to the benefit of all holders of Notes so long as the 2011
Notes issued pursuant to this Fourth Supplement remain outstanding. A default by the Company in
the performance of or compliance with any of Sections 13(b) or (c) above shall be deemed to

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 be an
Event of Default under Section 11(c) of the Note Purchase Agreements, for all purposes under the
Note Purchase Agreements and under this Supplement.

     14. Representations and Warranties of the Purchasers. (a) Each Purchaser represents and
warrants that the representations and warranties set forth in Section 6.1 of the Note Purchase
Agreements are true and correct on the date hereof with respect to the purchase of the 2011 Notes
by such Purchaser.

     (b) Each Purchaser severally represents that at least one of the following statements is an
accurate representation as to each source of funds (a “Source”) to be used by such Purchaser to pay
the purchase price of the 2011 Notes to be purchased by such Purchaser hereunder:

     (i) the Source is an “insurance company general account” (as the term is defined in the
United States Department of Labor’s Prohibited Transaction Exemption (“PTE”) 95-60) in
respect of which the reserves and liabilities (as defined by the annual statement for life
insurance companies approved by the National Association of Insurance Commissioners (the
“NAIC Annual Statement”)) for the general account contract(s) held by or on behalf of any
employee benefit plan together with the amount of the reserves and liabilities for the
general account contract(s) held by or on behalf of any other employee benefit plans
maintained by the same employer (or affiliate thereof as defined in PTE 95-60) or by the
same employee organization in the general account do not exceed 10% of the total reserves
and liabilities of the general account (exclusive of separate account liabilities) plus
surplus as set forth in the NAIC Annual Statement filed with such Purchaser’s state of
domicile; or

     (ii) the Source is a separate account that is maintained solely in connection with such
Purchaser’s fixed contractual obligations under which the amounts payable, or credited, to
any employee benefit plan (or its related trust) that has any interest in such separate
account (or to any participant or beneficiary of such plan (including any annuitant)) are
not affected in any manner by the investment performance of the separate account; or

     (iii) the Source is either (A) an insurance company pooled separate account, within the
meaning of PTE 90-1 or (B) a bank collective investment fund, within the meaning of the PTE
91-38 and, except as disclosed by such Purchaser to the Company in writing pursuant to this
clause (iii), no employee benefit plan or group of plans maintained by the same employer or
employee organization beneficially owns more than 10% of all assets allocated to such pooled
separate account or collective investment fund; or

     (iv) the Source constitutes assets of an “investment fund” (within the meaning of Part
V of PTE 84-14 (the “QPAM Exemption”)) managed by a “qualified professional asset manager”
or “QPAM” (within the meaning of Part V of the QPAM Exemption), no employee benefit plan’s
assets that are included in such investment fund, when combined with the assets of all other
employee benefit plans established or maintained by the same employer or by an affiliate
(within the meaning of Section V(c)(1) of the QPAM Exemption) of such employer or by the
same employee organization and managed by such QPAM, exceed 20% of the total client assets
managed by such QPAM, the conditions of Part I(c) and (g) of the QPAM

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Exemption are
satisfied, as of the last day of its most recent calendar quarter, the QPAM does not own a
10% or more interest in the Company and no person controlling or controlled by the QPAM
(applying the definition of “control” in Section V(e) of the QPAM Exemption) owns a 20% or
more interest in the Company (or less than 20% but greater than 10%, if such person
exercises control over the management or policies of the Company by reason of its ownership
interest) and (A) the identity of such QPAM and (B) the names of all employee benefit plans
whose assets are included in such investment fund have been disclosed to the Company in
writing pursuant to this clause (iv); or

     (v) the Source constitutes assets of a “plan(s)” (within the meaning of Section IV of
PTE 96-23 (the “INHAM Exemption”)) managed by an “in-house asset manager” or “INHAM” (within
the meaning of Part IV of the INHAM Exemption), the conditions of Part I(a), (g) and (h) of
the INHAM Exemption are satisfied, neither the INHAM nor a person controlling or controlled
by the INHAM (applying the definition of “control” in Section IV(d) of the INHAM Exemption)
owns a 5% or more interest in the Company and (A) the identity of such INHAM and (B) the
name(s) of the employee benefit plan(s) whose assets constitute the Source have been
disclosed to the Company in writing pursuant to this clause (v); or

     (vi) the Source is a governmental plan; or

     (vii) the Source is one or more employee benefit plans, or a separate account or trust
fund comprised of one or more employee benefit plans, each of which has been identified to
the Company in writing pursuant to this clause (vii); or

     (viii) the Source does not include assets of any employee benefit plan, other than a
plan exempt from the coverage of ERISA.

     15. Compliance with Note Purchase Agreements. The Company and each Purchaser agree to be
bound by and comply with the terms and provisions of the Note Purchase Agreements as fully and
completely as if such Purchaser were an original signatory to the Note Purchase Agreements.

     16. Governing Law. This Supplement shall be governed by and construed in accordance with the
laws of the State of New York, excluding choice-of-law principles of the law of such State that
would require the application of the laws of a jurisdiction other than such State.

     17. Additional Construction. For purposes of determining compliance with the financial
covenants contained in the Note Purchase Agreements, any election by the Company to measure any
item of Debt using fair value (as permitted by ASC 825-10-25 or any similar accounting standard)
shall be disregarded and such determination shall be made as if such election had not been make.

-10-

 

			
	 	 	 
	NRP (Operating) LLC
	 	Fourth Supplement

[Signature Page Follows]

-11-

 

			
	 	 	 
	NRP (Operating) LLC
	 	Fourth Supplement

     The execution hereof shall constitute a contract between the Company and the Purchaser(s) for
the uses and purposes hereinabove set forth, and this agreement may be executed in any number of
counterparts, each executed counterpart constituting an original but all together only one
agreement.

	 	 	 	 	 
	 	NRP (Operating) LLC

 	 
	 	By  	/s/  Dwight L. Dunlap
 	 
	 	 	Name:  	Dwight L. Dunlap 	 
	 	 	Title:  	Chief Financial Officer and Treasurer 	 

-12-

 

	 	 	 	 	 

			
	 	 	 
	NRP (Operating) LLC
	 	Fourth Supplement

     Each of the undersigned Subsidiary Guarantors hereby acknowledges, approves and agrees to the
foregoing Fourth Supplement as of the date aforesaid and confirms and ratifies its obligations
under the Subsidiary Guarantee dated June 19, 2003, as amended, modified or supplemented (the
“Subsidiary Guarantee”) and acknowledges and agrees that its obligations under the Subsidiary
Guarantee extend to and include, without limitation, all obligations of the Company to the
Purchasers under the Note Purchase Agreements and the 2011 Notes. The terms and provisions of the
Subsidiary Guarantee are hereby incorporated herein in their entirety as if such terms and
provisions were actually set forth herein and each Subsidiary Guarantor hereby makes the
representations and warranties, agreements and covenants in, and agrees to be bound by all the
terms of, such terms and provisions.

WPP LLC

ACIN LLC

WBRD LLC

Hod LLC

Shepard Boone Coal Company LLC

Gatling Mineral, LLC

Independence Land Company, LLC

Williamson Transport, LLC

Little River Transport, LLC

Deepwater Transportation, LLC

RiverVista Mining, LLC

BRP LLC

Coval Leasing Company LLC

	 	 	 	 	 
	 	 	 
	 	By:  	NRP (Operating) LLC, as the Sole
 	 
	 	 	Member of each of the above named  	 
	 	 	Subsidiary Guarantors 	 

	 	 	 	 	 
	 	By  	                                                      /s/  Dwight L. Dunlap
 	 
	 	 	Name:  	Dwight L. Dunlap 	 
	 	 	Title:  	Chief Financial Officer and Treasurer 	 

-13-

 

	 	 	 	 	 

			
	 	 	 
	NRP (Operating) LLC
	 	Fourth Supplement

Accepted as of the date first written above.

	 	 	 	 	 
	 	Western National Life Insurance Company

American General Life Insurance Company

The Variable Annuity Life Insurance Company

 	 
	 	By:  	AIG Asset Management (U.S.) LLC,
 	 
	 	 	investment adviser 	 
	 	 	 	 
	 
	 	 	 
	 	By:  	                                              /s/ David C. Patch
 	 
	 	 	     Name:  	David C. Patch 	 
	 	 	     Title:  	Vice President 	 

-14-

 

			
	 	 	 
	NRP (Operating) LLC
	 	Fourth Supplement

Accepted as of the date first written above.

	 	 	 	 	 
	 	Teachers Insurance and Annuity Association of
America

 	 
	 	By  	/s/ Brian K. Roelke
 	 
	 	 	     Name:  	Brian K. Roelke 	 
	 	 	     Title:  	Managing Director 	 

-15-

 

			
	 	 	 
	NRP (Operating) LLC
	 	Fourth Supplement

Accepted as of the date first written above.

	 	 	 	 	 	 	 

	 	 	New York Life Insurance Company
	 
	 	 	 	 	 	 
	 	 	By /s/ Kathleen A. Haberkern
	 

	 	 	 	Name:
	 	Kathleen A. Haberkern
	 

	 	 	 	Title:
	 	Corporate Vice President

	 	 	 	 	 	 	 	 	 	 	 	 	 

	 	 	New York Life Insurance and Annuity
Corporation
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	By	 	New York Life Investment Management LLC,
 its Investment Manager	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	By	 	/s/ Kathleen A. Haberkern	 	 
	 

	 	 	 	 	 	 	 	Name:
	 	Kathleen A. Haberkern	 	 
	 

	 	 	 	 	 	 	 	Title:
	 	Director	 	 

	 	 	 	 	 	 	 	 	 	 	 	 	 

	 	 	New York Life Insurance and Annuity
 Corporation
Institutionally Owned Life 
Insurance Separate Account
(BOLI 30C)
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	By	 	New York Life Investment Management LLC, 
its Investment Manager	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	By	 	/s/ Kathleen A. Haberkern	 	 
	 

	 	 	 	 	 	 	 	Name:
	 	Kathleen A. Haberkern	 	 
	 

	 	 	 	 	 	 	 	Title:
	 	Director	 	 

	 	 	 	 	 	 	 	 	 	 	 	 	 

	 	 	New York Life Insurance and Annuity
 Corporation
Institutionally Owned Life 
Insurance Separate Account
(BOLI 3)
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	By	 	New York Life Investment Management LLC, 
its Investment Manager	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	By	 	/s/ Kathleen A. Haberkern	 	 
	 

	 	 	 	 	 	 	 	Name:
	 	Kathleen A. Haberkern	 	 
	 

	 	 	 	 	 	 	 	Title:
	 	Director	 	 

-16-

 

			
	 	 	 
	NRP (Operating) LLC
	 	Fourth Supplement

	 	 	 	 	 	 	 	 	 	 	 	 	 

	 	 	New York Life Insurance and Annuity
 Corporation
Institutionally Owned Life 
Insurance Separate Account
(BOLI 3-2)
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	By	 	New York Life Investment Management LLC,
 its Investment Manager	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	By	 	/s/ Kathleen A. Haberkern	 	 
	 

	 	 	 	 	 	 	 	Name:
	 	Kathleen A. Haberkern	 	 
	 

	 	 	 	 	 	 	 	Title:
	 	Director	 	 

	 	 	 	 	 	 	 	 	 	 	 	 	 

	 	 	New York Life Insurance and Annuity
 Corporation
Institutionally Owned Life 
Insurance Separate Account
(BOLI 30E)
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	By	 	New York Life Investment Management LLC,
 its Investment Manager	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	By	 	/s/ Kathleen A. Haberkern	 	 
	 

	 	 	 	 	 	 	 	Name:
	 	Kathleen A. Haberkern	 	 
	 

	 	 	 	 	 	 	 	Title:
	 	Director	 	 

-17-

 

			
	 	 	 
	NRP (Operating) LLC
	 	Fourth Supplement

Accepted as of the date first written above.

	 	 	 	 	 	 	 	 	 	 	 	 	 

	 	 	Massachusetts Mutual Life Insurance Company
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	By:	 	Babson Capital Management LLC

as Investment Adviser	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	By	 	/s/ John B. Wheeler	 	 
	 

	 	 	 	 	 	 	 	Name:
	 	John B. Wheeler	 	 
	 

	 	 	 	 	 	 	 	Title:
	 	Managing Director	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	C.M. Life Insurance Company
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	By:	 	Babson Capital Management LLC

as Investment Adviser	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	By	 	/s/ John B. Wheeler	 	 
	 

	 	 	 	 	 	 	 	Name:
	 	John B. Wheeler	 	 
	 

	 	 	 	 	 	 	 	Title:
	 	Managing Director	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	MassMutual Asia Limited
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	By:	 	Babson Capital Management LLC

as Investment Adviser	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	By	 	/s/ John B. Wheeler	 	 
	 

	 	 	 	 	 	 	 	Name:
	 	John B. Wheeler	 	 
	 

	 	 	 	 	 	 	 	Title:
	 	Managing Director	 	 

-18-

 

			
	 	 	 
	NRP (Operating) LLC
	 	Fourth Supplement

Accepted as of the date first written above.

	 	 	 	 	 

	 	 	John Hancock Life Insurance Company (U.S.A.)
	 
	 	 	 	 
	 	 	By /s/ S. Mark Ray
	 

	 	Name:
	 	S. Mark Ray
	 

	 	Title:
	 	Senior Managing Director
	 
	 	 	 	 
	 	 	John Hancock Life & Health Insurance Company
	 
	 	 	 	 
	 	 	By /s/ S. Mark Ray
	 

	 	Name:
	 	S. Mark Ray
	 

	 	Title:
	 	Senior Managing Director

-19-

 

			
	 	 	 
	NRP (Operating) LLC
	 	Fourth Supplement

Accepted as of the date first written above.

	 	 	 	 	 
	 	Sun Life Assurance Company of Canada

 	 
	 	By  	/s/ Deborah J. Foss
 	 
	 	 	Name:  	Deborah J. Foss 	 
	 	 	Title:  	Managing Director, Head of Private 
Debt Private Fixed Income 	 
	 
	 	 	 
	 	By  	                                              /s/ Ann C. King
 	 
	 	 	Name:  	Ann C. King 	 
	 	 	Title:  	Assistant Vice President and Senior Counsel 	 

-20-

 

	 	 	 	 	 

			
	 	 	 
	NRP (Operating) LLC
	 	Fourth Supplement

Accepted as of the date first written above.

	 	 	 	 	 	 	 	 	 	 	 

	 	 	Aviva Life and Annuity Company

Royal Neighbors of America
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	By:	 	Aviva Investors North America, Inc., Its
authorized attorney-in-fact	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	By
	 	/s/ Roger D. Fors	 	 
	 

	 	 	 	 	 	 	 	Name: Roger D. Fors	 	 
	 

	 	 	 	 	 	 	 	Title: VP-Private Fixed Income	 	 

-21-

 

			
	 	 	 
	NRP (Operating) LLC
	 	Fourth Supplement

Accepted as of the date first written above.

	 	 	 	 	 
	 	Protective Life Insurance Company

 	 
	 	By  	/s/ Philip E. Passafiume
 	 
	 	 	Name:  	Philip E. Passafiume 	 
	 	 	Title:  	Director, Fixed Income 	 

-22-

 

	 	 	 	 	 

			
	 	 	 
	NRP (Operating) LLC
	 	Fourth Supplement

Accepted as of the date first written above.

	 	 	 	 	 
	 	Western-Southern Life Assurance Company

 	 
	 	By  	  /s/ James J.  Vance
 	 
	 	 	Name:  	James J.  Vance 	 
	 	 	Title:  	Vice President 	 
	 
	 	 	 
	 	By  	                                              /s/ Jonathan D. Niemeyer
 	 
	 	 	Name:  	Jonathan D. Niemeyer 	 
	 	 	Title:  	Senior Vice President 	 
	 
	 	National Integrity Life Insurance Company

 	 
	 	By  	/s/ James J.  Vance
 	 
	 	 	Name:  	James J.  Vance 	 
	 	 	Title:  	Vice President 	 
	 
	 	 	 
	 	By  	                                              /s/ Kevin L. Howard
 	 
	 	 	Name:  	Kevin L. Howard 	 
	 	 	Title:  	Senior Vice President 	 
	 
	 	The Lafayette Life Insurance Company

 	 
	 	By  	/s/ Richard J. Rudman
 	 
	 	 	Name:  	Richard J. Rudman 	 
	 	 	Title:  	Vice President - Associate General

Counsel and Claims 	 
	 
	 	 	 
	 	By  	                                              /s/ Gregory L. Mitchell
 	 
	 	 	Name:  	Gregory L. Mitchell 	 
	 	 	Title:  	Senior Vice President — Chief

Actuary and Treasurer 	 
	 
	 	ATTEST:

 	 
	 	By  	/s/ Deborah J. Vargo
 	 
	 	 	Name:  	Deborah J. Vargo 	 
	 	 	Title:  	Senior Vice President, General

Counsel and Corporate Secretary 	 

-23-

 

	 	 	 	 	 

			
	 	 	 
	NRP (Operating) LLC
	 	Fourth Supplement

Accepted as of the date first written above.

	 	 	 	 	 
	 	United of Omaha Life Insurance Company

 	 
	 	By  	/s/ Justin P. Kavan
 	 
	 	 	Name:  	Justin P. Kavan 	 
	 	 	Title:  	Vice President 	 
	 
	 	Companion Life Insurance Company

 	 
	 	By  	/s/ Justin P. Kavan
 	 
	 	 	Name:  	Justin P. Kavan 	 
	 	 	Title:  	Authorized Signer 	 

-24-

 

	 	 	 	 	 

			
	 	 	 
	NRP (Operating) LLC
	 	Fourth Supplement

Accepted as of the date first written above.

	 	 	 	 	 
	 	Phoenix Life Insurance Company

 	 
	 	By 	/s/ Christopher M. Wilkos
	 
	 	  	Name: Christopher M. Wilkos 	 
	 	  	Title: Executive Vice President 	 
	 
	 	PHL Variable Insurance Company

 	 
	 	By 	/s/ Christopher M. Wilkos
 	 
	 	  	Name: Christopher M. Wilkos 	 
	 	  	Title: Executive Vice President 	 

-25-

 

	 	 	 	 	 

			
	 	 	 
	NRP (Operating) LLC
	 	Fourth Supplement

Accepted as of the date first written above.

	 	 	 	 	 
	 	The Ohio National Life Insurance Company

 	 
	 	By  	/s/ Jed R. Martin
 	 
	 	 	Name:  	Jed R. Martin 	 
	 	 	Title:  	Vice President, Private Placements 	 
	 
	 	Ohio National Life Assurance Corporation

 	 
	 	By  	/s/ Jed R. Martin
 	 
	 	 	Name:  	Jed R. Martin 	 
	 	 	Title:  	Vice President, Private Placements 	 

-26-

 

	 	 	 	 	 

			
	 	 	 
	NRP (Operating) LLC
	 	Fourth Supplement

Accepted as of the date first written above.

	 	 	 	 	 
	 	Assurity Life Insurance Company

 	 
	 	By /s/ Victor Weber
 	 
	 	      Name:	Victor Weber 	 
	 	      Title:	Senior Director — Investments 	 

-27-

 

	 	 	 	 	 

			
	 	 	 
	NRP (Operating) LLC
	 	Fourth Supplement

Accepted as of the date first written above.

	 	 	 	 	 
	 	Senior Health Insurance Company of
Pennsylvania

 	 
	 	By:  	 Conning, Inc., as Investment Manager
 	 

	 	 	 	 	 
	 	By  	/s/ Samuel Otchere
 	 
	 	 	Name:  	Samuel Otchere 	 
	 	 	Title:  	Vice President 	 

-28-

 

	 	 	 	 	 

			
	 	 	 
	NRP (Operating) LLC
	 	Fourth Supplement

Accepted as of the date first written above.

	 	 	 	 	 
	 	Homesteaders Life Company

 	 
	 	By  	/s/ Kevin L. Kubik
 	 
	 	 	Name:  	Kevin L. Kubik 	 
	 	 	Title:  	Vice President-Investments

Homesteaders Life Company 	 
	 

-29-

 

Information Relating to Purchasers

	 	 	 	 	 	 	 	 	 
	 	 	Series of	 	Principal 
	 	 	Notes to be 	 	Amount of Notes 
	Name and Address of Purchaser	 	Purchased	 	to be Purchased
	Western National Life Insurance Company
	 	 	H	 	 	$	30,000,000	 
	c/o AIG Asset Management

2929 Allen Parkway, A36-04

Houston, Texas 77019-2155

Attn: Private Placements — Portfolio Operations
	 	 	 	 	 	 	 	 

	(1)	 	All payments to be by wire transfer of immediately available funds, with sufficient
information (including PPN, interest rate, maturity date, interest amount, principal amount
and premium amount, if applicable) to identify the source and application of such funds,
to:

The Bank of New York

ABA # 021-000-018

Account Number: GLA111566

For Further Credit to: WESTERN NATIONAL LIFE INSURANCE CO.; Account No. 260638

Reference: PPN and Prin.: $_____ ; Int.: $_____

	(2)	 	Payment notices, audit confirmations and related correspondence to:

Western National Life Insurance Company (260638)

c/o AIG Asset Management

2929 Allen Parkway, A36-04

Houston, Texas 77019-2155

Attn: Private Placements — Portfolio Operations

Fax: (713) 831-1072 OR Email: AIGGIGPVTPLACEMENTOPERATIONS@aig.com

	(3)	 	Duplicate payment notices (only) to:

Western National Life Insurance Company (260638)

c/o The Bank of New York

Attn: P & I Department

Fax: (718) 315-3076

	(4)	 	*Compliance reporting information to:

AIG Asset Management

2929 Allen Parkway, A36-04

Houston, Texas 77019-2155

Attn: Private Placements — Compliance

Email: Compliance-AIGGIG@aig.com

Schedule A

(to Supplement)

 

 

 

			
	*	 	Note: Only two (2) complete sets of compliance information are required for all
companies for which AIG Asset Management Group serves as investment advisor.

	(5)	 	Note to be issued in the name of: WESTERN NATIONAL LIFE INSURANCE COMPANY
	 
	(6)	 	Tax I.D. Number for Western National Life Insurance Company: 75-0770838

	(7)	 	Physical Delivery Instructions:

The Bank of New York

One Wall Street — 3rd Floor Window — A

New York, N.Y. 10286

Attention: Sammy Yankanah, Phone: (212) 635-7077

Account Name: WESTERN NATIONAL LIFE INSURANCE COMPANY

Account Number: 260638

	(8)	 	Depository Trust Company (DTC) Instructions:

Alert Code: WNL

DTC Participant # 901

Institutional ID # 30012

Agent Bank ID # 26500

Account Name: WESTERN NATIONAL LIFE INSURANCE COMPANY

Account Number: 260638

A-2

 

	 	 	 	 	 	 	 	 	 
	 	 	Series of	 	Principal 
	 	 	Notes to be 	 	Amount of Notes 
	Name and Address of Purchaser	 	Purchased	 	to be Purchased
	American General Life Insurance Company 
	 	 	I	 	 	$	20,000,000	 
	c/o AIG Asset Management
	 	 	J	 	 	$	10,000,000	 
	2929 Allen Parkway, A36-04

Houston, Texas 77019-2155

Attn: Private Placements — Portfolio Operations
	 	 	 	 	 	 	 	 

	(1)	 	All payments to be by wire transfer of immediately available funds, with sufficient
information (including PPN, interest rate, maturity date, interest amount, principal amount
and premium amount, if applicable) to identify the source and application of such funds,
to:

State Street Bank & Trust Company

ABA # 011-000-028

Account Name: AMERICAN GENERAL LIFE INSURANCE COMPANY; Fund Number PA 40

Account Number: 0125-880-5

Reference: PPN and Prin.: $______ ; Int.: $______

	(2)	 	Payment notices, audit confirmations and related correspondence to:

American General Life Insurance Company (PA 40)

c/o AIG Asset Management

2929 Allen Parkway, A36-04

Houston, Texas 77019-2155

Attn: Private Placements — Portfolio Operations

Fax: (713) 831-1072 OR Email: AIGGIGPVTPLACEMENTOPERATIONS@aig.com

	(3)	 	Duplicate payment notices (only) to:

American General Life Insurance Company (PA 40)

c/o State Street Bank Corporation, Insurance Services

Fax: (816) 871-5539

	(4)	 	*Compliance reporting information to:

AIG Asset Management

2929 Allen Parkway, A36-04

Houston, Texas 77019-2155

Attn: Private Placements — Compliance

Email: Compliance-AIGGIG@aig.com

A-3

 

 

			
	*	 	Note: Only two (2) complete sets of compliance information are required for all
companies for which AIG Asset Management Group serves as investment advisor.

	(5)	 	Note to be issued in the name of: AMERICAN GENERAL LIFE INSURANCE COMPANY
	 
	(6)	 	Tax I.D. Number for American General Life Insurance Company: 25-0598210

	(7)	 	Physical Delivery Instructions:

DTC / New York Window

55 Water Street

New York, N.Y. 10041

Attention: Robert Mendez for the account of State Street Bank

Account Name: AMERICAN GENERAL LIFE INSURANCE COMPANY

Fund Number: PA 40

Contact: Rosemarie R. Kristl, Phone: (816) 871-9095

	(8)	 	Depository Trust Company (DTC) Instructions:

Alert Code: AGL

DTC Participant # 0997

Institutional ID # 30012

Agent Bank ID # 20997

Account Name: AMERICAN GENERAL LIFE INSURANCE COMPANY

Fund Number: PA 40

A-4

 

	 	 	 	 	 	 	 	 	 
	 	 	Series of	 	Principal
	 	 	Notes to be 	 	 Amount of Notes 
	Name and Address of Purchaser	 	Purchased	 	to be Purchased
	The Variable Annuity Life Insurance Company
	 	 	I	 	 	$	20,000,000	 
	  
	 	 	J	 	 	$	10,000,000	 
	c/o AIG Asset Management 

2929 Allen Parkway, A36-04

Houston, Texas 77019-2155

Attn: Private Placements — Portfolio Operations
	 	 	 	 	 	 	 	 

	(1)	 	All payments to be by wire transfer of immediately available funds, with sufficient
information (including PPN #, interest rate, maturity date, interest amount, principal amount
and premium amount, if applicable) to identify the source and application of such funds,
to:

The Bank of New York

ABA # 021-000-018

Account Number: GLA111566

For Further Credit to: VARIABLE ANNUITY LIFE INSURANCE CO.; Account No. 260735

Reference: PPN and Prin.: $ ; Int.: $_____

	(2)	 	Payment notices, audit confirmations and related correspondence to:

The Variable Annuity Life Insurance Company (260735)

c/o AIG Asset Management

2929 Allen Parkway, A36-04

Houston, Texas 77019-2155

Attn: Private Placements — Portfolio Operations

Fax: (713) 831-1072 OR Email: AIGGIGPVTPLACEMENTOPERATIONS@aig.com

	(3)	 	Duplicate payment notices (only) to:

The Variable Annuity Life Insurance Company (260735)

c/o The Bank of New York

Attn: P & I Department

Fax: (718) 315-3076

	(4)	 	*Compliance reporting information to:

AIG Asset Management

2929 Allen Parkway, A36-04

Houston, Texas 77019-2155

Attn: Private Placements — Compliance

Email: Compliance-AIGGIG@aig.com

A-5

 

 

			
	*	 	Note: Only two (2) complete sets of compliance information are required for all
companies for which AIG Asset Management Group serves as investment advisor.

	(5)	 	Note to be issued in the name of: THE VARIABLE ANNUITY LIFE INSURANCE COMPANY
	 
	(6)	 	Tax I.D. Number for The Variable Annuity Life Insurance Company: 74-1625348

	(7)	 	Physical Delivery Instructions:

The Bank of New York

One Wall Street — 3rd Floor Window — A

New York, N.Y. 10286

Attn: Sammy Yankanah, Phone: (212) 635-7077

Account Name: THE VARIABLE ANNUITY LIFE INSURANCE COMPANY

Account Number: 260735

	(8)	 	Depository Trust Company (DTC) Instructions:

Alert Code: VALIC

DTC Participant # 901

Institutional ID # 30012

Agent Bank ID # 26500

Account Name: THE VARIABLE ANNUITY LIFE INSURANCE COMPANY

Account Number: 260735

A-6

 

	 	 	 	 	 	 	 	 	 
	 	 	Series of	 	Principal 
	 	 	Notes to be 	 	Amount of Notes 
	Name and Address of Purchaser	 	Purchased	 	to be Purchased
	Teachers Insurance and Annuity
	 	 	I	 	 	$	16,000,000	 
	 Association of America
	 	 	J	 	 	$	16,000,000	 
	8500 Andrew Carnegie Boulevard
	 	 	K	 	 	$	16,000,000	 
	Charlotte, North Carolina 28262
	 	 	 	 	 	 	 	 

Payments

All payments on or in respect of the Notes shall be made in immediately available funds on the due
date by electronic funds transfer, through the Automated Clearing House System, to:

JPMorgan Chase Bank, N.A.

ABA #021-000-021

Account Number 900-9-000200

Account Name: TIAA

For Further Credit to the Account Number: G07040

Reference: PPN 62963# AJ0, NRP (Operating) LLC, Series I

Maturity Date: December 1, 2026/Interest Rate: 5.03%/P&I Breakdown and/or

Reference: PPN 62963# AK7, NRP (Operating) LLC, Series J

Maturity Date: December 1, 2026/Interest Rate: 5.03%/P&I Breakdown and/or

Reference: PPN 62963# AL5, NRP (Operating) LLC, Series K

Maturity Date: December 1, 2026/Interest Rate: 5.18%/P&I Breakdown

Notices

All notices with respect to payments and prepayments of the Notes shall be sent to:

Teachers Insurance and Annuity Association of America

730 Third Avenue

New York, New York 10017

Attention: Securities Accounting Division

Phone: (212) 916-4109

Fax: (212) 916-6955

With a copy to:

JPMorgan Chase Bank, N.A.

P. O. Box 35308

Newark, New Jersey 07101

A-7

 

And to:

Teachers Insurance and Annuity Association of America

8500 Andrew Carnegie Blvd.

Charlotte, North Carolina 28262

Attention: Global Private Markets

Telephone: (704) 988-4349 (Ho-Young Lee)

                     (704) 988-1000 (General Number)

Facsimile: (704) 988-4916

Email: hlee@tiaa-cref.org

Contemporaneous written confirmation of any electronic funds transfer shall be sent to the above
addresses setting forth: (1) the full name, private placement number, interest rate and maturity
date of the Notes, (2) the allocation of the payment between principal, interest, Make-Whole
Amount, other premium or any special payment; and (3) the name and address of the bank from which
such electronic funds transfer was sent.

All other notices and communications shall be delivered or mailed to:

Teachers Insurance and Annuity Association of America

8500 Andrew Carnegie Blvd.

Charlotte, North Carolina 28262

Attention: Global Private Markets

Telephone: (704) 988-4349 (Ho-Young Lee)

                     (704) 988-1000 (General Number)

Facsimile: (704) 988-4916

Email: hlee@tiaa-cref.org

Name of Nominee in which Notes are to be issued: None

Taxpayer I.D. Number: 13-1624203

Deliver Notes to:

JPMorgan Chase Bank, N.A.

4 Chase Metrotech Center, 3rd Floor

Brooklyn, NY 11245-0001

Attention: Physical Receive Department

For TIAA A/C #G07040

A-8

 

	 	 	 	 	 	 	 	 	 
	 	 	Series of	 	Principal 
	 	 	Notes to be 	 	Amount of Notes 
	Name and Address of Purchaser	 	Purchased	 	to be Purchased
	New York Life Insurance Company
	 	 	H	 	 	$	6,750,000	 
	c/o New York Life Investment Management LLC
	 	 	K	 	 	$	6,750,000	 
	51 Madison Avenue 

2nd Floor, Room 208

New York, New York 10010

Attention: Fixed Income Investors Group, 

Private Finance, 2nd Floor 

Fax Number: (212) 447-4122
	 	 	 	 	 	 	 	 

Payments

All payments by wire or intrabank transfer of immediately available funds to:

JPMorgan Chase Bank

New York, New York 10019

ABA #021-000-021

Credit: New York Life Insurance Company

General Account No. 008-9-00687

With sufficient information (including issuer, PPN number, interest rate, maturity and whether payment is of principal, premium, or interest) to identify the source and application of such funds.

Notices

All notices with respect to payments and written confirmation of each such payment and any audit
confirmation, to be addressed:

New York Life Insurance Company

c/o New York Life Investment Management LLC

51 Madison Avenue

2nd Floor, Room 208

New York, New York 10010-1603

Attention: Securities Operation, Private Group, 2nd Floor

Fax Number: (908) 840-3385

with a copy sent electronically to:

FIIGLibrary@nylim.com

TraditionalPVtOps@nylim.com

A-9

 

All other notices and communications to be addressed as first provided above, with a copy sent
electronically to: (1) FIIGLibrary@nylim.com and (2) TraditionalPVtOps@nylim.com and with a copy of
any notices regarding defaults or Events of Default under the operative documents to: Attention:
Office of the General Counsel, Investment Section, Room 1016, Fax Number: (212) 576-8340.

Name of Nominee in which Notes are to be issued: None

Taxpayer I.D. Number: 13-5582869

Deliver Notes to:

New York Life Investment Management LLC

51 Madison Avenue

New York, NY 10010

Attn: Michael Boyd, Esq.

Phone: (212) 576-6755

A-10

 

	 	 	 	 	 	 	 	 	 
	 	 	Series of	 	Principal 
	 	 	Notes to be 	 	Amount of Notes 
	Name and Address of Purchaser	 	Purchased	 	to be Purchased
	New York Life Insurance and Annuity Corporation
	 	 	H	 	 	$	7,000,000	 
	  
	 	 	K	 	 	$	7,000,000	 
	c/o New York Life Investment Management LLC 

51 Madison Avenue 

2nd Floor, Room 208

New York, New York 10010-1603

Attention: Fixed Income Investors Group,

Private Finance, 2nd Floor 

Fax Number: (212) 447-4122
	 	 	 	 	 	 	 	 

Payments

All payments by wire or intrabank transfer of immediately available funds to:

JPMorgan Chase Bank

New York, New York

ABA #021-000-021

Credit: New York Life Insurance and Annuity Corporation

General Account Number 323-8-47382

With sufficient information (including issuer, PPN number, interest rate, maturity and whether payment is of principal, premium, or interest) to identify the source and application of such funds.

Notices

All notices with respect to payments and written confirmation of each such payment and any audit
confirmation, to be addressed:

New York Life Insurance and Annuity Corporation

c/o New York Life Investment Management LLC

51 Madison Avenue

2nd Floor, Room 208

New York, New York 10010-1603

Attention: Securities Operation, Private Group, 2nd Floor

Fax Number: (908) 840-3385

with a copy sent electronically to:

FIIGLibrary@nylim.com

TraditionalPVtOps@nylim.com

A-11

 

All other notices and communications to be addressed as first provided above, with a copy sent
electronically to: (1) FIIGLibrary@nylim.com and (2) TraditionalPVtOps@nylim.com and with a copy of
any notices regarding defaults or Events of Default under the operative documents to: Attention:
Office of the General Counsel, Investment Section, Room 1016, Fax Number: (212) 576-8340.

Name of Nominee in which Notes are to be issued: None

Taxpayer I.D. Number: 13-3044743

Deliver Notes to:

New York Life Investment Management LLC

51 Madison Avenue

New York, NY 10010

Attn: Michael Boyd, Esq.

Phone: (212) 576-6755

A-12

 

	 	 	 	 	 	 	 	 	 
	 	 	Series of	 	Principal
	 	 	Notes to be	 	Amount of Notes
	Name and Address of Purchaser	 	Purchased	 	to be Purchased
	New York Life Insurance and Annuity
	 	 	H	 	 	 	$500,000	 
	Corporation Institutionally Owned Life
	 	 	K	 	 	 	$500,000	 
	 Insurance Separate Account (BOLI 30C)
	 	 	 	 	 	 	 	 
	c/o New York Life Investment Management LLC
	 	 	 	 	 	 	 	 
	51 Madison Avenue
	 	 	 	 	 	 	 	 
	2nd Floor, Room 208
	 	 	 	 	 	 	 	 
	New York, New York 10010-1603
	 	 	 	 	 	 	 	 
	Attention: Fixed Income Investors Group,
	 	 	 	 	 	 	 	 
	Private Finance, 2nd Floor
	 	 	 	 	 	 	 	 
	Fax Number: (212) 447-4122
	 	 	 	 	 	 	 	 

Payments

All payments by wire or intrabank transfer of immediately available funds to:

JPMorgan Chase Bank

New York, New York

ABA #021-000-021

Credit: NYLIAC SEPARATE BOLI 30C

General Account Number 304-6-23970

With sufficient information (including issuer, PPN number, interest rate, maturity and
whether payment is of principal, premium, or interest) to identify the source and
application of such funds, with advice of such payments to:

Notices

All notices of payments, written confirmations of such wire transfers and any audit confirmation:

New York Life Insurance and Annuity Corporation

Institutionally Owned Life Insurance Separate Account

c/o New York Life Investment Management LLC

51 Madison Avenue

2nd Floor, Room 208

New York, New York 10010-1603

Attention: Securities Operation, Private Group, 2nd Floor

Fax Number: (908) 840-3385

A-13

 

with a copy sent electronically to:

FIIGLibrary@nylim.com

TraditionalPVtOps@nylim.com

All other notices and communications to be addressed as first provided above, with a copy sent
electronically to: (1) FIIGLibrary@nylim.com and (2) TraditionalPVtOps@nylim.com and with a copy of
any notices regarding defaults or Events of Default under the operative documents to: Attention:
Office of the General Counsel, Investment Section, Room 1016, Fax Number: (212) 576-8340.

Name in which Notes are to be issued: New York Life Insurance and Annuity Corporation
Institutionally Owned Life Insurance Separate Account (BOLI 30C)

Taxpayer I.D. Number: 13-3044743

Deliver Notes to:

New York Life Investment Management LLC

51 Madison Avenue

New York, NY 10010

Attn: Michael Boyd, Esq.

Phone: (212) 576-6755

A-14

 

	 	 	 	 	 	 	 	 	 
	 	 	Series of	 	Principal
	 	 	Notes to be	 	Amount of Notes
	Name and Address of Purchaser	 	Purchased	 	to be Purchased
	New York Life Insurance and Annuity
	 	 	H	 	 	 	$250,000	 
	Corporation Institutionally Owned Life
	 	 	K	 	 	 	$250,000	 
	Insurance Separate Account (BOLI 3)
	 	 	 	 	 	 	 	 
	c/o New York Life Investment Management LLC
	 	 	 	 	 	 	 	 
	51 Madison Avenue
	 	 	 	 	 	 	 	 
	2nd Floor, Room 208
	 	 	 	 	 	 	 	 
	New York, New York 10010-1603
	 	 	 	 	 	 	 	 
	Attention: Fixed Income Investors Group,
	 	 	 	 	 	 	 	 
	Private Finance, 2nd Floor
	 	 	 	 	 	 	 	 
	Fax Number: (212) 447-4122
	 	 	 	 	 	 	 	 

Payments

All payments by wire or intrabank transfer of immediately available funds to:

JPMorgan Chase Bank

New York, New York

ABA #021-000-021

Credit: NYLIAC SEPARATE BOLI 3 BROAD FIXED

General Account Number 323-8-39002

With sufficient information (including issuer, PPN number, interest rate, maturity and
whether payment is of principal, premium, or interest) to identify the source and
application of such funds.

Notices

All notices with respect to payments and written confirmation of each such payment and any audit
confirmation, to be addressed:

New York Life Insurance and Annuity Corporation

Institutionally Owned Life Insurance Separate Account

c/o New York Life Investment Management LLC

51 Madison Avenue

2nd Floor, Room 208

New York, New York 10010-1603

Attention: Securities Operation, Private Group, 2nd Floor

Fax Number: (908) 840-3385

A-15

 

with a copy sent electronically to:

FIIGLibrary@nylim.com

TraditionalPVtOps@nylim.com

All other notices and communications to be addressed as first provided above, with a copy sent
electronically to: (1) FIIGLibrary@nylim.com and (2) TraditionalPVtOps@nylim.com and with a copy of
any notices regarding defaults or Events of Default under the operative documents to: Attention:
Office of the General Counsel, Investment Section, Room 1016, Fax Number: (212) 576-8340.

Name in which Notes are to be issued: New York Life Insurance and Annuity Corporation
Institutionally Owned Life Insurance Separate Account (BOLI 3)

Taxpayer I.D. Number: 13-3044743

Deliver Notes to:

New York Life Investment Management LLC

51 Madison Avenue

New York, NY 10010

Attn: Michael Boyd, Esq.

Phone: (212) 576-6755

A-16

 

	 	 	 	 	 	 	 	 	 
	 	 	Series of	 	Principal
	 	 	Notes to be	 	Amount of Notes
	Name and Address of Purchaser	 	Purchased	 	to be Purchased
	New York Life Insurance and Annuity
	 	 	H	 	 	 	$250,000	 
	Corporation Institutionally Owned Life
	 	 	K	 	 	 	$250,000	 
	Insurance Separate Account (BOLI 3-2)
	 	 	 	 	 	 	 	 
	c/o New York Life Investment Management LLC
	 	 	 	 	 	 	 	 
	51 Madison Avenue
	 	 	 	 	 	 	 	 
	2nd Floor, Room 208
	 	 	 	 	 	 	 	 
	New York, New York 10010-1603
	 	 	 	 	 	 	 	 
	Attention: Fixed Income Investors Group,
	 	 	 	 	 	 	 	 
	Private Finance, 2nd Floor
	 	 	 	 	 	 	 	 
	Fax Number: (212) 447-4122
	 	 	 	 	 	 	 	 

Payments

All payments by wire or intrabank transfer of immediately available funds to:

JPMorgan Chase Bank

New York, New York

ABA #021-000-021

Credit: NYLIAC SEPARATE BOLI 3-2

General Account Number 323-9-56793

With sufficient information (including issuer, PPN number, interest rate, maturity and
whether payment is of principal, premium, or interest) to identify the source and
application of such funds, with advice of such payments to:

Notices

All notices of payments, written confirmations of such wire transfers and any audit confirmation:

New York Life Insurance and Annuity Corporation

Institutionally Owned Life Insurance Separate Account

c/o New York Life Investment Management LLC

51 Madison Avenue

2nd Floor, Room 208

New York, New York 10010-1603

Attention: Securities Operation, Private Group, 2nd Floor

Fax Number: (908) 840-3385

A-17

 

with a copy sent electronically to:

FIIGLibrary@nylim.com

TraditionalPVtOps@nylim.com

All other notices and communications to be addressed as first provided above, with a copy sent
electronically to: (1) FIIGLibrary@nylim.com and (2) TraditionalPVtOps@nylim.com and with a copy of
any notices regarding defaults or Events of Default under the operative documents to: Attention:
Office of the General Counsel, Investment Section, Room 1016, Fax Number: (212) 576-8340.

Name in which Notes are to be issued: New York Life Insurance and Annuity Corporation
Institutionally Owned Life Insurance Separate Account (BOLI 3-2)

Taxpayer I.D. Number: 13-3044743

Deliver Notes to:

New York Life Investment Management LLC

51 Madison Avenue

New York, NY 10010

Attn: Michael Boyd, Esq.

Phone: (212) 576-6755

A-18

 

	 	 	 	 	 	 	 	 	 
	 	 	Series of	 	Principal
	 	 	Notes to be	 	Amount of Notes
	Name and Address of Purchaser	 	Purchased	 	to be Purchased
	New York Life Insurance and Annuity
	 	 	H	 	 	 	$250,000	 
	Corporation Institutionally Owned Life
	 	 	K	 	 	 	$250,000	 
	Insurance Separate Account (BOLI 30E)
	 	 	 	 	 	 	 	 
	c/o New York Life Investment Management LLC
	 	 	 	 	 	 	 	 
	51 Madison Avenue
	 	 	 	 	 	 	 	 
	2nd Floor, Room 208
	 	 	 	 	 	 	 	 
	New York, New York 10010-1603
	 	 	 	 	 	 	 	 
	Attention: Fixed Income Investors Group,
	 	 	 	 	 	 	 	 
	Private Finance, 2nd Floor
	 	 	 	 	 	 	 	 
	Fax Number: (212) 447-4122
	 	 	 	 	 	 	 	 

Payments

All payments by wire or intrabank transfer of immediately available funds to:

JPMorgan Chase Bank

New York, New York

ABA #021-000-021

Credit: NYLIAC SEPARATE BOLI 30E

General Account Number 860318708

With sufficient information (including issuer, PPN number, interest rate, maturity and
whether payment is of principal, premium, or interest) to identify the source and
application of such funds, with advice of such payments to:

Notices

All notices of payments, written confirmations of such wire transfers and any audit confirmation:

New York Life Insurance and Annuity Corporation

Institutionally Owned Life Insurance Separate Account

c/o New York Life Investment Management LLC

51 Madison Avenue

2nd Floor, Room 208

New York, New York 10010-1603

Attention: Securities Operation, Private Group, 2nd Floor, Room 201

Fax Number: (908) 840-3385

with a copy sent electronically to:

FIIGLibrary@nylim.com

TraditionalPVtOps@nylim.com

A-19

 

All other notices and communications to be addressed as first provided above, with a copy sent
electronically to: (1) FIIGLibrary@nylim.com and (2) TraditionalPVtOps@nylim.com and with a copy of
any notices regarding defaults or Events of Default under the operative documents to: Attention:
Office of the General Counsel, Investment Section, Room 1016, Fax Number: (212) 576-8340.

Name in which Notes are to be issued: New York Life Insurance and Annuity Corporation
Institutionally Owned Life Insurance Separate Account (BOLI 30E)

Taxpayer I.D. Number: 13-3044743

Deliver Notes to:

New York Life Investment Management LLC

51 Madison Avenue

New York, NY 10010

Attn: Michael Boyd, Esq.

Phone: (212) 576-6755

A-20

 

	 	 	 	 	 	 	 	 	 
	 	 	Series of	 	Principal
	 	 	Notes to be	 	Amount of Notes
	Name and Address of Purchaser	 	Purchased	 	to be Purchased
	Massachusetts Mutual Life
	 	 	H	 	 	 	$3,750,000	 
	 Insurance Company
	 	 	I	 	 	 	$3,750,000	 
	c/o Babson Capital Management LLC
	 	 	J	 	 	 	$3,750,000	 
	1500 Main Street, Suite 2200
	 	 	K	 	 	 	$3,750,000	 
	P.O. Box 15189
	 	 	 	 	 	 	 	 
	Springfield, Massachusetts 01115-5189
	 	 	 	 	 	 	 	 
	Attention: Securities Investment Division
	 	 	 	 	 	 	 	 

Payments

All payments on or in respect of the Notes to be by bank wire transfer of Federal or other
immediately available funds (identifying each payment as “NRP (Operating) LLC, 4.73% Senior Notes,
Series H, December 1, 2023, PPN 62963# AH4” and/or “5.03% Senior Notes, Series I,
December 1, 2026, PPN 62963# AJ0” and/or “5.03% Senior Notes, Series J, December 1, 2026, PPN
62963# AK7” and/or “5.18% Senior Notes, Series K, December 1, 2026, PPN 62963# AL5,”
principal, premium or interest) to:

MassMutual Co-Owned Account

Citibank

New York, New York

ABA No. 021000089

Account No. 30510685

Re: Description of security, cusip, principal and interest split

With telephone advice of payment to the Securities Custody and Collection Department of Babson
Capital Management LLC at (413) 226-1754 or (413) 226-1803.

Notices

All notices and communications to be addressed as first provided above, except notices with respect
to payments to be addressed

Massachusetts Mutual Life Insurance Company

c/o Babson Capital Management LLC

1500 Main Street, Suite 200

P. O. Box 15189

Springfield, Massachusetts 01115-5189

Attention: Securities Custody and Collection Department

Name of Nominee in which Notes are to be issued: None

Taxpayer I.D. Number: 04-1590850

A-21

 

DTTP No.: 13/M/63867/DTTP

Physical Delivery Instructions:

Steven J. Katz, Counsel

Babson Capital Management LLC

1500 Main Street, Suite 2800

Springfield, MA 01115

Telephone: (413) 226-1059

Facsimile: (413) 226-2059

E-Mail: skatz@BabsonCapital.com

A-22

 

	 	 	 	 	 	 	 	 	 
	 	 	Series of	 	Principal
	 	 	Notes to be	 	Amount of Notes
	Name and Address of Purchaser	 	Purchased	 	to be Purchased
	C.M. Life Insurance Company
	 	 	H	 	 	 	$1,000,000	 
	c/o Babson Capital Management LLC
	 	 	I	 	 	 	$1,000,000	 
	1500 Main Street, Suite 2200
	 	 	J	 	 	 	$1,000,000	 
	P.O. Box 15189
	 	 	K	 	 	 	$1,000,000	 
	Springfield, Massachusetts 01115-5189
	 	 	 	 	 	 	 	 
	Attention: Securities Investment Division
	 	 	 	 	 	 	 	 

Payments

All payments on or in respect of the Notes to be by bank wire transfer of Federal or other
immediately available funds (identifying each payment as “NRP (Operating) LLC, 4.73% Senior Notes,
Series H, December 1, 2023, PPN 62963# AH4” and/or “5.03% Senior Notes, Series I,
December 1, 2026, PPN 62963# AJ0” and/or “5.03% Senior Notes, Series J, December 1, 2026, PPN
62963# AK7” and/or “5.18% Senior Notes, Series K, December 1, 2026, PPN 62963# AL5,”
principal, premium or interest) to:

MassMutual Co-Owned Account

Citibank

New York, New York

ABA No. 021000089

Account No. 30510685

Re: Description of security, cusip, principal and interest split

With telephone advice of payment to the Securities Custody and Collection Department of Babson
Capital Management LLC at (413) 226-1754 or (413) 226-1803.

Notices

All notices and communications to be addressed as first provided above, except notices with respect
to payments to be addressed

C.M. Life Insurance Company

c/o Babson Capital Management LLC

1500 Main Street, Suite 200

P. O. Box 15189

Springfield, Massachusetts 01115-5189

Attention: Securities Custody and Collection Department

Name of Nominee in which Notes are to be issued: None

Taxpayer I.D. Number: 06-1041383

A-23

 

DTTP No.: 13/C/65904/DTTP

Physical Delivery Instructions:

Steven J. Katz, Counsel

Babson Capital Management LLC

1500 Main Street, Suite 2800

Springfield, MA 01115

Telephone: (413) 226-1059

Facsimile: (413) 226-2059

E-Mail: skatz@BabsonCapital.com

A-24

 

	 	 	 	 	 	 	 	 	 
	 	 	Series of	 	Principal
	 	 	Notes to be	 	Amount of Notes
	Name and Address of Purchaser	 	Purchased	 	to be Purchased
	MassMutual Asia Limited
	 	 	H	 	 	 	$250,000	 
	c/o Babson Capital Management LLC
	 	 	I	 	 	 	$250,000	 
	1500 Main Street, Suite 2200
	 	 	J	 	 	 	$250,000	 
	P.O. Box 15189
	 	 	K	 	 	 	$250,000	 
	Springfield, Massachusetts 01115-5189
	 	 	 	 	 	 	 	 
	Attention: Securities Investment Division
	 	 	 	 	 	 	 	 

Payments

All payments on or in respect of the Notes to be by bank wire transfer of Federal or other
immediately available funds (identifying each payment as “NRP (Operating) LLC, 4.73% Senior Notes,
Series H, December 1, 2023, PPN 62963# AH4” and/or “5.03% Senior Notes, Series I,
December 1, 2026, PPN 62963# AJ0” and/or “5.03% Senior Notes, Series J, December 1, 2026, PPN
62963# AK7” and/or “5.18% Senior Notes, Series K, December 1, 2026, PPN 62963# AL5,”
principal, premium or interest) to:

Gerlach & Co.

c/o Citibank, N.A

ABA #021000089

Concentration Account 36112805

Attention: Judy Rock

Re: MassMutual Asia 849195

Name of Security, PPN Number

With telephone advice of payment to the Securities Custody and Collection Department of Babson
Capital Management LLC at (413) 226-1803 or (413) 226-1754.

Notices

All notices and communications to be addressed as first provided above, except notices with respect
to payments, and written confirmation of each such payment, to be addressed:

MassMutual Asia Limited

c/o Babson Capital Management LLC

1500 Main Street, Suite 200

P. O. Box 15189

Springfield, Massachusetts 01115-5189

Attention: Securities Custody and Collection Department

Corporate action notifications should be addressed:

A-25

 

Citigroup Global Securities Services

Attention: Corporate Action Department

3800 Citibank Center Tampa

Building B Floor 3

Tampa, Florida 33610-9122

Name of Nominee in which Notes are to be issued: Gerlach & Co.

Physical Delivery Instructions:

Citibank NA

399 Park Avenue

Level B Vault

New York, New York 10022

For Account Number 849195

A-26

 

	 	 	 	 	 	 	 	 	 
	 	 	Series of	 	Principal
	 	 	Notes to be	 	Amount of Notes
	Name and Address of Purchaser	 	Purchased	 	to be Purchased
	John Hancock Life Insurance Company (U.S.A.)
	 	 	H	 	 	 	$12,000,000	 
	 
	 	 	I	 	 	 	$5,000,000	 
	c/o John Hancock Financial Services
	 	 	 	 	 	 	 	 
	197 Clarendon Street
	 	 	 	 	 	 	 	 
	Boston, Massachusetts 02116
	 	 	 	 	 	 	 	 
	Attn: Bond and Corporate Finance, C-2
	 	 	 	 	 	 	 	 
	Fax: (617) 572-1628
	 	 	 	 	 	 	 	 

Payments

All payments to be by bank wire transfer of immediately available funds to:

	 	 	 	 	 

	 

	 	Bank Name:
	 	 Bank of New York Mellon
	 

	 	ABA Number:
	 	 011001234
	 

	 	Account Number:
	 	 JPPF1001002
	 

	 	Account Name:
	 	 US PP Collector F008
	 

	 	For Further Credit to:
	 	 DDA Number 048771
	 

	 	On Order of:
	 	  NRP (Operating) LLC
	 

	 	 	 	 4.73% Senior Notes, Series H, due December 1, 2023, PPN 62963# AH4
and/or 5.03% Senior Notes, Series I, due December 1, 2026, PPN 62963#
AJ0, P&I Breakdown

Notices

All notices with respect to payments, prepayments (scheduled and unscheduled, whether partial or
full) and maturity shall be sent to:

John Hancock Financial Services

197 Clarendon Street

Boston, Massachusetts 02116

Attention: US Securities Operations, C-4

Fax: (617) 572-0628

Email: bossecops@jhancock.com

and

John Hancock Financial Services

197 Clarendon Street

Boston, Massachusetts 02116

Attention: Investment Administration, C-4

Fax: (617) 572-5495

A-27

 

Email: InvestmentAdministration@jhancock.com

All notices and communications with respect to compliance reporting, financial statements and
related certifications shall be sent to:

John Hancock Financial Services

197 Clarendon Street

Boston, Massachusetts 02116

Attention: Bond and Corporate Finance, C-2

Fax: (617) 572-1628

All other notices shall be addressed as first provided above with a copy to:

John Hancock Financial Services

197 Clarendon Street

Boston, Massachusetts 02116

Attention: Investment Law, C-3

Fax: (617) 572-9269

Name of Nominee in which Notes are to be issued: None

Taxpayer I.D. Number: 01-0233346

Deliver Notes to:

John Hancock Financial Services

197 Clarendon Street, C-3

Boston, Massachusetts 02116

Attention: Michael J. Mihalik, Jr.

Phone: (617) 572-9209

A-28

 

	 	 	 	 	 	 	 	 	 
	 	 	Series of	 	Principal
	 	 	Notes to be	 	Amount of Notes
	Name and Address of Purchaser	 	Purchased	 	to be Purchased
	John Hancock Life & Health
	 	 	H	 	 	 	$3,000,000	 
	 Insurance Company
	 	 	 	 	 	 	 	 
	c/o John Hancock Financial Services
	 	 	 	 	 	 	 	 
	197 Clarendon Street
	 	 	 	 	 	 	 	 
	Boston, Massachusetts 02116
	 	 	 	 	 	 	 	 
	Attn: Bond and Corporate Finance, C-2
	 	 	 	 	 	 	 	 
	Fax: (617) 572-1628
	 	 	 	 	 	 	 	 

Payments

All payments to be by bank wire transfer of immediately available funds to:

	 	 	 	 	 

	 

	 	Bank Name:
	 	 Bank of New York Mellon
	 

	 	ABA Number:
	 	 011001234
	 

	 	Account Number:
	 	 JPPF1001002
	 

	 	Account Name:
	 	 US PP Collector F008
	 

	 	For Further Credit to:
	 	 DDA Number 048771
	 

	 	On Order of:
	 	 NRP (Operating) LLC
	 

	 	 	 	 4.73% Senior Notes, Series H, due December 1, 2023, PPN 62963# AH4,
P&I Breakdown

Notices

All notices with respect to payments, prepayments (scheduled and unscheduled, whether partial or
full) and maturity shall be sent to:

John Hancock Financial Services

197 Clarendon Street

Boston, Massachusetts 02116

Attention: US Securities Operations, C-4

Fax: (617) 572-0628

Email: bossecops@jhancock.com

and

John Hancock Financial Services

197 Clarendon Street

Boston, Massachusetts 02116

Attention: Investment Administration, C-4

Fax: (617) 572-5495

Email: InvestmentAdministration@jhancock.com

A-29

 

All notices and communications with respect to compliance reporting, financial statements and
related certifications shall be sent to:

John Hancock Financial Services

197 Clarendon Street

Boston, Massachusetts 02116

Attention: Bond and Corporate Finance, C-2

Fax: (617) 572-1628

All other notices shall be addressed as first provided above with a copy to:

John Hancock Financial Services

197 Clarendon Street

Boston, Massachusetts 02116

Attention: Investment Law, C-3

Fax: (617) 572-9269

Name of Nominee in which Notes are to be issued: None

Taxpayer I.D. Number: 13-3072894

Deliver Notes to:

John Hancock Financial Services

197 Clarendon Street, C-3

Boston, Massachusetts 02116

Attention: Michael J. Mihalik, Jr.

Phone: (617) 572-9209

A-30

 

	 	 	 	 	 	 	 	 	 
	 	 	Series of	 	Principal 
	 	 	Notes to be 	 	Amount of Notes 
	Name and Address of Purchaser	 	Purchased	 	to be Purchased
	Sun Life Assurance Company of Canada
	 	 	I	 	 	 	$5,000,000	 
	c/o Sun Capital Advisers LLC
	 	 	K	 	 	 	$5,000,000	 
	One Sun Life Executive Park
	 	 	 	 	 	 	 	 
	Wellesley Hills, Massachusetts 02481
	 	 	 	 	 	 	 	 
	Attention: Investments/Private Fixed Income,
	 	 	 	 	 	 	 	 
	SC1303
	 	 	 	 	 	 	 	 

Payments

All payments on or in respect of the Notes to be by bank wire transfer of Federal or other
immediately available funds (identifying each payment as “NRP (Operating) LLC, 5.03% Senior Notes,
Series I, December 1, 2026, PPN 62963# AJ0” and/or “5.18% Senior Notes, Series K, December 1, 2026,
PPN 62963# AL5,” principal, premium or interest) to:

Citibank, N.A.

ABA #021000089

Account No.: 36112805

For Further Credit

Account Name: Sun Life of Canada Trust

Account No.: 199541

Ref: issuer and security description above

All wire transfers are to be accompanied by the PPN and by the source and the principal and
interest application of the funds. Written notice of each routine payment and any audit
confirmation is to be sent to:

Sun Life Financial

Attn: Investments/Private Fixed Income — SC302D36

227 King Street South

Waterloo, ON N2J 4C5 Canada

Notices

All other notices and correspondence, including notices of non-routine payments, are to be
addressed as first provided above.

Name of Nominee in which Notes are to be issued: None

Taxpayer I.D. Number: 38-1082080

A-31

 

Physical Delivery Instructions:

Sun Capital Advisers LLC

One Sun Life Executive Park, SC1303

Wellesley Hills, MA 02481-5699

Attention: Linda R. Guillette

A-32

 

	 	 	 	 	 	 	 	 	 
	 	 	Series of	 	Principal 
	 	 	Notes to be 	 	Amount of Notes 
	Name and Address of Purchaser	 	Purchased	 	to be Purchased
	Sun Life Assurance Company of Canada
	 	 	I	 	 	 	$10,000,000	 
	c/o Sun Capital Advisers LLC
	 	 	 	 	 	 	 	 
	One Sun Life Executive Park
	 	 	 	 	 	 	 	 
	Wellesley Hills, Massachusetts 02481
	 	 	 	 	 	 	 	 
	Attention: Investments/Private Fixed Income,
	 	 	 	 	 	 	 	 
	SC1303
	 	 	 	 	 	 	 	 

Payments

All payments on or in respect of the Notes to be by bank wire transfer of Federal or other
immediately available funds (identifying each payment as “NRP (Operating) LLC, 5.03% Senior Notes,
Series I, December 1, 2026, PPN 62963# AJ0,” principal, premium or interest) to:

Citibank, N.A.

ABA #021000089

Account No.: 36112805

For Further Credit

Account Name: SLOC Offshore Life Custody

Account No.: 850440

Ref: issuer and security description above

All wire transfers are to be accompanied by the PPN and by the source and the principal and
interest application of the funds. Written notice of each routine payment and any audit
confirmation is to be sent to:

Sun Life Financial

Attn: Investments/Private Fixed Income — SC302D36

227 King Street South

Waterloo, ON N2J 4C5 Canada

Notices

All other notices and correspondence, including notices of non-routine payments, are to be
addressed as first provided above.

Name of Nominee in which Notes are to be issued: None

Taxpayer I.D. Number: No U.S. tax ID

A-33

 

Physical Delivery Instructions:

Sun Capital Advisers LLC

One Sun Life Executive Park, SC1303

Wellesley Hills, MA 02481-5699

Attention: Linda R. Guillette

A-34

 

	 	 	 	 	 	 	 	 	 
	 	 	Series of	 	Principal 
	 	 	Notes to be 	 	Amount of Notes 
	Name and Address of Purchaser	 	Purchased	 	to be Purchased
	Aviva Life and Annuity Company
	 	 	I	 	 	 	$15,300,000	 
	c/o Aviva Investors North America, Inc.
	 	 	 	 	 	 	 	 
	215 10th Street, Suite 1000
	 	 	 	 	 	 	 	 
	Des Moines, IA 50309
	 	 	 	 	 	 	 	 

Payments

All payments on or in respect of the Notes to be by bank wire transfer of Federal or other
immediately available funds to:

	 	 	 	 	 

	 	 	The Bank of New York

New York, New York

ABA #021000018

Credit A/C# GLA111566

A/C Name: Institutional Custody Insurance Division

Custody Account Name: Aviva Life and Annuity Co-Annuity

Custody Account Number: 010048
	 

	 	Reference:
	 	NRP (Operating) LLC, 5.03% Senior Notes, Series I, due December 1, 2026
	 

	 	 	 	PPN 62963# AJ0, and Application (as among principal, make-whole and
interest) of the payment being made.

Notices

All notices and communications, including Financials, Compliance and Requests to be addressed:

Preferred Remittance: privateplacements@avivainvestors.com

Aviva Life and Annuity Company

c/o Aviva Investors North America, Inc.

Attention: Private Fixed Income Dept.

215 10th Street, Suite 1000

Des Moines, IA 50309

Name of Nominee in which Notes are to be issued: HARE & CO.

Taxpayer I.D. Number for Aviva Life and Annuity Company: 42-0175020

Taxpayer I.D. Number for Hare & Co.: 13-6062916

A-35

 

Deliver Notes to:

The Bank of New York

One Wall Street, 3rd Floor

Window A

New York, New York 10286

FAO: Aviva Life and Annuity Co-Annuity, A/C #010048

A-36

 

	 	 	 	 	 	 	 	 	 
	 	 	Series of	 	Principal 
	 	 	Notes to be 	 	Amount of Notes 
	Name and Address of Purchaser	 	Purchased	 	to be Purchased
	Royal Neighbors of America
	 	 	I	 	 	 	$1,700,000	 
	c/o Aviva Investors North America, Inc.
	 	 	 	 	 	 	 	 
	215 10th Street, Suite 1000
	 	 	 	 	 	 	 	 
	Des Moines, IA 50309
	 	 	 	 	 	 	 	 

Payments

All payments on or in respect of the Notes to be by bank wire transfer of Federal or other
immediately available funds to:

	 	 	 	 	 

	 	 	Northern Chgo/Trust
	 	 	ABA #071000152
	 	 	Credit wire account 5186041000
	 	 	F/C 26-73769/Royal Neighbors
	 	 	Attn: INC/DIV
	 

	 	Reference:
	 	NRP (Operating) LLC, 5.03% Senior Notes, Series I, due December 1, 2026
	 

	 	 	 	PPN 62963# AJ0, and Application (as among principal, make-whole and
interest) of the payment being made.

Notices

All notices related to payments to be addressed:

Preferred Remittance:

Ell & Co, c/o Northern Trust Co.

PO Box 92395, Chicago, IL 60675

With copy to:

Preferred Remittance: privateplacements@avivainvestors.com

Royal Neighbors of America

c/o Aviva Investors North America, Inc.

Attention: Private Fixed Income

215 10th Street, Suite 1000

Des Moines, IA 50309

A-37

 

All other notices and communications, including Financials, Compliance and Requests to be
addressed:

Preferred Remittance: privateplacements@avivainvestors.com

Royal Neighbors of America

c/o Aviva Investors North America, Inc.

Attention: Private Fixed Income

215 10th Street, Suite 1000

Des Moines, IA 50309

Name of Nominee in which Notes are to be issued: ELL & CO

Taxpayer I.D. Number for Royal Neighbors of America: 36-1711198

Taxpayer I.D. Number for Ell & Co: 36-6412623

Deliver Notes to:

Northern Trust Co NY

Harborside Financial Center Co

Suite 1401

3 Second Street

Jersey City, NJ 07311

Ref: 26-73769/Royal Neighbors

A-38

 

	 	 	 	 	 	 	 	 	 
	 	 	Series of	 	Principal 
	 	 	Notes to be 	 	Amount of Notes 
	Name and Address of Purchaser	 	Purchased	 	to be Purchased
	Protective Life Insurance Company
	 	 	I	 	 	 	$6,000,000	 
	2801 Hwy. 280 South
	 	 	K	 	 	 	$6,000,000	 
	Birmingham, Alabama 35223-2488
	 	 	 	 	 	 	 	 
	Attention: Investment Department — Jared Wingard
	 	 	 	 	 	 	 	 

Payments

All payments on or in respect of the Notes to be by bank wire transfer of Federal or other
immediately available funds (identifying each payment as “NRP (Operating) LLC, 5.03% Senior Notes,
Series I, December 1, 2026, PPN 62963# AJ0” and/or “5.18% Senior Notes, Series K, December 1, 2026,
PPN 62963# AL5,” principal, premium or interest) to:

The Bank of New York

ABA #021000018

BNF: IOC566

ATTN: PP P&I Department

FFC Cust. Acct #0000294412

CUST. NAME: Protective Life Ins., Co

REF: Protective Life Ins., Co. / PPN

with sufficient information to identify the source and application of such funds

Notices

All notices with respect to payments and written confirmations of such wire transfers, to be
addressed:

Back.office@protective.com

Protective Life Insurance Co. (PLI)

2801 Hwy. 280 South

Birmingham, AL 35233

Attn: Investment Department — Kim Wilkerson

All other notices and communications to be addressed as first provided above.

Name of Nominee in which Notes are to be issued: HARE & CO.

Taxpayer I.D. Number: 63-0169720

A-39

 

Deliver Notes to:

The Bank of New York

One Wall Street

3rd Floor, Window A

New York, NY 10286

Custody A/C #294412

Cust Name: Protective Life Insurance Company

A-40

 

	 	 	 	 	 	 	 	 	 
	 	 	Series of	 	Principal 
	 	 	Notes to be 	 	Amount of Notes 
	Name and Address of Purchaser	 	Purchased	 	to be Purchased
	Western-Southern Life Assurance Company
	 	 	H	 	 	 	$7,000,000	 
	c/o Fort Washington Investment Advisors
	 	 	 	 	 	 	 	 
	Suite 1200-Private Placements
	 	 	 	 	 	 	 	 
	303 Broadway
	 	 	 	 	 	 	 	 
	Cincinnati, OH 45202
	 	 	 	 	 	 	 	 

Payments

All payments on account of the Notes held by such purchaser shall be made by wire transfer of
immediately available funds to:

The Bank of New York Mellon

ABA #021000018

BNF: IOC566

Attn: PP P&I Department

Ref: Bank #952623 / PPN 62963# AH4, NRP (Operating) LLC, 4.73% Senior Notes, Series H, due December 1, 2023

Notices

All notices with respect to payments and written confirmation of each such payment, to be
addressed:

Western-Southern Life Assurance Company

400 Broadway, Mail Station 80

Cincinnati, OH 45202

invacctg@wslife.com

All other notices and communications to be addressed as first provided above, with a copy sent
electronically to: privateplacements@fortwashington.com.

Name of Nominee in which Notes are to be issued: Hare & Co.

Taxpayer I.D. Number: 13-6062616

A-41

 

Deliver Notes to:

The Bank of New York Mellon

One Wall Street

3rd Floor, Window A

New York, NY 10286

Attn: Ada Casiano (212) 635-9121

Ref: A/C #952623 Western-Southern Life Assurance Company

A-42

 

	 	 	 	 	 	 	 	 	 
	 	 	Series of	 	Principal 
	 	 	Notes to be 	 	Amount of Notes 
	Name and Address of Purchaser	 	Purchased	 	to be Purchased
	National Integrity Life Insurance Company
	 	 	H	 	 	 	$2,000,000	 
	c/o Fort Washington Investment Advisors
	 	 	 	 	 	 	 	 
	Suite 1200-Private Placements
	 	 	 	 	 	 	 	 
	303 Broadway
	 	 	 	 	 	 	 	 
	Cincinnati, OH 45202
	 	 	 	 	 	 	 	 

Payments

All payments on account of the Notes held by such purchaser shall be made by wire transfer of
immediately available funds to:

The Bank of New York Mellon

ABA #021 000 018

BNF: IOC566

Attn: PP P&I Department

Ref: Bank #952709 / PPN 62963# AH4, NRP (Operating) LLC, 4.73% Senior Notes, Series H, due December 1, 2023

Notices

All notices with respect to payments and written confirmation of each such payment, to be
addressed:

National Integrity Life Insurance Company

400 Broadway, Mail Station 80

Cincinnati, OH 45202

invacctg@wslife.com

All other notices and communications to be addressed as first provided above, with a copy sent
electronically to: privateplacements@fortwashington.com.

Name of Nominee in which Notes are to be issued: Hare & Co.

Taxpayer I.D. Number: 13-6062616

A-43

 

Deliver Notes to:

The Bank of New York Mellon

One Wall Street

3rd Floor, Window A

New York, NY 10286

Attn: Ada Casiano (212) 635-9121

Ref: A/C #952709 National Integrity Life Insurance Company

A-44

 

	 	 	 	 	 	 	 	 	 
	 	 	Series of	 	Principal 
	 	 	Notes to be 	 	Amount of Notes 
	Name and Address of Purchaser	 	Purchased	 	to be Purchased
	The Lafayette Life Insurance Company
	 	 	H	 	 	 	$1,000,000	 
	c/o Fort Washington Investment Advisors
	 	 	 	 	 	 	 	 
	Suite 1200-Private Placements
	 	 	 	 	 	 	 	 
	303 Broadway
	 	 	 	 	 	 	 	 
	Cincinnati, OH 45202
	 	 	 	 	 	 	 	 

Payments

All payments on account of the Notes held by such purchaser shall be made by wire transfer of
immediately available funds to:

JPMorgan Chase Bank, Indianapolis, IN

ABA #021000021

Account #631557105

Acct Name: The Lafayette Life Insurance Company

Ref: PPN 62963# AH4, NRP (Operating) LLC, 4.73% Senior Notes, Series H, due December 1, 2023

Notices

All notices with respect to payments and written confirmation of each such payment, to be
addressed:

The Lafayette Life Insurance Company

Attn: Tracy Gaylor

1905 Teal Road

PO Box 7007

Lafayette, IN 47905

tracy.gaylor@lafayete.life.com

All other notices and communications to be addressed as first provided above, with a copy sent
electronically to: privateplacements@fortwashington.com.

Name of Nominee in which Notes are to be issued: None

Taxpayer I.D. Number: 35-0457540

A-45

 

Deliver Notes to:

The Lafayette Life Insurance Company

1905 Teal Road

Lafayette, IN 47905

Attn: Tracy Gaylor

A-46

 

	 	 	 	 	 	 	 
	 	 	Series of	 	Principal 
	 	 	Notes to be 	 	Amount of Notes 
	Name and Address of Purchaser	 	Purchased	 	to be Purchased
	United of Omaha Life Insurance
	 	I	 	 	$7,000,000	 
	Company
	 	J	 	 	$2,000,000	 
	Mutual of Omaha Plaza
Omaha, Nebraska 68175-1011

Attention: 4-Investment Accounting
	 	 	 	 	 	 

Payments

All principal and interest payments on or in respect of the Notes shall be made by wire transfer of
immediately available funds to:

JPMorgan Chase Bank

ABA #021000021

Private Income Processing

For credit to: United of Omaha Life Insurance Company

Account Number 900-9000200

a/c: G07097

PPN 62963# AJ0, NRP (Operating) LLC, 5.03% Senior Notes, Series I, due December 1, 2026

Interest Amount:                                                             

Principal Amount:                                                             

Notices

All notices of payments of principal and interest, on or in respect of the Notes and written
confirmation of each such payment, corporate actions and reorganization notifications to:

JPMorgan Chase Bank

14201 Dallas Parkway, 13th Floor

Dallas, Texas 75254-2917

Attention: Income Processing — G. Ruiz

a/c: G07097

All other notices and communications (i.e., quarterly/annual reports, tax filings, modifications,
waivers regarding the indenture) to be addressed as first provided above.

Name of Nominee in which Notes are to be issued: None

Taxpayer I.D. Number: 47-0322111

A-47

 

Physical Delivery Instructions:

JPMorgan Chase Bank

4 Chase Metrotech Center, 3rd Floor

Brooklyn, New York 11245-0001

Attention: Physical Receive Department

For Account Number G07097

A-48

 

	 	 	 	 	 	 	 
	 	 	Series of	 	Principal 
	 	 	Notes to be 	 	Amount of Notes 
	Name and Address of Purchaser	 	Purchased	 	to be Purchased
	Companion Life Insurance Company
	 	I	 	 	$1,000,000	 
	c/o Mutual of Omaha Insurance Company

Mutual of Omaha Plaza

Omaha, Nebraska 68175-1011

Attention: 4 — Investment Accounting
	 	 	 	 	 	 

Payments

All payments on or in respect of the Notes to be by bank wire transfer of Federal or other
immediately available funds to:

JPMorgan Chase Bank

ABA #021000021

Private Income Processing

for credit to: Companion Life Insurance Company

Account Number 900-9000200

a/c: G07903

PPN 62963# AJ0, NRP (Operating) LLC, 5.03% Senior Notes, Series I, due December 1, 2026

Interest Amount:                                        

Principal Amount:                                        

Notices

All notices of payments, on or in respect of the Notes and written confirmation of each such
payment, corporate actions and reorganization notifications to:

JPMorgan Chase Bank

14201 Dallas Parkway — 13th Floor

Dallas, TX 75254-2917

Attention: Income Processing — G. Ruiz

a/c: G07903

All other notices and communications (i.e., quarterly/annual reports, tax filings, modifications,
waivers regarding the indenture) to be addressed as first provided above.

Name of Nominee in which Notes are issued: None

Taxpayer I.D. Number: 13-1595128

A-49

 

Physical Delivery Instructions:

JPMorgan Chase Bank

4 Chase Metrotech Center, 3rd Floor

Brooklyn, New York 11245-0001

Attention: Physical Receive Department

For Account Number G07903

A-50

 

	 	 	 	 	 	 	 
	 	 	Series of	 	Principal 
	 	 	Notes to be 	 	Amount of Notes 
	Name and Address of Purchaser	 	Purchased	 	to be Purchased
	Phoenix Life Insurance Company
	 	I	 	 	$5,000,000	 
	c/o Goodwin Capital Advisers

Private Placement Department, H-GW-1

One American Row

Hartford, Connecticut 06102

	 	 	 	 	 	 

Payments

All payments on or in respect of the Notes to be by bank wire transfer of Federal or other
immediately available funds to:

ABA #021 000 021

JP Morgan Chase

New York, New York

Account Number: 900 9000 200

Account Name: Income Processing

Reference: Phoenix Life Insurance, G05123, NRP (Operating) LLC

Notices

All notices and communications, including notices with respect to payments and written confirmation
of each such payment, to be addressed as first provided above. All legal notices should be
addressed:

Phoenix Life Insurance Company

Attention: Brad Buck

One American Row

Hartford, Connecticut 06102

Name of Nominee in which Notes are to be issued: None

Taxpayer I.D. Number: 06-0493340

Deliver Notes to:

Phoenix Life Insurance Company

One American Row

Hartford, CT 06102

Attn: Brad Buck, Esq.

Phone: (860) 403-5610

A-51

 

	 	 	 	 	 	 	 
	 	 	Series of	 	Principal 
	 	 	Notes to be 	 	Amount of Notes 
	Name and Address of Purchaser	 	Purchased	 	to be Purchased
	PHL Variable Insurance Company
	 	J	 	 	$2,000,000	 
	c/o Goodwin Capital Advisers

Private Placement Department, H-GW-1

One American Row

Hartford, Connecticut 06102
	 	 	 	 	 	 

Payments

All payments on or in respect of the Notes to be by bank wire transfer of Federal or other
immediately available funds to:

ABA #021 000 021

JP Morgan Chase

New York, New York

Account Number: 900 9000 200

Account Name: Income Processing

Reference: Phoenix Variable, G09389, NRP (Operating) LLC

Notices

All notices and communications, including notices with respect to payments and written confirmation
of each such payment, to be addressed as first provided above. All legal notices should be
addressed:

Phoenix Life Insurance Company

Attention: Brad Buck

One American Row

Hartford, Connecticut 06102

Name of Nominee in which Notes are to be issued: None

Taxpayer I.D. Number: 06-1045829

Deliver Notes to:

Phoenix Life Insurance Company

One American Row

Hartford, CT 06102

Attn: Brad Buck, Esq.

Phone: (860) 403-5610

A-52

 

	 	 	 	 	 	 	 
	 	 	Series of	 	Principal 
	 	 	Notes to be 	 	Amount of Notes 
	Name and Address of Purchaser	 	Purchased	 	to be Purchased
	PHL Variable Insurance Company
	 	K	 	 	$3,000,000	 
	c/o Goodwin Capital Advisers

Private Placement Department, H-GW-1

One American Row

Hartford, Connecticut 06102
	 	 	 	 	 	 

Payments

All payments on or in respect of the Notes to be by bank wire transfer of Federal or other
immediately available funds to:

ABA #021 000 021

JP Morgan Chase

New York, New York

Account Number: 900 9000 200

Account Name: Income Processing

Reference: Phoenix Variable, G11923, NRP (Operating) LLC

Notices

All notices and communications, including notices with respect to payments and written confirmation
of each such payment, to be addressed as first provided above. All legal notices should be
addressed:

Phoenix Life Insurance Company

Attention: Brad Buck

One American Row

Hartford, Connecticut 06102

Name of Nominee in which Notes are to be issued: None

Taxpayer I.D. Number: 06-1045829

Deliver Notes to:

Phoenix Life Insurance Company

One American Row

Hartford, CT 06102

Attn: Brad Buck, Esq.

Phone: (860) 403-5610

A-53

 

	 	 	 	 	 	 	 
	 	 	Series of	 	Principal 
	 	 	Notes to be 	 	Amount of Notes 
	Name and Address of Purchaser	 	Purchased	 	to be Purchased
	Ohio National Life Assurance Corporation
	 	I	 	 	$5,000,000	 
	P. O. Box 237

Cincinnati, Ohio 45201

Attention: Investment Department

Fax Number: (513) 794-4506

Overnight Delivery Address:

One Financial Way

Cincinnati, Ohio 45242

Attention: Investment Department
	 	 	 	 	 	 

Payments

All payments on or in respect of the Notes to be by bank wire transfer of Federal or other
immediately available funds (identifying each payment as “NRP (Operating) LLC, 5.03% Senior Notes,
Series I, December 1, 2026, PPN 62963# AJ0, principal, premium or interest”) to:

U.S. Bank N.A. (ABA #042-0000-13)

5th and Walnut Streets

Cincinnati, Ohio 45202

for credit to: Ohio National Life Assurance Corporation

Account Number 865-215-8

Notices

All notices and communications, including notices with respect to payments and written confirmation
of each such payment, to be addressed as first provided above.

Name of Nominee in which Notes are to be issued: None

Taxpayer I.D. Number: 31-0962495

Deliver Notes to:

The Ohio National Life Insurance Company

One Financial Way

Cincinnati, OH 45242

Attn: Jed R. Martin (513) 794-6381

A-54

 

	 	 	 	 	 	 	 
	 	 	Series of	 	Principal 
	 	 	Notes to be 	 	Amount of Notes 
	Name and Address of Purchaser	 	Purchased	 	to be Purchased
	The Ohio National Life Insurance Company
	 	J	 	 	$2,000,000	 
	P. O. Box 237

Cincinnati, Ohio 45201

Attention: Investment Department

Fax Number: (513) 794-4506

Overnight Delivery Address:

One Financial Way

Cincinnati, Ohio 45242

Attention: Investment Department
	 	 	 	 	 	 

Payments

All payments on or in respect of the Notes to be by bank wire transfer of Federal or other
immediately available funds (identifying each payment as “NRP (Operating) LLC, 5.03% Senior Notes,
Series J, December 1, 2026, PPN 62963# AK7, principal, premium or interest”) to:

U.S. Bank N.A. (ABA #042-000013)

5th and Walnut Streets

Cincinnati, Ohio 45202

for credit to: The Ohio National Life Insurance Company

Account Number: 910-275-7

Notices

All notices and communications, including notices with respect to payments and written confirmation
of each such payment, to be addressed as first provided above.

Name of Nominee in which Notes are to be issued: None

Taxpayer I.D. Number: 31-0397080

Deliver Notes to:

The Ohio National Life Insurance Company

One Financial Way

Cincinnati, OH 45242

Attn: Jed R. Martin (513) 794-6381

A-55

 

	 	 	 	 	 	 	 
	 	 	Series of	 	Principal 
	 	 	Notes to be 	 	Amount of Notes 
	Name and Address of Purchaser	 	Purchased	 	to be Purchased
	Assurity Life Insurance Company
	 	J	 	 	$3,000,000	 
	1526 K Street

P.O. Box 82533

Lincoln, NE 68501-2533
	 	 	 	 	 	 

Payments

All payments on account of the Note shall be made by crediting in the form of bank wire transfer of
Federal or other immediately available funds to:

US Bank National Association

13th and M Streets

Lincoln, NE 68508

ABA #104000029

Account of: Assurity Life Insurance Company

General Fund Account: 1-494-0092-9092

Each such wire transfer shall set forth the name of the issuer, the full title of the Notes
(including the rate and final redemption to maturity date) and application of such funds
among principle, premium and interest, if applicable.

Notices

All notices with respect to payments and written confirmation of each such payment, to be
addressed:

Assurity Life Insurance Company

1526 K Street

Lincoln, NE 68508

Attn: Investment Division

Fax: (402) 458-2170

Phone: (402) 437-3682

All other notices and communications to be addressed as first provided above.

Name of Nominee in which Notes are to be issued: None

Taxpayer I.D. Number: 38-1843471

A-56

 

Deliver Notes to:

Assurity Life Insurance Company

1526 K Street

Lincoln, NE 68508

Attention: Victor Weber

A-57

 

	 	 	 	 	 	 	 
	 	 	Series of	 	Principal 
	 	 	Notes to be 	 	Amount of Notes 
	Name and Address of Purchaser	 	Purchased	 	to be Purchased
	Senior Health Insurance Company of Pennsylvania
	 	I	 	 	$2,000,000	 
	 

c/o Conning, Inc.

One Financial Plaza

Hartford, Connecticut 06103-2627
	 	 	 	 	 	 

Payments

All payments to be made by crediting (in the form of federal funds bank wire transfer, with
sufficient information to identify the source and application of funds) the following account:

Senior Health Insurance Company of Pennsylvania

The Bank of New York

ABA #021000018

Beneficiary: GLA111566

Attn: PP P&I Dept.

Ref: Acct #005068-Senior Health Insurance Company of Pennsylvania;

PPN 62963# AJ0, NRP (Operating) LLC, 5.03% Senior Notes, Series I, due December 1, 2026 AND Breakdown (principal/income) __________

Notices

All notices and communication should be directed to:

Senior Health Insurance Company of Pennsylvania

c/o Conning, Inc.

One Financial Plaza, 14th Floor

Hartford, Connecticut 06103-2627

Attn: Samuel O. Otchere

Phone: 860-299-2262

Facsimile: 860-299-0262

Email: Samuel.Otchere@Conning.com

With a copy of all notices and communication directed to:

Senior Health Insurance Company of Pennsylvania

c/o Conning, Inc.

One Financial Plaza, 13th Floor

Hartford, Connecticut 06103-2627

Attention: Private Placement Unit

Phone: 860-299-2173

A-58

 

Facsimile: 860-299-2442

Email: Conning.Documents@Conning.com

All legal notices and documentation should be directed to:

Senior Health Insurance Company of Pennsylvania

c/o Conning, Inc.

One Financial Plaza, 13th Floor

Hartford, Connecticut 06103-2627

Attention: Vi R. Smalley

Phone: 860-299-2054

Facsimile: 860-299-0054

Email: Vi.Smalley@Conning.com

Name of Nominee in which Notes are to be issued: HARE & CO.

Taxpayer I.D. Number: 23-0704970

Deliver Notes to:

Senior Health Insurance Company of Pennsylvania

c/o Conning, Inc.

One Financial Plaza, 13th Floor

Hartford, Connecticut 06103-2627

Attention: Vi R. Smalley

Phone: 860-299-2054

Facsimile: 860-299-0054

Email: Vi.Smalley@Conning.com

A-59

 

	 	 	 	 	 	 	 
	 	 	Series of	 	Principal 
	 	 	Notes to be 	 	Amount of Notes 
	Name and Address of Purchaser	 	Purchased	 	to be Purchased
	Homesteaders Life Company
	 	I	 	 	$1,000,000	 
	5700 Westown Parkway

West Des Moines, IA 50266

Attention: Investment Department

Phone: (515) 440-7711

Fax: (515) 440-7692
	 	 	 	 	 	 

Payments

All payments on or in respect of the Notes to be made by Fed wire transfer of immediately available
funds (identifying each payment with name of the Issuer (and the Credit, if any), the Private
Placement Number preceded by “DPP” and the payment as principal, interest or premium”) in the
format as follows:

	 	 	 	 	 	 	 

	 

	 	Bank:
	 	=
	 	Wells Fargo Bank, N.A.
	 

	 	ABA#:
	 	 	 	121000248 
	 

	 	Account
	 	=
	 	Trust Wire Clearing

BAN: 0000840245
	 
	 

	 	OBI
	 	=
	 	FFC: 20973800 Homesteaders Life Company

NRP (Operating) LLC, 5.03% Senior Notes, Series I,

due 2026

DPP — PPN 62963# AJ0

Payment Due Date (MM/DD/YY)

P ______ (enter “P” and the amount of principal being remitted,

for example, P50000000.00) —

I ______ (enter “I” and the amount of interest being remitted,

for example, I225000.00)

Notices

All notices of scheduled payments and written confirmation of each such payment, to be addressed:

Homesteaders Life Company

Deb Fisher

5700 Westown Parkway

West Des Moines, IA 50266

Phone: (515) 440-7851

Fax: (515) 440-7692

A-60

 

All financial reports, compliance certificates and all other written communications, including
notice of prepayments to be addressed as first provided above.

Name of Nominee in which Notes are to be issued: EMSEG&CO for benefit of: Homesteaders Life
Company

Taxpayer I.D. Number: 42-0316600

Deliver Notes to:

Homesteaders Life Company

5700 Westown Parkway

West Des Moines, IA 50266

Attention: Kevin Kubik, Investments

Phone: (515) 440-7711

A-61

 

Supplemental Representations

     The Company represents and warrants to each Purchaser that except as hereinafter set forth in
this Exhibit A, each of the representations and warranties set forth in Section 5 of the Note
Purchase Agreements is true and correct as of the date hereof and as of the date of each Closing
with respect to the 2011 Notes with the same force and effect as if each reference to “Series A, B
or C Notes” set forth therein was modified to refer to the “Series H, I, J and K Notes” and each
reference to “this Agreement” therein was modified to refer to the Note Purchase Agreements as
supplemented by the First Supplement dated July 19, 2005, by the Second Supplement dated as March
28, 2007, the Third Supplement dated as of March 25, 2009 and by the Fourth Supplement. The
Section references hereinafter set forth correspond to the similar sections of the Note Purchase
Agreements which are supplemented hereby:

     Section 5.3. Disclosure. The Company, through its agent, Citigroup Global Markets Inc., has
delivered to each Purchaser a copy of a Confidential Offering Memorandum dated March 2011 (the
“Memorandum”), relating to the transactions contemplated by the Fourth Supplement. The Note
Purchase Agreements, the Memorandum, the documents, certificates or other writings delivered to
each Purchaser by or on behalf of the Company in connection with the transactions contemplated by
the Note Purchase Agreements and the Fourth Supplement and the financial statements listed in
Schedule 5.5 to the Fourth Supplement, taken as a whole, do not contain any untrue statement of a
material fact or omit to state any material fact necessary to make the statements therein not
misleading in light of the circumstances under which they were made. Since December 31, 2010,
there has been no change in the financial condition, operations, business, properties or
prospects of the Company or any Subsidiary except changes that individually or in the aggregate
could not reasonably be expected to have a Material Adverse Effect.

     Section 5.4. Organization and Ownership of Shares of Subsidiaries. (a) Schedule 5.4 to the
Fourth Supplement contains (except as noted therein) complete and correct lists of the
Subsidiaries, showing, as to each Subsidiary, the correct name thereof, the jurisdiction of its
organization, and the percentage of shares of each class of its capital stock or similar equity
interests outstanding owned by the Company and each other Subsidiary.

     Section 5.13. Private Offering by the Company. Neither the Company nor anyone acting on its
behalf has offered the 2011 Notes or any similar securities for sale to, or solicited any offer to
buy any of the same from, or otherwise approached or negotiated in respect thereof with, any Person
other than the Purchasers and not more than 60 other Institutional Investors, each of which has
been offered the 2011 Notes at a private sale for investment. Neither the Company nor anyone
acting on its behalf has taken, or will take, any action that would subject the issuance or sale of
the Notes to the registration requirements of Section 5 of the Securities Act.

     Section 5.14. Use of Proceeds; Margin Regulations. The Company will apply the proceeds of the
sale of the 2011 Notes as set forth in Section 1 of the Memorandum under the sub-heading
“Description of Offering”. No part of the proceeds from the sale of the 2011 Notes pursuant to the
Fourth Supplement will be used, directly or indirectly, for the purpose of buying or carrying any
margin stock within the meaning of Regulation U of the Board of Governors of

Exhibit A

(to Supplement)

 

 

the Federal Reserve System (12 CFR 222), or for the purpose of buying or carrying or trading in any
securities under such circumstances as to involve the Company in a violation of Regulation X of
said Board (12 CFR 224) or to involve any broker or dealer in a violation of Regulation T of said
Board (12 CFR 220). Margin stock does not constitute more than 1.00% of the value of the
consolidated assets of the Company and its Subsidiaries and the Company does not have any present
intention that margin stock will constitute more than 1.00% of the value of such assets. As used
in this Section, the terms “margin stock” and “purpose of buying or carrying” shall have the
meanings assigned to them in said Regulation U.

     Section 5.15. Existing Debt; Future Liens. (a) Schedule 5.15 to the Fourth Supplement sets
forth a complete and correct list of all outstanding Debt of the Company and the Subsidiaries as of
March 1, 2011, since which date there has been no Material change in the amounts, interest rates,
sinking funds, installment payments or maturities of the Debt of the Company or the Subsidiaries.
Neither the Company nor any Subsidiary is in default and no waiver of default is currently in
effect, in the payment of any principal or interest on any Debt of the Company or such Subsidiary
and no event or condition exists with respect to any Debt of the Company or any Subsidiary that
would permit (or that with notice or the lapse of time, or both, would permit) one or more Persons
to cause such Debt to become due and payable before its stated maturity or before its regularly
scheduled dates of payment.

     Section 5.16. Foreign Assets Control Regulations, Etc. (a) Neither the Company nor any
Affiliated Entity is (i) a Person whose name appears on the list of Specially Designated Nationals
and Blocked Persons published by the Office of Foreign Assets Control of the U.S. Department of
Treasury (“OFAC”) (an “OFAC Listed Person”) or (ii) a department, agency or instrumentality of, or
is otherwise controlled by or acting on behalf of, directly or indirectly, (x) any OFAC Listed
Person or (y) the government of a country subject to comprehensive U.S. economic sanctions
administered by OFAC, currently Iran, Sudan, Cuba, Burma, Syria and North Korea (each OFAC Listed
Person and each other entity described in clause (ii), a “Blocked Person”).

     (b) No part of the proceeds from the sale of the 2011 Notes hereunder constitutes or will
constitute funds obtained on behalf of any Blocked Person or will otherwise be used, directly by
the Company or indirectly through any Affiliated Entity, in connection with any investment in, or
any transactions or dealings with, any Blocked Person.

     (c) To the Company’s actual knowledge after making due inquiry, neither the Company nor any
Affiliated Entity (i) is under investigation by any Governmental Authority for, or has been charged
with, or convicted of, money laundering, drug trafficking, terrorist-related activities or other
money laundering predicate crimes under any applicable law (collectively, “Anti-Money Laundering
Laws”), (ii) has been assessed civil penalties under Anti-Money Laundering Laws or (iii) has had
any of its funds seized or forfeited in an action under any Anti-Money Laundering Laws. The
Company has taken reasonable measures appropriate to the circumstances (in any event as required by
applicable law), to ensure that the Company and each Affiliated Entity is and will continue to be
in compliance with all applicable current and future Anti-Money Laundering Laws.

A-2

(to Supplement)

 

     (d) No part of the proceeds from the sale of the 2011 Notes hereunder will be used, directly
or indirectly, for any improper payments to any governmental official or employee, political party,
official of a political party, candidate for political office, official of any public international
organization or anyone else acting in an official capacity, in order to obtain, retain or direct
business or obtain any improper advance. The Company has taken reasonable measures appropriate to
the circumstances (in any event as required by applicable law), to ensure that the Company and each
Affiliated Entity is and will continue to be in compliance with all applicable current and future
anti-corruption laws and regulations.

A-3

(to Supplement)

 

[Form of Series H Note]

NRP (Operating) LLC

4.73% Senior Note, Series H, Due December 1, 2023

			
	 	 	 
	No. RH— [_____]
	 	[Date]
	$[____________]
	 	PPN 62963# AH4

     For Value Received, the undersigned, NRP (Operating) LLC (herein called the
“Company”), a limited liability company organized and existing under the laws of the State of
Delaware, hereby promises to pay to [________________], or registered assigns, the principal sum of
[________________] Dollars on December 1, 2023, with interest (computed on the basis of a
360-day year of twelve 30-day months) (a) on the unpaid balance thereof at the rate of 4.73% per
annum from the date hereof, payable semi-annually, on the 1st day of June and December in each
year, commencing with the June or December next succeeding the date hereof (except that the first
interest payment hereon after the date of initial issuance hereof shall be December 1, 2011), until
the principal hereof shall have become due and payable, and (b) to the extent permitted by law on
any overdue payment (including any overdue prepayment) of principal, any overdue payment of
interest and any overdue payment of any Make-Whole Amount (as defined in the Supplement referred to
below), payable semi-annually, as aforesaid (or, at the option of the registered holder hereof, on
demand), at a rate per annum from time to time equal to the greater of (i) 6.73% or (ii) 2% over
the rate of interest publicly announced by Citibank, N.A. from time to time in New York, New York
as its “base” or “prime” rate.

     Payments of principal of, interest on and any Make-Whole Amount with respect to this Note are
to be made in lawful money of the United States of America at Citibank, N.A. or at such other place
as the Company shall have designated by written notice to the holder of this Note as provided in
the Note Purchase Agreements.

     This Note is one of a series of Senior Notes (herein called the “Notes”) issued pursuant to
that certain Fourth Supplement dated as of April 20, 2011 (as from time to time amended and
supplemented, the “Supplement”) to Note Purchase Agreements, dated as of June 19, 2003, as from
time to time amended and supplemented, between the Company and the respective Purchasers named
therein and is entitled to the benefits thereof. Each holder of this Note will be deemed, by its
acceptance hereof, (i) to have agreed to the confidentiality provisions set forth in Section 20 of
the Note Purchase Agreements and (ii) to have made the representation set forth in Section 14(b) of
the Supplement.

     This Note is a registered Note and, as provided in the Note Purchase Agreements, upon
surrender of this Note for registration of transfer, duly endorsed, or accompanied by a written
instrument of transfer duly executed, by the registered holder hereof or such holder’s attorney
duly authorized in writing, a new Note for a like principal amount will be issued to, and
registered in the name of, the transferee. Prior to due presentment for registration of transfer,
the Company may treat the person in whose name this Note is registered as the owner hereof for the

Exhibit 1-A

(to Supplement)

 

 

purpose of receiving payment and for all other purposes, and the Company will not be affected
by any notice to the contrary.

     The Company will make required prepayments of principal on the dates and in the amounts
specified in the Supplement. This Note is also subject to optional prepayment, in whole or from
time to time in part, at the times and on the terms specified in the Supplement, but not otherwise.

     If an Event of Default, as defined in the Note Purchase Agreements, occurs and is continuing,
the principal of this Note may be declared or otherwise become due and payable in the manner, at
the price (including any applicable Make-Whole Amount (as defined in the Supplement)) and with the
effect provided in the Note Purchase Agreements.

     This Note is guaranteed pursuant to the Subsidiary Guarantee dated June 19, 2003 as, from time
to time, supplemented and amended.

     This Note shall be construed and enforced in accordance with, and the rights of the Company
and the holder of this Note shall be governed by, the law of the State of New York excluding
choice-of-law principles of law of such State that would require the application of the laws of a
jurisdiction other than such State.

	 	 	 	 	 
	 	NRP (Operating) LLC

 	 
	 	By  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

1-A-2

(to Supplement)

 

 

[Form of Series I Note]

NRP (Operating) LLC

5.03% Senior Note, Series I, Due December 1, 2026

			
	 	 	 
	No. RI— [_____]

$[____________]
	 	[Date]

PPN 62963# AJ0

     For Value Received, the undersigned, NRP (Operating) LLC (herein called the
“Company”), a limited liability company organized and existing under the laws of the State of
Delaware, hereby promises to pay to [________________], or registered assigns, the principal sum of
[________________] Dollars on December 1, 2026, with interest (computed on the basis of a
360-day year of twelve 30-day months) (a) on the unpaid balance thereof at the rate of 5.03% per
annum from the date hereof, payable semi-annually, on the 1st day of June and December in
each year, commencing with the June or December next succeeding the date hereof (except that the
first interest payment hereon after the date of initial issuance hereof shall be December 1, 2011),
until the principal hereof shall have become due and payable, and (b) to the extent permitted by
law on any overdue payment (including any overdue prepayment) of principal, any overdue payment of
interest and any overdue payment of any Make-Whole Amount (as defined in the Supplement referred to
below), payable semi-annually, as aforesaid (or, at the option of the registered holder hereof, on
demand), at a rate per annum from time to time equal to the greater of (i) 7.03% or (ii) 2% over
the rate of interest publicly announced by Citibank, N.A. from time to time in New York, New York
as its “base” or “prime” rate.

     Payments of principal of, interest on and any Make-Whole Amount with respect to this Note are
to be made in lawful money of the United States of America at Citibank, N.A. or at such other place
as the Company shall have designated by written notice to the holder of this Note as provided in
the Note Purchase Agreements.

     This Note is one of a series of Senior Notes (herein called the “Notes”) issued pursuant to
that certain Fourth Supplement dated as of April 20, 2011 (as from time to time amended and
supplemented, the “Supplement”) to Note Purchase Agreements, dated as of June 19, 2003, as from
time to time amended and supplemented, between the Company and the respective Purchasers named
therein and is entitled to the benefits thereof. Each holder of this Note will be deemed, by its
acceptance hereof, (i) to have agreed to the confidentiality provisions set forth in Section 20 of
the Note Purchase Agreements and (ii) to have made the representation set forth in Section 14(b) of
the Supplement.

     This Note is a registered Note and, as provided in the Note Purchase Agreements, upon
surrender of this Note for registration of transfer, duly endorsed, or accompanied by a written
instrument of transfer duly executed, by the registered holder hereof or such holder’s attorney
duly authorized in writing, a new Note for a like principal amount will be issued to, and
registered in the name of, the transferee. Prior to due presentment for registration of transfer,
the Company may treat the person in whose name this Note is registered as the owner hereof for the

Exhibit 1-B

(to Supplement)

 

 

purpose of receiving payment and for all other purposes, and the Company will not be affected
by any notice to the contrary.

     The Company will make required prepayments of principal on the dates and in the amounts
specified in the Supplement. This Note is also subject to optional prepayment, in whole or from
time to time in part, at the times and on the terms specified in the Supplement, but not otherwise.

     If an Event of Default, as defined in the Note Purchase Agreements, occurs and is continuing,
the principal of this Note may be declared or otherwise become due and payable in the manner, at
the price (including any applicable Make-Whole Amount (as defined in the Supplement)) and with the
effect provided in the Note Purchase Agreements.

     This Note is guaranteed pursuant to the Subsidiary Guarantee dated June 19, 2003 as, from time
to time, supplemented and amended.

     This Note shall be construed and enforced in accordance with, and the rights of the Company
and the holder of this Note shall be governed by, the law of the State of New York excluding
choice-of-law principles of law of such State that would require the application of the laws of a
jurisdiction other than such State.

	 	 	 	 	 
	 	NRP (Operating) LLC

 	 
	 	By  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

1-B-2

(to Supplement)

 

 

[Form of Series J Note]

NRP (Operating) LLC

5.03% Senior Note, Series J, Due December 1, 2026

			
	 	 	 
	No. RJ— [_____]

$[____________]
	 	[Date]

PPN 62963# AK7

     For Value Received, the undersigned, NRP (Operating) LLC (herein called the
“Company”), a limited liability company organized and existing under the laws of the State of
Delaware, hereby promises to pay to [________________], or registered assigns, the principal sum of
[________________] Dollars on December 1, 2026, with interest (computed on the basis of a
360-day year of twelve 30-day months) (a) on the unpaid balance thereof at the rate of 5.03% per
annum from the date hereof, payable semi-annually, on the 1st day of June and December in
each year, commencing with the June or December next succeeding the date hereof (except that the
first interest payment hereon after the date of initial issuance hereof shall be December 1, 2011),
until the principal hereof shall have become due and payable, and (b) to the extent permitted by
law on any overdue payment (including any overdue prepayment) of principal, any overdue payment of
interest and any overdue payment of any Make-Whole Amount (as defined in the Supplement referred to
below), payable semi-annually, as aforesaid (or, at the option of the registered holder hereof, on
demand), at a rate per annum from time to time equal to the greater of (i) 7.03% or (ii) 2% over
the rate of interest publicly announced by Citibank, N.A. from time to time in New York, New York
as its “base” or “prime” rate.

     Payments of principal of, interest on and any Make-Whole Amount with respect to this Note are
to be made in lawful money of the United States of America at Citibank, N.A. or at such other place
as the Company shall have designated by written notice to the holder of this Note as provided in
the Note Purchase Agreements.

     This Note is one of a series of Senior Notes (herein called the “Notes”) issued pursuant to
that certain Fourth Supplement dated as of April 20, 2011 (as from time to time amended and
supplemented, the “Supplement”) to Note Purchase Agreements, dated as of June 19, 2003, as from
time to time amended and supplemented, between the Company and the respective Purchasers named
therein and is entitled to the benefits thereof. Each holder of this Note will be deemed, by its
acceptance hereof, (i) to have agreed to the confidentiality provisions set forth in Section 20 of
the Note Purchase Agreements and (ii) to have made the representation set forth in Section 14(b) of
the Supplement.

     This Note is a registered Note and, as provided in the Note Purchase Agreements, upon
surrender of this Note for registration of transfer, duly endorsed, or accompanied by a written
instrument of transfer duly executed, by the registered holder hereof or such holder’s attorney
duly authorized in writing, a new Note for a like principal amount will be issued to, and
registered in the name of, the transferee. Prior to due presentment for registration of transfer,
the Company may treat the person in whose name this Note is registered as the owner hereof for the

Exhibit 1-C

(to Supplement)

 

 

purpose of receiving payment and for all other purposes, and the Company will not be affected
by any notice to the contrary.

     The Company will make required prepayments of principal on the dates and in the amounts
specified in the Supplement. This Note is also subject to optional prepayment, in whole or from
time to time in part, at the times and on the terms specified in the Supplement, but not otherwise.

     If an Event of Default, as defined in the Note Purchase Agreements, occurs and is continuing,
the principal of this Note may be declared or otherwise become due and payable in the manner, at
the price (including any applicable Make-Whole Amount (as defined in the Supplement)) and with the
effect provided in the Note Purchase Agreements.

     This Note is guaranteed pursuant to the Subsidiary Guarantee dated June 19, 2003 as, from time
to time, supplemented and amended.

     This Note shall be construed and enforced in accordance with, and the rights of the Company
and the holder of this Note shall be governed by, the law of the State of New York excluding
choice-of-law principles of law of such State that would require the application of the laws of a
jurisdiction other than such State.

	 	 	 	 	 
	 	NRP (Operating) LLC

 	 
	 	By  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

1-C-2

(to Supplement)

 

 

[Form of Series K Note]

NRP (Operating) LLC

5.18% Senior Note, Series K, Due December 1, 2026

			
	 	 	 
	No. RK— [_____]

$[____________]
	 	[Date]

PPN 62963# AL5

     For Value Received, the undersigned, NRP (Operating) LLC (herein called the
“Company”), a limited liability company organized and existing under the laws of the State of
Delaware, hereby promises to pay to [________________], or registered assigns, the principal sum of
[________________] Dollars on December 1, 2026, with interest (computed on the basis of a
360-day year of twelve 30-day months) (a) on the unpaid balance thereof at the rate of 5.18% per
annum from the date hereof, payable semi-annually, on the 1st day of June and December in
each year, commencing with the June or December next succeeding the date hereof (except that the
first interest payment hereon after the date of initial issuance hereof shall be December 1, 2011),
until the principal hereof shall have become due and payable, and (b) to the extent permitted by
law on any overdue payment (including any overdue prepayment) of principal, any overdue payment of
interest and any overdue payment of any Make-Whole Amount (as defined in the Supplement referred to
below), payable semi-annually, as aforesaid (or, at the option of the registered holder hereof, on
demand), at a rate per annum from time to time equal to the greater of (i) 7.18% or (ii) 2% over
the rate of interest publicly announced by Citibank, N.A. from time to time in New York, New York
as its “base” or “prime” rate.

     Payments of principal of, interest on and any Make-Whole Amount with respect to this Note are
to be made in lawful money of the United States of America at Citibank, N.A. or at such other place
as the Company shall have designated by written notice to the holder of this Note as provided in
the Note Purchase Agreements.

     This Note is one of a series of Senior Notes (herein called the “Notes”) issued pursuant to
that certain Fourth Supplement dated as of April 20, 2011 (as from time to time amended and
supplemented, the “Supplement”) to Note Purchase Agreements, dated as of June 19, 2003, as from
time to time amended and supplemented, between the Company and the respective Purchasers named
therein and is entitled to the benefits thereof. Each holder of this Note will be deemed, by its
acceptance hereof, (i) to have agreed to the confidentiality provisions set forth in Section 20 of
the Note Purchase Agreements and (ii) to have made the representation set forth in Section 14(b) of
the Supplement.

     This Note is a registered Note and, as provided in the Note Purchase Agreements, upon
surrender of this Note for registration of transfer, duly endorsed, or accompanied by a written
instrument of transfer duly executed, by the registered holder hereof or such holder’s attorney
duly authorized in writing, a new Note for a like principal amount will be issued to, and
registered in the name of, the transferee. Prior to due presentment for registration of transfer,
the Company may treat the person in whose name this Note is registered as the owner hereof for the

Exhibit 1-D

(to Supplement)

 

 

purpose of receiving payment and for all other purposes, and the Company will not be affected
by any notice to the contrary.

     The Company will make required prepayments of principal on the dates and in the amounts
specified in the Supplement. This Note is also subject to optional prepayment, in whole or from
time to time in part, at the times and on the terms specified in the Supplement, but not otherwise.

     If an Event of Default, as defined in the Note Purchase Agreements, occurs and is continuing,
the principal of this Note may be declared or otherwise become due and payable in the manner, at
the price (including any applicable Make-Whole Amount (as defined in the Supplement)) and with the
effect provided in the Note Purchase Agreements.

     This Note is guaranteed pursuant to the Subsidiary Guarantee dated June 19, 2003 as, from time
to time, supplemented and amended.

     This Note shall be construed and enforced in accordance with, and the rights of the Company
and the holder of this Note shall be governed by, the law of the State of New York excluding
choice-of-law principles of law of such State that would require the application of the laws of a
jurisdiction other than such State.

	 	 	 	 	 
	 	NRP (Operating) LLC

 	 
	 	By  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

1-D-2

(to Supplement)

 

 

Amortization of 2011 Notes

Series H Notes

	 	 	 	 	 
	Date of Principal Payment	 	Amount of Principal Payment
	December 1, 2014
	 	$	7,500,000.00	 
	December 1, 2015
	 	$	7,500,000.00	 
	December 1, 2016
	 	$	7,500,000.00	 
	December 1, 2017
	 	$	7,500,000.00	 
	December 1, 2018
	 	$	7,500,000.00	 
	December 1, 2019
	 	$	7,500,000.00	 
	December 1, 2020
	 	$	7,500,000.00	 
	December 1, 2021
	 	$	7,500,000.00	 
	December 1, 2022
	 	$	7,500,000.00	 

Series I Notes

	 	 	 	 	 
	Date of Principal Payment	 	Amount of Principal Payment
	December 1, 2014
	 	$	9,615,384.00	 
	December 1, 2015
	 	$	9,615,384.00	 
	December 1, 2016
	 	$	9,615,384.00	 
	December 1, 2017
	 	$	9,615,384.00	 
	December 1, 2018
	 	$	9,615,384.00	 
	December 1, 2019
	 	$	9,615,384.00	 
	December 1, 2020
	 	$	9,615,384.00	 
	December 1, 2021
	 	$	9,615,384.00	 
	December 1, 2022
	 	$	9,615,384.00	 
	December 1, 2023
	 	$	9,615,384.00	 
	December 1, 2024
	 	$	9,615,384.00	 
	December 1, 2025
	 	$	9,615,384.00	 

Schedule 5

(to Supplement)

 

 

Series J Notes

	 	 	 	 	 
	Date of Principal Payment	 	Amount of Principal Payment
	December 1, 2014
	 	$	3,846,153.00	 
	December 1, 2015
	 	$	3,846,153.00	 
	December 1, 2016
	 	$	3,846,153.00	 
	December 1, 2017
	 	$	3,846,153.00	 
	December 1, 2018
	 	$	3,846,153.00	 
	December 1, 2019
	 	$	3,846,153.00	 
	December 1, 2020
	 	$	3,846,153.00	 
	December 1, 2021
	 	$	3,846,153.00	 
	December 1, 2022
	 	$	3,846,153.00	 
	December 1, 2023
	 	$	3,846,153.00	 
	December 1, 2024
	 	$	3,846,153.00	 
	December 1, 2025
	 	$	3,846,153.00	 

Series K Notes

	 	 	 	 	 
	Date of Principal Payment	 	Amount of Principal Payment
	December 1, 2014
	 	$	3,846,153.00	 
	December 1, 2015
	 	$	3,846,153.00	 
	December 1, 2016
	 	$	3,846,153.00	 
	December 1, 2017
	 	$	3,846,153.00	 
	December 1, 2018
	 	$	3,846,153.00	 
	December 1, 2019
	 	$	3,846,153.00	 
	December 1, 2020
	 	$	3,846,153.00	 
	December 1, 2021
	 	$	3,846,153.00	 
	December 1, 2022
	 	$	3,846,153.00	 
	December 1, 2023
	 	$	3,846,153.00	 
	December 1, 2024
	 	$	3,846,153.00	 
	December 1, 2025
	 	$	3,846,153.00	 

Schedule 5-2

(to Supplement)

 

 

Subsidiaries and Affiliates

(i) Subsidiaries of the Company

	 	 	 	 	 	 	 
	 	 	 	 	Ownership by
	Subsidiary	 	Jurisdiction	 	the Company
	WPP LLC
	 	Delaware	 	 	100	%
	ACIN LLC
	 	Delaware	 	 	100	%
	WBRD LLC
	 	Delaware	 	 	100	%
	Hod LLC
	 	Delaware	 	 	100	%
	Shepard Boone Coal Company LLC
	 	Delaware	 	 	100	%
	Williamson Transport, LLC
	 	Delaware	 	 	100	%
	Little River Transport, LLC
	 	Delaware	 	 	100	%
	Independence Land Company, LLC
	 	Delaware	 	 	100	%
	Gatling Mineral, LLC
	 	Delaware	 	 	100	%
	Deepwater Transportation, LLC
	 	Delaware	 	 	100	%
	RiverVista Mining, LLC
	 	Delaware	 	 	100	%
	BRP LLC
	 	Delaware	 	 	100	%
	Coval Leasing Company LLC
	 	Delaware	 	 	100	%

(ii) Affiliates of the Company

Natural Resource Partners L.P.

NRP (GP) LP

GP Natural Resource Partners LLC

Western Pocahontas Properties Limited Partnership

Great Northern Properties Limited Partnership

New Gauley Coal Corporation

Robertson Coal Management LLC

NRP Investment L.P.

Adena Minerals, LLC

(iii) Senior Officers of the Company

	 	 	 	 	 

	Nick Carter

	 	—
	 	President and Chief Operating Officer
	Dwight Dunlap

	 	—
	 	Chief Financial Officer and Treasurer
	Kevin Wall

	 	—
	 	Vice President and Chief Engineer
	Wyatt Hogan

	 	—
	 	Vice President, General Counsel and Secretary
	Kevin Craig

	 	—
	 	Vice President-Business Development

Schedule 5.4

(to Supplement)

 

 

	 	 	 	 	 

	Dennis Coker

	 	—
	 	Vice President-Aggregates
	Ken Hudson

	 	—
	 	Controller

Schedule 5.4-2

(to Supplement)

 

 

Financial Statements Provided to Purchasers

Natural Resource Partners L.P.

Annual Financial Statements for the years ended December 31, 2007, 2008, 2009 and 2010.

Schedule 5.5

(to Supplement)

 

 

Existing Debt

	1.	 	$179,000,000 principal under Revolving Loan Credit Agreement dated March 28, 2007.
	 
	2.	 	$36,900,000 principal of 5.55% Series A Senior Notes, due June 19, 2023.
	 
	3.	 	$37,650,000 principal of 4.91% Series B Senior Notes, due June 19, 2018.
	 
	4.	 	$35,000,000 principal of 5.55% Series C Senior Notes, due June 19, 2013.
	 
	5.	 	$76,923,077 principal amount of 5.05% Series D Senior Notes, due July 19, 2020.
	 
	6.	 	$195,000,000 principal amount of 5.82% Series E Senior Notes, due March 28, 2026.
	 
	7.	 	$1,922,160 utility local improvement obligation, maturity March 2021.
	 
	8.	 	$150,000,000 principal amount of 8.38% Series F Senior Notes due March 25, 2019.
	 
	9.	 	$50,000,000 principal amount of 8.92% Series G Senior Notes due March 25, 2024.

Schedule 5.15

(to Supplement)

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