Document:

Exhibit 10.2

 Exhibit 10.2 

 
 

 
 March 28, 2013 
 Thomas P. Lemke 
 11335 Seneca View Way 
 Great Falls, VA 22066 
  

	 	Re:	Severance Agreement and Release of Claims 

 Dear
Tom: 
 This letter sets forth the terms pertaining to the termination of your employment by Legg Mason & Co., LLC
(“Legg Mason”), effective as of March 31, 2013 (the “Separation Date”). We hope that your separation from Legg Mason can occur as smoothly as possible for you and for Legg Mason. 

You will be paid through the Separation Date and you will receive your final paycheck on the next regular payroll date following the
Separation Date. You will also receive payment for any accrued but unused paid time off to which you may be entitled, if any, at that time. 
 I am authorized to offer you the following severance package, contingent upon your agreeing to all terms and release provisions below. 

1. Subject to your signing this Agreement, Legg Mason will pay you severance pay in the amount of $2,100,000. This payment will be
less any applicable taxes and other deductions required by law and will be paid in a lump sum within 20 days after the revocation period described in paragraph (6c) expires, provided that you do not revoke this Agreement. 

Furthermore, in consideration of your agreement to the terms provided in this Agreement, you are eligible for career transition services.
These career transition services are subject to IRS rules applicable to reimbursements and in-kind benefits under separation pay plans. Information regarding career transition and outplacement services will be mailed to your home address within two
(2) weeks after you have signed and returned this Agreement. Please contact us if you do not receive this information. You will have three (3) months to make initial contact with the outplacement services vendor. 

If you are currently enrolled in Legg Mason’s medical, dental and/or vision plan, your current active coverage will end on
March 31, 2013 and you will be eligible for up to 18 months of COBRA continuation coverage. 
 Under this Agreement, you
will also receive a COBRA subsidy consisting of 100% of your applicable COBRA premium for twelve months (April 2013-March 2014). You will receive a COBRA Enrollment package within two weeks of the Separation Date. You must complete the
Enrollment forms and return them to the COBRA administrator within 60 days in order to continue your health benefits.

 

 
  

 Under, and upon effectiveness of, this Agreement, the vesting of any unvested shares of
Restricted Stock or Stock Options that do not automatically vest as a result of the reduction in force termination will be accelerated to the Separation Date. 
 2. Except as expressly set forth in this Agreement, you will be entitled to no other benefits or further compensation from Legg Mason, and all payments made to you shall be less all applicable taxes and
other deductions required by law. Nothing in this Agreement, other than as expressly provided in the last sentence in Section 1 above, will be deemed to affect the distribution, vesting or forfeiture of (i) your account, if any, under the
Legg Mason & Co., LLC Profit Sharing and 401(k) Plan and Trust; (ii) equity awards received by you, if any, under the Legg Mason, Inc. 1996 Equity Incentive Plan; or (iii) amounts owed to you, if any, in the Legg Mason &
Co., LLC Deferred Compensation/Phantom Stock Plan, all of which shall be governed by the terms of the applicable plans and related documents thereunder. 
 3. In connection with your employment with Legg Mason or its related entities, you had access to information of a nature not generally disclosed to the public. You agree to maintain the confidentiality of
any client information obtained during your employment with Legg Mason or its related entities, as well as to keep confidential any business, personnel, proprietary or trade secret information in your possession pertaining to Legg Mason or its
related entities or the employees, services, products or processes of any of these entities. You also agree (i) to return promptly any computer and electronic communication devices (e.g., computers, BlackBerrys, Personal Digital Assistants
(PDAs), pagers), books, notes, files, documents, computer data, keys and passwords or other property in the same condition it was in at the time the property was issued to you that belongs to Legg Mason or its related entities; and (ii) not to
copy or take or retain in your possession any books, notes, e-mails, documents or property belonging to Legg Mason or its related entities without my express written consent. Legg Mason expressly acknowledges that you may copy or take books, notes,
documents and other materials relating to your legal book publishing (provided, of course, it is not Legg Mason property). 
 4.
You agree not to disclose any information concerning the existence or terms of this Agreement to anyone other than your attorney, tax advisor or spouse prior to the date on which Legg Mason publicly files this Agreement with the Securities and
Exchange Commission. This clause does not bar you from disclosing the terms of this Agreement in any governmental investigation, proceeding or hearing conducted pursuant to law. 

5. In exchange for the consideration in the form of severance pay and benefits provided by Legg Mason in this Agreement, you agree to
release and forever discharge Legg Mason as well as its stockholders, parents, subsidiaries, and other related enterprises, and all of those entities’ stockholders, directors, officers, employees, agents, insurers, employee

 

 
  

 
benefit plans, fiduciaries, administrators, and successors (past, present and future) (hereinafter “Legg Mason Releasees”) from any and all rights, demands, causes of action,
complaints, contracts and other claims whatsoever, in law or in equity, which you, your heirs, successors, assigns and any personal or legal representatives have or may have against the Legg Mason Releasees, including all known, unknown, undisclosed
and unanticipated claims occurring before and including the effective date of this Agreement. This includes, but is not limited to, rights and claims which may arise out of or are in any way related to your employment by Legg Mason and the
termination of your employment and further includes, without limitation, rights and claims under Title VII of the Civil Rights Act of 1964, Section 1981 of the Civil Rights Act of 1866, the Age Discrimination in Employment Act
(“ADEA”) as amended by the Older Worker Benefits Protection Act (“OWBPA”), the Equal Pay Act, the National Labor Relations Act, the Employee Retirement Income Security Act (“ERISA”) and any employee benefit plan
sponsored by Legg Mason which is not subject to ERISA, the Americans with Disabilities Act as amended by the Americans with Disabilities Act Amendments Act, the Family and Medical Leave Act, the Genetic Information Nondiscrimination Act, the
Maryland Human Relations Act, including any amendments to the aforementioned statutes, and any other federal, state and local laws, regulations and ordinances prohibiting bias and/or employment discrimination. This also includes, but is not
limited to, claims for violation of Legg Mason’s policies; wrongful, constructive, or retaliatory discharge; breach of contract or covenant, oral and written, express and implied; common law, and alleged torts; furthermore this includes a
release for any costs or attorneys fees you may have incurred. Notwithstanding the provisions of this Section 5, (i) your right to indemnification or to be held harmless relating to third party claims and proceedings pursuant to
applicable corporate documents or the laws of the State of Maryland shall continue in accordance with the terms of such documents and laws and (ii) your right to make claims or seek reimbursement relating to third party claims or proceedings
pursuant to Legg Mason’s directors’ and officers’ insurance policy shall not be released and continue in full force and effect. 

Notwithstanding the general release above, you do not waive any rights or claims that may arise after your execution of this Agreement, claims that may
arise as a result of this Agreement, or claims that may not be waived as a matter of law. You do not waive or release any rights and claims that you may have under the Age Discrimination in Employment Act, as amended, which arise after the
effective date of this Agreement. You do not waive rights to unemployment or workers compensation benefits. 
 This release does not
prohibit you from filing a charge with any government administrative agency (such as the Equal Employment Opportunity Commission), or testifying, assisting or participating in an investigation, hearing or proceeding conducted by such agency;
however, you waive the right to receive any individualized relief, such as reinstatement, backpay, or other damages, in a lawsuit or administrative action brought by any government agency or individual on your behalf. You agree that if there is
any complaint filed in any court or arbitral forum in which you personally seek reinstatement, damages or other remedies relating to any claim that is covered by this General Release, you will immediately file a dismissal with prejudice of such
claim or remedy. 

 

 
  

	 	6.	In accordance with the requirements of the ADEA, as amended by the OWBPA, the following information is provided: 

 

	 	a.	Time to consider this Agreement. You acknowledge that you have been provided with a copy of this Agreement and have been given forty-five (45) consecutive
days in which to review and consider the Agreement. You may sign and return the Agreement sooner if you prefer. 

  

	 	b.	Attorney counsel. You are advised to consult with an attorney prior to signing this Agreement. 

 

	 	c.	Revocation. You acknowledge that you have a period of seven (7) calendar days following the signing of this Agreement to revoke this Agreement. Any such
revocation of the Agreement must be made by you and delivered to Patricia Lattin, Legg Mason, 100 International Drive, Baltimore, MD, 21202, and received prior to the end of the revocation period. Any revocation hereunder shall not affect your
termination from Legg Mason. 

  

	 	d.	 When the terms become effective. The terms of the Agreement shall become final and binding only upon expiration of the revocation period
provided in subparagraph 6(c) above. In other words, the effective date of this Agreement will be the 8th calendar day after you sign the Agreement, provided that you have not revoked the Agreement during the revocation period. No payments shall be made under this Agreement until the Agreement becomes final
and binding upon the parties. 

  

	 	e.	Information concerning Severance Program. You acknowledge receipt of the following information (attached as Exhibits A and B and made a part of this Agreement-

  

	 	(i)	a description of the class, unit or group of individuals that is covered by the Severance Program, and eligibility factors and time limits if any (Exhibit A); and

  

	 	(ii)	the job classifications and ages of all individuals selected for the Program, and the ages of all individuals in the same job classification not selected for the
Program (Exhibit B). 

 7. You agree and acknowledge that your employment with Legg Mason will be ending. On the
Separation Date, you will be deemed to have resigned from all positions you hold at subsidiaries of Legg Mason, Inc. (other than your employment with Legg Mason that is addressed by this Agreement). 

 

 
  

 8. Both parties agree that neither this Agreement nor the payment of severance pay and
benefits is an admission by the Legg Mason Releasees of any liability, wrongdoing or unlawful conduct of any kind. 
 9. You
acknowledge that during your employment, you have been paid and/or have received all compensation, wages, bonuses, commissions, and/or benefits (including insurance benefits) to which you may be entitled, and that no other compensation, wages,
bonuses, commissions and/or other benefits are due to you, except as provided in this Agreement. You further represent that you have abided by Legg Mason’s policies and procedures during the course of your employment. You understand
and agree that if Legg Mason learns that these representations are not accurate, Legg Mason has the right to immediately cease its compensation and benefit obligations pursuant to paragraph 1 of this Agreement.

10. You agree that you will not disparage, defame, or otherwise represent in a negative light Legg Mason or its related entities and any
of their directors, officers or employees, services, products, or processes. This clause does not bar you from testifying, assisting or participating in any governmental investigation, proceeding or hearing conducted pursuant to any fair employment
practices law. Legg Mason, in turn, agrees to instruct all members of the Legg Mason Executive Committee as well its employees working in Legg Mason Public Relations and Investor Relations to not disparage, defame, or otherwise represent you in a
negative light. 
 Legg Mason further agrees that Legg Mason and its related entities and any of their officers or employees
will not, directly or indirectly, specifically or implicitly, represent or suggest that you were involved with, consulted on, or approved of in any manner the proposed changes to the Governance Group that you currently oversee. Legg Mason further
acknowledges that you have communicated to it your views on the proposed changes. Legg Mason also agrees that you will not be asked to participate in the internal or external communication of the proposed changes to the Governance Group or to
others. You agree that, if contacted by the general or trade press or by other third parties, you will not discuss or comment upon the proposed changes with them. 
 11. In the event that you bring a legal action, or any dispute, claim or controversy relating to this Agreement, your employment or the termination thereof, against any Legg Mason Releasees you agree
that, at the option of Legg Mason, you will submit to arbitration. If you are associated in any capacity with a registered broker-dealer, you agree to arbitrate under the Constitution and Rules of the Financial Industry Regulatory Authority, Inc. If
you are not associated with a registered broker-dealer, or the FINRA Arbitration forum is not otherwise available to you, you agree to arbitrate pursuant to the employment arbitration rules of the American Arbitration Association. 

 

 
  

 12. You acknowledge that you have been involved in several projects or tasks which may
not have been completed as of the effective date of this Agreement, and, if requested by Legg Mason, you will cooperate with Legg Mason in accomplishing an orderly transition of your responsibilities. In addition, if requested by Legg Mason, you
will provide reasonable assistance to Legg Mason in connection with matters that may have arisen out of your performance of your duties and responsibilities during your employment. 

13. In consideration of the severance pay and benefits set forth herein, you agree that for a period of twelve (12) months following
the Separation Date you will not, directly or indirectly, for yourself or on behalf of a third party, solicit or induce any employee or client of Legg Mason or its related entities to terminate his/her employment or business relationship with
Legg Mason or its related entities or to become employed or shift their business elsewhere. However, this provision is not intended to prohibit you from providing a personal reference for another Legg Mason employee who is interviewing for a
position outside of Legg Mason (provided, of course, you were not involved in soliciting or inducing the employee to leave Legg Mason). 
 14. You acknowledge that, at some point in the future, litigation may arise either directly or tangentially relating to your employment at Legg Mason and its related entities. You agree to appear without
the need for a subpoena to provide deposition testimony and testify at trial and/or arbitration in connection with any such litigation. You also agree to cooperate in providing documents and information necessary to assist in the defense or
prosecution of any such case, including telephone calls and meetings with Legg Mason counsel. If applicable, Legg Mason agrees to pay all reasonable out-of-pocket expenses involved. 

15. You agree that the provisions of paragraphs 3, 4, 5, 7, 9, 10, 11, 12, 13 and 14 constitute material inducements to Legg Mason for
the additional consideration being paid hereunder and that any breach of the provisions of those paragraphs shall constitute a material breach of this Agreement entitling Legg Mason to a return of the consideration paid by Legg Mason to the extent
permitted by applicable law, as well as to claim for any further damages caused by such breach. In addition, Legg Mason may seek injunctive relief to prevent further breaches of those paragraphs. 

Legg Mason agrees that any breach by Legg Mason of the provisions of paragraph 10 shall constitute a material breach of the Agreement
entitling you to claim for any further damages caused by such breach. In addition, you may seek injunctive relief to prevent further breaches of paragraph 10. 
 16. If any portion of this Agreement is deemed to be invalid by an administrative agency, court, arbitrator, or other person or body deciding a dispute between the parties hereto, the parties intend and
agree that the portion of the Agreement that is deemed invalid shall be severed from the Agreement, and that the remainder of the Agreement shall be valid 

 

 
  

 
and binding and interpreted in such a manner as respects the wishes of the Parties as much as possible; provided, however, that if such decision is made invalidating all or any part of Paragraph
5 of this Agreement (other than the release and waiver under the Age Discrimination in Employment Act) due to a challenge, claim or request submitted by you, then this entire Agreement shall be deemed null and void and you will be obligated to
return to Legg Mason all of the severance pay described in Paragraph 1 to the extent permitted by applicable law. 
 17. This
Agreement sets forth the entire agreement and understanding between the parties and supersedes any and all prior agreements or understandings pertaining to your employment or the termination thereof with the exception of any restrictive covenants,
non-compete or confidentiality agreements between you and Legg Mason or its related entities, as well as post termination obligations as set forth in the Employee Handbook, which shall remain binding. This Agreement may be modified only in writing
and shall be binding upon and inure to the benefit of you, Legg Mason and the respective heirs, executors, successors and assigns of each. Your signature to this Agreement will confirm that you are not relying upon any representations or statements
made by Legg Mason or any of its agents, except as set forth herein. 
 18. Part of this Agreement is intended to be exempt from
Section 409A of the Internal Revenue Code as a short-term deferral, and part of this Agreement is intended to constitute a separation pay arrangement under applicable IRS rules. Nothing contained herein shall be deemed to alter the time or
manner of any payment, benefit or amount that is deemed to be deferred compensation that is subject to Section 409A of the Internal Revenue Code, if applicable. Under the terms of the Phantom Stock Plan, payment must be delayed by six months to
comply with 409A. By signing this Agreement you acknowledge and agree that Legg Mason does not make any representations as to the tax consequences of any compensation or benefits provided hereunder (including, without limitation, under
Section 409A of the Internal Revenue Code, if applicable), and that you are solely responsible for any and all income, excise or other taxes imposed on you with respect to any and all compensation or other benefits provided to you. 

19. This Agreement will be interpreted and enforced in accordance with the laws of the State of Maryland. 

You are advised to consult with an attorney prior to signing this Agreement. If you wish to accept this offer,
please sign and return the enclosed copy of this letter in the enclosed postage paid envelope. While I hope that you will accept this offer promptly, it will remain open for 45 days after your receipt of this letter. On the 46th day following your receipt, the offer shall be deemed withdrawn if
it was not accepted during the 45 day period. 
 If you do not accept this proposal, Legg Mason will nevertheless proceed with
the termination of your employment on the Separation Date. You will not, however, be provided with any of the benefits or compensation stated above. 

 

 
  

 I wish you the best of success and personal and professional fulfillment in the future.

  

	
	Sincerely,
	
	/s/ Joseph A. Sullivan
	
	Joseph A. Sullivan
	President and CEO

 Date Agreement was given to employee: 
 March 28, 2013 
 I ACKNOWLEDGE THAT I HAVE READ THIS AGREEMENT, UNDERSTAND IT
AND VOLUNTARILY SIGN AND ENTER INTO IT, INTENDING TO WAIVE, SETTLE AND RELEASE ALL CLAIMS I HAVE OR MIGHT HAVE AGAINST THE LEGG MASON RELEASEES EXISTING AS OF THE DATE THIS AGREEMENT IS SIGNED. 

 

	
	 /s/ Thomas P. Lemke

	Signature
	
	 Thomas P. Lemke

	Printed Name
	
	 March 28, 2013

	DateEX-10.1

 Exhibit 10.1 
 REVOLVING LINE OF CREDIT NOTE 
 (VARIABLE MAXIMUM) 

 

					
	$7,000,000.00	 		 	Roanoke, Virginia
		 		 	March 31, 2013

 FOR VALUE RECEIVED, the undersigned ROANOKE GAS COMPANY (“Borrower”) promises to pay to the
order of WELLS FARGO BANK, NATIONAL ASSOCIATION (“Bank”) at its office at 201 South Jefferson Street, 2nd Floor, Roanoke, Virginia 24011, or at such other place as the holder hereof may designate, in lawful money of the United States of
America and in immediately available funds, the principal sum of Seven Million Dollars ($7,000,000.00), or so much thereof as may be advanced and be outstanding, with interest thereon, to be computed on each advance from the date of its disbursement
as set forth herein. 
 DEFINITIONS: 
 As used herein, the following terms shall have the meanings set forth after each, and any other term defined in this Note shall have the meaning set forth at the place defined: 

(a) “Business Day” means (i) for all purposes other than as set forth in clause (ii) below, any day except a
Saturday, Sunday or any other day on which commercial banks in New York are authorized or required by law to close, and (ii) with respect to all notices and determinations in connection with LIBOR, any day that is a Business Day described in
clause (i) above and that is also a day for trading by and between banks in Dollar deposits in the London interbank market. 
 (b) “Daily One Month LIBOR” means, for any day, the rate of interest equal to LIBOR then in effect for delivery for a one (1) month period. 

(c) “LIBOR” means the rate of interest per annum determined by Bank based on the rate for United States dollar deposits for
delivery of funds for one (1) month as reported on Reuters Screen LIBOR01 page (or any successor page) at approximately 11:00 a.m., London time, or, for any day not a Business Day, the immediately preceding Business Day (or if not so reported,
then as determined by Bank from another recognized source or interbank quotation), rounded upward, if necessary, to the nearest whole 1/100 of 1%. 
 INTEREST: 
 (a) Interest. The outstanding principal balance of this
Note shall bear interest (computed on the basis of a 360-day year, actual days elapsed) at a fluctuating rate per annum determined by Bank to be one percent (1.00%) above Daily One Month LIBOR in effect from time to time. Each change in the
rate of interest hereunder shall become effective on each Business Day a change in Daily One Month LIBOR is announced within Bank. Bank is hereby authorized to note the date and interest rate applicable to this Note and any payments made thereon on
Bank’s books and records (either manually or by electronic entry) and/or on any schedule attached to this Note, which notations shall be prima facie evidence of the accuracy of the information noted. 

(b) Taxes and Regulatory Costs. Borrower shall pay to Bank immediately upon demand, in addition to any other amounts due or to
become due hereunder, any and all (i) 

  
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withholdings, interest equalization taxes, stamp taxes or other taxes (except income and franchise taxes) imposed by any domestic or foreign governmental authority and related in any manner to
LIBOR, and (ii) costs, expenses and liabilities arising from or in connection with reserve percentages prescribed by the Board of Governors of the Federal Reserve System (or any successor) for “Eurocurrency Liabilities” (as defined in
Regulation D of the Federal Reserve Board, as amended), assessment rates imposed by the Federal Deposit Insurance Corporation, or similar requirements or costs imposed by any domestic or foreign governmental authority or resulting from compliance by
Bank with any request or directive (whether or not having the force of law) from any central bank or other governmental authority and related in any manner to LIBOR. In determining which of the foregoing are attributable to any LIBOR option
available to Borrower hereunder, any reasonable allocation made by Bank among its operations shall be conclusive and binding upon Borrower. 
 (c) Payment of Interest. Interest accrued on this Note shall be payable on the first day of each month, commencing April 1, 2013. 

(d) Default Interest. From and after the maturity date of this Note, or such earlier date as all principal owing hereunder becomes
due and payable by acceleration or otherwise, or at Bank’s option upon the occurrence, and during the continuance of an Event of Default, the outstanding principal balance of this Note shall bear interest at an increased rate per annum
(computed on the basis of a 360-day year, actual days elapsed) equal to three percent (3%) above the rate of interest from time to time applicable to this Note. 
 BORROWING AND REPAYMENT: 
 (a) Borrowing and Repayment. Borrower may from
time to time during the term of this Note borrow, partially or wholly repay its outstanding borrowings, and reborrow, subject to all of the limitations, terms and conditions of this Note and of any document executed in connection with or governing
this Note; provided however, that the total outstanding borrowings under this Note shall not at any time exceed the principal amount set forth above or such lesser amount as shall at any time be available hereunder. The unpaid principal balance of
this obligation at any time shall be the total amounts advanced hereunder by the holder hereof less the amount of principal payments made hereon by or for any Borrower, which balance may be endorsed hereon from time to time by the holder. The
outstanding principal balance of this Note shall be due and payable in full on March 31, 2014. 
 (b) Adjustments to
Availability. Notwithstanding the principal amount set forth above, the maximum principal amount available under this Note shall vary from time to time as follows: 
  

	 	(i)	$1,000,000.00 from the date of this Note up to and including September 24, 2013; 

 

	 	(ii)	$5,000,000.00 from September 25, 2013 up to and including November 22, 2013; 

 

	 	(iii)	$7,000,000.00 from November 23, 2013, up to and including January 24, 2014; 

 

	 	(iv)	$5,000,000.00 from January 25, 2014 up to and including February 28, 2014; and 

 

	 	(v)	$1,000,000.00 from March 1, 2014, up to and including March 31, 2014. 

  
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 If the outstanding principal balance of this Note at any time is greater than the new
maximum principal amount then available hereunder, Borrower shall immediately make a principal reduction on this Note in an amount sufficient to reduce the then outstanding principal balance hereof to an amount not greater than said new maximum
principal amount. 
 (c) Advances. Advances hereunder, to the total amount of the principal sum stated above, may be made
by the holder at the oral or written request of (i) John B. Williamson, III, Howard T. Lyon, Paul W. Nester or John S. D’Orazio, any one acting alone, who are authorized to request advances and direct the disposition of any advances until
written notice of the revocation of such authority is received by the holder at the office designated above, or (ii) any person, with respect to advances deposited to the credit of any deposit account of Borrower, which advances, when so
deposited, shall be conclusively presumed to have been made to or for the benefit of Borrower regardless of the fact that persons other than those authorized to request advances may have authority to draw against such account. The holder shall have
no obligation to determine whether any person requesting an advance is or has been authorized by Borrower. 
 (d) Application
of Payments. Each payment made on this Note shall be credited first, to any interest then due and second, to the outstanding principal balance hereof. 
 EVENTS OF DEFAULT: 
 This Note is made pursuant to and is subject to the terms and
conditions of that certain Credit Agreement between Borrower and Bank dated as of March 30, 2012, as amended from time to time (the “Credit Agreement”). Any default in the payment or performance of any obligation under this Note, or
any defined event of default under the Credit Agreement, shall constitute an “Event of Default” under this Note. 
 MISCELLANEOUS:

 (a) Remedies. Upon the occurrence of any Event of Default, the holder of this Note, at the holder’s option, may
declare all sums of principal and interest outstanding hereunder to be immediately due and payable without presentment, demand, notice of nonperformance, notice of protest, protest or notice of dishonor, all of which are expressly waived by
Borrower, and the obligation, if any, of the holder to extend any further credit hereunder shall immediately cease and terminate. Borrower shall pay to the holder immediately upon demand the full amount of all payments, advances, charges, costs and
expenses, including reasonable attorneys’ fees (to include outside counsel fees and all allocated costs of the holder’s in-house counsel), expended or incurred by the holder in connection with the enforcement of the holder’s rights
and/or the collection of any amounts which become due to the holder under this Note, and the prosecution or defense of any action in any way related to this Note, including without limitation, any action for declaratory relief, whether incurred at
the trial or appellate level, in an arbitration proceeding or otherwise, and including any of the foregoing incurred in connection with any bankruptcy proceeding (including without limitation, any adversary proceeding, contested matter or motion
brought by Bank or any other person) relating to Borrower or any other person or entity. 

  
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 (b) Obligations Joint and Several. Should more than one person or entity sign this
Note as a Borrower, the obligations of each such Borrower shall be joint and several. 
 (c) Governing Law. This Note
shall be governed by and construed in accordance with the laws of the Commonwealth of Virginia. 
 (d) Business Purpose.
Borrower represents and warrants that all loans evidenced by this Note are for a business, commercial, investment, or other similar purpose and not primarily for a personal, family or household use. 

IN WITNESS WHEREOF, the undersigned has executed this Note as of the date first written above. 

 

			
	ROANOKE GAS COMPANY
		
	By:	 	 /s/ John S. D’Orazio

	Printed Name:	 	 John S. D’Orazio

	Printed Title:	 	 President and CEO

		
	By:	 	 /s/ Dale P. Lee

	Printed Name:	 	 Dale P. Lee

	Printed Title:	 	 Secretary

  
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