Document:

EX-10.1

 Exhibit 10.1 

EXECUTION VERSION 
  

 
  

$1,000,000,000 REVOLVING CREDIT FACILITY AGREEMENT 

among 
 SOUTHWEST AIRLINES CO.,

 THE BANKS PARTY HERETO, 

BARCLAYS BANK PLC, 
 as
Syndication Agent, 
 BANK OF AMERICA, N.A., 

BNP PARIBAS, 
 GOLDMAN
SACHS BANK USA, 
 MORGAN STANLEY SENIOR FUNDING, INC., 

U.S. BANK NATIONAL ASSOCIATION 

and 
 WELLS FARGO BANK, N.A.,

 as Documentation Agents 

and 
 JPMORGAN CHASE BANK, N.A.

 and 
 CITIBANK, N.A.,

 as Co-Administrative Agents 

and 
 JPMORGAN CHASE BANK, N.A.,

 as Paying Agent 
 As of
August 3, 2016 
 JPMORGAN CHASE BANK, N.A. 

and 
 CITIGROUP GLOBAL
MARKETS INC., 
 as Joint Lead Arrangers and Joint Bookrunners 
  

 
  

 Table of Contents 

Page 
  

					
	 ARTICLE I DEFINITIONS AND ACCOUNTING TERMS
	 	 	1	  
	 Section 1.1 Certain Defined Terms
	 	 	1	  
	 Section 1.2 Computation of Time Periods
	 	 	15	  
		
	 ARTICLE II LOANS
	 	 	15	  
	 Section 2.1 Commitments
	 	 	15	  
	 Section 2.2 Committed Borrowing Procedure
	 	 	16	  
	 Section 2.3 Refinancings; Conversions
	 	 	16	  
	 Section 2.4 Fees
	 	 	17	  
	 Section 2.5 Termination and Reduction of Commitments
	 	 	17	  
	 Section 2.6 Loans
	 	 	18	  
	 Section 2.7 Loan Accounts
	 	 	18	  
	 Section 2.8 Interest on Loans
	 	 	19	  
	 Section 2.9 Interest on Overdue Amounts
	 	 	19	  
	 Section 2.10 Alternate Rate of Interest
	 	 	19	  
	 Section 2.11 Prepayment of Loans
	 	 	20	  
	 Section 2.12 Reserve Requirements; Change in Circumstances
	 	 	20	  
	 Section 2.13 Change in Legality
	 	 	22	  
	 Section 2.14 Indemnity
	 	 	22	  
	 Section 2.15 Pro Rata Treatment
	 	 	23	  
	 Section 2.16 Sharing of Setoffs
	 	 	23	  
	 Section 2.17 Payments
	 	 	24	  
	 Section 2.18 Taxes
	 	 	24	  
	 Section 2.19 Calculation of LIBO Rates
	 	 	27	  
	 Section 2.20 Booking Loans
	 	 	27	  
	 Section 2.21 Quotation of Rates
	 	 	27	  
	 Section 2.22 Defaulting Banks
	 	 	28	  
	 Section 2.23 Mitigation Obligations; Replacement of Banks
	 	 	29	  
	 Section 2.24 Commitment Increases
	 	 	30	  
	 Section 2.25 Extension of the Termination Date
	 	 	31	  
		
	 ARTICLE III LETTERS OF CREDIT
	 	 	33	  
	 Section 3.1 L/C Commitment
	 	 	33	  
	 Section 3.2 Procedure for Issuance of Letter of Credit
	 	 	33	  
	 Section 3.3 Fees and Other Charges
	 	 	34	  
	 Section 3.4 L/C Participations
	 	 	34	  
	 Section 3.5 Reimbursement Obligation of the Company
	 	 	35	  
	 Section 3.6 Obligations Absolute
	 	 	35	  
	 Section 3.7 Letter of Credit Payments
	 	 	35	  
	 Section 3.8 Applications
	 	 	36	  
		
	 ARTICLE IV CONDITIONS OF LENDING
	 	 	36	  
	 Section 4.1 Conditions Precedent
	 	 	36	  
	 Section 4.2 Conditions Precedent to Each Committed Borrowing
	 	 	37	  
	 Section 4.3 Conditions Precedent to Each Letter of Credit Issuance
	 	 	37	  
	 Section 4.4 Legal Details
	 	 	37	  
		
	 ARTICLE V REPRESENTATIONS AND WARRANTIES
	 	 	38	  

  
 i 

					
	 Section 5.1 Organization, Authority and Qualifications
	 	 	38	  
	 Section 5.2 Financial Statements
	 	 	38	  
	 Section 5.3 Compliance with Agreement and Laws
	 	 	38	  
	 Section 5.4 Authorization; No Breach; and Valid Agreements
	 	 	38	  
	 Section 5.5 Litigation and Judgments
	 	 	39	  
	 Section 5.6 Ownership of Properties
	 	 	39	  
	 Section 5.7 Taxes
	 	 	39	  
	 Section 5.8 Approvals Required
	 	 	39	  
	 Section 5.9 Business; Status as Air Carrier
	 	 	39	  
	 Section 5.10 ERISA Compliance
	 	 	39	  
	 Section 5.11 Insurance
	 	 	39	  
	 Section 5.12 Purpose of Loan
	 	 	40	  
	 Section 5.13 Investment Company Act
	 	 	40	  
	 Section 5.14 General
	 	 	40	  
	 Section 5.15 EEA Financial Institutions
	 	 	40	  
	 Section 5.16 Anti-Corruption Laws and Sanctions
	 	 	40	  
		
	 ARTICLE VI COVENANTS
	 	 	40	  
	 Section 6.1 Performance of Obligations
	 	 	40	  
	 Section 6.2 Compliance with Laws
	 	 	40	  
	 Section 6.3 Maintenance of Existence, Licenses and Franchises: Compliance With Agreements
	 	 	41	  
	 Section 6.4 Maintenance of Properties
	 	 	41	  
	 Section 6.5 Maintenance of Books and Records
	 	 	42	  
	 Section 6.6 Inspection
	 	 	42	  
	 Section 6.7 Insurance
	 	 	42	  
	 Section 6.8 Appraisals
	 	 	42	  
	 Section 6.9 Coverage Ratio
	 	 	43	  
	 Section 6.10 Reporting Requirements
	 	 	43	  
	 Section 6.11 Use of Proceeds
	 	 	44	  
	 Section 6.12 Pool Assets
	 	 	44	  
	 Section 6.13 Restrictions on Liens
	 	 	45	  
	 Section 6.14 Mergers and Dissolutions
	 	 	45	  
	 Section 6.15 Assignment
	 	 	46	  
		
	 ARTICLE VII EVENTS OF DEFAULT; REMEDIES
	 	 	46	  
	 Section 7.1 Events of Default
	 	 	46	  
	 Section 7.2 Remedies Upon Default
	 	 	48	  
	 Section 7.3 Remedies in General
	 	 	48	  
		
	 ARTICLE VIII THE AGENTS
	 	 	49	  
	 Section 8.1 Authorization and Action
	 	 	49	  
	 Section 8.2 Agents’ Reliance, Etc.
	 	 	49	  
	 Section 8.3 Rights of Agents as Banks
	 	 	50	  
	 Section 8.4 Bank Credit Decision
	 	 	50	  
	 Section 8.5 Agents’ Indemnity
	 	 	50	  
	 Section 8.6 Successor Paying Agent
	 	 	51	  
	 Section 8.7 Notice of Default
	 	 	51	  
	 Section 8.8 Co-Administrative Agents and Documentation Agent
	 	 	51	  
		
	 ARTICLE IX MISCELLANEOUS
	 	 	51	  
	 Section 9.1 Amendments, Etc
	 	 	51	  

  
 ii 

					
	 Section 9.2 Notices, Etc.
	 	 	52	  
	 Section 9.3 No Waiver; Remedies
	 	 	53	  
	 Section 9.4 Costs, Expenses and Taxes
	 	 	53	  
	 Section 9.5 Indemnity
	 	 	53	  
	 Section 9.6 Right of Setoff
	 	 	54	  
	 SECTION 9.7 GOVERNING LAW
	 	 	54	  
	 Section 9.8 Submission To Jurisdiction; Waivers
	 	 	54	  
	 Section 9.9 Survival of Representations and Warranties
	 	 	55	  
	 Section 9.10 Binding Effect
	 	 	55	  
	 Section 9.11 Successors and Assigns; Participations
	 	 	55	  
	 Section 9.12 Confidentiality
	 	 	58	  
	 Section 9.13 Independence of Covenants
	 	 	58	  
	 Section 9.14 Severability
	 	 	59	  
	 Section 9.15 Integration
	 	 	59	  
	 Section 9.16 Descriptive Headings
	 	 	59	  
	 Section 9.17 Execution in Counterparts
	 	 	59	  
	 Section 9.18 WAIVERS OF JURY TRIAL
	 	 	59	  
	 Section 9.19 No Fiduciary Duty
	 	 	59	  
	 Section 9.20 USA Patriot Act
	 	 	60	  
	 Section 9.21 Acknowledgement and Consent to Bail-In of EEA Financial Institutions
	 	 	60	  
	 Section 9.22 Interest Rate Limitation
	 	 	60	  

 SCHEDULES 
  

			
	 Location of Lending Office; Notice Information
	  	Schedule I
	 Pool Assets
	  	Schedule II

 EXHIBITS 
  

			
	 Form of Notice of Committed Borrowing
	  	Exhibit A
	 Form of Note
	  	Exhibit B
	 Form of Company’s Internal Counsel Opinion
	  	Exhibit C-1
	 Form of Company’s Outside Counsel Opinion
	  	Exhibit C-2
	 Form of Agents’ Counsel Opinion
	  	Exhibit C-3
	 Form of Financial Report Certificate
	  	Exhibit D
	 Form of Assignment and Assumption
	  	Exhibit E
	 Form of Appraisal
	  	Exhibit F
	 Form of U.S. Tax Compliance Certificate – Foreign Banks (Not Partnerships)
	  	Exhibit G-1
	 Form of U.S. Tax Compliance Certificate – Non-U.S. Participants (Partnerships)
	  	Exhibit G-2
	 Form of U.S. Tax Compliance Certificate – Non-U.S. Participants (Not Partnerships)
	  	Exhibit G-3
	 Form of U.S. Tax Compliance Certificate – Foreign Banks (Partnerships)
	  	Exhibit G-4
	 Form of Increased Facility Activation Notice
	  	Exhibit H-1
	 Form of New Bank Supplement
	  	Exhibit H-2

  
 iii 

 REVOLVING CREDIT FACILITY AGREEMENT 

REVOLVING CREDIT FACILITY AGREEMENT, dated as of August 3, 2016, among SOUTHWEST AIRLINES CO. (the “Company”), the Banks (as
herein defined), JPMORGAN CHASE BANK, N.A., as Paying Agent (as herein defined), JPMORGAN CHASE BANK, N.A. and CITIBANK, N.A., as co-administrative agents for the Banks (in such capacity, the “Co-Administrative Agents”), BARCLAYS
BANK PLC, as syndication agent for the Banks (in such capacity, the “Syndication Agent”) and BANK OF AMERICA, N.A., BNP PARIBAS, GOLDMAN SACHS BANK USA, MORGAN STANLEY SENIOR FUNDING, INC., U.S. BANK NATIONAL ASSOCIATION and WELLS
FARGO BANK, N.A., as documentation agents for the Banks (collectively, in such capacity, the “Documentation Agents”). 

The Company has requested the Banks to extend credit to the Company in order to enable it to borrow on a revolving credit basis and to obtain
letters of credit on and after the Effective Date and at any time and from time to time prior to the Termination Date (each as herein defined) in an aggregate principal amount not in excess of the Commitments outstanding at such time. The Banks
are willing to extend such credit to the Company on the terms and conditions herein set forth. Accordingly, the Company, the Agents (as herein defined), and the Banks agree as follows: 

ARTICLE I 
 DEFINITIONS
AND ACCOUNTING TERMS 
 Section 1.1 Certain Defined Terms. As used in this Agreement, the following terms shall have
the following meanings (such meanings to be equally applicable to both the singular and plural forms of the terms defined): 

“Additional Commitment Bank” is defined in Section 2.25(c). 

“Adjusted Pre-Tax Income” of any Person means, with respect to any period, income before income taxes of such Person for such
period, but excluding (i) any gain or loss arising from the sale of capital assets other than capital assets consisting of Aircraft, (ii) any gain or loss arising from any write-up or write-down of assets, (iii) income or loss of any other Person,
substantially all of the assets of which have been acquired by such Person in any manner, to the extent that such income or loss was realized by such other Person prior to the date of such acquisition, (iv) income or loss of any other Person (other
than a Subsidiary) in which such Person has an ownership interest, (v) the income or loss of any other Person to which assets of such Person shall have been sold, transferred, or disposed of, or into which such Person shall have merged, to the
extent that such income or loss arises prior to the date of such transaction, (vi) any gain or loss arising from the acquisition of any securities of such Person, (vii) gains or losses reported as extraordinary in accordance with GAAP not previously
excluded in clauses (i) through (vi), and (viii) the cumulative effect of changes in accounting methods permitted by GAAP during such period. Notwithstanding the foregoing, the determination of income before income taxes for any period shall be
adjusted by any pre-tax non-GAAP financial measures for such period as identified in “Reconciliation of Reported Amounts to Non-GAAP Financial Measures” contained in the Management’s Discussion and Analysis of Financial Condition and
Results of Operations in the Company’s filings in respect of such period on Form 10-Q or Form 10-K with the Securities and Exchange Commission. 

“Administrative Questionnaire” means an Administrative Questionnaire in a form satisfactory to the Paying Agent, which each
Bank shall complete and provide to the Paying Agent. 

 “Affiliate” means a Person that directly, or indirectly through one or more
intermediaries, controls or is controlled by or is under common control with another Person. 
 “Agents” means the Paying
Agent, the Co-Administrative Agents, the Syndication Agent and the Documentation Agents. 
 “Agreed Maximum Rate” means,
for any date, 2% per annum above the interest rate then applicable to Alternate Base Loans. 
 “Agreement” means this
Revolving Credit Facility Agreement, as the same may be amended, supplemented, or modified from time to time. 
 “Aircraft”
means, collectively, airframes and aircraft engines now owned or hereafter acquired by the Company, together with all appliances, equipment, instruments, and accessories (including radio and radar, but excluding passenger convenience equipment) from
time to time belonging to, installed in, or appurtenant to such airframes and aircraft engines; provided, however, the term “Aircraft” shall not include airframes and engines leased by the Company. 

“Aircraft Rentals” means the operating expense attributable to aircraft rentals, calculated in accordance with the line item
described as such in the Current Financials. 
 “Alternate Base Loan” means any Committed Loan with respect to which the
Company shall have selected an interest rate based on the Alternate Base Rate in accordance with the provisions of Article II. 

“Alternate Base Rate” means, for any day, a rate per annum (rounded upwards, if necessary, to the next 1/16 of 1%) equal to
the greatest of (a) the Prime Rate in effect on such day, (b) the LIBO Rate for a one-month Interest Period on such day (or if such day is not a Business Day, the immediately preceding Business Day) plus 1%, and (c) the New York Fed Bank Rate for
such day plus  1⁄2 of 1%. For purposes hereof: “Prime Rate” shall mean the rate of interest per annum publicly announced from time
to time by JPMorgan Chase Bank, N.A. as its prime rate in effect at its principal office in New York City (the Prime Rate not being intended to be the lowest rate of interest charged by JPMorgan Chase Bank, N.A. in connection with extensions of
credit to debtors). Any change in the Alternate Base Rate due to a change in the Prime Rate, the LIBO Rate or the New York Fed Bank Rate shall be effective as of the opening of business on the effective day of such change in the Prime Rate, the
LIBO Rate or the New York Fed Bank Rate, respectively. 
 “Anti-Corruption Laws” means all laws, rules and regulations of
any jurisdiction applicable to the Company or its Subsidiaries from time to time concerning or relating to bribery or corruption. 

“Applicable Lending Office” means, with respect to each Bank, such Bank’s Domestic Lending Office in the case of an
Alternate Base Loan and such Bank’s Eurodollar Lending Office in the case of a Eurodollar Loan. 

  
 2 

 “Applicable Rate” means the relevant rate determined by reference to the Index
Debt Rating in effect on such date as set forth below. 
  

													
	 Index Debt Ratings S&P/Moody’s
	  	Applicable
Rate
(Eurodollar
Loans)	 	 	Applicable
Rate
(Alternate
Base Rate
Loans)	 	 	Commitment
Fee Rate	 
	 A/A2 or better
	  	 	0.875	% 	 	 	0.000	% 	 	 	0.080	% 
	 A-/A3
	  	 	1.000	% 	 	 	0.000	% 	 	 	0.100	% 
	 BBB+/Baa1
	  	 	1.125	% 	 	 	0.125	% 	 	 	0.125	% 
	 BBB/Baa2
	  	 	1.250	% 	 	 	0.250	% 	 	 	0.150	% 
	 BBB-/Baa3 or below
	  	 	1.500	% 	 	 	0.500	% 	 	 	0.200	% 

 Each change in the Applicable Rate shall apply during the period commencing on the effective date of such change and ending on
the date immediately preceding the effective date of the next such change. If the rating system of Moody’s or S&P shall change, the Company and the Banks shall negotiate in good faith to amend this definition to reflect such changed
rating system and, pending the effectiveness of any such amendment, the Applicable Rate shall be determined by reference to the rating most recently in effect prior to such change. 

“Application” means an application, in such form as an Issuing Bank may specify from time to time, requesting such Issuing
Bank to open a Letter of Credit. Each Issuing Bank shall furnish to the Company a form of Application satisfactory to it promptly following the request therefor by the Company. 

“Appraisal” means a “desk-top” appraisal report addressed to the Paying Agent and substantially in the form of
Exhibit F, which will not include physical inspection of aircraft, engines or maintenance records and will assume the equipment is half life in its maintenance cycle, dated the date of delivery of such report to the Banks pursuant to the
terms of this Agreement, by one or more independent appraisal firms of recognized national standing selected by the Company (such firm to be reasonably satisfactory, at the time of such Appraisal, to the Paying Agent) setting forth the fair market
value, as determined in accordance with the definition of “current market value” promulgated by the International Society of Transport Aircraft Trading, as of the date of such appraisal, of each Pool Asset or a proposed Pool Asset, as the
case may be. 
 “Appraisal Delivery Date” means (a) the Effective Date, (b) each anniversary of the Effective Date (other
than such date falling in the year of the Termination Date) and (c) each date of replacement, removal or addition of any Pool Asset if such Pool Asset is an airframe or an airframe and one or more engines installed thereon. 

“Appraised Value” means, as of any date of determination, (a) in respect of all Pool Assets, the aggregate current market
value as of such date of such Pool Assets and (b) in respect of any Pool Asset or proposed Pool Asset, as the case may be, the current market value as of such date of such Pool Asset or proposed Pool Asset, as applicable, in each case, as provided
in the most recently delivered Appraisal. 
 “Assignment and Assumption” is defined in Section 9.11(c). 

“Auditors” means independent certified public accountants of recognized national standing selected by the Company. 

  
 3 

 “Available Revolving Commitment” means, as to any Bank at any time, an amount
equal to the excess, if any, of (a) such Bank’s Commitment then in effect over (b) such Bank’s Revolving Credit Exposure then outstanding. 

“Bail-In Action” means the exercise of any Write-Down and Conversion Powers by the applicable EEA Resolution Authority in
respect of any liability of an EEA Financial Institution. 
 “Bail-In Legislation” means, with respect to any EEA Member
Country implementing Article 55 of Directive 2014/59/EU of the European Parliament and of the Council of the European Union, the implementing law for such EEA Member Country from time to time which is described in the EU Bail-In Legislation
Schedule. 
 “Banks” means those banks and other financial institutions signatory hereto and other banks or financial
institutions which from time to time become party hereto pursuant to the provisions of this Agreement. 
 “Board” means the
Board of Governors of the Federal Reserve System of the United States. 
 “Borrowing” means a Committed Borrowing. 

“Borrowing Date” means the Business Day on which the proceeds of any Borrowing are to be made available to the Company. 

“Business Day” means a day other than a Saturday, Sunday or other day on which commercial banks in New York City are
authorized or required by law to close, provided, that with respect to notices and determinations in connection with, and payments of principal and interest on, Eurodollar Loans, such day is also a day for trading in London, England by and
between banks in dollar deposits in the Eurodollar Interbank Market. 
 “Capital Stock” means any and all shares,
interests, participations or other equivalents (however designated) of capital stock of a corporation, any and all equivalent ownership interests in a Person (other than a corporation) and any and all warrants, rights or options to purchase any of
the foregoing. 
 “Co-Administrative Agents” is defined in the introduction to this Agreement. 

“Code” means the Internal Revenue Code of 1986, as amended from time to time. 

“Collateral Coverage Test” means, on any date, the requirement that the Appraised Value of the Pool Assets on such date shall
not be less than an amount equal to 1.25 times the Total Commitment on such date (or, after termination of the Commitments, the sum of the aggregate outstanding amount of Loans and L/C Obligations). 

“Commitment” means, with respect to each Bank, the obligation of such Bank to make Loans and to issue or participate in
Letters of Credit in the aggregate principal and/or face amount set forth opposite the name of such Bank on the signature pages hereof, and, if applicable, amendments hereto, as such amount may be permanently terminated or reduced from time to time
pursuant to Section 2.5 and Section 7.2, as such amount may be obtained or increased from time to time pursuant to Section 2.24, and as such amount may be increased or reduced from time to time by assignment
or assumption pursuant to Section 2.23(b) and 
Section 9.11(c). The Commitments shall automatically and permanently terminate on the Termination Date. 

  
 4 

 “Commitment Fee” is defined in Section 2.4. 

“Committed Borrowing” means a borrowing consisting of simultaneous Committed Loans from each of the Banks distributed ratably
among the Banks in accordance with their respective Commitments. 
 “Committed Loan” means a loan by a Bank to the Company
pursuant to Section 2.1, and shall be either a Eurodollar Loan or an Alternate Base Loan. 
 “Communications” is
defined in Section 9.2. 
 “Company” is defined in the introduction to this Agreement. 

“Coverage Ratio” means, as of any date, the ratio of (i) for the four fiscal quarter period for which the
Company’s annual or quarterly Financial Statements have been most recently required to have been delivered pursuant to Section 6.10(a) and Section 6.10(b), the Company’s and its Subsidiaries’ consolidated Adjusted
Pre-Tax Income, plus Aircraft Rentals, plus consolidated Net Interest Expense, and depreciation and amortization, and minus cash dividends paid by the Company, to (ii) the Company’s and its Subsidiaries’ consolidated Net Interest Expense
and Aircraft Rentals for such four-quarter period. 
 “Current Financials” means the Financial Statements of the Company
and its Subsidiaries for the fiscal year ended December 31, 2015. 
 “Debt” means, without duplication, (a) any
indebtedness for borrowed money or incurred in connection with the acquisition or construction of any Property, (b) any obligation under any lease of any Property entered into after the date of this Agreement which is required under GAAP to be
capitalized on the lessee’s balance sheet, and (c) any direct or indirect guarantee or assumption of indebtedness or obligations described in clause (a) or (b), including without limitation any agreement to provide funds to or otherwise assure
the ability of an obligor to repay indebtedness or meet its obligations. 
 “Debtor Relief Laws” means the Bankruptcy Code
of the United States of America and all other applicable liquidation, conservatorship, bankruptcy, moratorium, rearrangement, receivership, insolvency, reorganization, fraudulent transfer or conveyance, suspension of payments, or similar Laws from
time to time in effect affecting the Rights of creditors generally. 
 “Default” means the occurrence of any event which
with the giving of notice or the passage of time or both would become an Event of Default. 
 “Defaulting Bank” means any
Bank, as determined by the Paying Agent, that (a) has failed, in the determination of the Paying Agent, which determination shall be conclusive subject to manifest error, to fund any portion of its Loans or participations in Letters of Credit within
three Business Days of the date required to be funded by it hereunder unless such Bank notifies the Paying Agent in writing that such failure is the result of such Bank’s reasonable determination that one or more conditions precedent to funding
has not been satisfied, (b) has notified the Company, the Paying Agent, any Issuing Bank or any Bank in writing that it does not intend to comply with any of its funding obligations under this Agreement or has made a public statement to the effect
that it does not intend to comply with its funding obligations under this Agreement (unless such writing or public statement relates to such Bank’s obligation to fund a Loan hereunder and states that such position is based on such Bank’s
reasonable determination that a condition precedent to funding cannot be satisfied) or generally under agreements in which it has committed to extend credit, (c) has failed, within three Business Days after written request by the Paying Agent
(whether acting on its own behalf or at the reasonable request of the Company (it being understood that the Paying Agent shall comply with any such reasonable request)), to confirm that it will comply

  
 5 

 
with the terms of this Agreement relating to its obligations to fund prospective Loans and participations in then outstanding Letters of Credit; provided that any such Bank shall cease to
be a Defaulting Bank under this clause (c) upon receipt of such confirmation by the Paying Agent, (d) has otherwise failed to pay over to the Paying Agent or any other Bank any other amount required to be paid by it hereunder within three Business
Days of the date when due, unless the subject of a good faith dispute, (e) has become the subject of a bankruptcy or insolvency proceeding, or has had a receiver, conservator, trustee or custodian appointed for it, or has a direct or indirect parent
company that has become the subject of a bankruptcy or insolvency proceeding, or has had a receiver, conservator, trustee or custodian appointed for it, or (f) has, or has a direct or indirect parent company that has, become the subject of a Bail-In
Action. No Bank shall be a Defaulting Bank solely by virtue of the ownership or acquisition of any equity interest in such Bank or a parent company thereof by a Governmental Authority or an instrumentality thereof so long as such ownership
interest does not result in or provide such Bank with immunity from the jurisdiction of courts within the United States or from the enforcement of judgments or writs of attachment on its assets or permit such Bank (or such Governmental Authority) to
reject, repudiate, disavow or disaffirm any contracts or agreements made with such Bank. 
 “Documentation Agents” is
defined in the introduction to this Agreement. 
 “dollars” and the symbol “$” mean the lawful currency of
the United States of America. 
 “Domestic Lending Office” means, with respect to any Bank, the office of such Bank
specified as its “Domestic Lending Office” on Schedule I to this Agreement or such other office of such Bank as such Bank may from time to time specify to the Company and the Paying Agent. 

“EEA Financial Institution” means (a) any institution established in any EEA Member Country which is subject to the
supervision of an EEA Resolution Authority, (b) any entity established in an EEA Member Country which is a parent of an institution described in clause (a) of this definition, or (c) any institution established in an EEA Member Country which is a
subsidiary of an institution described in clauses (a) or (b) of this definition and is subject to consolidated supervision with its parent. 

“EEA Member Country” means any of the member states of the European Union, Iceland, Liechtenstein, and Norway. 

“EEA Resolution Authority” means any public administrative authority or any Person entrusted with public administrative
authority of any EEA Member Country (including any delegee) having responsibility for the resolution of any EEA Financial Institution. 

“Effective Date” means the date on which the conditions set forth in Section 4.1 are first met, which date is August
3, 2016. 
 “Eligible Affiliate Assignee” means, with respect to any Bank, an Affiliate thereof that is: (i) a commercial
bank organized under the Laws of the United States, or any state thereof, and having total assets in excess of $1,000,000,000; (ii) a commercial bank organized under the Laws of France, Germany, the Netherlands or the United Kingdom, or under the
Laws of a political subdivision of any such country, and having total assets in excess of $1,000,000,000; provided that such bank is acting through a branch or agency located in such country or the United States; or (iii) a commercial bank
organized under the Laws of any other country which is a member of the OECD, or under the Laws of a political subdivision of any such country, and having total assets in excess of $1,000,000,000; provided that such bank is acting through a
branch or agency located in the United States. 

  
 6 

 “ERISA” means the Employee Retirement Income Security Act of 1974, as amended
from time to time, and the regulations promulgated thereunder. 
 “EU Bail-In Legislation Schedule” means the EU Bail-In
Legislation Schedule published by the Loan Market Association (or any successor Person), as in effect from time to time. 

“Eurocurrency Liabilities” is defined in Regulation D. 

“Eurodollar Interbank Market” means the London eurodollar interbank market. 

“Eurodollar Lending Office” means, with respect to each Bank, the branches or affiliates of such Bank which such Bank has
designated on Schedule I as its “Eurodollar Lending Office” or may hereafter designate from time to time as its “Eurodollar Lending Office” by notice to the Company and the Paying Agent. 

“Eurodollar Loan” means any loan with respect to which the Company shall have selected an interest rate based on the LIBO
Rate in accordance with the provisions of Article II. 
 “Event of Default” means any of the events described in
Article VII, provided there has been satisfied any requirement in connection therewith for the giving of notice, lapse of time, or happening of any further condition, event, or act. 

“Excluded Taxes” means with respect to any payment made by the Company under this Agreement or any Loan Papers, any of the
following Taxes imposed on or with respect to the Paying Agent, a Bank or an Issuing Bank: (a) income or franchise Taxes imposed on (or measured by) net income by the United States of America (including a state, locality or other political
subdivision thereof), or by the jurisdiction (including a state, locality or other political subdivision thereof) under the laws of which such Paying Agent, Bank or Issuing Bank is organized or in which its principal office is located or, in the
case of any Bank, in which its applicable lending office is located, (b) any branch profits Taxes imposed by the United States of America or any similar Taxes imposed by any other jurisdiction in which the Company is located, (c) in the case of a
Foreign Bank (other than an assignee pursuant to a request by the Company under Section 2.23), any U.S. Federal withholding Taxes resulting from any Law in effect on the date such Foreign Bank becomes a party to this Agreement (or designates
a new lending office) or is attributable to such Foreign Bank’s failure to comply with Section 2.18(f), except to the extent that such Foreign Bank (or its assignor, if any) was entitled, at the time of designation of a new lending
office (or assignment), to receive additional amounts from the Company with respect to such withholding Taxes pursuant to Section 2.18(a), (d) Other Connection Taxes, and (e) any U.S. withholding Taxes imposed by reason of FATCA. 

“Existing Bank” is defined in Section 2.24(c). 

“Existing Credit Agreement” means the Revolving Credit Facility Agreement, dated as of April 2, 2013, among the Company, the
banks party thereto and the agents referred to therein. 
 “Existing Termination Date” is defined in Section
2.25(a). 
 “Extended Termination Date” is defined in Section 2.25(a). 

“Extension Date” is defined in Section 2.25(d). 

  
 7 

 “FATCA” means Sections 1471 through 1474 of the Code as of the date of this
Agreement (including any amendment or successor to any such Section so long as such amendment or successor is substantially similar or comparable to the reporting and withholding (and related) obligations of Sections 1471 through 1474 of the Code as
of the date of this Agreement and not materially more onerous to comply with), any applicable Treasury regulation promulgated thereunder or published administrative guidance or any other judicial interpretations thereof implementing such Sections
whether any thereof are in existence as of the date of this Agreement or promulgated or published thereafter and any agreements entered into pursuant to Section 1471(b)(1) of the Code and any intergovernmental agreements implementing the foregoing.

 “Federal Funds Effective Rate” means, for any day, an interest rate per annum equal to the rate calculated by the New
York Fed based on such day’s (or, if such day is not a Business Day, the most recently occurring Business Day) federal funds transactions by depository institutions (as determined in such manner as the New York Fed shall set forth on its public
website from time to time) and published on the next succeeding Business Day by the New York Fed as the federal funds effective rate. 

“Financial Report Certificate” means a certificate substantially in the form of Exhibit D. 

“Financial Statements” means balance sheets, income and loss statements, statements of stockholders’ equity, and
statements of cash flow prepared in accordance with GAAP and in comparative form to the corresponding period of the preceding fiscal year. 

“Foreign Bank” is defined in Section 2.18. 

“GAAP” means generally accepted accounting principles in the United States which are applicable as of the date in question
for the purpose of the definition of “Financial Statements.” 
 “Governmental Authority” means the
government of the United States of America, any other nation or any political subdivision thereof, whether state or local, and any agency, authority, instrumentality, regulatory body, court, central bank or other entity exercising executive,
legislative, judicial, taxing, regulatory or administrative powers or functions of or pertaining to government. 
 “Impacted
Interest Period” is defined in the definition of “LIBO Rate”. 
 “Increased Facility Activation Notice”
means a notice substantially in the form of Exhibit H-1. 
 “Increased Facility Bank” is defined in Section 2.24(c). 

“Increased Facility Closing Date” means any Business Day designated as such in an Increased Facility Activation Notice. 

“Indemnified Taxes” means (a) Taxes other than Excluded Taxes and (b) Other Taxes. 

“Index Debt” means senior, unsecured, non-credit enhanced debt with an original term of longer than one year issued by the
Company. 
 “Index Debt Rating” means, as of any date, the rating that has been most recently announced by S&P and
Moody’s for the Index Debt of the Company. For purposes of the foregoing, (a) if only one of S&P and Moody’s shall have in effect an Index Debt Rating, the Applicable Rate shall be determined by reference to the available rating;
(b) if the Index Debt Ratings established by S&P and Moody’s shall fall within different levels, the Applicable Rate shall be based upon the higher rating, except that if the 

  
 8 

 
difference is two or more levels, the Applicable Rate shall be based on the rating that is one level below the higher rating; (c) if any Index Debt Rating established by S&P or Moody’s
shall be changed, such change shall be effective as of the date on which such change is first announced publicly by the rating agency making such change; (d) if S&P or Moody’s shall change the basis on which ratings are established, each
reference to the rating for the Index Debt announced by S&P or Moody’s, as the case may be, shall refer to the then equivalent rating by S&P or Moody’s, as the case may be; and (e) if neither S&P nor Moody’s shall have in
effect an Index Debt Rating, the Applicable Rate shall be set in accordance with the lowest level rating and highest percentage rate set forth in the table in the definition of “Applicable Rate”. 

“Initial Issuing Banks” means, collectively, JPMorgan Chase Bank, N.A., Citibank, N.A. and Barclays Bank PLC. 

“Interest Payment Date” means (i) with respect to any Alternate Base Loan, each Quarterly Payment Date, or if earlier the
Termination Date or the date of prepayment of such Loan or conversion of such Loan to a Eurodollar Loan and (ii) with respect to any Eurodollar Loan, the last day of the Interest Period applicable thereto and, in the case of a Eurodollar Loan with
an Interest Period longer than three months each day that would have been the Interest Payment Date for such Loan had successive Interest Periods of three months been applicable to such Loan, or if earlier, the Termination Date or the date of
prepayment of such Loan or conversion of such Loan to an Alternate Base Loan. 
 “Interest Period” means, as to any
Eurodollar Loan, the period commencing on the date of such Loan and ending on the numerically corresponding day (or if there is no corresponding day, the last day) in the calendar month that is one, two, three or six, or, if agreed to by all Banks,
twelve months thereafter, as the Company may elect; provided, that (x) if any Interest Period would end on a day which shall not be a Business Day, such Interest Period shall be extended to the next succeeding Business Day unless, with
respect to Eurodollar Loans only, such next succeeding Business Day would fall in the next calendar month, in which case such Interest Period shall end on the next preceding Business Day, and (y) no Interest Period may be selected that ends later
than the Termination Date. Interest shall accrue from and including the first day of an Interest Period to but excluding the last day of such Interest Period. 

“Interpolated Rate” means, at any time, the rate per annum (rounded to the same number of decimal places as the Screen Rate)
determined by the Paying Agent (which determination shall be conclusive and binding absent manifest error) to be equal to the rate that results from interpolating on a linear basis between: (a) the Screen Rate for the longest period for which that
Screen Rate is available in dollars that is shorter than the Impacted Interest Period and (b) the Screen Rate for the shortest period for which that Screen Rate is available for dollars that is longer the Impacted Interest Period, in each case, as
of 11:00 a.m., London time (or as soon thereafter as practicable), two Business Days before the first day of such Impacted Interest Period. 

“Issuing Bank” means each Initial Issuing Bank and each other Bank approved by the Company and that has agreed in writing to
act as an “Issuing Bank” hereunder. Each reference herein to “the Issuing Bank” shall be deemed to be a reference to the relevant Issuing Bank. 

“Laws” means all applicable statutes, laws, treaties, ordinances, rules, regulations, orders, writs, injunctions, decrees,
judgments, or opinions of any Tribunal. 
 “L/C Commitment” means $300,000,000. 

  
 9 

 “L/C Obligations” means at any time, an amount equal to the sum of (a) the
aggregate then undrawn and unexpired amount of the then outstanding Letters of Credit, if any, and (b) the aggregate amount of drawings under Letters of Credit that have not then been reimbursed pursuant to Section 3.5. 

“L/C Participants” means the collective reference to all the Banks other than the Issuing Bank. 

“Letters of Credit” is defined in Section 3.1(a). 

“LIBO Rate” means, for any Eurodollar Loan for any Interest Period therefor, a rate per annum equal to the London interbank
offered rate as administered by the ICE Benchmark Administration (or any other Person that takes over the administration of such rate) for dollars for a period equal in length to such Interest Period as displayed on pages LIBOR01 or LIBOR02 of the
Reuters Screen that displays such rate (or, in the event such rate does not appear on either of such Reuters pages, on any successor or substitute page on such screen that displays such rate, or on the appropriate page of such other information
service that publishes such rate from time to time as selected by the Paying Agent in its reasonable discretion; in each case, the “Screen Rate”) at approximately 11:00 a.m., London time (or as soon thereafter as practicable), two
Business Days before the first day of such Interest Period; provided that if the Screen Rate shall be less than zero, such rate shall be deemed to be zero for purposes of this Agreement; provided, further, that if the Screen
Rate shall not be available at such time for such Interest Period (an “Impacted Interest Period”) with respect to dollars, then the LIBO Rate shall be the Interpolated Rate at such time (provided that if the Interpolated Rate shall
be less than zero, such rate shall be deemed to be zero for purposes of this Agreement). The LIBO Rate for the Interest Period for each Eurodollar Loan comprising part of the same Borrowing shall be determined by the Paying Agent. 

“Lien” means any mortgage, lien, pledge, adverse claim, charge, security interest or other encumbrance in or on, or any
interest or title of any vendor, lessor, lender or other secured party to or of any Person under, any conditional sale or other title retention agreement or lease with respect to, any Property or asset of such Person. For avoidance of doubt,
the filing of a Uniform Commercial Code financing statement by a Person that is not entitled or authorized in accordance with the applicable Uniform Commercial Code to file such financing statement shall not, in and of itself, constitute a Lien.

 “Litigation” means any action conducted, pending, or threatened by or before any Tribunal. 

“Loan” means a Committed Loan, a Eurodollar Loan, or an Alternate Base Loan. 

“Loan Papers” means (i) this Agreement, certificates delivered pursuant to this Agreement and exhibits and schedules hereto,
(ii) any notes, security documents, guaranties, and other agreements in favor of the Agents and Banks, or any or some of them, ever delivered in connection with this Agreement, (iii) any Letters of Credit and (iv) all renewals, extensions, or
restatements of, or amendments or supplements to, any of the foregoing. 
 “Majority Banks” means, at any time, Banks
having Revolving Credit Exposures and unused Commitments representing more than 50% of the sum of the total Revolving Credit Exposures and unused Commitments at such time. 

“Material Adverse Change” or “Material Adverse Effect” means an act, event or circumstance which materially
and adversely affects the business, financial condition or results of operations of the Company and its Subsidiaries on a consolidated basis or the ability of the Company to perform its obligations under this Agreement or any Loan Paper. 

  
 10 

 “Material Subsidiary” means, at any time, any Subsidiary of the Company having
at such time (i) total assets, as of the last day of the most recently ended fiscal quarter for which the Company’s annual or quarterly Financial Statements have been most recently required to have been delivered pursuant to Section 6.01,
having a net book value greater than or equal to 10% of the total assets of the Company and all of its Subsidiaries on a consolidated basis, (ii) Adjusted Pre-Tax Income, as of the last day of the most recently ended fiscal quarter for which the
Company’s annual or quarterly Financial Statements have been most recently required to have been delivered pursuant to Section 6.01, greater than or equal to 10% of the total Adjusted Pre-Tax Income of the Company and all of its Subsidiaries on
a consolidated basis or (iii) any Pool Assets. 
 “Moody’s” means Moody’s Investors Service, Inc. 

“Net Interest Expense” means interest expense minus interest income, excluding in either case capitalized interest, but
including payments in the nature of interest under capital leases if and to the extent characterized as such in accordance with GAAP. 

“New Bank” is defined in Section 2.24(b). 

“New Bank Supplement” is defined in Section 2.24(b). 

“New York Fed” means the Federal Reserve Bank of New York. 

“New York Fed Bank Rate” means for any day, the greater of (a) the Federal Funds Effective Rate in effect on such day and (b)
the Overnight Bank Funding Rate in effect on such day; provided that if both such rates are not so published for any day (or, if such day is not a Business Day, the most recently occurring Business Day), the term “New York Fed Bank
Rate” means the rate quoted for such day (or, if such day is not a Business Day, the most recently occurring Business Day) for a federal funds transaction at 11:00 a.m. New York City time on such day (or Business Day, as the case may be)
received by the Paying Agent from a Federal funds broker of recognized standing selected by it; provided, further, that if any of the aforesaid rates shall be less than zero, such rate shall be deemed to be zero for purposes of this
Agreement. 
 “Non-Compliant Pool Aircraft” is defined in Section 6.4(c). 

“Non-Extending Bank” is defined in Section 2.25(b). 

“Note” means a promissory note which a Bank may require the Company to execute in accordance with Section 2.7(b),
payable to the order of such Bank, in substantially the form of Exhibit B hereto, with the blanks appropriately completed, to evidence the aggregate indebtedness of the Company to such Bank resulting from the Committed Loans made by such Bank
to the Company, together with all modifications, extensions, renewals, and rearrangements thereof. 
 “Notice Deadline” is
defined in Section 2.25(b). 
 “Notice of Committed Borrowing” is defined in Section 2.2. 

“Obligation” means all present and future indebtedness, obligations, and liabilities, and all renewals, extensions, and
modifications thereof, owed to the Agents and Banks, or any or some of them, by the Company, arising pursuant to any Loan Paper, together with all interest thereon and costs, expenses, and reasonable attorneys’ fees incurred in the enforcement
or collection thereof. 

  
 11 

 “OECD” means the Organization for Economic Cooperation and Development as
constituted on the date hereof (excluding Mexico, Poland and the Czech Republic). 
 “Officer’s Certificate” means a
certificate signed in the name of the Company by either its Chairman, its Chief Executive Officer, its Chief Financial Officer, its President, one of its Vice Presidents, its Treasurer, or its Assistant Treasurer, in each case without personal
liability. 
 “Original Termination Date” means the fifth anniversary of the Effective Date. 

“Other Connection Taxes” means with respect to the Paying Agent, any Bank or any Issuing Bank, as the case may be, Taxes
imposed as a result of a present or former connection between the Paying Agent, such Bank or such Issuing Bank, as the case may be, and the jurisdiction imposing such Taxes (other than a connection arising solely from the Paying Agent, such Bank or
such Issuing Bank having executed, delivered, enforced, become a party to, performed its obligations under, received payments under, received or perfected a security interest under, or engaged in any other transaction pursuant to, or enforced, any
Loan Papers, or, in each case in accordance with and subject to the provisions of this Agreement, sold, assigned or participated an interest in any Loan Papers). 

“Other Taxes” means any present or future stamp, documentary, intangible, recording, filing or similar excise or property
Taxes that arise from any payment made under, from the execution, delivery performance, enforcement or registration of, or from the registration, receipt or perfection of a security interest under, or otherwise with respect to, this Agreement
or any Loan Papers, except any such Taxes that are Other Connection Taxes (other than Other Connection Taxes imposed with respect to an assignment under Section 2.23). 

“Overnight Bank Funding Rate” means, for any day, the rate comprised of both overnight federal funds and overnight Eurodollar
borrowings by U.S.–managed banking offices of depository institutions (as such composite rate shall be determined by the New York Fed as set forth on its public website from time to time) and published on the next succeeding Business Day by the
New York Fed as an overnight bank funding rate (from and after such date as the New York Fed shall commence to publish such composite rate). 

“Paying Agent” means JPMorgan Chase Bank, N.A. or any successor to JPMorgan Chase Bank, N.A. appointed in accordance with the
provisions of Section 8.6, in each case, as the paying agent for the Banks under this Agreement and the other Loan Papers. 

“Participant Register” is defined in Section 9.11(b). 

“Permitted Liens” means: (a) Liens for taxes, assessments and governmental charges or levies which either are not yet due and
payable or are being contested in good faith by appropriate proceedings and for which adequate reserves are established in accordance with GAAP; (b) Liens securing judgments, but only to the extent, for an amount and for a period not resulting in an
Event of Default under Section 7.1(d); (c) Liens arising under this Agreement; (d) Liens constituting normal operational usage of the affected Property, including charter, third party maintenance, storage, leasing, pooling
or interchange thereof; and (e) Liens imposed by law such as materialmen’s, mechanics’, carriers’, workmen’s and repairmen’s Liens and other similar Liens arising in the ordinary course of business securing obligations that
(i) are not overdue for a period of more than 30 days, provided that no enforcement, collection, execution, levy or foreclosure proceeding shall have been commenced with respect thereto, or (ii) are being contested in good faith and for which
adequate reserves are established in accordance with GAAP. 

  
 12 

 “Person” means and includes an individual, partnership, joint venture,
corporation, trust, limited liability company or other entity, Tribunal, unincorporated organization, or government, or any department, agency, or political subdivision thereof. 

“Plan” means any plan defined in Section 4021(a) of ERISA in respect of which the Company is an “employer” or a
“substantial employer” as such terms are defined in ERISA. 
 “Pool Assets” means assets of the Company and any
of its Wholly Owned Domestic Subsidiaries listed on Schedule II, to the extent modified pursuant to Section 6.12, and shall include only Specified Equipment owned legally by the Company and any of its Wholly Owned Domestic
Subsidiaries. 
 “Prime Rate” is defined in the definition of the term Alternate Base Rate. 

“Principal Office” of the Paying Agent means 500 Stanton Christiana Road, Ops 2, 3rd Floor, Newark, Delaware 19713-2107, or such other office as the Paying Agent may hereafter designate from time to time as its “Principal Office” by notice to the Company and the Banks.

 “Property” means all types of real, personal, tangible, intangible, or mixed property. 

“Quarterly Payment Date” means the 15th day of each March, June, September and December of each year, the first of which
shall be the first such day after the Effective Date. 
 “Register” is defined in Section 9.11(e). 

“Regulation D” means Regulation D of the Board, as the same is from time to time in effect, and all official rulings and
interpretations thereunder or thereof. 
 “Regulatory Change” means, with respect to any Bank, (a) any adoption or change
after the Effective Date of or in United States federal, state or foreign laws, rules, regulations (including Regulation D) or guidelines applying to a class of banks including such Bank, (b) the adoption or making after the Effective Date of any
interpretations, directives or requests applying to a class of banks including such Bank of or under any United States federal, state or foreign laws, rules, regulations or guidelines (whether or not having the force of law) by any Tribunal,
monetary authority, central bank, or comparable agency charged with the interpretation or administration thereof, or (c) any change in the interpretation or administration of any United States federal, state or foreign laws, rules, regulations or
guidelines applying to a class of banks including such Bank by any Tribunal, monetary authority, central bank, or comparable agency charged with the interpretation or administration thereof. 

“Reimbursement Obligation” means the obligation of the Company to reimburse the Issuing Bank pursuant to Section 3.5
for amounts drawn under Letters of Credit. 
 “Relevant Anniversary Date” is defined in Section 2.25(a). 

“Request Date” is defined in Section 2.25(a). 

“Reserve Percentage” of any Bank for the Interest Period for any Eurodollar Loan means the reserve percentage applicable
during such Interest Period under regulations issued from time to time by the Board (or if more than one such percentage shall be so applicable, the daily average of such percentages for those days in such Interest Period during which any such
percentage shall be so applicable) for determining the maximum reserve requirement (including, without limitation, any marginal reserve requirement) for such Bank with respect to liabilities or assets consisting of or including Eurocurrency
Liabilities having a term equal to such Interest Period. 

  
 13 

 “Revolving Credit Exposure” means, with respect to any Bank at any time, the sum
of the outstanding principal amount of such Bank’s Loans and its L/C Obligations at such time. For the purposes of this definition each Bank shall be deemed to hold a pro rata share of the total L/C Obligations based on the
percentage which its Commitment represents of the aggregate Commitments. 
 “Rights” means rights, remedies, powers, and
privileges. 
 “S&P” means Standard & Poor’s Financial Services LLC. 

“Sanctioned Country” means, at any time, a country, region or territory which is itself the subject or target of any
Sanctions (at the time of this Agreement, Crimea, Cuba, Iran, North Korea, Sudan and Syria). 
 “Sanctioned Person” means,
at any time, (a) any Person listed in any Sanctions-related list of designated Persons maintained by the Office of Foreign Assets Control of the U.S. Department of the Treasury or the U.S. Department of State or by the United Nations Security
Council, the European Union or any European Union member state, (b) any Person operating, organized or resident in a Sanctioned Country or (c) any Person owned or controlled by any such Person or Persons described in the foregoing clauses (a) or
(b). 
 “Sanctions” means economic or financial sanctions or trade embargoes imposed, administered or enforced from time to
time by the U.S. government, including those administered by the Office of Foreign Assets Control of the U.S. Department of the Treasury or the U.S. Department of State. 

“Screen Rate” is defined in the definition of “LIBO Rate”. 

“Specified Equipment” means next generation aircraft consisting of the Boeing 737-700, Boeing 737-800 and Boeing 737-900ER models (and any later generation model of any thereof, such as “MAX”) and, as to each such aircraft, up to two spare engines suitable for use on the related airframe. 

“Stated Rate” is defined in Section 9.8. 

“Subsidiary” of a Person means any entity of which an aggregate of more than 50% (in number of votes) of the stock (or
equivalent interests) is owned of record or beneficially, directly or indirectly, by such Person. 
 “Successor Company” is
defined in Section 6.14(a). 
 “Syndication Agent” is defined in the introduction to this Agreement. 

“Taxes” means all present or future taxes, assessments, fees, levies, imposts, duties, deductions, withholdings, assessments
or other similar charges at any time imposed by any Laws or Governmental Authority, including any interest, additions to tax or penalties applicable thereto. 

“Termination Date” means, the earlier of (a) the Original Termination Date, subject to extension thereof pursuant to
Section 2.25, and (b) the date of termination in whole of the Total Commitment pursuant to Section 2.5 or Section 7.2; provided, however, that the Termination Date of any Bank that is a Non-Extending Bank with
respect to any requested extension pursuant to Section 2.25 shall be the Termination Date in effect immediately prior to the applicable Extension Date for all purposes of this Agreement. 

  
 14 

 “Total Commitment” means at any time the aggregate amount of the Banks’
Commitments, as in effect at such time. 
 “Tribunal” means any municipal, state, commonwealth, federal, foreign,
territorial, or other court, governmental body, subdivision, agency, department, commission, board, bureau, or instrumentality. 

“Type” refers to the distinction between Committed Loans that are Alternate Base Loans and Committed Loans that are
Eurodollar Loans. 
 “United States” and “U.S.” each means United States of America. 

“U.S. Tax Compliance Certificate” is defined in Section 2.18. 

“Wholly Owned Domestic Subsidiary” means a Wholly Owned Subsidiary of the Company organized under the laws of any
jurisdiction within the United States. 
 “Wholly Owned Subsidiary” means, as to any Person, any other Person all of the
Capital Stock of which (other than directors’ qualifying shares required by law) is owned by such Person directly and/or through other Wholly Owned Subsidiaries. 

“Withholding Agent” means the Company and the Paying Agent. 

“Write-Down and Conversion Powers” means, with respect to any EEA Resolution Authority, the write-down and conversion
powers of such EEA Resolution Authority from time to time under the Bail-In Legislation for the applicable EEA Member Country, which write-down and conversion powers are described in the EU Bail-In Legislation Schedule. 

Section 1.2 Computation of Time Periods. In this Agreement in the computation of periods of time from a specified date to a
later specified date, the word “from” means “from and including” and the words “to” and “until” each means “to but excluding.” 

ARTICLE II 
 LOANS

 Section 2.1 Commitments. Subject to the terms and conditions and relying upon the representations and warranties
herein set forth, each Bank, severally and not jointly, agrees to make revolving credit loans in dollars to the Company, at any time and from time to time on and after the Effective Date and until the earlier of the Termination Date and the
termination of the Commitment of such Bank in accordance with the terms hereof. Notwithstanding the foregoing, (a) the aggregate principal amount at any time outstanding of all Committed Loans of a Bank shall not exceed such Bank’s
Commitment and (b) the Total Commitment shall be deemed used from time to time to the extent of the L/C Obligations, and such deemed use of the Total Commitment shall be applied to the Banks ratably according to their respective Commitments,
subject, however, to the conditions that (i) at no time shall (A) the sum of (x) the outstanding aggregate principal amount of all Committed Loans made by all Banks and (y) the L/C Obligations exceed (B) the Total Commitment, and (ii) at all times
the outstanding aggregate principal amount of all Committed Loans made by a Bank shall equal the product of (x) the percentage which its Commitment represents of the Total Commitment times (y) the outstanding aggregate principal amount of all
Committed Loans obligated to have been made by all Banks. 

  
 15 

 Within the foregoing limits, the Company may borrow, repay, prepay, and reborrow hereunder, on
and after the Effective Date and prior to the Termination Date, subject to the terms, provisions, and limitations set forth herein. 

Section 2.2 Committed Borrowing Procedure. In order to effect a Committed Borrowing, the Company shall hand deliver, telecopy
or e-mail to the Paying Agent a duly completed request for Committed Borrowing, substantially in the form of Exhibit A hereto (a “Notice of Committed Borrowing”), (i) in the case of Eurodollar Loans, not later than 11:00
a.m., New York City time, three Business Days before the Borrowing Date specified for a proposed Committed Borrowing, and (ii) in the case of Alternate Base Loans, not later than 11:00 a.m., New York City time, on the Business Day which is the
Borrowing Date specified for a proposed Committed Borrowing. Such notice shall be irrevocable and shall in each case refer to this Agreement and specify (x) whether the Loans then being requested are to be Eurodollar Loans, or Alternate Base
Loans, (y) the Borrowing Date of such Loans (which shall be a Business Day) and the aggregate amount thereof (which shall not be less than $10,000,000 and shall be an integral multiple of $1,000,000) and (z) in the case of a Eurodollar Loan, the
Interest Period with respect thereto (which shall not end later than the Termination Date). If no Interest Period with respect to any Eurodollar Loan is specified in any such Notice of Committed Borrowing, then the Company shall be deemed to
have selected an Interest Period of one month’s duration. Promptly, and in any event on the same day the Paying Agent receives a Notice of Committed Borrowing pursuant to this Section 2.3 if such notice is received by 11:00 a.m.,
New York City time on a Business Day and otherwise on the next succeeding Business Day, the Paying Agent shall advise the other Banks of such Notice of Committed Borrowing and of each Bank’s portion of the requested Committed Borrowing by
telecopier or e-mail. Each Committed Borrowing shall consist of Loans of the same Type made on the same day and having the same Interest Period. 

Section 2.3 Refinancings; Conversions 

(a) The Company may refinance all or any part of any Loan with a Loan of the same or a different type made pursuant to Section 2.2,
subject to the conditions and limitations set forth herein and elsewhere in this Agreement. Any Loan or part thereof so refinanced shall be deemed to be repaid in accordance with Section 2.17 with the proceeds of a new Borrowing
hereunder and the proceeds of the new Loan, to the extent they do not exceed the principal amount of the Loan being refinanced, shall not be paid by the Banks to the Paying Agent or by the Paying Agent to the Company pursuant to Section
2.6(c); provided, however, that (i) if the principal amount extended by a Bank in a refinancing is greater than the principal amount extended by such Bank in the Borrowing being refinanced, then such Bank shall pay such difference
to the Paying Agent for distribution to the Banks described in (ii) below, (ii) if the principal amount extended by a Bank in the Borrowing being refinanced is greater than the principal amount being extended by such Bank in the refinancing, the
Paying Agent shall return the difference to such Bank out of amounts received pursuant to (i) above, (iii) to the extent any Bank fails to pay the Paying Agent amounts due from it pursuant to (i) above, any Loan or portion thereof being refinanced
shall not be deemed repaid in accordance with Section 2.17 to the extent of such failure and the Company shall pay such amount to the Paying Agent pursuant to Section 2.17 and (iv) to the extent the Company fails to pay to the Paying
Agent any amounts due in accordance with Section 2.17 as a result of the failure of a Bank to pay the Paying Agent any amounts due as described in (iii) above, the portion of any refinanced Loan deemed not repaid shall be deemed to be
outstanding solely to the Bank which has failed to pay the Paying Agent amounts due from it pursuant to (i) above to the full extent of such Bank’s portion of such refinanced Loan. 

  
 16 

 (b) Subject to the conditions and limitations set forth in this Agreement, the Company shall have
the right from time to time to convert all or part of one Type of Committed Loan into another Type of Committed Loan or to continue all or a part of any Committed Loan that is a Eurodollar Loan from one Interest Period to another Interest Period by
giving the Paying Agent written notice (by means of a Notice of Committed Borrowing) (i) in the case of Eurodollar Loans, not later than 11:00 a.m., New York City time, three Business Days before the date specified for such proposed conversion or
continuation, and (ii) in the case of Alternate Base Loans, not later than 11:00 a.m., New York City time, on the Business Day which is the date specified for such proposed conversion or continuation. Such notice shall specify (A) the proposed
date for conversion or continuation, (B) the amount of the Committed Loan to be converted or continued, (C) in the case of conversions, the Type of Committed Loan to be converted into, and (D) in the case of a continuation of or conversion into a
Eurodollar Loan, the duration of the Interest Period applicable thereto; provided that (1) Eurodollar Loans may be converted only on the last day of the applicable Interest Period, (2) except for conversions to Alternate Base Loans, no
conversion shall be made while a Default or Event of Default has occurred and is continuing and no continuations of any Eurodollar Loan from one Interest Period to another Interest Period shall be made while a Default or Event of Default has
occurred and is continuing, unless such conversion or continuation has been approved by Majority Banks, and (3) each such conversion or continuation shall be in an amount not less than $10,000,000 and shall be an integral multiple of
$1,000,000. All notices given under this Section shall be irrevocable. If the Company shall fail to give the Paying Agent the notice as specified above for continuation or conversion of a Eurodollar Loan prior to the end of the Interest
Period with respect thereto, such Eurodollar Loan shall automatically be converted into an Alternate Base Loan on the last day of the Interest Period for such Eurodollar Loan. 

Section 2.4 Fees. The Company agrees to pay to each Bank, through the Paying Agent, on each Quarterly Payment Date and on the
Termination Date in arrears, in immediately available funds, a commitment fee (a “Commitment Fee”) calculated by multiplying the Applicable Rate by the amount of the average daily Available Revolving Commitment of such Bank during
the preceding three-month period (or shorter period commencing with the Effective Date and/or ending with the Termination Date). All Commitment Fees shall be computed by the Paying Agent on the basis of the actual number of days elapsed in a
year of 360 days, and shall be conclusive and binding for all purposes, absent manifest error. The Commitment Fee due to each Bank shall commence to accrue on the Effective Date and shall cease to accrue on the Termination Date or, if earlier,
the date of the termination of the Commitment of such Bank as provided herein. 
 Section 2.5 Termination and Reduction of
Commitments 
 (a) Subject to Section 2.11(b), the Company may permanently terminate, or from time to time in part permanently
reduce, the Total Commitment, in each case upon at least three Business Days’ prior (or, in the case of a refinancing or new facility with one or more of the Agents, on a same-day basis with) written notice to the Paying Agent (who shall
promptly forward a copy thereof to each Bank). Such notice shall specify the date and the amount of the termination or reduction of the Total Commitment. Each such partial reduction of the Total Commitment shall be in a minimum aggregate
principal amount of $10,000,000 and in an integral multiple of $1,000,000. 
 (b) On the Termination Date the Total Commitment shall be
zero. 
 (c) Each reduction in the Total Commitment pursuant to this Section 2.5 shall be made ratably among the Banks in accordance
with their respective Commitments. Simultaneously with any termination of Commitments pursuant to this Section, the Company shall pay to the Paying Agent for account of the Banks the Commitment Fees on the amount of the Total Commitment so
terminated, accrued through the date of such termination. 

  
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 Section 2.6 Loans 

(a) Each Borrowing made by the Company on any date shall be in an integral multiple of $1,000,000 and in a minimum aggregate principal amount
of $10,000,000. Committed Loans shall be made by the Banks ratably in accordance with their respective Commitments on the Borrowing Date of the Committed Borrowing; provided, however, that the failure of any Bank to make any Loan
shall not in itself relieve any other Bank of its obligation to lend hereunder. 
 (b) Each Committed Loan shall be a Eurodollar Loan or an
Alternate Base Loan, as the Company may request subject to and in accordance with Section 2.2 or Section 2.3(b), as applicable. Each Bank may at its option make any Eurodollar Loan by causing a foreign branch or Affiliate of such
Bank to make such Loan; provided, however, that any exercise of such option shall not affect the obligation of the Company to repay such Loan in accordance with the terms of this Agreement or increase the Company’s obligations to
such Bank hereunder. Loans of more than one interest rate option may be outstanding at the same time; provided, however, that the Company shall not be entitled to request any Loan which, if made, would result in an aggregate of
more than ten separate Interest Periods being outstanding hereunder at any one time. For purposes of the foregoing, Loans having different Interest Periods, regardless of whether they commence on the same date, shall be considered separate
Loans. 
 (c) Subject to Section 2.3, each Bank shall make its portion of each Committed Borrowing on the proposed Borrowing Date
thereof by paying the amount required to the Paying Agent at the Principal Office in immediately available funds not later than 1:00 p.m., New York City time, and the Paying Agent shall by 2:00 p.m., New York City time, credit the amounts so
received to the general deposit account of the Company with the Paying Agent or, if Loans are not made on such date because any condition precedent to a Borrowing herein specified shall not have been met, return the amounts so received to the
respective Banks as soon as practicable; provided, however, if and to the extent the Paying Agent fails to return any such amounts to a Bank on the Borrowing Date for such Borrowing, the Paying Agent shall pay interest on such
unreturned amounts, for each day from such Borrowing Date to the date such amounts are returned to such Bank, at the Federal Funds Effective Rate. 

(d) The outstanding principal amount of each Committed Loan shall be due and payable on the Termination Date. 

Section 2.7 Loan Accounts 

(a) The Loans made by each Bank shall be evidenced by one or more loan accounts or records maintained by such Bank in the ordinary course of
business. Absent manifest error, the loan accounts or records maintained by the Paying Agent and each Bank shall be prima facie evidence of the amount of the Loans made by the Banks to the Company and the interest and payments thereon. Any
failure so to record or any error in doing so shall not, however, limit or otherwise affect the obligation of the Company hereunder to pay any amount owing with respect to the Loans. 

(b) Upon the request of any Bank made through the Paying Agent, the Loans made by such Bank may be evidenced by one or more Notes, instead of
or in addition to loan accounts, and upon any such request the Company shall execute and deliver such Notes to such Bank. Each such Bank shall, and is hereby authorized by the Company to, endorse on the schedule attached to the relevant Note
held by such Bank (or on a continuation of such schedule attached to each such Note and made a part thereof) or in its records relating to such Note an appropriate notation evidencing the date and amount of each Committed Loan of such Bank, each
payment or prepayment of principal of any Committed Loan, and the other information provided for on such schedule. The failure of any Bank to make such a notation or any error therein shall not in any manner affect the obligation of the Company
to repay the Committed Loans made by such Bank in accordance with the terms of the relevant Note. 

  
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 Section 2.8 Interest on Loans 

(a) Subject to the provisions of Section 2.9, each Eurodollar Loan shall bear interest at a rate per annum (computed on the basis of the
actual number of days elapsed over a year of 360 days) equal to the LIBO Rate for the Interest Period in effect for such Loan plus the Applicable Rate. Interest on each Eurodollar Loan shall be payable on each Interest Payment Date
applicable thereto. The applicable LIBO Rate for each Interest Period shall be determined by the Paying Agent, and such determination shall be conclusive absent manifest error. 

(b) Subject to the provisions of Section 2.9, each Alternate Base Loan shall bear interest at the rate per annum equal to the Alternate
Base Rate plus the Applicable Rate (if the Alternate Base Rate is based on the Prime Rate, computed on the basis of the actual number of days elapsed over a year of 365 or 366 days, as the case may be; if the Alternate Base Rate is based on the LIBO
Rate or the Federal Funds Effective Rate, computed on the basis of the actual number of days elapsed over a year of 360 days). Interest on each Alternate Base Loan shall be payable on each Interest Payment Date applicable thereto. The
applicable Alternate Base Rate shall be determined by the Paying Agent, and such determination shall be conclusive absent manifest error. 

(c) The Company shall pay to the Paying Agent for the account of each Bank that has made a Eurodollar Loan to the Company, so long as such
Bank shall be required under regulations of the Board to maintain reserves with respect to liabilities or assets consisting of or including Eurocurrency Liabilities, additional interest on the unpaid principal amount of each such Eurodollar Loan of
such Bank, from the date of such Loan until such principal amount is paid in full, at an interest rate per annum for such number of days during the Interest Period for such Loan as shall be pertinent equal to the remainder obtained by subtracting
(i) the LIBO Rate for such Interest Period from (ii) the rate obtained by dividing such LIBO Rate referred to in clause (i) above by that percentage equal to 100% minus the Reserve Percentage of such Bank for such Interest Period, payable on the
next Interest Payment Date applicable to such Loan. Such additional interest shall be determined by such Bank as, if and to the extent incurred, and shall be payable as aforesaid upon notification thereof by such Bank to the Company through the
Paying Agent. Each determination by a Bank of additional interest under this Section 2.8(c) shall be conclusive and binding for all purposes in the absence of manifest error. 

Section 2.9 Interest on Overdue Amounts. If the Company shall default in the payment of the principal of or interest on any
Loan or any other amount becoming due hereunder, the Company shall on demand from time to time pay interest, to the extent permitted by Law, on such defaulted amount up to (but not including) the date of actual payment (after as well as before
judgment) at a rate per annum equal to (i) in the case of the principal amount of any Eurodollar Loan, 2% above the rate otherwise applicable thereto and (ii) in all other cases, the Agreed Maximum Rate (if the Alternate Base Rate is based on the
Prime Rate, computed on the basis of the actual number of days elapsed over a year of 365 or 366 days, as the case may be; if the Alternate Base Rate is based on the LIBO Rate or the Federal Funds Effective Rate, computed on the basis of the actual
number of days elapsed over a year of 360 days). 
 Section 2.10 Alternate Rate of Interest. In the event, and on each
occasion, on the day two Business Days prior to the commencement of any Interest Period for a Eurodollar Loan that is a Committed Loan, the Paying Agent shall have determined that dollar deposits in the amount of the requested principal amount of
such Eurodollar Loan are not generally available in the Eurodollar Interbank Market, or that dollar deposits are not generally available in the Eurodollar Interbank Market 

  
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for the requested Interest Period, or that the rate at which such dollar deposits are being offered will not adequately and fairly reflect the cost to the Majority Banks of making or maintaining
such Eurodollar Loan during such Interest Period, or that reasonable means do not exist for ascertaining the LIBO Rate, the Paying Agent shall, as soon as practicable thereafter, give telecopy notice of such determination to the Company and the
Banks. In the event of any such determination, any request by the Company for a Eurodollar Loan that is a Committed Loan shall, until the circumstances giving rise to such notice no longer exist, be deemed to be a request for an Alternate Base
Loan. Each determination by the Paying Agent hereunder shall be conclusive absent manifest error. 
 Section 2.11 Prepayment of
Loans 
 (a) Prior to the Termination Date, the Company shall have the right at any time to prepay any Committed Borrowing, in whole or
in part, subject to the requirements of Section 2.14 or Section 2.15 but otherwise without premium or penalty, upon at least five Business Days prior written notice to the Paying Agent; provided, however, that each such
partial prepayment shall be in an integral multiple of $1,000,000 and in a minimum aggregate principal amount of $5,000,000. Each notice of prepayment shall specify the prepayment date and the aggregate principal amount of each Borrowing to be
prepaid, shall be irrevocable and shall commit the Company to prepay such Borrowing by the amount stated therein.
 (b) On the date of any
termination or reduction of the Total Commitment pursuant to Section 2.5(a), the Company shall pay or prepay so much of the Loans as shall be necessary in order that the sum of (x) the aggregate principal amount of the Loans outstanding and
(y) the L/C Obligations will not exceed the Total Commitment following such termination or reduction. Subject to the foregoing, any such payment or prepayment shall be applied to such Borrowing or Borrowings as the Company shall
select. All prepayments under this paragraph shall be subject to Section 2.14 and Section 2.15. 
 (c) All prepayments
under this Section 2.11 shall be accompanied by accrued interest on the principal amount being prepaid to the date of prepayment. 

Section 2.12 Reserve Requirements; Change in Circumstances 

(a) Notwithstanding any other provision herein, if after the date of this Agreement any Regulatory Change or change in any Law (i) shall
subject the Paying Agent, a Bank or an Issuing Bank to any Taxes (other than (w) Indemnified Taxes, (x) Taxes described in clauses (a), (b), (c) and (e) of Excluded Taxes, (y) Other Taxes and (z) Other Connection Taxes on gross or net income,
profits or revenue (including value-added or similar Taxes)) on its loans, loan principal, letters of credit, commitments, or other obligations, or its deposits, reserves, other liabilities or capital attributable thereto, (ii) shall impose, modify,
or deem applicable any reserve, special deposit, compulsory loan, insurance charge or similar requirement with respect to any Eurodollar Loan against assets of, deposits with or for the account of, or credit extended by, such Bank under this
Agreement (without duplication of any amounts paid pursuant to Section 2.8(c)), or (iii) with respect to any Eurodollar Loan, shall impose on such Bank or the Eurodollar Interbank Market any other condition, cost or expense affecting this
Agreement or any Eurodollar Loan made by such Bank, and the result of any of the foregoing shall be to materially increase the actual cost to such Bank (or such Paying Agent or Issuing Bank in the case of (i)) of maintaining its Commitment or of
making, converting to, continuing or maintaining any Eurodollar Loan or to materially reduce the amount of any sum received or receivable by such Bank (or such Paying Agent or Issuing Bank in the case of (i)) hereunder (whether of principal,
interest, or otherwise) in respect thereof, then the Company shall pay to the Paying Agent for the account of such Bank (or such Paying Agent or Issuing Bank in the case of (i)), within ten days following delivery to the Company of the certificate
specified in paragraph (c) below by such Bank (or such Paying Agent or Issuing Bank in the 

  
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case of (i)), such additional amount or amounts as will reimburse such Bank (or such Paying Agent or Issuing Bank in the case of (i)) for such increase or reduction to such Bank (or such Paying
Agent or Issuing Bank in the case of (i)) to the extent reasonably allocable to this Agreement. 
 (b) If any Bank shall have determined in
good faith that any Regulatory Change regarding capital or liquidity requirements or compliance by any Bank (or its parent or any lending office of such Bank) with any request or directive issued subsequent to the Effective Date regarding capital or
liquidity requirements (whether or not having the force of Law) of any Tribunal, monetary authority, central bank, or comparable agency, has or would have the effect of reducing the rate of return on such Bank’s (or its parent’s) capital
as a consequence of its obligations hereunder to a level below that which such Bank (or its parent) could have achieved but for such Regulatory Change, or compliance (taking into consideration such Bank’s policies with respect to capital
adequacy or liquidity) by an amount deemed by such Bank to be material, then from time to time, the Company shall pay to the Paying Agent for the account of such Bank, within ten days following delivery to the Company of the certificate specified in
paragraph (d) below by such Bank, such additional amount or amounts as will reimburse such Bank (or its parent) for such reduction. 
 (c)
Notwithstanding anything herein to the contrary, (i) all requests, rules, guidelines, requirements and directives promulgated by the Bank for International Settlements, the Basel Committee on Banking Supervision (or any successor or similar
authority) or by United States or foreign regulatory authorities, in each case pursuant to Basel III, and (ii) the Dodd-Frank Wall Street Reform and Consumer Protection Act and all requests, rules, guidelines, requirements and directives thereunder
or issued in connection therewith or in implementation thereof, shall in each case be deemed to be a Regulatory Change and a change in Law, regardless of the date enacted, adopted or issued. 

(d) Each Bank or the Paying Agent or each Issuing Bank shall notify the Company of any event occurring after the date hereof entitling such
Bank to compensation under paragraph (a) or (b) of this Section 2.12 (together with a good faith estimate of the amounts it would be entitled to claim in respect of such event) as promptly as practicable, but in any event on or before the
date which is 60 days after the related Regulatory Change, change in any Law or other event; provided that (i) if such Bank or the Paying Agent or such Issuing Bank fails to give such notice by such date, such Bank or the Paying Agent or such
Issuing Bank shall, with respect to compensation payable pursuant to paragraph (a) or (b) of this Section 2.12 in respect of any costs resulting from such Regulatory Change, change in any Law or other event, only be entitled to payment under
paragraph (a) or (b) of this Section 2.12 for costs incurred from and after the date of such notice and (ii) such Bank or the Paying Agent or such Issuing Bank will take such reasonable actions, if any (including the designation of a
different Applicable Lending Office for the Loans of such Bank affected by such event) to avoid the need for, or reduce the amount of, such compensation so long as such actions will not, in the reasonable opinion of such Bank or the Paying Agent or
such Issuing Bank, be materially disadvantageous to such Bank or the Paying Agent or such Issuing Bank, as the case may be. A certificate of a Bank or the Paying Agent or such Issuing Bank setting forth in reasonable detail (i) the Regulatory
Change, change in any Law or other event giving rise to any costs, (ii) such amount or amounts as shall be necessary to reimburse such Bank or the Paying Agent or such Issuing Bank (or participating banks or other entities pursuant to Section
9.11) as specified in paragraph (a) or (b) of this Section 2.12, as the case may be, and (iii) the calculation of such amount or amounts, shall be delivered to the Company (with a copy to the Paying Agent) promptly after such Bank or the
Paying Agent or such Issuing Bank determines it is entitled to payment under this Section 2.12, and shall be conclusive and binding absent manifest error. In preparing such certificate, such Bank or the Paying Agent or such Issuing Bank
may employ such assumptions and allocations of costs and expenses as it shall in good faith deem reasonable and may use any reasonable averaging and attribution method. 

  
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 (e) In the event any Bank shall seek payment pursuant to this Section 2.12 or the events
contemplated under Section 2.10 or Section 2.13 shall have occurred with respect to any Bank, the Company shall have the right to replace such Bank with, and add as “Banks” under this Agreement in place thereof, one or more
assignees as provided in Section 2.23(b). 
 (f) Without prejudice to the survival of any other obligations of the Company hereunder,
the obligations of the Company under this Section 2.12 shall survive for one year after the termination of this Agreement and/or the payment or assignment of any of the Loans or Notes. 

Section 2.13 Change in Legality 

(a) Notwithstanding anything to the contrary herein contained, if any Regulatory Change shall make it unlawful for any Bank to make or maintain
any Eurodollar Loan or to give effect to its obligations in respect of Eurodollar Loans as contemplated hereby, then, by prompt written notice to the Company and to the Paying Agent, such Bank may: 

(i) declare that Eurodollar Loans will not thereafter be made by such Bank hereunder, whereupon the Company shall be prohibited
from requesting Eurodollar Loans from such Bank hereunder unless such declaration is subsequently withdrawn; and 
 (ii) if
such unlawfulness shall be effective prior to the end of any Interest Period of an outstanding Eurodollar Loan, require that all outstanding Eurodollar Loans with such Interest Periods made by it be converted to Alternate Base Loans, in which event
(A) all such Eurodollar Loans shall be automatically converted to Alternate Base Loans as of the effective date of such notice as provided in paragraph (b) below and (B) all payments and prepayments of principal which would otherwise have been
applied to repay the converted Eurodollar Loans shall instead be applied to repay the Alternate Base Loans resulting from the conversion of such Eurodollar Loans. 

(b) For purposes of this Section 2.13, a notice to the Company (with a copy to the Paying Agent) by any Bank pursuant to paragraph (a)
above shall be effective on the date of receipt thereof by the Company. Any Bank having furnished such a notice agrees to withdraw the same promptly following any Regulatory Change that makes it lawful for such Bank to make and maintain
Eurodollar Loans. 
 (c) If, with respect to any Bank, a condition arises or an event occurs which would, or would upon the giving of
notice, result in the payment of amounts pursuant to Section 2.12 or permit such Bank, pursuant to this Section 2.13, to suspend its obligation to make Eurodollar Loans, such Bank, promptly upon becoming aware of the same, shall notify
the Company thereof and shall take such steps as may reasonably be available to it (including, without limitation, changing its Applicable Lending Office) to mitigate the effects of such condition or event, provided that such Bank shall be
under no obligation to take any step that, in its good faith opinion, would (a) result in its incurring any additional costs in performing its obligations hereunder and under any outstanding Loan (unless the Company has notified such Bank of the
Company’s agreement to reimburse it for the same) or (b) be otherwise adverse to such Bank in a material respect. 
 Section
2.14 Indemnity. The Company shall indemnify each Bank against any loss or reasonable expense which such Bank may sustain or incur as a consequence of (a) any failure by the Company to fulfill on the date of any Borrowing hereunder
the applicable conditions set forth in Article IV, (b) any failure by the Company to borrow hereunder after a Notice of Committed Borrowing pursuant to Article II has been given, (c) any payment, prepayment,
or conversion of a Eurodollar Loan required by any other provision of this Agreement or otherwise made on a date other than the last day of the 

  
 22 

 
applicable Interest Period for any reason, including without limitation the acceleration of outstanding Loans as a result of any Event of Default or (d) any failure by the Company for any reason
(including without limitation the existence of a Default or an Event of Default) to pay, prepay or convert a Eurodollar Loan on the date for such payment, prepayment or conversion, specified in the relevant notice of payment, prepayment or
conversion under this Agreement. The indemnity of the Company pursuant to the immediately preceding sentence shall include, but not be limited to, any loss or reasonable expense sustained or incurred or to be sustained or incurred in
liquidating or employing deposits from third parties acquired to effect or maintain such Loan or any part thereof as a Eurodollar Loan. Such loss or reasonable expense shall include, without limitation, an amount equal to the excess, if any, as
reasonably determined by each Bank of (i) its cost of obtaining the funds for the Loan being paid, prepaid, or converted or not borrowed, paid, prepaid or converted (based on the LIBO Rate) for the period from the date of such payment, prepayment,
or conversion or failure to borrow, pay, prepay or convert to the last day of the Interest Period for such Loan (or, in the case of a failure to borrow, pay, prepay or convert, the Interest Period for the Loan which would have commenced on the date
of such failure to borrow, pay, prepay or convert) over (ii) the amount of interest (as reasonably determined by such Bank) that would be realized by such Bank in reemploying the funds so paid, prepaid, or converted or not borrowed, paid, prepaid or
converted for such period or Interest Period, as the case may be. A certificate of each Bank setting forth any amount or amounts and, in reasonable detail, the computations thereof, which such Bank is entitled to receive pursuant to this
Section 2.14 shall be delivered to the Company (with a copy to the Paying Agent) and shall be conclusive, if made in good faith, absent manifest error. The Company shall pay to the Paying Agent for the account of each Bank the amount
shown as due on any certificate within 30 days after its receipt of the same. The obligations of the Company pursuant to this Section 2.14 shall survive the termination of this Agreement and/or the payment or assignment of any of the
Loans or Notes. 
 Section 2.15 Pro Rata Treatment. Except as permitted under Section 2.8(c), Section 2.12(d)
and Section 2.14 with respect to interest and Section 2.25(e) with respect to principal and interest, (a) each payment or prepayment of principal and each payment of interest with respect to a Committed Borrowing shall be made pro rata
among the Banks in accordance with the respective principal amounts of the Loans extended by each Bank, if any, with respect to such Committed Borrowing, and (b) conversions of Committed Loans to Committed Loans of another Type, continuations of
Committed Loans that are Eurodollar Loans from one Interest Period to another Interest Period, and Committed Loans which are not refinancings of other Loans shall be made pro rata among the Banks in accordance with their respective Commitments. 

Section 2.16 Sharing of Setoffs. Each Bank agrees that if it shall through the exercise of a right of banker’s lien,
setoff, or counterclaim against the Company (pursuant to Section 9.6 or otherwise), including, but not limited to, a secured claim under Section 506 of Title 11 of the United States Code or other security or interest arising from, or in lieu
of, such secured claim, received by such Bank under any applicable Debtor Relief Law or otherwise, obtain payment (voluntary or involuntary) in respect of the Committed Loans held by it (other than pursuant to Section 2.8(c),
Section 2.12, or Section 2.14) as a result of which the unpaid principal portion of the Committed Loans held by it shall be proportionately less than the unpaid principal portion of the Committed Loans held by any other Bank, it
shall be deemed to have simultaneously purchased from such other Bank a participation in the Committed Loans held by such other Bank, so that the aggregate unpaid principal amount of the Committed Loans and participations in Committed Loans pursuant
to this Section 2.16 held by each Bank shall be in the same proportion to the aggregate unpaid principal amount of all Committed Loans then outstanding as the principal amount of the Committed Loans held by it prior to such exercise of
banker’s lien, setoff, or counterclaim was to the principal amount of all Committed Loans outstanding prior to such exercise of banker’s lien, setoff, or counterclaim; provided, however, that if any such purchase or purchases
or adjustments shall be made pursuant to this Section 2.16 and the payment giving rise thereto shall thereafter be recovered, such purchase or purchases or adjustments shall be rescinded to the extent of such

  
 23 

 
recovery and the purchase price or prices or adjustment restored without interest. The Company expressly consents to the foregoing arrangements and agrees that any Bank holding a
participation in a Committed Loan deemed to have been so purchased may exercise any and all rights of banker’s lien, setoff, or counterclaim with respect to any and all moneys owing by the Company to such Bank as fully as if such Bank had made
a Committed Loan directly to the Company in the amount of such participation. 
 Section 2.17 Payments 

(a) The Company shall make each payment hereunder and under any instrument delivered hereunder not later than 12:00 noon (New York City time)
on the day when due in dollars, without setoff or counterclaim, to the Paying Agent at its Principal Office for the account of the Banks, in federal or other immediately available funds. The Paying Agent will promptly thereafter cause to be
distributed like funds relating to the payment of principal of or interest on Committed Loans (other than pursuant to Section 2.8(c), Section 2.12, and Section 2.14) or Commitment Fees ratably to the Banks and like
funds relating to the payment of any other amount payable to any Bank to such Bank for the account of its Applicable Lending Office, in each case to be applied in accordance with the terms of this Agreement. 

(b) Whenever any payment hereunder or under any Note shall be stated to be due on a day other than a Business Day, such payment shall be made
on the next succeeding Business Day, and such extension of time shall in all such cases be included in the computation of payment of interest or Commitment Fee, as the case may be; provided, however, if such extension would cause
payment of interest on or principal of a Eurodollar Loan to be made in the next following calendar month, such payment shall be made on the next preceding Business Day. 

(c) Unless the Paying Agent shall have received notice from the Company prior to the date on which any payment is due to the Banks hereunder
that the Company will not make such payment in full, the Paying Agent may assume that the Company has made or will make such payment in full to the Paying Agent on such date and the Paying Agent may, in reliance upon such assumption, cause to be
distributed to each Bank on such due date an amount equal to the amount then due such Bank. If and to the extent the Company shall not have so made such payment in full to the Paying Agent, each Bank shall repay to the Paying Agent forthwith on
demand such amount distributed to such Bank together with interest thereon, for each day from the date such amount is distributed to such Bank until the date such Bank repays such amount to the Paying Agent, at the Federal Funds Effective Rate. 

Section 2.18 Taxes. (a) Each payment by the Company under this Agreement or any Loan Papers shall be made without withholding for
any Taxes, unless such withholding is required by any Law. If any Withholding Agent determines, in its sole discretion exercised in good faith, that it is so required to withhold Taxes, then such Withholding Agent may so withhold and shall
timely pay the full amount of withheld Taxes to the relevant Governmental Authority in accordance with applicable Law. If such Taxes are Indemnified Taxes, then the amount payable by the Company shall be increased as necessary so that, net of
such withholding (including such withholding applicable to additional amounts payable under this Section), the Paying Agent or applicable Bank (as the case may be) receives the amount it would have received had no such withholding been
made.
 (b) The Company shall timely pay any Other Taxes to the relevant Governmental Authority in accordance with applicable Law. 

(c) As soon as practicable after any payment of Indemnified Taxes by the Company to a Governmental Authority, the Company shall deliver to the
Paying Agent the original or a certified copy of a receipt issued by such Governmental Authority evidencing such payment, a copy of the return reporting such payment or other evidence of such payment reasonably satisfactory to the Paying Agent. 

  
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 (d) The Company shall indemnify the Paying Agent and each Bank, within 30 days after demand
therefor, for the full amount of Indemnified Taxes (including, without limitation, any Indemnified Taxes imposed or asserted on or attributable to amounts payable under this Section 2.18) payable or paid by the Paying Agent or such Bank (or
its beneficial owner), as the case may be, and any reasonable expenses arising therefrom or with respect thereto, whether or not such Indemnified Taxes were correctly or legally imposed or asserted by the relevant Governmental Authority. A
certificate as to the amount of such payment or liability delivered to the Company by a Bank (with a copy to the Paying Agent), or by the Paying Agent on its own behalf or on behalf of a Bank, shall be conclusive, if made in good faith, absent
manifest error. 
 (e) Each Bank shall severally indemnify the Paying Agent, within 10 days after demand therefor, for the full amount of
any Taxes attributable to such Bank that are payable or paid by the Paying Agent, and reasonable expenses arising therefrom or with respect thereto, whether or not such Taxes were correctly or legally imposed or asserted by the relevant Governmental
Authority, but only to the extent that the Company has not already indemnified the Paying Agent for such Indemnified Taxes and without limiting the obligation of the Company to do so. A certificate as to the amount of such payment or liability
delivered to any Bank by the Paying Agent shall be conclusive absent manifest error. For the avoidance of doubt, there shall be no double recovery under this paragraph where the indemnified party has been indemnified for the same loss under a
separate provision of the agreement. 
 (f) (i) Any Bank that is entitled to an exemption from or reduction of any applicable
withholding Tax with respect to payments hereunder or under any other Loan Papers shall deliver to the Company and the Paying Agent, at the time or times requested by the Company or the Paying Agent, such properly completed and executed
documentation prescribed by Law as will permit such payments to be made without withholding or at a reduced rate of withholding. In addition, any Bank, if requested by the Company or the Paying Agent, shall deliver such other documentation
prescribed by Law or reasonably requested by the Company or the Paying Agent as will enable the Company or the Paying Agent to determine whether or not such Bank is subject to any withholding (including backup withholding) or information reporting
requirements. Notwithstanding anything to the contrary in the preceding two sentences, the completion, execution and submission of such forms (other than such documentation set forth in Sections 2.18(f)(ii)(A) through (E) below or any
successor or substantially similar or comparable documentation thereto) shall not be required if in the Bank’s good faith judgment such completion, execution or submission would subject such Bank to any material unreimbursed cost or expense
(or, in the case of a change in Law, any incremental material unreimbursed cost or expense), unless indemnified by the Company in an amount reasonably satisfactory to such Bank, or would materially prejudice the legal or commercial position of such
Bank. If any form or certification previously delivered pursuant to this Section expires or becomes obsolete or inaccurate in any respect with respect to a Bank, such Bank shall promptly (and in any event within 10 days after such expiration,
obsolescence or inaccuracy) notify the Company and the Paying Agent in writing of such expiration, obsolescence or inaccuracy and update the form or certification if it is legally eligible to do so. 

  
 25 

 (ii) Without limiting the generality of the foregoing, any Bank that is not
a “United States person” within the meaning of Section 7701(a)(30) of the Code (a “Foreign Bank”) shall, to the extent it is legally entitled to do so, deliver to the Company and the Paying Agent (in such number of copies
as shall be requested by the recipient) on or prior to the date on which such Foreign Bank becomes a lender under this Agreement (and from time to time thereafter upon the reasonable request of the Company or the Paying Agent), whichever of the
following is applicable: 
  

	 	(A)	duly completed copies of Internal Revenue Service Form W-8BEN or W-8BEN-E, as applicable, claiming eligibility for benefits of an income tax treaty to which the United States of America is a party; 

 

	 	(B)	duly completed copies of Internal Revenue Service Form W-8ECI; 

  

	 	(C)	in the case of a Foreign Bank claiming the benefits of the exemption for portfolio interest under section 881(c) of the Code, (x) a certificate substantially in the Form of Exhibit G-1 to the effect that (i) such
Foreign Bank is not (A) a “bank” within the meaning of section 881(c)(3)(A) of the Code, (B) a “10 percent shareholder” of the Company within the meaning of section 881(c)(3)(B) of the Code, and (C) a “controlled foreign
corporation” described in section 881(c)(3)(C) of the Code, and (ii) the interest payments in question are not effectively connected with the United States trade or business conducted by such Bank (a “U.S. Tax Compliance
Certificate”) and (y) duly completed copies of Internal Revenue Service Form W-8BEN or W-8BEN-E, as applicable;

  

	 	(D)	to the extent a Foreign Bank is not the beneficial owner (for example, where the Foreign Bank is a partnership or participating Bank granting a typical participation), an Internal Revenue Service Form W-8IMY,
accompanied by a Form W-8ECI, W-8BEN or W-8BEN-E, U.S. Tax Compliance Certificate substantially in the form of Exhibit G-2 or G-3 (as applicable), Form W-9, and/or other certification documents from each beneficial owner, as applicable;
provided that, if the Foreign Bank is a partnership (and not a participating Bank) and one or more beneficial owners of such Foreign Bank are claiming the portfolio interest exemption, such Foreign Bank may provide a U.S. Tax Compliance
Certificate substantially in the form of Exhibit G-4 on behalf of each such beneficial owner; or 

  

	 	(E)	any other form prescribed by Law as a basis for claiming exemption from or a reduction in U.S. federal withholding Tax duly completed together with such supplementary documentation as may be prescribed by applicable Law
to permit the Company to determine the withholding or deduction required to be made. 

 (iii) If a payment
made to a Bank under this Agreement or any other Loan Papers would be subject to U.S. Federal withholding Tax imposed by FATCA if such Bank were to fail to comply with the applicable reporting requirements of FATCA (including those contained in
Section 1471(b) or 1472(b) of the Code, as applicable), such Bank shall deliver to the Withholding Agent, at the time or times prescribed by Law and at such time or times reasonably requested by the Withholding Agent, such documentation prescribed
by applicable Law (including as prescribed by Section 1471(b)(3)(C)(i) of the Code) and such additional documentation reasonably requested by the Withholding Agent as may be necessary for the 

  
 26 

 
Withholding Agent to comply with its obligations under FATCA, to determine that such Bank has or has not complied with such Bank’s obligations under FATCA or to determine the amount to
deduct and withhold from such payment. Solely for purposes of this Section 2.18(f)(iii), “FATCA” shall include all amendments made to FATCA after the date of this Agreement. 

(g) If any party determines, in its sole discretion exercised in good faith, that it has received a refund of any Taxes as to which it has
been indemnified pursuant to this Section 2.18 (including additional amounts paid pursuant to this Section 2.18), it shall pay to the indemnifying party an amount equal to such refund (but only to the extent of indemnity payments made
under this Section with respect to the Taxes giving rise to such refund), net of all out-of-pocket expenses (including any Taxes) of such indemnified party and without interest (other than any interest paid by the relevant Governmental Authority
with respect to such refund. Such indemnifying party, upon the request of such indemnified party, shall promptly repay to such indemnified party the amount paid to such indemnified party pursuant to the previous sentence (plus any penalties,
interest or other charges imposed by the relevant Governmental Authority) in the event such indemnified party is required to repay such refund to such Governmental Authority. Notwithstanding anything to the contrary in this Section 2.18(g),
in no event will any indemnified party be required to pay any amount to any indemnifying party pursuant to this Section 2.18(g) if such payment would place such indemnified party in a less favorable position (on a net after-Tax basis) than
such indemnified party would have been in if the indemnification payments or additional amounts giving rise to such refund had never been paid. This Section 2.18(g) shall not be construed to require any indemnified party to make
available its Tax returns (or any other information relating to its Taxes which it deems confidential) to the indemnifying party or any other Person. 

(h) The provisions of this Section 2.18 shall survive the termination of this Agreement and/or the payment or assignment of any of the
Loans or Notes. 
 (i) For purposes of this Section 2.18, the term “Bank” includes any Issuing Bank and the term
“applicable Law” includes FATCA. 
 Section 2.19 Calculation of LIBO Rates. The provisions of this Agreement
relating to calculation of the LIBO Rate are included only for the purpose of determining the rate of interest or other amounts to be paid hereunder that are based upon such rate, it being understood that each Bank shall be entitled to fund and
maintain its funding of all or any part of a Eurodollar Loan as it sees fit. All such determinations hereunder, however, shall be made as if each Bank had actually funded and maintained funding of each Eurodollar Loan through the purchase in
the Eurodollar InterBank Market of one or more eurodollar deposits in an amount equal to the principal amount of such Loan and having a maturity corresponding to the Interest Period for such Loan. 

Section 2.20 Booking Loans. Subject to Section 2.18, any Bank may make, carry, or, transfer Loans at, to, or for the
account of any of its branch offices or the office of any Affiliate. 
 Section 2.21 Quotation of Rates. It is hereby
acknowledged that the Company may call the Paying Agent on or before the date on which notice of a Borrowing is to be delivered by the Company in order to receive an indication of the rate or rates then in effect, but that such projection shall not
be binding upon the Paying Agent or any Bank nor affect the rate of interest which thereafter is actually in effect when the election is made. 

  
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 Section 2.22 Defaulting Banks. Notwithstanding any provision of this Agreement
to the contrary, if any Bank becomes a Defaulting Bank, the Paying Agent shall deliver written notice to such effect, upon the Paying Agent’s obtaining knowledge of such event, to the Company and such Defaulting Bank, and the following
provisions shall apply for so long as such Bank is a Defaulting Bank: 
 (a) Commitment Fees shall cease to accrue with respect to the
Commitment of such Defaulting Bank pursuant to Section 2.4. 
 (b) The Commitment and Revolving Credit Exposure of such
Defaulting Bank shall not be included in determining whether all Banks or the Majority Banks have taken or may take any action hereunder (including any consent to any amendment or waiver pursuant to Section 9.1), provided that any
waiver, amendment or modification requiring the consent of all Banks or each affected Bank which would increase or extend the term of the Commitment of such Defaulting Bank or which affects such Defaulting Bank differently than other affected Banks
shall require the consent of such Defaulting Bank. 
 (c) If any L/C Obligations exist at the time a Bank becomes a Defaulting Bank,
then:
 (i) all or any part of such L/C Obligations shall be reallocated among the non-Defaulting Banks ratably in accordance
with their respective Commitments but only to the extent that (x) the sum of all non-Defaulting Banks’ Revolving Credit Exposures does not then exceed the total of all non-Defaulting Banks’ Commitments, (y) no non-Defaulting Bank’s
Revolving Credit Exposure then exceeds such non-Defaulting Bank’s Commitments and (z) the conditions set forth in Section 4.3 are satisfied at such time; 

(ii) if the reallocation described in clause (i) above cannot, or can only partially, be effected, the Company shall within one
Business Day following notice by the Paying Agent cash collateralize the percentage such Defaulting Bank’s Commitment represents of the Total Commitment of the L/C Obligations (after giving effect to any partial reallocation pursuant to clause
(i) above) in accordance with the procedures set forth in Section 7.2 for so long as such L/C Obligations are outstanding;

(iii) if the Company cash collateralizes any portion of such Defaulting Bank’s L/C Obligations pursuant to this
Section 2.22(c), the Company shall not be required to pay any fees to such Defaulting Bank pursuant to Section 3.3 with respect to such Defaulting Bank’s portion of the L/C Obligations during the period of such
collateralization;
 (iv) if the L/C Obligations of the non-Defaulting Banks are reallocated pursuant to this Section
2.22(c), then the fees payable to the Banks pursuant to Section 3.3 shall be adjusted ratably in accordance with their respective Commitments; and 

(v) if any Defaulting Bank’s L/C Obligations are neither cash collateralized nor reallocated pursuant to this
Section 2.22(c), then, without prejudice to any rights or remedies of the applicable Issuing Bank or any Bank hereunder, all Commitment Fees that otherwise would have been payable to such Defaulting Bank (solely with respect to the
portion of such Defaulting Bank’s Commitment that was utilized by such L/C Obligations) and letter of credit fees payable under Section 3.3 with respect to such Defaulting Bank’s L/C Obligations shall be payable to the
applicable Issuing Bank until such L/C Obligations are cash collateralized and/or reallocated. 
 (d) So long as any Bank is a Defaulting
Bank, no Issuing Bank shall be required to issue, amend or increase any Letter of Credit, unless it is satisfied that the related exposure will be 100% covered by the Commitments of the non-Defaulting Banks and/or cash collateral will be provided by
the Company in accordance with Section 2.22(c), and participating interests in any such newly issued or increased Letter of Credit shall be allocated among non-Defaulting Banks in a manner consistent with Section 2.22(c)(i) (and
Defaulting Banks shall not participate therein). 

  
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 (e) Any amount payable to such Defaulting Bank hereunder (whether on account of principal,
interest, fees or otherwise and including any amount that would otherwise be payable to such Defaulting Bank pursuant to Section 2.16, but excluding amounts payable pursuant to Section 2.23) shall, in lieu of being distributed to such
Defaulting Bank, subject to any applicable requirements of law, be applied at such time or times as may be determined by the Paying Agent (i) first, to the payment of any amounts owing by such Defaulting Bank to the Paying Agent hereunder, (ii)
second, pro rata, to the payment of any amounts owing by such Defaulting Bank to the Issuing Banks hereunder, (iii) third, if so determined by the Paying Agent or requested by an Issuing Bank, held in such account as cash collateral for future
funding obligations of the Defaulting Bank in respect of any existing or future participating interest in any Letter of Credit, (iv) fourth, to the funding of any Loan in respect of which such Defaulting Bank has failed to fund its portion thereof
as required by this Agreement, as determined by the Paying Agent, (v) fifth, if so determined by the Paying Agent and the Company, held in such account as cash collateral for future funding obligations of the Defaulting Bank in respect of any Loans
under this Agreement, (vi) sixth, to the payment of any amounts owing to the Banks or an Issuing Bank as a result of any judgment of a court of competent jurisdiction obtained by any Bank or such Issuing Bank against such Defaulting Bank as a result
of such Defaulting Bank’s breach of its obligations under this Agreement, (vii) seventh, to the payment of any amounts owing to the Company as a result of any judgment of a court of competent jurisdiction obtained by the Company against such
Defaulting Bank as a result of such Defaulting Bank’s breach of its obligations under this Agreement, and (viii) eighth, to such Defaulting Bank or as otherwise directed by a court of competent jurisdiction, provided, with respect to
this clause (viii), that if such payment is (x) a prepayment of the principal amount of any Loans or reimbursement obligations in respect of any drafts paid by an Issuing Bank under any Letters of Credit which a Defaulting Bank has funded its
participation obligations and (y) made at a time when the conditions set forth in Section 4.3 are satisfied, such payment shall be applied solely to prepay the Loans of, and reimbursement obligations owed to, all non-Defaulting Banks pro rata
prior to being applied to the prepayment of any Loans, or reimbursement obligations owed to, any Defaulting Bank. 
 In the event that the Paying Agent,
each Issuing Bank and the Company each agrees that a Defaulting Bank has adequately remedied all matters that caused such Bank to be a Defaulting Bank or upon receipt by the Paying Agent of the confirmation referred to in clause (c) of the
definition of “Defaulting Bank”, as applicable, then on such date such Bank shall purchase at par such portion of the Loans of the other Banks as the Paying Agent shall determine may be necessary in order for such Bank to hold such Loans
ratably in accordance with its Commitment. 
 Section 2.23 Mitigation Obligations; Replacement of Banks.

(a) If any Bank requests compensation under Section 2.12 or Section 2.18, or if the Company is required to pay any additional
amount to any Bank or any Governmental Authority for the account of any Bank pursuant to Section 2.12 or Section 2.18, then such Bank shall use reasonable efforts to designate a different lending office for funding or booking its Loans
hereunder or to assign its rights and obligations hereunder to another of its offices, branches or affiliates, if, in the judgment of such Bank, such designation or assignment (i) would eliminate or reduce amounts payable pursuant to Section
2.12 or Section 2.18 in the future and (ii) would not subject such Bank to any unreimbursed cost or expense and would not otherwise be disadvantageous to such Bank. The Company hereby agrees to pay all reasonable costs and expenses
incurred by any Bank in connection with any such designation or assignment. 
 (b) If (i) any Bank requests compensation under Section
2.12 or Section 2.18, (ii) the Company is required to pay any additional amount to any Bank or any Governmental Authority for the account of any Bank pursuant to Section 2.12 or Section 2.18, (iii) an event
contemplated under Section 2.10 or Section 2.13 shall have occurred with respect to any Bank, (iv) any Bank becomes a Defaulting Bank or (v) any Bank becomes a Non-Extending Bank, then, in each case, the Company may, at its sole

  
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expense and effort, upon notice to such Bank and the Paying Agent, require such Bank to assign and delegate, without recourse (except for certain customary representations and warranties, in
accordance with and subject to the restrictions contained in Section 9.10), all its interests, rights and obligations under this Agreement to an assignee that shall assume such obligations (which assignee may be another Bank, if a Bank
accepts such assignment); provided that (i) the Company shall have received the prior written consent of the Paying Agent, which consent shall not unreasonably be withheld, (ii) such Bank shall have received payment of an amount equal to the
outstanding principal of its Loans and participations in any drafts paid by an Issuing Bank under any Letters of Credit, accrued interest thereon, accrued fees and all other amounts payable to it hereunder, from the assignee (to the extent of such
outstanding principal and accrued interest and fees) or the Company (in the case of all other amounts), (iii) in the case of any such assignment resulting from a claim for compensation under Section 2.12 or Section 2.18 or payments
required to be made pursuant to Section 2.12 or Section 2.18, such assignment will result in a reduction in such compensation or payments and (iv) in the case of any such assignment resulting from a Bank becoming a Non-Extending Bank,
such assignee shall have provided written notice to the Paying Agent that it consents to the requested extension of the Existing Termination Date with respect any Commitments held (or to be held) by it on the applicable Extension Date. A Bank
shall not be required to make any such assignment and delegation if, prior thereto, as a result of a waiver by such Bank or otherwise, the circumstances entitling the Company to require such assignment and delegation cease to apply. 

Section 2.24 Commitment Increases.

(a) The Company and any one or more Banks (including New Banks) may from time to time agree that such Banks shall obtain or increase the
amount of their Commitments by executing and delivering to the Paying Agent an Increased Facility Activation Notice specifying (i) the amount of such increase and (ii) the applicable Increased Facility Closing Date; provided that (i) the
aggregate amount of incremental Commitments obtained after the Effective Date pursuant to this Section 2.24 shall not exceed $500,000,000, (ii) with respect to any Increased Facility Closing Date, the increases effected on such date
pursuant to this Section 2.24 shall be in a minimum amount of $25,000,000 and (iii) no more than four Increased Facility Closing Dates may occur after the Effective Date. No Bank shall have any obligation to participate in any
increase described in this paragraph unless it agrees to do so in its sole discretion. 
 (b) Any additional bank or financial institution
which, with the consent of the Company, each Issuing Bank (which consent shall not be unreasonably withheld) and the Paying Agent (which consent shall not be unreasonably withheld), elects to become a “Bank” under this Agreement in
connection with any increase described in Section 2.24(a) shall execute a New Bank Supplement (each, a “New Bank Supplement”), substantially in the form of Exhibit H-2, whereupon such bank or financial institution
(each, a “New Bank”) shall become a Bank for all purposes and to the same extent as if originally a party hereto and shall be bound by and entitled to the benefits of this Agreement. 

(c) On each Increased Facility Closing Date, each Bank holding Committed Loans prior to giving effect to this Section 2.24(c) (each, an
“Existing Bank”) shall be deemed to have assigned to each Bank participating in the relevant Commitment increase (each, an “Increased Facility Bank”), and each such Increased Facility Bank shall be deemed to have
purchased from each Existing Bank, at the principal amount thereof (together with accrued interest), such interests in the Committed Loans and participations in Letters of Credit outstanding on such date as shall be necessary in order that, after
giving effect to all such assignments and purchases, such Committed Loans and participations in Letters of Credit will be held by all the Banks (including such Increased Facility Banks) ratably in accordance with the percentage which its Commitment
represents of the Total Commitment after giving effect to the increase to the Commitments on such Increased Facility Closing Date. In furtherance of the foregoing, on such Increased Facility Closing Date, (i) each Increased Facility Bank agrees
to make payments to the 

  
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Paying Agent for the benefit of the Existing Banks in an amount equal to the principal amount (together with accrued interest) of the interests in the Committed Loans and funded participations in
any Letters of Credit relating to any unreimbursed drawings thereunder deemed to have been purchased by such Increased Facility Bank on such Increased Facility Closing Date pursuant to the immediately preceding sentence and (ii) each Existing
Bank agrees to accept payments in an amount equal to the principal amount (together with accrued interest) of the interests in the Committed Loans and funded participations in any Letters of Credit relating to any unreimbursed drawings thereunder
deemed to have been assigned by such Existing Bank on such Increased Facility Closing Date pursuant to the immediately preceding sentence. 

(d) The effectiveness of any increase to the Commitments pursuant to this Section 2.24 shall be subject to the satisfaction of the
following conditions precedent: (i) no Default or Event of Default shall have occurred and be continuing immediately prior to, and immediately after, giving effect to such increase to the Commitments, (ii) the representations and warranties
contained in Article V shall be correct in all material respects (or, to the extent subject to materiality or Material Adverse Effect qualifiers, in all respects) on and as of the date of such increase to the Commitments (or, if any such
representation or warranty is expressly stated to have been made as of a specific date, as of such specific date), immediately prior to, and after giving effect to, such increase to the Commitments, as though made on and as of such date, (iii) on a
pro forma basis after giving effect to (x) such increase to the Commitments (assuming such incremental Commitments are fully drawn) and (y) any permanent repayment of Debt after the last day of the most recently ended fiscal quarter for which the
Company’s annual or quarterly Financial Statements have been most recently required to have been delivered pursuant to Section 6.01 (assuming, for such purpose, that (A) such increase to the Commitments (and the full drawing thereof) and any
such permanent repayment of Debt occurred on the first day of the four fiscal quarter period for which the Company’s annual or quarterly Financial Statements have been most recently required to have been delivered pursuant to Section 6.01 and
(B) such incremental Commitments had been borrowed as Eurodollar Loans with successive one-month Interest Periods during the four fiscal quarter period for which the Company’s annual or quarterly Financial Statements have been most recently
required to have been delivered pursuant to Section 6.01), the Coverage Ratio shall not be less than 1.25 to 1.0 and (iv) the Company shall have delivered such legal opinions, board resolutions, certificates and other documents reasonably requested
by the Paying Agent in connection with such increase to the Commitments. 
 Section 2.25 Extension of the Termination Date.

(a) The Company may, by notice (the date of such notice, the “Request Date”) to the Paying Agent (who shall promptly notify
the Banks) not earlier than 60 days and not later than 30 days prior to any anniversary of the Effective Date (each a “Relevant Anniversary Date”), request that each Bank extend such Bank’s Termination Date for an additional
year from the Termination Date then in effect hereunder (the “Existing Termination Date”; any anniversary of the Existing Termination Date to which Commitments shall be extended being called the “Extended Termination
Date”); provided that the Company shall not make more than two such requests during the term of this Agreement. 
 (b) Each
Bank, acting in its sole and individual discretion, shall, by written notice to the Paying Agent given not later than the date that is 20 days following the Request Date (the “Notice Deadline”), advise the Paying Agent whether or
not such Bank agrees to such extension (and each Bank that determines not to so extend its Termination Date (a “Non-Extending Bank”) shall notify the Paying Agent of such fact promptly after such determination (but in any event no
later than the Notice Deadline)) and any Bank that does not so advise the Paying Agent on or before the Notice Deadline shall be deemed to be a Non-Extending Bank. The election of any Bank to agree to such extension shall not obligate any other
Bank to so agree. Promptly following the Notice Deadline, the Paying Agent shall notify the Company of each Bank’s determination under this Section.

  
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 (c) The Company shall have the right on or before the Relevant Anniversary Date to replace each
Non-Extending Bank with, and add as “Banks” under this Agreement in place thereof, one or more assignees with Commitments terminating on the Extended Termination Date (each, an “Additional Commitment Bank”) as provided in
Section 2.23(b), each of which Additional Commitment Banks shall have entered into an Assignment and Assumption pursuant to which such Additional Commitment Bank shall undertake a Commitment of such Non-Extending Bank at par (and, if any such
Additional Commitment Bank is already a Bank, its Commitment of such Non-Extending Bank shall be in addition to such Bank’s Commitment hereunder on such date). 

(d) If (and only if) the aggregate Commitments of the Banks that have agreed to so to extend their Termination Date pursuant to this
Section 2.25 and the additional Commitments of the Additional Commitment Banks shall be more than 50% of the aggregate amount of the Commitments in effect immediately prior to the Relevant Anniversary Date, then, effective as of the Relevant
Anniversary Date (each such effective date, an “Extension Date”), the Termination Date of each extending Bank and of each Additional Commitment Bank shall be extended to the Extended Termination Date (except that, if such date is
not a Business Day, such Extended Termination Date shall be the immediately preceding Business Day), so long as: (i) at the time of and immediately after giving effect to such extension, no Default or Event of Default shall have occurred and be
continuing and (ii) the representations and warranties contained in Article V shall be correct in all material respects (or, to the extent subject to materiality or Material Adverse Effect qualifiers, in all respects) on and as of the date of
such extension (or, if any such representation or warranty is expressly stated to have been made as of a specific date, as of such specific date), immediately prior to, and after giving effect to, such extension, as though made on and as of such
date. 
 (e)    

(i) Any Non-Extending Bank may, by written notice to the Paying Agent, at any time after the relevant Extension Date and prior
to the applicable Existing Termination Date, elect to extend its Termination Date to the Extended Termination Date and, upon the Paying Agent’s receipt of such written notice from any Non-Extending Bank, (x) the Termination Date of such Bank
shall be automatically extended to the Extended Termination Date (except that, if such date is not a Business Day, such Extended Termination Date shall be the immediately preceding Business Day) and (y) such Bank shall no longer be a Non-Extending
Bank with respect to the applicable extension. The Paying Agent shall promptly give notice to the Company of any such extension pursuant to this Section 2.21(e)(i). 

(ii) On the Termination Date applicable to the Loans of any Non-Extending Bank, the Company shall repay any then outstanding
Loans of such Non-Extending Bank (and pay any additional amounts required pursuant to Section 2.14). Following any extension pursuant to this Section 2.25, the L/C Obligations shall continue to be deemed to be held ratably
among the Banks, but on the Termination Date applicable to the Loans of any Non-Extending Bank, the L/C Obligations deemed to be held by such Non-Extending Bank immediately prior to giving effect to such Termination Date shall be ratably
reallocated, to the extent of the unused Commitments of the extending Banks, to such extending Banks (without regard to whether the conditions set forth in Section 4.3 can then be satisfied); provided that the Company shall repay the
Loans of the extending Banks pro rata to the extent necessary to allow the L/C Obligations deemed to be held by such Non-Extending Bank immediately prior to giving effect to such Termination Date to be fully reallocated to the
extending Banks.

  
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 (f) Conflicting Provisions. This Section 2.25 shall supersede any provisions
in Section 2.15 or Section 9.1 to the contrary. 
 ARTICLE III 

LETTERS OF CREDIT 

Section 3.1 L/C Commitment 

(a) Subject to the terms and conditions hereof, each Issuing Bank, in reliance on the agreements of the other Banks set forth in Section
3.4(a), agrees to issue letters of credit (“Letters of Credit”) in dollars for the account of the Company on any Business Day on and after the Effective Date and until the termination of the Commitment of the Issuing Bank in
accordance with the terms hereof, in such form as may be approved from time to time by the Issuing Bank; provided that Barclays Bank PLC shall have no obligation to issue commercial Letters of Credit hereunder; provided,
further, that no Issuing Bank shall issue any Letter of Credit if, after giving effect to such issuance, (i) the L/C Obligations would exceed the L/C Commitment or (ii) the excess of the Total Commitment over the aggregate amount of Loans and
L/C Obligations then outstanding would be less than zero; provided, further, that no Initial Issuing Bank shall at any time be obligated to issue any Letter of Credit if, after giving effect to such issuance, the sum of (x) the
aggregate undrawn and unexpired amount of all then outstanding Letters of Credit issued by such Initial Issuing Bank and (y) the aggregate amount of drawings under Letters of Credit issued by such Initial Issuing Bank that have not then been
reimbursed pursuant Section 3.5 would exceed $100,000,000. Each Letter of Credit shall (i) be denominated in dollars and (ii) expire no later than the earlier of (x) the first anniversary of its date of issuance and (y) the date that is
five Business Days prior to the later of (A) the Original Termination Date and (B) if any Commitments are extended pursuant to Section 2.25, such extended termination date as determined pursuant to Section 2.25, provided that
any Letter of Credit with a one-year term may provide for the renewal thereof for additional one-year periods (which shall in no event extend beyond the date referred to in clause (y) above). 

(b) No Issuing Bank shall at any time be obligated to issue any Letter of Credit if such issuance would conflict with, or cause such Issuing
Bank or any L/C Participant to exceed any limits imposed by, any applicable Laws. 
 Section 3.2 Procedure for Issuance of Letter of
Credit. The Company may from time to time request that the Issuing Bank issue a Letter of Credit by delivering to the Issuing Bank at its address for notices specified herein an Application therefor, completed to the reasonable satisfaction
of the Issuing Bank, and such other certificates, documents and other papers and information as the Issuing Bank may reasonably request. Upon receipt of any Application, the Issuing Bank will process such Application and the certificates,
documents and other papers and information delivered to it in connection therewith in accordance with its customary procedures and shall promptly issue the Letter of Credit requested thereby (but in no event shall the Issuing Bank be required to
issue any Letter of Credit earlier than three Business Days after its receipt of the Application therefor and all such other certificates, documents and other papers and information relating thereto) by issuing the original of such Letter of Credit
to the beneficiary thereof or as otherwise may be agreed by the Issuing Bank and the Company. The Issuing Bank shall furnish a copy of such Letter of Credit to the Company promptly following the issuance thereof. The Issuing Bank shall
promptly furnish to the Paying Agent, which shall in turn promptly furnish to the Banks, notice of the issuance of each Letter of Credit (including the amount thereof). 

  
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 Section 3.3 Fees and Other Charges 

(a) The Company will pay to the Paying Agent for the ratable benefit of the Banks on each Quarterly Payment Date after the issuance date and
on the Termination Date a fee on all outstanding Letters of Credit at a per annum rate equal to the Applicable Rate then in effect with respect to Eurodollar Loans. In addition, the Company shall pay to the Issuing Bank for its own account a
fronting fee at a per annum rate separately agreed upon between the Company and the Issuing Bank (which fee, in the case of Citibank, N.A., is reflected in the fee letter dated June 23, 2016, between the Company and Citibank, N.A. and, in the case
of JPMorgan Chase Bank, N.A., is reflected in the fee letter dated June 23, 2016, between the Company and JPMorgan Chase Bank, N.A.) on the undrawn and unexpired amount of each Letter of Credit, payable quarterly in arrears on each Quarterly Payment
Date after the issuance date and on the Termination Date. Fees payable pursuant this Section 3.3(a) shall be calculated on the basis of a 360-day year for the actual days elapsed. 

(b) In addition to the foregoing fees, the Company shall pay or reimburse the Issuing Bank for such normal and customary costs and expenses as
are incurred or charged by the Issuing Bank in issuing, negotiating, effecting payment under, amending or otherwise administering any Letter of Credit. 

Section 3.4 L/C Participations 

(a) The Issuing Bank irrevocably agrees to grant and hereby grants to each L/C Participant, and, to induce the Issuing Bank to issue Letters
of Credit, each L/C Participant irrevocably agrees to accept and purchase and hereby accepts and purchases from the Issuing Bank, on the terms and conditions set forth below, for such L/C Participant’s own account and risk an undivided
interest, equal to the percentage which such L/C Participant’s Commitment represents of the Total Commitment, in the Issuing Bank’s obligations and rights under and in respect of each Letter of Credit and the amount of each draft paid by
the Issuing Bank thereunder. Each L/C Participant unconditionally and irrevocably agrees with the Issuing Bank that, if a draft is paid under any Letter of Credit for which the Issuing Bank is not reimbursed in full by the Company in accordance
with the terms of this Agreement, such L/C Participant shall pay to the Issuing Bank upon demand a fraction of the amount of such draft, or any part thereof, that is not so reimbursed, equal to the percentage which such L/C Participant’s
Commitment represents of the Total Commitment. 
 (b) If any amount required to be paid by any L/C Participant to the Issuing Bank pursuant
to Section 3.4(a) in respect of any unreimbursed portion of any payment made by the Issuing Bank under any Letter of Credit is paid to the Issuing Bank within three Business Days after the date such payment is due, such L/C Participant shall
pay to the Issuing Bank on demand an amount equal to the product of (i) such amount, times (ii) the daily average Federal Funds Effective Rate during the period from and including the date such payment is required to the date on which such payment
is immediately available to the Issuing Bank, times (iii) a fraction the numerator of which is the number of days that elapse during such period and the denominator of which is 360. If any such amount required to be paid by any L/C Participant
pursuant to Section 3.4(a) is not made available to the Issuing Bank by such L/C Participant within three Business Days after the date such payment is due, the Issuing Bank shall be entitled to recover from such L/C Participant, on demand,
such amount with interest thereon calculated from such due date at the rate per annum applicable to Alternate Base Loans. A certificate of the Issuing Bank submitted to any L/C Participant with respect to any amounts owing under this Section
shall be conclusive in the absence of manifest error. 

  
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 (c) Whenever, at any time after the Issuing Bank has made payment under any Letter of Credit and
has received from any L/C Participant its pro rata share of such payment in accordance with Section 3.4(a), the Issuing Bank receives any payment related to such Letter of Credit (whether directly from the Company or otherwise,
including proceeds of collateral applied thereto by the Issuing Bank), or any payment of interest on account thereof, the Issuing Bank will distribute to such L/C Participant its pro rata share thereof; provided, however,
that in the event that any such payment received by the Issuing Bank shall be required to be returned by the Issuing Bank, such L/C Participant shall return to the Issuing Bank the portion thereof previously distributed by the Issuing Bank to it.

 Section 3.5 Reimbursement Obligation of the Company. If any draft is paid under any Letter of Credit, the Company shall
reimburse the Issuing Bank for the amount of (a) the draft so paid and (b) any Taxes, fees, charges or other costs or expenses incurred by the Issuing Bank in connection with such payment, not later than 12:00 noon, New York City time, on (i) the
Business Day that the Company receives notice of such draft, if such notice is received on such day prior to 10:00 a.m., New York City time, or (ii) if clause (i) above does not apply, the Business Day immediately following the day that the Company
receives such notice. Each such payment shall be made to the Issuing Bank at its address for notices referred to herein in dollars and in immediately available funds. Interest shall be payable on any such amounts from the date on which the
relevant draft is paid until payment in full at the rate set forth in (x) until the Business Day next succeeding the date of the relevant notice, Section 2.8(b) and (y) thereafter, Section 2.9. 

Section 3.6 Obligations Absolute. The Company’s obligations under this Article III shall be absolute and
unconditional under any and all circumstances and irrespective of any setoff, counterclaim or defense to payment that the Company may have or have had against the Issuing Bank, any beneficiary of a Letter of Credit or any other Person. The
Company also agrees with the Issuing Bank that the Issuing Bank shall not be responsible for, and the Company’s Reimbursement Obligations under Section 3.5 shall not be affected by, among other things, the validity or genuineness of
documents or of any endorsements thereon, even though such documents shall in fact prove to be invalid, fraudulent or forged, or any dispute between or among the Company and any beneficiary of any Letter of Credit or any other party to which such
Letter of Credit may be transferred or any claims whatsoever of the Company against any beneficiary of such Letter of Credit or any such transferee. The Issuing Bank shall not be liable for any error, omission, interruption or delay in
transmission, dispatch or delivery of any message or advice, however transmitted, in connection with any Letter of Credit, except for errors or omissions found by a final and nonappealable decision of a court of competent jurisdiction to have
resulted from the gross negligence, willful misconduct or bad faith of the Issuing Bank. The Company agrees that any action taken or omitted by the Issuing Bank under or in connection with any Letter of Credit or the related drafts or
documents, if done in the absence of gross negligence, willful misconduct or bad faith and in accordance with the standards of care specified in the Uniform Commercial Code of the State of New York, shall be binding on the Company and shall not
result in any liability of the Issuing Bank to the Company. 
 Section 3.7 Letter of Credit Payments. If any draft shall be
presented for payment under any Letter of Credit, the Issuing Bank shall promptly notify the Company of the date and amount thereof. The responsibility of the Issuing Bank to the Company in connection with any draft presented for payment under
any Letter of Credit shall, in addition to any payment obligation expressly provided for in such Letter of Credit, be limited to determining that the documents (including each draft) delivered under such Letter of Credit in connection with such
presentment are substantially in conformity with such Letter of Credit. 

  
 35 

 Section 3.8 Applications. To the extent that any provision of any Application
related to any Letter of Credit is inconsistent with the provisions of this Article III, the provisions of this Article III shall apply. 

ARTICLE IV 
 CONDITIONS
OF LENDING 
 Section 4.1 Conditions Precedent. The effectiveness of this Agreement is subject to the satisfaction of
the following conditions precedent: 
 (a) The Paying Agent shall have received this Agreement, executed and delivered by the Paying Agent,
the Co-Administrative Agents, the Company, each Person listed on Schedule I and each of the other parties hereto. 
 (b) The Paying
Agent shall have received the following, each dated (unless otherwise indicated) the Effective Date: 
 (i) Officer’s
Certificates dated the Effective Date certifying, inter alia, (i) true and correct copies of resolutions adopted by the Board of Directors or Executive Committee, as appropriate, of the Company authorizing the Company to borrow and
effect other transactions hereunder, (ii) a true and correct copy of the Company’s bylaws in effect on the date hereof, (iii) the incumbency and specimen signatures of the Persons executing any documents on behalf of the Company, (iv) the truth
of the representations and warranties made by the Company in this Agreement (or, if any such representation or warranty is expressly stated to have been made as of a specific date, as of such specific date), and (v) the absence of the occurrence and
continuance of any Default or Event of Default. 
 (ii) A copy of the Company’s charter and all amendments thereto,
accompanied by certificates that such copy is correct and complete, one certificate dated within a reasonable time prior to the Effective Date and issued by the Secretary of State of Texas and one certificate dated the Effective Date and executed by
the corporate secretary or assistant secretary of the Company. 
 (iii) Certificates (dated within twenty days prior to the
Effective Date) of existence and good standing of the Company from appropriate officials of Texas. 
 (iv) The written
opinions of internal and outside counsel to the Company and counsel to the Paying Agent, substantially in the form set out in Exhibits C-1, C-2 and C-3, respectively, each dated the Effective Date. 

(v) An Administrative Questionnaire (dated any date on or prior to the Effective Date) completed by each Bank which is a party
hereto on the Effective Date. 
 (vi) Such other agreements, documents, instruments, opinions, certificates, and evidences as
the Paying Agent may reasonably request prior to the Effective Date. 
 (c) Any fees or expenses of the Paying Agent, the other Agents and
the Banks required to be paid on or before the Effective Date shall have been paid. 

  
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 (d) The commitments under the Existing Credit Agreement shall have been terminated and all
amounts owing thereunder shall have been paid in full. Each party hereto that is also a party to the Existing Credit Agreement hereby waives any requirement under the Existing Credit Agreement of advance notice for any such termination or
payment. 
 Section 4.2 Conditions Precedent to Each Committed Borrowing. The obligation of each Bank to make a Committed
Loan on the occasion of any Committed Borrowing (including the initial Committed Borrowing, but excluding any Committed Borrowing used exclusively to finance the payment of any Reimbursement Obligation) shall be subject to the further conditions
precedent that on the date of such Committed Borrowing the following statements shall be true (and each of the giving of the applicable Notice of Committed Borrowing and the acceptance by the Company of the proceeds of such Committed Borrowing shall
constitute a representation and warranty by the Company that on the date of such Committed Borrowing such statements are true): 
 (a) The
representations and warranties contained in Article V (except the last sentence of Section 5.2 and except Section 5.5) are correct in all material respects (or, to the extent subject to materiality or Material Adverse
Effect qualifiers, in all respects) on and as of the date of such Committed Borrowing (or, if any such representation or warranty is expressly stated to have been made as of a specific date, as of such specific date), before and after giving effect
to such Committed Borrowing, as though made on and as of such date; 
 (b) No event has occurred and is continuing, or would result from
such Committed Borrowing, which constitutes either a Default or an Event of Default; and 
 (c) Following the making of such Committed
Borrowing and all other Borrowings to be made on the same day under this Agreement, the sum of the aggregate principal amount of all Loans then outstanding and of the L/C Obligations shall not exceed the Total Commitment. 

Section 4.3 Conditions Precedent to Each Letter of Credit Issuance. The obligation of the Issuing Bank to issue a Letter of
Credit (including the initial Letter of Credit) shall be subject to the further conditions precedent that on the date of the issuance of such Letter of Credit the following statements shall be true (and each delivery of an Application by the Company
shall constitute a representation and warranty by the Company that on the date of such Application such statements are true): 
 (a) The
representations and warranties contained in Article V (except the last sentence of Section 5.2 and except Section 5.5) are correct in all material respects (or, to the extent subject to materiality or Material Adverse
Effect qualifiers, in all respects) on and as of the date of the issuance of such Letter of Credit (or, if any such representation or warranty is expressly stated to have been made as of a specific date, as of such specific date), before and after
giving effect to such issuance, as though made on and as of such date; 
 (b) No event has occurred and is continuing, or would result from
the issuance of such Letter of Credit, which constitutes either a Default or an Event of Default; and 
 (c) Following the issuance of such
Letter of Credit and the making of any Borrowings to be made on the same day under this Agreement, the sum of the aggregate principal amount of all Loans then outstanding and of the L/C Obligations shall not exceed the Total Commitment. 

Section 4.4 Legal Details. All documents executed or submitted pursuant hereto by the Company shall be reasonably
satisfactory in form and substance to the Paying Agent and its counsel. The 

  
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Paying Agent shall, promptly following satisfaction of the conditions specified in Section 4.1, notify the Company and each of the Banks of such satisfaction and the date of the Effective
Date. All legal matters incident to the transactions contemplated by this Agreement (including without limitation matters arising from time to time as a result of changes occurring with respect to any Laws) shall be reasonably satisfactory to
counsel to the Paying Agent. 
 ARTICLE V 

REPRESENTATIONS AND WARRANTIES 

The Company represents and warrants to the Agents and Banks as follows: 

Section 5.1 Organization, Authority and Qualifications 

(a) The Company and each of its Material Subsidiaries is a Person duly organized, validly existing, and in good standing under the Laws of the
jurisdiction of its organization; 
 (b) The Company has the corporate power and authority to execute, deliver, and perform this Agreement
and the other Loan Papers to which it is a party and to borrow hereunder; 
 (c) On the Effective Date, the Company and each of its Material
Subsidiaries is duly qualified as a foreign Person to do business and is in good standing in every jurisdiction where the character of its Properties or nature of its activities make such qualification necessary, except where the failure to be so
qualified or in good standing would not have a Material Adverse Effect; and 
 (d) On the Effective Date, the Company has no Material
Subsidiaries. 
 Section 5.2 Financial Statements. The Current Financials present fairly in all material respects the
consolidated financial position of the Company and its Subsidiaries on the date thereof and the consolidated results of operations and changes in financial position of the Company and its Subsidiaries for the period then ended, all in conformity
with GAAP. Except for transactions related to or contemplated by the Loan Papers and transactions disclosed in Forms 10-Q and 8-K that the Company shall have filed with the Securities and Exchange Commission before the Effective Date, there has
been no Material Adverse Change since December 31, 2015. 
 Section 5.3 Compliance with Agreement and Laws. On the
Effective Date, neither the Company nor any of its Material Subsidiaries is in default in any material respect under the provisions of any instrument evidencing any material obligation, indebtedness, or liability of the Company or any of its
Material Subsidiaries or of any agreement relating thereto. Neither the Company nor any of its Material Subsidiaries is in violation of any Law, which default or violation would have a Material Adverse Effect. 

Section 5.4 Authorization; No Breach; and Valid Agreements. The execution, delivery, and performance of this Agreement, the
borrowings hereunder, and the execution, delivery, and performance of the other Loan Papers to which it is a party by the Company have been duly authorized by all requisite corporate action on the part of the Company and will not violate its
charter or bylaws and will not violate any Law or any order of any Tribunal, and will not conflict with, result in a breach of the provisions of or constitute a default under, or result in the imposition of any Lien upon the Property of the Company
pursuant to the provisions of, any material loan agreement, credit agreement, indenture, mortgage, deed of trust, franchise, permit, license, note, contract, or other material agreement or instrument to which the Company is now a party. The
Loan Papers that include obligations of the Company are the legal, valid and binding obligations of the Company and are enforceable in accordance 

  
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with their respective terms, except as such enforceability may be limited by general equitable principles (whether enforcement is sought by proceedings in equity or at law) or applicable
bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting the enforcement of creditors’ rights generally. 

Section 5.5 Litigation and Judgments. Except as previously disclosed to the Paying Agent in writing, neither the Company nor
any of its Subsidiaries is either party to or aware of the threat of any Litigation which has, in the Company’s opinion, a reasonable probability of success and which, if determined adversely to the Company or such Subsidiary, would have a
Material Adverse Effect. To the knowledge of the Company, on the Effective Date there is no outstanding unsatisfied money judgment against the Company or any of its Subsidiaries in an amount in excess of $50,000,000, and there are no
outstanding unsatisfied money judgments against the Company or any of its Subsidiaries which individually or in the aggregate have or would have a Material Adverse Effect. 

Section 5.6 Ownership of Properties. The Company and each of its Material Subsidiaries has good and marketable title (except
for Permitted Liens) to all of the Pool Assets, and owns or has valid leasehold (or, in the case of Intellectual Property, license) interests in all of its other material Properties which are owned or used in connection with its business. 

Section 5.7 Taxes. To the extent that failure to do so would have a Material Adverse Effect, the Company and each of its
Material Subsidiaries has filed all Tax returns or reports required of it and has paid all Tax liability shown thereon as due to the extent the same has become due and before it may have become delinquent (except to the extent being contested in
good faith by appropriate proceedings and for which adequate reserves have been established). As of the Effective Date, the federal income tax liability of the Company and its Subsidiaries has been audited by the Internal Revenue Service and
has been finally determined and satisfied for all taxable years at least up to and including the taxable year ended December 31, 2013. 

Section 5.8 Approvals Required. Neither the execution and delivery of this Agreement and the other Loan Papers to which it is
a party by the Company, nor the consummation by the Company of any of the transactions contemplated hereby or thereby requires the consent or approval of, the giving of notice to, or the registration, recording, or filing of any document with, or
the taking of any other action in respect of any Tribunal except for the routine filing of copies of this Agreement and certain other Loan Papers with the Securities and Exchange Commission, except for any of the foregoing required of any Bank or
Agent. 
 Section 5.9 Business; Status as Air Carrier. The Company is an air carrier engaged in scheduled air
transportation and is in all material respects duly qualified and licensed under all applicable Laws to carry on its business as a scheduled airline currently subject to regulation by the Federal Aviation Administration and the Department of
Transportation. 
 Section 5.10 ERISA Compliance. The Company is in compliance in all material respects with ERISA and the
rules and regulations thereunder. No Plan of the Company has materially failed to satisfy the “minimum funding standards” of ERISA or is in “at risk” status (within the meaning of ERISA). 

Section 5.11 Insurance. The Company maintains with insurance companies or associations of recognized responsibility (or, as
to workers’ compensation or similar insurance, with an insurance fund or by self-insurance authorized by the jurisdictions in which it operates) insurance concerning its Properties and businesses against such casualties and contingencies and of
such types and in such amounts (and with co-insurance, self-insurance and deductibles) as it determines to be prudent and consistent with its insurance and loss prevention policies, and in such forms and covering such risks as may then be customary
with airlines of a comparable credit standing flying equipment and routes comparable to the Company. 

  
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 Section 5.12 Purpose of Loan. The proceeds of the Loans will be used for general
corporate purposes, including acquisitions, and no part of the proceeds of any Loan will be used for any purpose which would violate, or be inconsistent with, any of the margin regulations of the Board. 

Section 5.13 Investment Company Act. Neither the Company nor any of its Subsidiaries is an “investment company”, or
a company “controlled” by an “investment company”, within the meaning of the Investment Company Act of 1940, as amended. 

Section 5.14 General. As of the Effective Date, there is no material fact or condition relating to the financial condition
and business of the Company and its Subsidiaries which is not reflected in its most recently filed financial statements or any posted SEC Form 8-K which has a Material Adverse Effect and which has not been related, in writing, to the Paying Agent,
other than industry-wide risks in the ordinary course of business associated with the types of business conducted by the Company and its Subsidiaries.

Section 5.15 EEA Financial Institutions. The Company is not an EEA Financial Institution. 

Section 5.16 Anti-Corruption Laws and Sanctions . The Company has implemented and maintains in effect policies and
procedures designed to maintain material compliance by the Company, its Subsidiaries and their respective directors, officers, employees and agents with Anti-Corruption Laws and applicable Sanctions, and the Company, its Subsidiaries and their
respective officers and employees, and to the knowledge of the Company its directors and agents, are in compliance with Anti-Corruption Laws and applicable Sanctions in all material respects and are not knowingly engaged in any activity that would
reasonably be expected to result in the Company being designated as a Sanctioned Person. None of (a) the Company, any of its Subsidiaries or to the knowledge of the Company or such Subsidiary of the Company any of their respective directors,
officers or employees, or (b) to the knowledge of the Company, any agent of the Company or any of its Subsidiaries that will act in any capacity in connection with or benefit from the credit facility established hereby, is a Sanctioned
Person. No Loan or Letter of Credit, use of proceeds or other transaction contemplated by this Agreement will violate any Anti-Corruption Law or applicable Sanctions. Notwithstanding the foregoing or any other provision of this Agreement, the
Company shall not be in breach of this Section 5.16 or Section 6.3 if it operates any of its aircraft (including any Pool Asset) in a Sanctioned Country for which it has obtained legal authority from the United States government to conduct
operations in such Sanctioned Country. 
 ARTICLE VI 

COVENANTS 
 So long as the
Company may borrow hereunder and until the Obligations have been paid in full, the Company covenants as follows: 
 Section
6.1 Performance of Obligations. The Company shall duly and punctually pay and perform each of the Obligations under this Agreement and the other Loan Papers under which the Company has Obligations. 

Section 6.2 Compliance with Laws. The Company shall comply, and shall cause each of its Material Subsidiaries to comply, in
all material respects with all applicable Laws, except for any 

  
 40 

 
noncompliance which individually or in the aggregate would not have a Material Adverse Effect, and such compliance shall include, without limitation, paying before the same become delinquent all
Taxes imposed upon the Company or any of its Material Subsidiaries or its or their Properties, except to the extent contested diligently and in good faith by proper proceedings, and for which adequate reserves are established in accordance with
GAAP. 
 Section 6.3 Maintenance of Existence, Licenses and Franchises: Compliance With Agreements. Except to the
extent otherwise permitted in Article VI, the Company shall maintain, and shall cause each of its Material Subsidiaries to maintain, its existence, and the Company shall preserve and maintain, and shall cause each of its Material Subsidiaries
to preserve and maintain, all material licenses, privileges, franchises, certificates, authorizations, and other permits and agreements necessary for the operation of its business. The Company shall comply, and shall cause each of its Material
Subsidiaries to comply, with all material agreements binding on it or affecting its properties or business, except for any noncompliance which individually or in the aggregate would not have a Material Adverse Effect. The Company shall maintain in
effect and enforce policies and procedures designed to cause material compliance by the Company, its Subsidiaries and their respective directors, officers, employees and agents with Anti-Corruption Laws and applicable Sanctions. 

Section 6.4 Maintenance of Properties. (a) The Company shall, and shall cause each of its Material Subsidiaries to, cause all
of its Properties used or useful in the conduct of its business to be maintained and kept in good condition, repair, and working order, and supplied with all necessary equipment, and cause to be made all necessary repairs, renewals, replacements,
betterments, and improvements thereof, all as in the judgment of the Company may be necessary so that the business carried on in connection therewith may be properly conducted at all times.

(b) The Company shall, at its expense, maintain, service, repair, overhaul, improve, and rebuild the Aircraft so as to keep all Aircraft in
good operating condition and as required to meet, no later than the applicable termination date (i.e., the date by which compliance with such standards is required), the airworthiness standards of the Federal Aviation Administration and the
Department of Transportation (to the extent such standards are applicable to the Aircraft) or the standards observed by the Company with respect to Property of similar type, whichever is higher. The Company shall maintain, service, repair and
overhaul all Aircraft in compliance with its Federal Aviation Administration approved maintenance program. The Company shall comply with all Laws of Tribunals having jurisdiction over the Company or the Aircraft, including all applicable
requirements of the Federal Aviation Administration and the Department of Transportation as to operation, maintenance, or use of the Aircraft. In the event that any such Law requires alteration of any Aircraft, the Company shall conform thereto
or obtain conformance therewith at no expense to the Agents or the Banks no later than the applicable termination date (i.e., the date by which such alteration is required).

(c) Notwithstanding anything to the contrary in this Section 6.4, (A) (i) the Company may place an Aircraft in storage in accordance
with the Company’s standard storage procedures (including, in the case of Aircraft in the Company’s Boeing 737-300 and 737-500 fleet, for decommissioning purposes), (ii) an Aircraft (or any component thereof) may undergo maintenance in
accordance with the Company’s Federal Aviation Administration approved maintenance program and (iii) an Aircraft may be grounded by applicable government authorities, in each case, without the necessity of keeping such Aircraft in good
operating condition or maintaining such Aircraft’s airworthiness certification or otherwise complying with the foregoing provisions of this Section 6.4, (B) the Company may contest the applicability of any Laws or directives described in
this Section 6.4 in any reasonable manner and defer compliance therewith until such contest is finally determined or adjudicated, so long as, notwithstanding such deferred compliance with respect to any Aircraft, the Company keeps such
Aircraft in good operating condition and maintains such Aircraft’s airworthiness certification and (C) the Company may defer maintenance 

  
 41 

 
and defer conformity with any airworthiness directive in a manner that is consistent with its Federal Aviation Administration approved maintenance program and applicable Laws; provided
that if any Aircraft that is a Pool Asset that has been placed into storage or grounded as provided in the preceding clause (A) is not in good operating condition or lacks airworthiness certification (any such Aircraft, a “Non-Compliant Pool
Aircraft”) for a period of more than 30 days, then, within 60 days of the end of such 30 day period the Company shall be required to replace such Aircraft with another Aircraft in compliance with Section 6.12(b) hereof; provided,
further, that the Company shall not permit the Appraised Value of all Non-Compliant Pool Aircraft at any time to exceed an amount equal to 7.5% of the Appraised Value of all Pool Assets at such time for a period of more than ten Business
Days. 
 Section 6.5 Maintenance of Books and Records. The Company shall, and shall cause each of its Subsidiaries to,
maintain proper books of record and account in which full, true, and correct entries in conformity in all material respects with GAAP will be made in respect of all financial dealings and transactions that are, individually or in the aggregate,
material in relation to their business and activities. 
 Section 6.6 Inspection. At reasonable times and upon
reasonable notice, the Company shall permit, and shall cause each of its Material Subsidiaries to permit, any employees and other representatives of the Paying Agent or any Bank (provided that any visit or examination by any Bank must be
coordinated in advance with the Paying Agent), during normal business hours, (1) to visit the Company and inspect any Properties, (2) to examine and make extracts from all books of account and all records that relate to the financial operations of
the Company (subject to any confidentiality agreements, copyright restrictions, and similar limitations), and (3) to discuss the Company’s and Material Subsidiaries’ affairs, finances, Properties, condition (financial or otherwise) and
accounts with the Company’s and Material Subsidiaries’ officers, in each case of the preceding clauses (1), (2) and (3), for the purpose of verifying the accuracy of the various reports delivered by the Company to the Paying Agent and the
Banks pursuant to this Agreement or otherwise ascertaining compliance this Agreement and at such times and as often as may be reasonably requested, but in any event in the case of the preceding clauses (1) and (2), so long as no Event of Default has
occurred and is continuing, no more than one time per year; provided, however, that (a) any such inspection of Aircraft (i) shall be limited to the Pool Assets, (ii) shall be a visual, walk-around inspection and (iii) may not include
opening any panels, bays or the like, (b) no exercise of any inspection rights provided for in this Section 6.6 shall interfere with the normal operation or maintenance of any Aircraft by, or the business of, the Company, and
(c) the Paying Agent and each Bank shall cause their respective employees and representatives to hold in strict confidence all information acquired pursuant to such Agent’s or Bank’s Rights under this Section 6.6, except for
disclosure to any Affiliate of a Bank as a necessary part of the administration of this Agreement and necessary disclosure to participants in the Loans or Commitments, disclosure in connection with disputes relating to the Loan Papers, or disclosure
compelled by judicial or administrative process or by other requirements of Law. 
 Section 6.7 Insurance. The Company
shall maintain insurance on its Properties with insurers or associations of recognized standing in such amounts (including by way of self-insurance) as it determines to be prudent and consistent with its insurance and loss prevention policies, and
in such forms and covering such risks as may then be customary with airlines of a comparable credit standing flying equipment and routes comparable to the Company. Without in any way limiting the foregoing, the Company shall maintain insurance
on the Aircraft, including “all-risk” hull insurance and aviation liability insurance, consistent with the previous sentence. 

Section 6.8 Appraisals. On each Appraisal Delivery Date, the Company shall submit an Appraisal of the Pool Assets to the
Paying Agent (for onward distribution to the Banks) as of the date which is no more than 30 days prior to such Appraisal Delivery Date; provided that the Appraisal to be 

  
 42 

 
delivered on the Effective Date may be dated as of March 31, 2016; and provided, however, that if such Appraisal is to be delivered on such Appraisal Delivery Date as a consequence of
clause (c) of the definition thereof, the Appraisal to be delivered on such date shall only be in respect of the assets to be removed from and/or added to the Pool Assets. 

Section 6.9 Coverage Ratio. The Company shall maintain at all times a Coverage Ratio of not less than 1.25 to 1.0. 

The Company shall have the option to reduce the required Coverage Ratio to 0.80 to 1.0 for two consecutive fiscal quarters by written notice
to the Banks. If such notice is given, the Company shall be irrevocably obligated to pay to each Bank a quarterly fee equal to 0.25% of such Bank’s Commitment for each quarter (with the amount of such Commitment being determined on an
average basis if such Commitment has changed during such quarter), payable on each date on which financial statements for the two relevant fiscal quarters are required to be delivered; provided that (i) such option may be exercised no more
than once between the Effective Date and the Termination Date and (ii) such fee shall be payable in respect of any quarter only if the Coverage Ratio for such quarter is less than 1.25 to 1.0. 

Section 6.10 Reporting Requirements. The Company shall furnish to the Paying Agent (with sufficient copies for each Bank):

 (a) Within 120 days after the last day of each fiscal year of the Company, Financial Statements (it being understood that delivery of the
Company’s annual report on Form 10-K for any fiscal year as filed with the Securities and Exchange Commission pursuant to the Securities Exchange Act of 1934, as amended, will satisfy this requirement with respect to such fiscal year) showing
the consolidated financial condition and results of operations of the Company and its Subsidiaries as of, and for the year ended on, such last day, accompanied by (i) the opinion, without material qualification, of Auditors, based on an audit using
generally accepted auditing standards, that such Financial Statements were prepared in accordance with GAAP and present fairly, in all material respects, the consolidated financial position and results of operations of the Company and its
consolidated Subsidiaries for the periods presented and (ii) a Financial Report Certificate; 
 (b) Within 60 days after the last day of
each of the first three fiscal quarters of the Company (i) Financial Statements showing the consolidated financial condition and results of operations of the Company and its consolidated Subsidiaries as of and for the period from the beginning of
the current fiscal year to, such last day (it being understood that delivery of the Company’s quarterly report on Form 10-Q for any fiscal quarter as filed with the Securities and Exchange Commission pursuant to the Securities Exchange Act of
1934, as amended, will satisfy this requirement with respect to such fiscal quarter), and (ii) a Financial Report Certificate; 
 (c) (i)
Promptly after mailing, true copies of all reports, statements, documents, plans, and other written communications furnished by or on behalf of the Company or any of its Subsidiaries to stockholders generally and (ii) promptly upon the filing
thereof, copies of all registration statements (other than the exhibits thereto and any registration statements on Form S-8 or its equivalent) and reports on Forms 10-K, 10-Q and 8-K (or their equivalents)
which the Company shall have filed with the Securities and Exchange Commission; 
 (d) Notice, promptly after the Company or any of its
Material Subsidiaries knows or has reason to know of a Default or Event of Default, specifying the nature thereof and what action the Company or any Subsidiary has taken, is taking, or proposes to take with respect thereto; 

  
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 (e) Prompt notice of any legal or arbitral proceedings, and of all proceedings by or before any
governmental or regulatory authority or agency, and any material development in respect of such legal or other proceedings, affecting the Company, except proceedings which, if adversely determined, would not have a Material Adverse Effect or
proceedings with respect to which the Company, in good faith and upon consultation with outside counsel, believes an adverse determination in respect thereof to be unlikely; and 

(f) Promptly upon the Paying Agent’s reasonable request, such other relevant information (not otherwise required to be furnished under
the Loan Papers) respecting the business affairs, assets, and liabilities of the Company and any of its Material Subsidiaries. 
 In the case of paragraphs
(a), (b) and (c) above (other than the Financial Report Certificate), the Company may satisfy the reporting requirements in respect thereof by making the documents referred to therein available to the Banks on its website or posted on the Security
and Exchange Commission’s website at www.sec.gov. Notwithstanding the foregoing, the Company shall deliver hard copies of any such documents to any Bank that notifies the Company that such delivery is required by any Laws applicable to
such Bank. 
 Section 6.11 Use of Proceeds. Proceeds advanced hereunder shall be used only as represented herein. The
Company shall not request any Loan or Letter of Credit, and the Company shall not use, and shall procure that its Subsidiaries and its or their respective directors, officers, employees and agents shall not use, the proceeds of any Loan or Letter of
Credit (a) in furtherance of an offer, payment, promise to pay, or authorization of the payment or giving of money, or anything else of value, to any Person in violation of any Anti-Corruption Laws, (b) for the purpose of funding, financing or
facilitating any activities, business or transaction of or with any Sanctioned Person, or in any Sanctioned Country, to the extent such activities, businesses or transaction would be prohibited by Sanctions if conducted by a corporation incorporated
in the United States or (c) in any manner that would result in the violation of any Sanctions applicable to any party hereto. 

Section 6.12 Pool Assets. The Company (i) will ensure that the Appraised Value of the Pool Assets shall satisfy the
Collateral Coverage Test (based upon the most recent Appraisal delivered to the Paying Agent and the Banks pursuant to the provisions of Section 6.8), and (ii) will not (and will not permit any Wholly Owned Domestic Subsidiary to) convey,
sell, lease, transfer or otherwise dispose of, whether voluntarily or involuntarily (it being understood that loss of property due to theft, destruction, confiscation, prohibition on use or similar event shall constitute a disposal for purposes of
this covenant), or remove or substitute, any Pool Asset (or any engine included in the Pool Assets unless such engine is replaced by another working engine or engines of comparable value, assuming half-time condition) or agree to do any of the
foregoing in respect of the Pool Assets at any future time, except that: 
 (a) so long as no Event of Default exists, the Company or any of
its Wholly Owned Domestic Subsidiaries owning a Pool Asset may replace a Pool Asset with another asset of the Company or such Wholly Owned Domestic Subsidiary (or any other Wholly Owned Domestic Subsidiary) (and Schedule II shall be modified
to reflect such replacement), provided that (A) such replacement shall be made on at least a dollar-for-dollar basis based upon (x) in the case of the asset being removed from the Pool Assets, the Appraised Value of such Pool Asset (as
determined by the most recently delivered Appraisal with respect to such Pool Asset) and (y) in the case of the asset being added to the Pool Assets, the Appraised Value of such asset (as determined by an Appraisal performed at (or relatively
contemporaneously with) the time of such replacement), and (B) prior to effecting the replacement, the Company shall have delivered an Officer’s Certificate to the Paying Agent certifying compliance with this Section 6.12 and attaching
to such certificate the Appraisal required by Section 6.8; 

  
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 (b) so long as no Event of Default exists or would result therefrom, the Company or any of its
Wholly Owned Domestic Subsidiaries owning a Pool Asset may remove an asset from the Pool Assets (and Schedule II shall be modified to reflect such removal), provided that (A) after giving effect to such removal, the Appraised Value of
the remaining Pool Assets (as determined by an Appraisal of all Pool Assets performed at (or relatively contemporaneously with) the time of such removal) shall satisfy the Collateral Coverage Test, and (B) prior to effecting the removal, the Company
shall have delivered an Officer’s Certificate to the Paying Agent certifying that, and providing calculations demonstrating that, after giving effect to such removal, the Appraised Value of the Pool Assets shall satisfy the Collateral Coverage
Test, and otherwise certifying compliance with this Section 6.12 and attaching to such certificate Appraisals of all Pool Assets obtained in connection with such removal; and 

(c) in the event (x) that an Appraisal furnished pursuant to Section 6.8 discloses that the Collateral Coverage Test is not satisfied
or (y) the Collateral Coverage Test is not satisfied following an involuntary disposal of any Pool Asset (or any engine included in the Pool Assets unless such engine is replaced by another working engine or engines of comparable value, assuming
half-time condition) (whether by loss of property due to theft, destruction, confiscation, prohibition on use, any similar event or otherwise), based upon the most recent Appraisal of the Pool Assets (from which the appraised values of the Pool
Assets which are the subject of the involuntary disposition shall be subtracted) furnished pursuant to Section 6.8, the Company shall within 60 days after the date of such Appraisal or involuntary disposal, as the case may be, designate
additional assets as Pool Assets to the extent that, after giving effect to such designation, the Appraised Value of the Pool Assets, based on the most recently delivered Appraisal with respect to assets already constituting Pool Assets and based on
an Appraisal performed at (or relatively contemporaneously with) the time of such addition with respect to assets being added to Pool Assets, shall satisfy the Collateral Coverage Test (and Schedule II shall be modified to reflect such
addition), provided that (A) at the time of such addition, the Paying Agent and the Banks shall have received an Officer’s Certificate certifying that the conditions set forth in this Section 6.12 shall have been satisfied after
giving effect to such addition and attaching thereto such Appraisal, and (B) the asset being added shall constitute Specified Equipment. 

Section 6.13 Restrictions on Liens. (a) The Company will not, nor will it permit any Subsidiary to, create, assume or
suffer to exist any Lien upon or with respect to the Pool Assets, or enter into any arrangement with any Person that would materially negatively impact the value of any Pool Asset realizable by any third party or assign any right to receive the
proceeds from the sale, transfer or disposition of any of the Pool Assets, or file or authorize the filing with respect to any of the Pool Assets of any financing statement naming the Company or any Subsidiary as debtor under the Uniform Commercial
Code or any similar notice of Lien naming the Company or any Subsidiary as debtor under any similar recording or notice statute (including, without limitation, any filing under Title 49, United States Code, Section 44107), other than Permitted Liens
affecting Pool Assets. 
 (b) The Company will not enter into or suffer to exist, and will not permit any of its Subsidiaries to enter
into or suffer to exist, any agreement prohibiting or conditioning the creation or assumption of any first priority Lien upon any Pool Asset to secure Debt or other obligations of the Company or of any Subsidiary of the Company that holds Pool
Assets. 
 Section 6.14 Mergers and Dissolutions. (a) The Company will not merge or consolidate with any other person
unless: 
 (i) no Default or Event of Default has occurred and is continuing or would result therefrom; 

  
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 (ii) the Company is the surviving corporation or, if otherwise, (x) such other
Person or continuing corporation (the “Successor Company”) is a corporation or other entity organized under the laws of a state of the United States and (y) such Successor Company is a U.S. certificated air carrier; and 

(iii) in the case of a Successor Company, the Successor Company shall (A) execute, prior to or contemporaneously with the
consummation of such transaction, such agreements, if any, as are in the reasonable opinion of the Paying Agent, necessary or advisable to evidence the assumption by the Successor Company of liability for all of the obligations of the Company
hereunder and the other Loan Papers, and (B) cause to be delivered to the Paying Agent and the Banks such legal opinions (which may be from in-house counsel) as any of them may reasonably request in connection with the matters specified in the
preceding clause (A) and (C) provide such information as each Bank or the Paying Agent reasonably requests in order to perform its “know your customer” due diligence with respect to the Successor Company. 

Upon any consolidation or merger in accordance with this Section 6.14(a) in any case in which the Company is not the surviving
corporation, the Successor Company shall succeed to, and be substituted for, and may exercise every right and power of, the Company under this Agreement with the same effect as if such Successor Company had been named as the Company herein. No
such consolidation or merger shall have the effect of releasing the Company or any Successor Company which shall theretofore have become successor to the Company in the manner prescribed in this Section 6.14(a) from its
liability with respect to any Loan Paper to which it is a party. 
 (b) The Company will not liquidate, wind up, or dissolve itself (or
suffer any liquidation or dissolution). 
 Section 6.15 Assignment. The Company will not assign or transfer any of its
Rights, duties, or obligations under any of the Loan Papers to which it is a party. 
 ARTICLE VII 

EVENTS OF DEFAULT; REMEDIES 

Section 7.1 Events of Default. Any one or more of the following events shall be “Events of Default” hereunder
(which shall include by definition the expiration of any grace period with respect thereto), whether the same shall occur and be continuing for any reason whatsoever (and whether such occurrence shall be voluntary or involuntary or come about or be
effected by operation of Law or otherwise): 
 (a) Payment of Obligation. Failure to pay any principal of any Loan or any
Reimbursement Obligation when due whether at maturity, by declaration as authorized by this Agreement, or otherwise; or failure to pay, within five Business Days after the due date thereof, any interest on any Loan or any Reimbursement Obligation;
or failure to pay, within five Business Days after the due date thereof, or if no due date therefor is herein specified within five Business Days after written demand therefor is given to the Company by the Paying Agent, any fee or other amount
payable by the Company hereunder or under any of the other Loan Papers. 
 (b) Covenants. Default shall be made in the
observance or performance of any other of the covenants, conditions, and agreements on the part of the Company (or in the case of Section 6.12, on the part of any Subsidiary having any Pool Assets) contained herein, or in any other Loan
Papers and such default shall continue for a period of 30 days (or, in the case of Section 6.9, five Business Days) after the Paying Agent shall have given the Company notice thereof in writing. 

  
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 (c) Debtor Relief. The Company or any Material Subsidiary shall file a voluntary
petition in bankruptcy or a petition or answer seeking reorganization, arrangement, composition, liquidation, receivership, or similar relief under any Debtor Relief Law, or shall file a petition to take advantage of any Debtor Relief Law, or shall
make an assignment for the benefit of creditors, or shall admit in writing its inability to pay its debts as they become due, or shall fail generally to pay its debts as they become due, or shall consent to the appointment of any receiver, trustee,
custodian or liquidator of it or all or a substantial part of its Property; or a proceeding or action shall be instituted or commenced against the Company or any Material Subsidiary seeking an order for relief or a reorganization, arrangement,
composition, liquidation, receivership, or similar relief under any Debtor Relief Law or seeking the appointment, without the consent of the Company or any Material Subsidiary, of any receiver, trustee, custodian or liquidator of it or all or a
substantial part of the Property of the Company or any Material Subsidiary and such proceeding or action shall remain undismissed or unstayed for a period of 90 days; or an order, decree, or judgment for an involuntary petition adjudicating the
Company or any Subsidiary insolvent shall be entered by any court of competent jurisdiction and shall remain undismissed or unstayed for a period of 90 days. 

(d) Payment of Judgments. The Company or any of its Material Subsidiaries fails to pay any judgment or order for the payment of
money in excess of $50,000,000 rendered against it or any of its assets (exclusive of judgment amounts fully covered by insurance where the insurer has admitted liability in respect thereof) and either (i) any enforcement proceedings shall have been
commenced by any creditor upon such judgment or order or (ii) the same shall not be discharged (or provisions shall not be made for such discharge), or a stay of execution thereof shall not be procured, within 30 days from the date of entry thereof
and the Company or the relevant Material Subsidiary shall not, within said period of 30 days, or such longer period during which execution of the same shall have been stayed, appeal therefrom and cause the execution thereof to be stayed during such
appeal. 
 (e) Default on Other Debt or Security. The Company or any Material Subsidiary shall (i) fail to pay any principal of
or interest on any Debt (other than the Obligation) the principal or face amount of which exceeds $50,000,000 when due (or, where permitted, within any applicable grace period), whether by scheduled maturity, required prepayment, acceleration,
demand or otherwise and such default continues unremedied for five Business Days after such due date or applicable grace period, or (ii) fail to perform or observe any other provision (other than a provision that is substantially identical to a
provision in this Agreement) contained in any agreement securing or relating to such Debt (or any other breach or default under such Debt agreement occurs) if the effect of such failure to perform or observe such other provisions (or breach or
default) is to cause such Debt to become due prior to its stated maturity; provided, however, that if any such failure, breach or default shall be waived or cured (as evidenced by a writing from such holder or trustee) then, to the
extent of such waiver or cure, the Event of Default hereunder by reason of such failure, breach or default shall be deemed likewise to have been thereupon waived or cured. 

(f) ERISA. Any “Reportable Event” as such term is defined in ERISA under any Plan, or the appointment by an
appropriate Tribunal of a trustee to administer any Plan, or the termination of any Plan within the meaning of Title IV of ERISA, and any of the foregoing results in a material liability to the Pension Benefit Guaranty Corporation; or any Plan fails
to satisfy the “minimum funding standards” of ERISA or is determined to be in “at risk” status (within the meaning of ERISA). 

(g) Misrepresentation. Any representation or warranty made by the Company is untrue in any material respect, or any certificate,
schedule, statement, report, notice or writing (excluding any 

  
 47 

 
Appraisal, for which the Company makes no representation) furnished by the Company to the Agents or to the Banks, or any of them, is untrue in any material respect on the date as of which the
facts set forth are stated or certified, shall remain material at the time of discovery and shall, if curable, remain incorrect in any material respect after 30 days after written notice thereof to the Company (it being understood that any failure
by the Company to include within any such schedule, statement, report, notice, or writing any information the omission of which would cause the material included to be misleading shall be as much an untruth as a false statement contained therein).

 Section 7.2 Remedies Upon Default. If an Event of Default specified in Section 7.l(c) occurs, the Commitments of
the Banks shall thereupon automatically terminate and the aggregate unpaid principal balance of and accrued interest on the Obligation shall thereupon become due and payable concurrently therewith, without any action by the Paying Agent or any Bank
and without diligence, presentment, demand, protest, notice of protest or intent to accelerate, or notice of any other kind, all of which are hereby expressly waived. Except as set forth in the preceding sentence, should any other Event of
Default occur and be continuing, the Paying Agent may, and if requested by the Majority Banks, shall, do any one or more of the following: 

(a) Acceleration. Declare (by written notice to the Company) the entire unpaid balance of the Obligation, or any part thereof,
immediately due and payable, whereupon it shall be due and payable, without diligence, presentment, demand, protest, notice of protest or intent to accelerate, or other notice of any kind (except any notice or demand specified in this Agreement),
all of which are hereby expressly waived. 
 (b) Termination. Terminate the Commitments by written notice to the Company. 

(c) Judgment. Reduce any claim to judgment. 

(d) Rights. Exercise any and all legal and equitable Rights available to it. 

With respect to all Letters of Credit with respect to which presentment for honor shall not have occurred at the time of an acceleration
pursuant to this Section 7.2, the Company shall, upon any such acceleration, deposit in a cash collateral account opened by the Paying Agent an amount equal to the aggregate then undrawn and unexpired amount of such Letters of
Credit. Amounts held in such cash collateral account shall be applied by the Paying Agent to the payment of drafts drawn under such Letters of Credit, and the unused portion thereof after all such Letters of Credit shall have expired or been
fully drawn upon, if any, shall be applied to repay other obligations of the Company hereunder and under the other Loan Papers. After all such Letters of Credit shall have expired or been fully drawn upon, all Reimbursement Obligations shall
have been satisfied and all other obligations of the Company hereunder and under the other Loan Papers shall have been paid in full, the balance, if any, in such cash collateral account shall be returned to the Company (or such other Person as may
be lawfully entitled thereto). 
 Section 7.3 Remedies in General. If any Event of Default shall occur and be continuing,
the Paying Agent may immediately proceed to protect and enforce all or any Rights with respect thereto contained in this Agreement or any other Loan Papers or may enforce any other legal or equitable Rights. Any Right may be exercised from time
to time, independently or concurrently, and as often as shall be deemed expedient. No waiver of any Event of Default shall extend to any subsequent Event of Default. 

  
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 ARTICLE VIII 

THE AGENTS 
 Section
8.1 Authorization and Action. Each Bank hereby irrevocably appoints and authorizes (a) JPMorgan Chase Bank, N.A. to act as its Paying Agent hereunder and under each of the other Loan Papers, (b) JPMorgan Chase Bank, N.A. and
Citibank, N.A. to act as Co-Administrative Agents hereunder and under each of the other Loan Papers, (c) Barclays Bank PLC to act as Syndication Agent hereunder and (d) Bank of America, N.A., BNP Paribas, Goldman Sachs Bank USA, Morgan Stanley
Senior Funding, Inc., U.S. Bank National Association and Wells Fargo Bank, N.A. to act as Documentation Agents hereunder. JPMorgan Chase Bank, N.A. consents to such appointment as Paying Agent and agrees to perform the duties of the Paying
Agent hereunder and under the other Loan Papers. Each of JPMorgan Chase Bank, N.A. and Citibank, N.A. consents to its appointment as a Co-Administrative Agent, Barclays Bank PLC consents to its appointment as Syndication Agent and each of Bank
of America, N.A., BNP Paribas, Goldman Sachs Bank USA, Morgan Stanley Senior Funding, Inc., U.S. Bank National Association and Wells Fargo Bank, N.A. consents to its appointment as Documentation Agent. Each Bank authorizes and directs the
Paying Agent to act on its behalf and to exercise such powers under this Agreement as are specifically delegated to or required of such Agent by the terms hereto, together with such powers as are reasonably incidental thereto. As to any matters
not expressly provided for by this Agreement or the other Loan Papers (including, without limitation, enforcement or collection of the Loans or Notes), the Paying Agent shall not be required to exercise any discretion or take any action, but shall
be required to act or to refrain from acting (and shall be fully protected in so acting or refraining from acting) upon the instructions of the Majority Banks, and such instructions shall be binding upon all Banks and all holders of Loans or Notes;
provided, however, that no Agent shall be required to take any action which exposes such Agent to personal liability or which is contrary to this Agreement or applicable Law. 

Section 8.2 Agents’ Reliance, Etc. None of the Agents and none of their respective Affiliates, directors,
officers, agents, or employees shall be liable for any action taken or omitted to be taken by it or them under or in connection with the Loan Papers (i) with the consent or at the request of the Majority Banks (or all the Banks, if required) or
(ii) in the absence of its or their own gross negligence or willful misconduct (it being the express intention of the parties that the Agents and their respective directors, officers, agents, and employees shall have no liability for actions
and omissions under this Section 8.2 resulting from their ordinary contributory negligence). Without limitation of the generality of the foregoing, each Agent (i) may treat the payee of each Loan or Note as the holder thereof until such
Agent receives written notice of the assignment or transfer thereof signed by such payee and in form satisfactory to such Agent; (ii) may consult with legal counsel (including counsel for the Company), independent public accountants, and other
experts selected by it and shall not be liable for any action taken or omitted to be taken in good faith by it in accordance with the advice of such counsel, accountants, or experts; (iii) makes no warranty or representation to any Bank and shall
not be responsible to any Bank for any statements, warranties, or representations made by or on behalf of the Company in or in connection with any Loan Paper; (iv) except as otherwise expressly provided herein, shall not have any duty to ascertain
or to inquire as to the performance or observance of any of the terms, covenants, or conditions of any Loan Paper or to inspect the property (including the books and records) of the Company or any of its Subsidiaries; (v) shall have no
responsibility to ensure the satisfaction of any condition set forth in Article IV or elsewhere herein other than to confirm receipt of items expressly required to be delivered to the Paying Agent, (vi) shall not be responsible to any Bank
for the due execution, legality, validity, enforceability, genuineness, sufficiency, or value of any Loan Paper or any other instrument or document furnished pursuant hereto or thereto; (vii) shall incur no liability under or in respect of any Loan
Paper by acting upon any notice, consent, certificate, or other instrument or writing (which may be by telecopier or e-mail) reasonably believed by it to be genuine and signed or sent by the proper party or parties; and (viii) may rely upon any
statement made to it orally or by telephone and believed by it to be made by the proper Person, and shall not incur any liability for relying thereon.

  
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 Section 8.3 Rights of Agents as Banks. With respect to their Commitments, the
Loans, if any, made by them and the Notes, if any, issued to them, each Bank that is an Agent (including any Agent that hereafter becomes a holder of a Loan or Note) and its Affiliates shall have the same rights and powers under this Agreement or
any other Loan Paper as any other Bank and may exercise the same as though it were not an Agent; and the term “Bank” or “Banks” shall, unless otherwise expressly indicated, include each Bank that is an Agent (including any Agent
that hereafter becomes a holder of a Loan or Note), in its individual capacity. Each Bank that is an Agent (including any Agent that hereafter becomes a holder of a Loan or Note) and its Affiliates may accept deposits from, lend money to, act
as trustee under indentures of, and generally engage in any kind of business with, the Company, any of the Subsidiaries and any Person who may do business with or own securities of the Company or of the Subsidiaries, all as if such Bank were not an
Agent, and without any duty to account therefor to the Banks. 
 Section 8.4 Bank Credit Decision. Each Bank acknowledges
and agrees that it has, independently and without reliance upon any of the Agents or any other Bank and based on the Current Financials and such other documents and information as it has deemed appropriate, made its own credit analysis and decision
to enter into this Agreement. Each Bank also acknowledges and agrees that it will, independently and without reliance upon any of the Agents or any other Bank and based on such documents and information as it shall deem appropriate at the time,
continue to make its own credit decisions in taking or not taking action under this Agreement. 
 Section
8.5 Agents’ Indemnity. None of the Agents shall be required to take any action hereunder or to prosecute or defend any suit in respect of this Agreement or the Loans or Notes unless indemnified to such
Agent’s satisfaction by the Banks against loss, cost, liability, and expense. If any indemnity furnished to such Agent shall become impaired, it may call for additional indemnity and cease to do the acts indemnified against until such
additional indemnity is given. In addition, the Banks severally but not jointly agree to indemnify the Paying Agent (to the extent not reimbursed by the Company), ratably according to the respective principal amounts of the Committed Loans then
held by each of them (or if no Committed Loans are at the time outstanding, ratably according to either (i) the respective amounts of their Commitments, or (ii) if the Commitments have terminated, the respective amounts of the Commitments
immediately prior to such termination; provided that, in the case of Section 2.22, when a Defaulting Bank shall exist, any such Defaulting Bank’s Commitment shall be disregarded in the calculation), from and against any and all
liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses, or disbursements of any kind or nature whatsoever which may be imposed on, incurred by, or asserted against such Agent in any way relating to or
arising out of this Agreement or any action taken or omitted by such Agent under this Agreement or the other Loan Papers (including, without limitation, any action taken or omitted under Article II of this Agreement);
provided that no Bank shall be liable for any portion of such liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses, or disbursements resulting from such Agent’s fraud, gross negligence or
willful misconduct. Each Bank agrees, however, that it expressly intends, under this Section 8.5, to indemnify each Agent ratably as aforesaid for all such liabilities, obligations, losses, damages, penalties, actions, judgments, suits,
costs, expenses, and disbursements arising out of or resulting from such Agent’s ordinary or contributory negligence. Without limitation of the foregoing, each Bank agrees to reimburse the Paying Agent promptly upon demand for its ratable
share of any out-of-pocket expenses (including reasonable counsel fees) incurred by such Agent in connection with the preparation, execution, administration, or enforcement of, or legal advice in respect of rights or responsibilities under, this
Agreement and the other Loan Papers to the extent that such Agent is not reimbursed for such expenses by the Company. The provisions of this Section 8.5 shall survive the termination of this Agreement and/or the payment or assignment of
any of the Loans or Notes. 

  
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 Section 8.6 Successor Paying Agent. The Paying Agent may resign at any time by
giving written notice thereof to the Banks and the Company and may be removed as Paying Agent under this Agreement and the other Loan Papers at any time with or without cause by the Majority Banks. Upon any such resignation or removal, the
Majority Banks shall have the right, with the consent, not to be unreasonably withheld or delayed, of the Company (provided that the Company’s consent shall not be required during the continuance of a Default or an Event of Default), to
appoint a successor Paying Agent. If no successor Paying Agent shall have been so appointed and shall have accepted such appointment within 30 calendar days after the retiring Paying Agent’s giving notice of resignation or the Majority
Banks’ removal of the retiring Paying Agent, then the retiring Paying Agent may, on behalf of the Banks, with the consent, not to be unreasonably withheld or delayed, of the Company (provided that the Company’s consent shall not be
required during the continuance of a Default or Event of Default), appoint a successor Paying Agent, which shall be a commercial bank organized under the Laws of the United States of America or of any state thereof and having a combined capital and
surplus of at least $500,000,000. Upon the acceptance of any appointment as Paying Agent hereunder and under the other Loan Papers by a successor Paying Agent, such successor Paying Agent shall thereupon succeed to and become vested with all
rights, powers, privileges and duties of the retiring Paying Agent, and the retiring Paying Agent shall be discharged from its duties and obligations under this Agreement and the other Loan Papers. After any retiring Paying Agent’s
resignation or removal as the Paying Agent hereunder and under the other Loan Papers, the provisions of this Article VIII shall inure to its benefit as to any actions taken or omitted to be taken by it while it was the Paying Agent under this
Agreement and the other Loan Papers. 
 Section 8.7 Notice of Default. The Paying Agent shall not be deemed to have
knowledge or notice of the occurrence of any Default or Event of Default hereunder unless the Paying Agent shall have received written notice from a Bank or the Company referring to this Agreement, describing such Default or Event of Default and
stating that such notice is a “notice of default.” If the Paying Agent receives such a notice, the Paying Agent shall give notice thereof to the Banks; provided, however, if such notice is received from a Bank, the Paying
Agent also shall give notice thereof to the Company. The Paying Agent shall be entitled to take action or refrain from taking action with respect to such Default or Event of Default as provided in Section 8.1 and Section 8.2. 

Section 8.8 Co-Administrative Agents and Documentation Agent. The Co-Administrative Agents, the Syndication Agent and the
Documentation Agents shall not have any duties or responsibilities hereunder in their capacities as such. 
 ARTICLE IX 

MISCELLANEOUS 
 Section
9.1 Amendments, Etc Except as provided in Section 2.25, no amendment or waiver of any provision of this Agreement or any other Loan Paper, nor consent to any departure by the Company herefrom or therefrom, shall in any event
be effective unless the same shall be in writing and signed by the Majority Banks (or the Paying Agent with the consent of the Majority Banks) in all cases, and then, in any case, such waiver or consent shall be effective only in the specific
instance and for the specific purpose for which given; provided, however, that no amendment, waiver, or consent shall, unless in writing and signed by each Bank directly affected thereby (or the Paying Agent with the consent of each
Bank directly affected thereby), do any of the following: (a) increase the amount of the Commitments of any Banks or subject any Banks to any additional obligations, (b) reduce the principal 

  
 51 

 
of, or rate or amount of interest applicable to, any Loan or participation in any Letter of Credit other than as provided in this Agreement, or any fees hereunder, (c) postpone any date fixed for
any payment of principal of, or interest on, the Loans or any fees hereunder, (d) extend the expiration date of any Bank’s Commitment, (e) eliminate or reduce the voting rights of any Bank under this Section 9.1, (f) amend Section
2.5(c) or Section 2.15 in any manner that would alter the pro rata sharing of payments or Commitment reductions required thereby or (g) change the percentage of the Commitments or of the aggregate unpaid principal amount of the Loans, or
the number of Banks, which shall be required for the Banks or any of them to take any action hereunder; provided, further, that no amendment waiver, or consent shall modify or waive any provision of Section 2.22, Article
III or Section 4.3 without the written consent of each Issuing Bank; and provided, further, that no amendment, waiver, or consent shall, unless in writing and signed by the Paying Agent in addition to the Banks required
above to take such action, affect the rights or duties of the Paying Agent under this Agreement or any other Loan Paper, or modify or waive any provision of Section 2.22. 

Section 9.2 Notices, Etc. Any Agent, any Bank, or the holder of any Loan or Note giving consent or notice or making any
request of the Company provided for hereunder, shall notify each Bank and the Paying Agent thereof. In the event that the holder of any Loan or Note (including any Bank) shall transfer such Loan or Note, it shall promptly so advise the Paying
Agent which shall be entitled to assume conclusively that no transfer of any Loan or Note has been made by any holder (including any Bank) unless and until such Agent receives written notice to the contrary. Notices, consents, requests,
approvals, demands, and other communications (collectively “Communications”) provided for herein shall be in writing (including telecopy Communications) and mailed, telecopied, e-mailed (where indicated) or delivered: 

(a) If to the Company, to it at: 

Southwest Airlines Co. 

P.O. Box 36611, HDQ-6TR 

Love Field 

Dallas, Texas 75235 

Telecopy Number: (214) 932-1322 

Attention: Treasurer 

E-mail: Capital_Markets-DG@wnco.com 

(b) If to the Paying Agent, to it at: 

JPMorgan Chase Bank, N.A. 

JPM Loan and Agency Services 

500 Stanton Christiana Road 

Ops 2, 3rd Floor 

Newark, DE 19713-2107 

Attention: Robert Madak 

Telecopy Number: (302) 634-1028 

Telephone Number: (302) 634-1392 

E-mail: robert.madak@jpmorgan.com and 14698287788@tls.ldsprod.com 

with a copy to: 

JPMorgan Chase Bank, N.A. 

383 Madison Avenue, Floor 24 

  
 52 

 New York, NY 10179 

Attention: Robert Kellas 

Telecopy Number: (212) 270-5100 

Telephone Number: (212) 270-3560 

E-mail: robert.kellas@jpmorgan.com 

(c) If to any Bank or any other Agent, as specified on Schedule I hereto or, in the case of any party, such other address or telecopy
number as such party may hereafter specify for such purpose by notice to the other parties. All Communications shall, when mailed, telecopied, e-mailed or delivered, be effective and shall be deemed to have been duly given when sent by
telecopier or e-mail to any party or the telecopier number or e-mail address, as applicable, as set forth herein or on the signature pages hereof (or other telecopy number or e-mail address designated by such party in a written notice to the other
parties hereto), or five days after being mailed to the address as set forth herein (or such other address designated by such party in a written notice to the other parties hereto) respectively, or when delivered to such address; provided,
however, Communications to any Agent pursuant to Article II or Article VIII shall not be effective until received by such Agent. 

Section 9.3 No Waiver; Remedies. No failure on the part of any Bank or any Agent to exercise, and no delay in exercising, any
Right hereunder or under any other Loan Paper shall operate as a waiver thereof; nor shall any single or partial exercise of any such Right, or any abandonment or discontinuance of any steps to enforce such Right, preclude any other or further
exercise thereof or the exercise of any other Right. No notice to or demand on the Company in any case shall entitle the Company to any other or further notice or demand in similar or other circumstances. The Rights herein provided are
cumulative and not exclusive of any Rights provided by Law. 
 Section 9.4 Costs, Expenses and Taxes. The Company agrees to
pay or reimburse the Agents for paying: (i) all reasonable costs and expenses of the Agents in connection with (A) the preparation, execution, delivery, and administration of this Agreement and the other Loan Papers, including, without limitation,
the reasonable fees and out-of-pocket expenses of counsel for the Agents with respect thereto and with respect to advising the Agents as to their respective Rights and responsibilities under this Agreement and the other Loan Papers, and (B) any
amendment, modification, supplement, or waiver of any of the terms of this Agreement, and (ii) all reasonable costs and expenses of the Banks and the Agents (including reasonable counsel’s fees, and including reasonable allocated in-house
counsel fees for any Bank or any Agent) in connection with the enforcement of this Agreement and the other Loan Papers. In addition, the Company shall pay any and all Taxes payable or determined to be payable in connection with the execution
and delivery of this Agreement and the other Loan Papers, and agrees to save the Agents and each Bank harmless from and against any and all liabilities with respect to or resulting from any delay in paying or omitting to pay such Taxes, if any,
which may be payable or determined to be payable in connection with the execution and delivery of this Agreement or any other Loan Paper. The obligations of the Company under this Section 9.4 shall survive the termination of this
Agreement and/or repayment of the Loans. 
 Section 9.5 Indemnity. The Company agrees to indemnify and hold harmless the
Agents and the Banks and each of their respective Affiliates, officers, directors, employees, agents, advisors and representatives against any and all liabilities, obligations, losses, damages, penalties, actions, judgments, suits, claims, costs,
deficiencies, expenses, and disbursements of any kind or nature whatsoever which may be imposed on, incurred by or asserted against any Agent, any Bank, or any of their respective Affiliates, officers, directors, employees, agents, advisors or other
representatives in any way relating to or arising out of the Loan Papers, any transaction related hereto, or any act, omission, or transaction of the Company, its Subsidiaries, and Affiliates, or any of their employees, officers, directors or other
representatives, to the extent that any of the same results, directly or indirectly, from any claims made or actions, suits, or proceedings commenced by or on behalf of any person other than an Agent or a Bank.

  
 53 

 The obligation of the Company under this section shall continue for a period of one year after
payment of the Obligation and termination of any or all Loan Papers, and SHALL APPLY WHETHER OR NOT SUCH LOSSES, CLAIMS, DAMAGES, LIABILITIES AND RELATED EXPENSES ARE IN ANY WAY OR TO ANY EXTENT OWED, IN WHOLE OR IN PART, UNDER ANY CLAIM OR
THEORY OF STRICT LIABILITY OR CAUSED, IN WHOLE OR IN PART BY ANY NEGLIGENT ACT OR OMISSION OF ANY KIND BY ANY AGENT OR ANY BANK; 

provided, however, that (i) although each indemnified party shall have the right to be indemnified from its own ordinary
negligence, no indemnified party shall have the right to be indemnified hereunder for willful misconduct, gross negligence or bad faith to the extent found by a final, non-appealable judgment of a court of competent jurisdiction and (ii) the
indemnity set forth in this Section 9.5 shall not apply to any liabilities, obligations, losses, damages, penalties, actions, judgments, suits, claims, costs, deficiencies, expenses or disbursements resulting from a proceeding that does not
involve an act or omission by the Company or any of its affiliates and that is brought by an indemnified party against any other indemnified party (other than claims against any Agent in its capacity or in fulfilling its role as an Agent under the
Loan Papers). 
 To the fullest extent permitted by applicable law, the Company shall not assert, and hereby waives, any claim against any
indemnified party, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Papers or any
agreement or instrument contemplated hereby, the transactions contemplated hereby or thereby, any Loan or Letter of Credit or the use of the proceeds thereof. 

Section 9.6 Right of Setoff. If any Event of Default shall have occurred and is continuing, each Bank and each of its
Affiliates is hereby authorized at any time and from time to time, to the fullest extent permitted by Law, to set off and apply any and all deposits (general or special, time or demand, provisional or final) at any time held and other indebtedness
at any time owing by such Bank or Affiliate to or for the credit or the account of the Company against any and all obligations of the Company now or hereafter existing under this Agreement and the Loans held by such Bank or Affiliate, irrespective
of whether or not such Bank or Affiliate shall have made any demand under this Agreement or any Note and although such obligations may be unmatured. Each Bank agrees promptly to notify the Company and the Paying Agent after any such setoff and
application made by such Bank or Affiliate, but the failure to give such notice shall not affect the validity of such setoff and application. The Rights of each Bank under this Section 9.6 are in addition to the Rights and remedies
(including, without limitation, other Rights of setoff) which such Bank may have. 
 SECTION 9.7 GOVERNING
LAW. THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES UNDER THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK. 

Section 9.8 Submission To Jurisdiction; Waivers. The Company hereby irrevocably and unconditionally: 

(a) submits for itself and its property in any legal action or proceeding relating to this Agreement and the other Loan Papers to which it is
a party, or for recognition and enforcement of any judgment in respect thereof, to the exclusive general jurisdiction of the state and federal courts located in the City of New York, Borough of Manhattan, and appellate courts from any thereof; 

  
 54 

 (b) consents that any such action or proceeding may be brought in such courts and waives any
objection that it may now or hereafter have to the venue of any such action or proceeding in any such court or that such action or proceeding was brought in an inconvenient court and agrees not to plead or claim the same; 

(c) agrees that service of process in any such action or proceeding may be effected by mailing a copy thereof by registered or certified mail
(or any substantially similar form of mail), postage prepaid, to the Company, as the case may be at its address set forth in Section 9.2 or at such other address of which the Paying Agent shall have been notified pursuant thereto; and 

(d) agrees that nothing herein shall affect the right to effect service of process in any other manner permitted by law or shall limit the
right to sue in any other jurisdiction. 
 Section 9.9 Survival of Representations and Warranties. All representations and
warranties contained herein or made in writing by the Company in connection herewith shall survive the execution and delivery of this Agreement and the other Loan Papers, and no investigation by any Agent or any Bank or any closing shall affect the
representations and warranties or the Right of any Agent or any Bank to rely upon them. 
 Section 9.10 Binding
Effect. This Agreement shall become effective when it shall have been executed by the Company, the Agents, and each Bank and thereafter shall be binding upon and inure to the benefit of the Company (subject to the provisions of Section
9.11), the Agents, each Bank and their respective successors and assigns. 
 Section 9.11 Successors and Assigns;
Participations 
 (a) Whenever in this Agreement any of the parties hereto is referred to, such reference shall be deemed to include the
successors and permitted assigns of such party, and all covenants, promises, agreements, representations and warranties by or on behalf of the Company, the Agents or the Banks that are contained in this Agreement shall bind and inure to the benefit
of their respective successors and assigns. Except for any assignment or transfer by the Company of its rights and obligations under this Agreement to a Successor Company in accordance with Section 6.14, the Company may not assign or transfer
any its rights or obligations hereunder without the prior written consent of all of the Banks. 
 (b) Each Bank may without the consent of
the Company sell participations to one or more banks or other entities in all or a portion of its rights and obligations under this Agreement (including, without limitation, all or a portion of its Commitment and the Loans owing to it and any Note
or Notes held by it); provided, however, that (i) such Bank’s obligations under this Agreement shall remain unchanged, (ii) such Bank shall remain solely responsible to the other parties hereto for the performance of such
obligations, (iii) such Bank shall remain the holder of its Loans and Notes (if any) for all purposes of this Agreement, (iv) the participating banks or other entities shall be entitled to the cost protection provisions contained in Article
II and Section 9.4, but only to the extent that such protection would have been available to such Bank, calculated as if no such participations had been sold, and the indemnity protection provisions contained in Section 9.5, (v)
the Company, the Agents, and the other Banks shall continue to deal solely and directly with such Bank in connection with such Bank’s rights and obligations under this Agreement, and (vi) such Bank shall not sell a participation that conveys to
the participant the right to vote or give or withhold consents under this Agreement or any other Loan Papers, 

  
 55 

 
other than the right to vote upon or consent to (y) amendments, modifications, or waivers with respect to any fees payable hereunder (including the dates fixed for the payment of any such fees)
or the amount of principal or the rate of interest payable on, or the dates fixed for any payment of principal of or interest on, the Loans and (z) any extension of the Termination Date. Each Bank that sells a participation shall, acting solely
for this purpose as a non-fiduciary agent of the Company, maintain a register on which it enters the name and address of each participant and the principal amounts (and stated interest) of each participant’s interest in the Loans or other
obligations under this Agreement (the “Participant Register”); provided that no Bank shall have any obligation to disclose all or any portion of the Participant Register to any Person except to the extent that such disclosure
is necessary to establish that a Commitment, Loan, Letter of Credit or other obligation is in registered form under Section 5f.103-1(c) of the United States Treasury Regulations. The entries in the Participant Register shall be conclusive
absent manifest error, and such Bank shall treat each person whose name is recorded in the Participant Register as the owner of such participation for all purposes of this Agreement notwithstanding any notice to the contrary. 

(c) Each Bank may assign to one or more Persons (other than a natural person, a Defaulting Bank or the Company or any of its Affiliates), all
or a portion of its interests, rights, and obligations under this Agreement (including, without limitation, all or a portion of its Commitment and the same portion of the Committed Loans at the time owing to it); provided, however,
that (i) such assignment, if not to a Bank or an Eligible Affiliate Assignee of the assigning Bank, shall be consented to by the Company (which consent shall not be unreasonably withheld or delayed and shall not be required after the occurrence or
during the continuance of a Default or Event of Default), the Paying Agent and each Issuing Bank (which consent shall not be unreasonably withheld or delayed), (ii) each Bank’s Commitment (including Loans owing to it and its pro rata share of
the L/C Obligations) to be assigned shall not be less than $5,000,000 minus reductions pursuant to Section 2.5(a) unless (x) otherwise agreed by the Company and the Paying Agent, (y) in the case of the assigning Bank, such amount is reduced
to zero pursuant to such assignment or (z) the assignment is to a Bank, (iii) each such assignment shall be of a constant, and not a varying, percentage of all the assigning Bank’s rights and obligations under this Agreement, (iv) the
assignee thereof shall deliver to the Company and the Paying Agent any Internal Revenue Service forms required by Section 2.18, and (v) the parties to each such assignment shall execute and deliver to the Paying Agent, for its acceptance and
recording in the Register (as defined below), an Assignment and Assumption substantially in the form of Exhibit E hereto (an “Assignment and Assumption”), together with a properly completed Administrative Questionnaire, any
Note or Notes subject to such assignment and a processing and recordation fee of $3,500 (or such lesser amount as shall be acceptable to the Paying Agent); provided, however, no such fee shall be required in the case of any assignment
requested by the Company pursuant to Article II of this Agreement. Upon such execution, delivery, acceptance, and recording, from and after the effective date specified in each Assignment and Assumption, which effective date shall
be at least five Business Days after the execution thereof (unless a shorter period shall be agreed to by the Company, the Paying Agent, and the assignor Bank), (x) the assignee thereunder shall be a party hereto and, to the extent provided in such
Assignment and Assumption, have the rights and obligations of a Bank hereunder and under the other Loan Papers and (y) the assignor Bank thereunder shall, to the extent provided in such Assignment and Assumption, be released from its obligations
under this Agreement and the other Loan Papers (and, in the case of an Assignment and Assumption covering all of the remaining portion of an assigning Bank’s rights and obligations under this Agreement and the other Loan Papers, such Bank shall
cease to be a party hereto and thereto). 
 (d) By executing and delivering an Assignment and Assumption, the Bank assignor thereunder and
the assignee confirm to and agree with each other and the other parties hereto as follows: (i) other than the representations and warranties that (x) it is the legal and beneficial owner of the interest being assigned thereby, (y) the interest being
assigned thereby is free and clear of any lien, encumbrance or other adverse claim and (z) it has full power and authority, and has taken all action necessary, to 

  
 56 

 
execute and deliver such Assignment and Assumption and to consummate the transactions contemplated thereby, such Bank assignor makes no representation or warranty and assumes no responsibility
with respect to any statements, warranties, or representations made in or in connection with this Agreement or any other Loan Paper or the execution, legality, validity, enforceability, genuineness, sufficiency, or value of this Agreement, any other
Loan Paper or any other instrument or document furnished pursuant hereto; (ii) such Bank assignor makes no representation or warranty and assumes no responsibility with respect to the financial condition of the Company or the performance or
observance of its respective obligations under this Agreement, any other Loan Paper or any other instrument or document furnished pursuant hereto or thereto; (iii) such assignee confirms that it has received a copy of this Agreement together with
copies of financial information and such other documents and information as it has deemed appropriate to make its own credit analysis and decision to enter into such Assignment and Assumption; (iv) such assignee will, independently and without
reliance upon the Agents, such Bank assignor, or any other Bank and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit decisions in taking or not taking action under this Agreement;
(v) such assignee appoints and authorizes the Paying Agent to take such action on behalf of such assignee and to exercise such powers under this Agreement and the other Loan Papers as are delegated to each such Agent by the terms hereof and
thereof, together with such powers as are reasonably incidental thereto; and (vi) such assignee agrees that it will perform in accordance with their terms all of the obligations which by the terms of this Agreement are required to be performed by it
as a Bank. 
 (e) The Paying Agent shall maintain at its office a copy of each Assignment and Assumption delivered to it and a register for
the recordation of the names and addresses of the Banks and the Commitment of, and principal amount of the Loans and L/C Obligations owing to, each Bank from time to time (the “Register”). The entries in the Register shall be
conclusive, in the absence of manifest error, and the Company, the Agents, and the Banks may treat each Person whose name is recorded in the Register as a Bank hereunder for all purposes of this Agreement. The Register shall be available for
inspection by the Company, any Bank or the Paying Agent at any reasonable time and from time to time upon reasonable prior notice. 
 (f)
Upon its receipt of an Assignment and Assumption executed by an assigning Bank and an assignee together with any Note or Notes subject to such assignment and the written consent to such assignment, the Paying Agent shall, if such Assignment and
Assumption has been completed and is substantially in the form of Exhibit E hereto, (i) accept such Assignment and Assumption, (ii) record the information contained therein in the Register, and (iii) give prompt notice thereof to the
Banks, the Paying Agent and the Company. Within five Business Days after receipt of such notice, the Company, at its own expense, shall execute and deliver to the Paying Agent in exchange for the surrendered Note or Notes, if any, (x) a new
Note or Notes to the order of such assignee in an amount equal to its portion of the Commitment assumed by it pursuant to such Assignment and Assumption and (y) if the assigning Bank has retained any Commitment hereunder, new Notes to the order of
the assigning Bank in an amount equal to the Commitment retained by it hereunder. Such new Notes shall be in an aggregate principal amount equal to the aggregate principal amount of such surrendered Notes. Such new Notes shall be dated the
effective date of such Assignment and Assumption and shall otherwise be in substantially the form of Exhibit D-1 or D-2 as applicable, hereto. Cancelled Notes shall be returned to the Company. 

(g) Notwithstanding any other provision herein, any Bank may, in connection with any assignment or participation or proposed assignment or
participation pursuant to this Section 9.11 (or in connection with any swap, derivative, securitization or credit insurance relating to the Company and its obligations), disclose to the assignee or participant or proposed assignee or
participant (or to any direct, indirect, actual or prospective counterparty (and its advisor) to any such swap, derivative or securitization) any information relating to the Company and its Subsidiaries furnished to such Bank by or on behalf of the
Company; provided, that prior to any such disclosure, each such assignee or participant 

  
 57 

 
or proposed assignee or participant (or any such counterparty (and its advisor)) shall agree for the benefit of the Company to preserve the confidentiality of any confidential information
relating to the Company received from such Bank. 
 (h) Notwithstanding any other provision set forth in this Agreement, any Bank may at any
time create a security interest in all or any portion of its Rights under this Agreement (including, without limitation, the Loans owing to it and any Notes held by it) in favor of any Federal Reserve Bank in accordance with Regulation A of the
Board. 
 Section 9.12 Confidentiality. Each Agent, each Issuing Bank and each Bank agrees to keep confidential all
Information (as defined below); provided that nothing herein shall prevent any Agent, any Issuing Bank or any Bank from disclosing any such Information (a) to any Agent, any Issuing Bank, any Bank or any affiliate thereof, (b) as permitted by
Section 9.11(g), (c) to its employees, directors, agents, attorneys, accountants and other professional advisors or those of any of its affiliates in each case on a need-to-know basis, (d) upon the request or demand of any Governmental
Authority, (e) in response to any order of any court or other Governmental Authority or as may otherwise be required pursuant to any Law, (f) if requested or required to do so in connection with any litigation or similar proceeding, (g) that has
been publicly disclosed, (h) to the National Association of Insurance Commissioners or any similar organization or any nationally recognized rating agency that requires access to information about a Bank’s investment portfolio in connection
with ratings issued with respect to such Bank, (i) in connection with the exercise of any remedy hereunder or under any other Loan Paper, or (j) if agreed by the Company in its sole discretion, to any other Person. “Information”
means all information received from the Company relating to the Company or its business, other than any such information that is available to the Agents, any Issuing Bank or any Bank on a non-confidential basis prior to disclosure by the Company and
other than information pertaining to this Agreement routinely provided by arrangers to data service providers, including league table providers, that serve the lending industry; provided that in the case of information received from the
Company after the date hereof, such information is clearly identified at the time of delivery as confidential. Any Person required to maintain the confidentiality of Information as provided in this Section 9.12 shall be considered to have
complied with its obligation to do so if such Person has exercised the same degree of care to maintain the confidentiality of such Information as such Person would accord to its own confidential information. 

Each Bank acknowledges that information furnished to it pursuant to this Agreement or the other Loan Papers may include material non-public
information concerning the Company and its Affiliates and their related parties or their respective securities, and confirms that it has developed compliance procedures regarding the use of material non-public information and that it will handle
such material non-public information in accordance with those procedures and applicable law, including Federal and state securities laws. 

All information, including requests for waivers and amendments, furnished by the Company or the Paying Agent pursuant to, or in the course of
administering, this Agreement or the other Loan Papers will be syndicate-level information, which may contain material non-public information about the Company and its Affiliates and their related parties or their respective securities. Accordingly,
each Bank represents to the Company and the Paying Agent that it has identified in its Administrative Questionnaire a credit contact who may receive information that may contain material non-public information in accordance with its compliance
procedures and applicable law, including Federal and state securities laws. 
 Section 9.13 Independence of Covenants. All
covenants contained in this Agreement shall be given independent effect so that if a particular action or condition is not permitted by any such covenants, the fact that such action or condition would be permitted by an exception to, or otherwise be
within the limitations of, another covenant shall not avoid the occurrence of a Default or Event of Default if such action is taken or condition exists. 

  
 58 

 Section 9.14 Severability. Should any clause, sentence, paragraph, or Section of
this Agreement be judicially declared to be invalid, unenforceable, or void, such decision will not have the effect of invalidating or voiding the remainder of this Agreement, and the parties hereto agree that the part or parts of this Agreement so
held to be invalid, unenforceable, or void will be deemed to have been stricken herefrom and the remainder will have the same force and effectiveness as if such part or parts had never been included herein. 

Section 9.15 Integration. This Agreement and the other Loan Papers represent the entire agreement of the Company, the Paying
Agent and the Banks with respect to the subject matter hereof and thereof, and there are no promises, undertakings, representations or warranties by the Paying Agent or any Bank relative to the subject matter hereof not expressly set forth or
referred to herein or in the other Loan Papers. 
 Section 9.16 Descriptive Headings. The section headings appearing in
this Agreement have been inserted for convenience only and shall be given no substantive meaning or significance whatever in construing the terms and provisions of this Agreement. 

Section 9.17 Execution in Counterparts. This Agreement may be executed in any number of counterparts and by different parties
hereto in separate counterparts, each of which when so executed shall be deemed to be an original and all of which taken together shall constitute one and the same agreement. 

Section 9.18 WAIVERS OF JURY TRIAL. THE COMPANY, THE PAYING AGENT AND THE BANKS HEREBY IRREVOCABLY
AND UNCONDITIONALLY WAIVE TRIAL BY JURY IN ANY LEGAL ACTION OR PROCEEDING RELATING TO THIS AGREEMENT OR ANY OTHER LOAN PAPER AND FOR ANY COUNTERCLAIM THEREIN. 

Section 9.19 No Fiduciary Duty. The Paying Agent, each Bank and their Affiliates (collectively, solely for purposes of this
paragraph, the “Banks”), may have economic interests that conflict with those of the Company, its stockholders and/or its affiliates. The Company agrees that nothing in the Loan Papers or otherwise will be deemed to create an
advisory, fiduciary or agency relationship or fiduciary or other implied duty between any Bank, on the one hand, and the Company, its stockholders or its affiliates, on the other. The Company acknowledges and agrees that (i) the transactions
contemplated by the Loan Papers (including the exercise of rights and remedies hereunder and thereunder) are arm’s-length commercial transactions between the Banks, on the one hand, and the Company, on the other, and (ii) in connection
therewith and with the process leading thereto, (x) no Bank has assumed an advisory or fiduciary responsibility in favor of the Company, its stockholders or its affiliates with respect to the transactions contemplated hereby (or the exercise of
rights or remedies with respect thereto) or the process leading thereto (irrespective of whether any Bank has advised, is currently advising or will advise the Company, its stockholders or its affiliates on other matters) or any other obligation to
the Company except the obligations expressly set forth in the Loan Papers and (y) each Bank is acting solely as principal and not as the agent or fiduciary of the Company, its management, stockholders, creditors or any other Person. The Company
acknowledges and agrees that it has consulted its own legal and financial advisors to the extent it deemed appropriate and that it is responsible for making its own independent judgment with respect to such transactions and the process leading
thereto. The Company agrees that it will not claim that any Bank has rendered advisory services of any nature or respect, or owes a fiduciary or similar duty to it, in connection with such transaction or the process leading thereto. 

  
 59 

 Section 9.20 USA Patriot Act. Each Bank hereby notifies the Company that
pursuant to the requirements of the USA Patriot Act (Title III of Pub. L. 107-56 (signed into law October 26, 2001)) (the “Patriot Act”), it is required to obtain, verify, and record information that identifies each borrower,
guarantor or grantor (the “Loan Parties”), which information includes the name and address of each Loan Party and other information that will allow such Bank to identify such Loan Party in accordance with the Patriot Act. The
Company agrees to provide such information as each Bank or the Paying Agent reasonably requests in order to perform its “know your customer” due diligence. 

Section 9.21 Acknowledgement and Consent to Bail-In of EEA Financial Institutions. Notwithstanding anything to the contrary
in any Loan Paper or in any other agreement, arrangement or understanding among any such parties, each party hereto acknowledges that any liability of any EEA Financial Institution arising under any Loan Paper may be subject to the Write-Down and
Conversion Powers of an EEA Resolution Authority and agrees and consents to, and acknowledges and agrees to be bound by: 
 (a) the
application of any Write-Down and Conversion Powers by an EEA Resolution Authority to any such liabilities arising hereunder which may be payable to it by any party hereto that is an EEA Financial Institution; and 

(b) the effects of any Bail-In Action on any such liability, including, if applicable: 

(i) a reduction in full or in part or cancellation of any such liability; 

(ii) a conversion of all, or a portion of, such liability into shares or other instruments of ownership in such EEA Financial
Institution, its parent entity, or a bridge institution that may be issued to it or otherwise conferred on it, and that such shares or other instruments of ownership will be accepted by it in lieu of any rights with respect to any such liability
under this Agreement or any other Loan Paper; or 
 (iii) the variation of the terms of such liability in connection with the
exercise of the Write-Down and Conversion Powers of any EEA Resolution Authority. 
 Section 9.22 Interest Rate
Limitation. Notwithstanding anything herein to the contrary, if at any time the interest rate applicable to any Loan, together with all fees, charges and other amounts which are treated as interest on such Loan under applicable law
(collectively the “Charges”), shall exceed the maximum lawful rate (the “Maximum Rate”) which may be contracted for, charged, taken, received or reserved by the Bank holding such Loan in accordance with applicable
law, the rate of interest payable to such Bank in respect of such Loan hereunder, together with all Charges payable to such Bank in respect thereof, shall be limited to the Maximum Rate and, to the extent lawful, the interest and Charges that would
have been payable to such Bank in respect of such Loan but were not payable as a result of the operation of this Section shall be cumulated and the interest and Charges payable to such Bank in respect of other Loans or periods shall be increased
(but not above the Maximum Rate therefor) until such cumulated amount, together with interest thereon at the Federal Funds Effective Rate to the date of repayment, shall have been received by such Bank. 

  
 60 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed by their
respective officers thereunto duly authorized, as of the date first above written. 
  

			
	SOUTHWEST AIRLINES CO.
		
	By:	 	 /s/ Christopher Monroe

		 	Name: Christopher Monroe
		 	Title: Treasurer

 [Signature page to Southwest Airlines Revolving Credit Facility Agreement] 

							
	$125,000,000	 		 	 JPMORGAN CHASE BANK, N.A., as a Bank, an Issuing Bank, a Co-Administrative Agent
and the Paying Agent

				
		 		 	By:	 	 /s/ Robert P. Kellas

		 		 		 	Name: Robert P. Kellas
		 		 		 	Title: Executive Director

 [Signature page to Southwest Airlines Revolving Credit Facility Agreement] 

							
	$125,000,000	 		 	 CITIBANK, N.A., as a Bank, an Issuing Bank and a Co-Administrative
Agent

				
		 		 	By:	 	 /s/ Susan M. Olsen

		 		 		 	Name: Susan M. Olsen
		 		 		 	Title: Vice President

 [Signature page to Southwest Airlines Revolving Credit Facility Agreement] 

							
	$125,000,000	 		 	 BARCLAYS BANK PLC, as a Bank, an Issuing Bank and the Syndication
Agent

				
		 		 	By:	 	 /s/ Ronnie Glenn

		 		 		 	Name: Ronnie Glenn
		 		 		 	Title: Vice President

 [Signature page to Southwest Airlines Revolving Credit Facility Agreement] 

							
	$95,000,000	 		 	 BANK OF AMERICA, N.A., as a Bank and a Documentation Agent

				
		 		 	By:	 	 /s/ Christopher Wozniak

		 		 		 	Name: Christopher Wozniak
		 		 		 	Title: Director

 [Signature page to Southwest Airlines Revolving Credit Facility Agreement] 

							
	$95,000,000	 		 	 BNP PARIBAS, as a Bank and a Documentation Agent

				
		 		 	By:	 	 /s/ Eric Chilton

		 		 		 	Name: Eric Chilton
		 		 		 	Title: Managing Director
				
		 		 	By:	 	 /s/ Robert Papas

		 		 		 	Name: Robert Papas
		 		 		 	Title: Director

 [Signature page to Southwest Airlines Revolving Credit Facility Agreement] 

							
	$95,000,000	 		 	 GOLDMAN SACHS BANK USA, as a Bank and a Documentation Agent

				
		 		 	By:	 	 /s/ Rebecca Kratz

		 		 		 	Name: Rebecca Kratz
		 		 		 	Title: Authorized Signatory

 [Signature page to Southwest Airlines Revolving Credit Facility Agreement] 

							
	$95,000,000	 		 	 MORGAN STANLEY BANK, N.A., as a Bank

				
		 		 	By:	 	 /s/ Michael King

		 		 		 	Name: Michael King
		 		 		 	Title Authorized Signatory
			
		 		 	 MORGAN STANLEY SENIOR FUNDING, INC., as a Documentation Agent

				
		 		 	By:	 	 /s/ Michael King

		 		 		 	Name: Michael King
		 		 		 	Title: Authorized Signatory

 [Signature page to Southwest Airlines Revolving Credit Facility Agreement] 

							
	$95,000,000	 		 	 U.S. BANK NATIONAL ASSOCIATION, as a Bank and a Documentation Agent

				
		 		 	By:	 	 /s/ Allison Burgun

		 		 		 	Name: Allison Burgun
		 		 		 	Title: Vice President

 [Signature page to Southwest Airlines Revolving Credit Facility Agreement] 

							
	$95,000,000	 		 	 WELLS FARGO BANK, N.A., as a Bank and a Documentation Agent

				
		 		 	By:	 	 /s/ Boaz Slomowitz

		 		 		 	Name: Boaz Slomowitz
		 		 		 	Title: Vice President

 [Signature page to Southwest Airlines Revolving Credit Facility Agreement] 

							
	$55,000,000	 		 	 COMERICA BANK, as a Bank

				
		 		 	By:	 	 /s/ Gerald R. Finney, Jr.

		 		 		 	Name: Gerald R. Finney, Jr.
		 		 		 	Title: Vice President

 [Signature page to Southwest Airlines Revolving Credit Facility Agreement] 

 SCHEDULE I 

SOUTHWEST AIRLINES CO. 

$1,000,000,000 Revolving Credit Facility Agreement 
  

					
	 Name
	  	 Notice and Contact Information
	  	 Lending Offices

	JPMorgan Chase Bank, N.A.	  	 Robert Kellas
 383 Madison Avenue, Floor 24

New York, NY 10017
 Phone: 212-270-3560

Fax: 212-270-5100
 robert.kellas@jpmorgan.com

 
	  	 Domestic Office
 500 Stanton Christiana
Road,
 Floor 3, Ops 2
 Newark, DE 19713

 
 Eurodollar

Same as Domestic

			
	Citibank, N.A.	  	 Chinna Babu Deepala
 1615 Brett Road Building
III
 New Castle, DE 19720
 Phone: 201-472-4414

GLOriginationOps@citi.com
  
	  	 Domestic Office
 388 Greenwich St.

New York, NY 10013
  

Eurodollar
 Same as Domestic

			
	Barclays Bank PLC	  	 Nicholas Guzzardo
 745 7th Avenue, 25th
Floor
 New York, NY 10019
 Phone: 212-320-6759

Fax: 212-526-5115
 nicholas.guzzardo@barclays.com
	  	 Domestic Office
 Barclays Bank PLC

745 7th Avenue
 New York, New NY 10019

 
 Eurodollar

Same as Domestic

			
	Bank of America, N.A.	  	 Christopher M. Wozniak
 540 W Madison St

Chicago IL, 60661
 Phone: 312-828-8340

Fax: 312-828-8340
 christopher.m.wozniak@baml.com

 
 Maria Bulin

Phone: 972-338-3771
 Fax: 214-290-9411

maria.bulin@baml.com
	  	 Domestic Office
 100 N. Tryon Street

Charlotte, NC 28255
  

Eurodollar
 Same as Domestic

					
	 Name
	  	 Notice and Contact Information
	  	 Lending Offices

	BNP Paribas	  	 Robert Papas
 787 7th Avenue

New York, NY 10022
 Phone: 917-472-4879

robert.papas@us.bnpparibas.com
  

Ronaldo Maciel
 525 Washington Blvd.

Jersey City, NJ 07310
 Phone: 514-285-6264

Fax: 201-616-7917
 dl.afgny.mo@us.bnpparibas.com;

DL.NYK_LS_REGIONAL@US.BNP
PARIBAS.COM
	  	 Domestic Office
 BNP Paribas

787 7th Avenue
 New York, NY 10019

 
 Eurodollar

Same as Domestic

			
	Goldman Sachs Bank USA	  	 Thierry C. Le Jouan
 Goldman Sachs & Co.

30 Hudson Street, 4th Floor
 Jersey City, NJ 07302

Phone: 1-212-934-3921
 Fax: 917-977-3966

gsd.link@gs.com (fax all notices; do
not e-mail)
	  	 Domestic Office
 200 West Street

New York, NY 10282
  

Eurodollar
 Same as Domestic

			
	Morgan Stanley Bank, N.A.	  	 Morgan Stanley Loan Servicing
 1300 Thames
Street Wharf, 4th Floor
 Baltimore, MD 21231
 Phone:
443-627-4355
 Fax: 718-233-2140

msloanservicing@morganstanley.com
	  	 Domestic Office
 One Utah Center. 201
South Main Street, 5th Floor
 Salt Lake City, Utah 84111
  

Eurodollar
 Same as Domestic

			
	U.S. Bank National Association	  	 Allison Burgun
 U. S. Bank National
Association
 214 N. Tryon St. 30th Floor
 Charlotte, NC
28202
 Phone: 704-335-2398
 allison.burgun@usbank.com
	  	 Domestic Office
 U.S. Bank City
Centre
 1420 5th Ave, PD-WA-T9IN Seattle, WA 98101
  

Eurodollar
 Same as Domestic

					
	 Name
	  	 Notice and Contact Information
	  	 Lending Offices

	Wells Fargo Bank, N.A.	  	 Wholesale Loan Servicing
 7711 Plantation
Road
 Roanoke, VA 24019
 Phone: 866-647-7249, Option 4

Fax: 866-270-7214

RKELCLNSVMemberSyndication@
wellsfargo.com
	  	 Domestic Office 
 420 Montgomery
Street
 San Francisco, CA 94163
  

Eurodollar (by e-mail)

RKELCFX@WellsFargo.com;
Loanadmin.London@WellsFargo.com

			
	Comerica Bank	  	 Gerald R. Finney, Jr.
 1717 Main Street, 4th
Floor
 Dallas, TX 75201
 Phone: 214-462-4348

Fax: 214-462-4240
 grfinney@comerica.com

 
 Emily Purvis

1717 Main Street, 4th Floor
 Dallas, TX 75201

Phone: 214-462-4358
 Fax: 214-462-4240

epurvis@comerica.com
  

Tracie Reyes
 2900 North Loop West, 9th Floor

Houston, TX 77092
 Phone: 713-507-1391

Fax: 713-507-2889
 tlreyes@comerica.com
	  	 Domestic Office 
 1717 Main Street, 4th
Floor
 Dallas, TX 75201
  

Eurodollar 
 Same as Domestic

 SCHEDULE II 

POOL ASSETS (in US Millions) 
  

																							
	No.	 	  	Aircraft Model	  	Serial Number	  	Regist. No.	  	Build
Date	  	 Engine Type
	  	MTOW(lbs)	  	Base Value	 	  	Current Market Value	 
	 	1	  	  	737-700	  	27835	  	N700GS	  	Dec-97	  	CFM56-7B24	  	154,500	  	$	10.1	  	  	$	10.1	  
	 	2	  	  	737-700	  	27836	  	N701GS	  	Dec-97	  	CFM56-7B24	  	154,500	  	$	10.1	  	  	$	10.1	  
	 	3	  	  	737-700	  	27837	  	N703SW	  	Dec-97	  	CFM56-7B24	  	154,500	  	$	10.1	  	  	$	10.1	  
	 	4	  	  	737-700	  	27838	  	N704SW	  	Jan-98	  	CFM56-7B24	  	154,500	  	$	10.3	  	  	$	10.3	  
	 	5	  	  	737-700	  	27844	  	N710SW	  	Mar-98	  	CFM56-7B24	  	154,500	  	$	10.3	  	  	$	10.3	  
	 	6	  	  	737-700	  	27839	  	N705SW	  	Mar-98	  	CFM56-7B24	  	154,500	  	$	10.3	  	  	$	10.3	  
	 	7	  	  	737-700	  	27845	  	N711HK	  	Apr-98	  	CFM56-7B24	  	154,500	  	$	10.5	  	  	$	10.5	  
	 	8	  	  	737-700	  	28436	  	N798SW	  	May-98	  	CFM56-7B24	  	154,500	  	$	10.5	  	  	$	10.5	  
	 	9	  	  	737-700	  	27840	  	N706SW	  	May-98	  	CFM56-7B24	  	154,500	  	$	10.5	  	  	$	10.5	  
	 	10	  	  	737-700	  	27846	  	N712SW	  	May-98	  	CFM56-7B24	  	154,500	  	$	10.5	  	  	$	10.5	  
	 	11	  	  	737-700	  	27847	  	N713SW	  	Jun-98	  	CFM56-7B24	  	154,500	  	$	10.5	  	  	$	10.5	  
	 	12	  	  	737-700	  	27848	  	N714CB	  	Jun-98	  	CFM56-7B24	  	154,500	  	$	10.5	  	  	$	10.5	  
	 	13	  	  	737-700	  	27849	  	N715SW	  	Jun-98	  	CFM56-7B24	  	154,500	  	$	10.5	  	  	$	10.5	  
	 	14	  	  	737-700	  	27850	  	N716SW	  	Jun-98	  	CFM56-7B24	  	154,500	  	$	10.5	  	  	$	10.5	  
	 	15	  	  	737-700	  	27852	  	N718SW	  	Jul-98	  	CFM56-7B24	  	154,500	  	$	10.8	  	  	$	10.8	  
	 	16	  	  	737-700	  	27853	  	N719SW	  	Aug-98	  	CFM56-7B24	  	154,500	  	$	10.8	  	  	$	10.8	  
	 	17	  	  	737-700	  	27854	  	N720WN	  	Sep-98	  	CFM56-7B24	  	154,500	  	$	10.8	  	  	$	10.8	  

																							
	No.	 	  	Aircraft Model	  	Serial Number	  	Regist. No.	  	Build
Date	  	 Engine Type
	  	MTOW(lbs)	  	Base Value	 	  	Current Market Value	 
	 	18	  	  	737-700	  	27843	  	N709SW	  	Oct-98	  	CFM56-7B24	  	154,500	  	$	11.0	  	  	$	11.0	  
	 	19	  	  	737-700	  	27841	  	N707SA	  	Oct-98	  	CFM56-7B24	  	154,500	  	$	11.0	  	  	$	11.0	  
	 	20	  	  	737-700	  	29275	  	N739GB	  	Nov-98	  	CFM56-7B24	  	154,500	  	$	11.0	  	  	$	11.0	  
	 	21	  	  	737-700	  	29276	  	N740SW	  	Nov-98	  	CFM56-7B24	  	154,500	  	$	11.0	  	  	$	11.0	  
	 	22	  	  	737-700	  	29277	  	N741SA	  	Nov-98	  	CFM56-7B24	  	154,500	  	$	11.0	  	  	$	11.0	  
	 	23	  	  	737-700	  	27842	  	N708SW	  	Dec-98	  	CFM56-7B24	  	154,500	  	$	11.0	  	  	$	11.0	  
	 	24	  	  	737-700	  	27855	  	N723SW	  	Feb-99	  	CFM56-7B24	  	154,500	  	$	11.2	  	  	$	11.2	  
	 	25	  	  	737-700	  	27856	  	N724SW	  	Feb-99	  	CFM56-7B24	  	154,500	  	$	11.2	  	  	$	11.2	  
	 	26	  	  	737-700	  	27857	  	N725SW	  	Feb-99	  	CFM56-7B24	  	154,500	  	$	11.2	  	  	$	11.2	  
	 	27	  	  	737-700	  	27858	  	N726SW	  	Feb-99	  	CFM56-7B24	  	154,500	  	$	11.2	  	  	$	11.2	  
	 	28	  	  	737-700	  	29490	  	N744SW	  	Mar-99	  	CFM56-7B24	  	154,500	  	$	11.2	  	  	$	11.2	  
	 	29	  	  	737-700	  	27860	  	N728SW	  	May-99	  	CFM56-7B24	  	154,500	  	$	11.4	  	  	$	11.4	  
	 	30	  	  	737-700	  	27859	  	N727SW	  	May-99	  	CFM56-7B24	  	154,500	  	$	11.4	  	  	$	11.4	  
	 	31	  	  	737-700	  	27861	  	N729SW	  	May-99	  	CFM56-7B24	  	154,500	  	$	11.4	  	  	$	11.4	  
	 	32	  	  	737-700	  	27862	  	N730SW	  	May-99	  	CFM56-7B24	  	154,500	  	$	11.4	  	  	$	11.4	  
	 	33	  	  	737-700	  	29798	  	N746SW	  	Jun-99	  	CFM56-7B24	  	154,500	  	$	11.4	  	  	$	11.4	  
	 	34	  	  	737-700	  	27863	  	N731SA	  	Jul-99	  	CFM56-7B24	  	154,500	  	$	11.7	  	  	$	11.7	  
	 	35	  	  	737-700	  	27864	  	N732SW	  	Jul-99	  	CFM56-7B24	  	154,500	  	$	11.7	  	  	$	11.7	  
	 	36	  	  	737-700	  	27865	  	N733SA	  	Jul-99	  	CFM56-7B24	  	154,500	  	$	11.7	  	  	$	11.7	  

																							
	No.	 	  	Aircraft Model	  	Serial Number	  	Regist. No.	  	Build
Date	  	 Engine Type
	  	MTOW(lbs)	  	Base Value	 	  	Current Market Value	 
	 	37	  	  	737-700	  	27866	  	N734SA	  	Jul-99	  	CFM56-7B24	  	154,500	  	$	11.7	  	  	$	11.7	  
	 	38	  	  	737-700	  	29800	  	N748SW	  	Aug-99	  	CFM56-7B24	  	154,500	  	$	11.7	  	  	$	11.7	  
	 	39	  	  	737-700	  	29801	  	N749SW	  	Aug-99	  	CFM56-7B24	  	154,500	  	$	11.7	  	  	$	11.7	  
	 	40	  	  	737-700	  	27867	  	N735SA	  	Aug-99	  	CFM56-7B24	  	154,500	  	$	11.7	  	  	$	11.7	  
	 	41	  	  	737-700	  	27868	  	N736SA	  	Aug-99	  	CFM56-7B24	  	154,500	  	$	11.7	  	  	$	11.7	  
	 	42	  	  	737-700	  	27869	  	N737JW	  	Aug-99	  	CFM56-7B24	  	154,500	  	$	11.7	  	  	$	11.7	  
	 	43	  	  	737-700	  	27870	  	N738CB	  	Sep-99	  	CFM56-7B24	  	154,500	  	$	11.7	  	  	$	11.7	  
	 	44	  	  	737-700	  	29802	  	N750SA	  	Sep-99	  	CFM56-7B24	  	154,500	  	$	11.7	  	  	$	11.7	  
	 	45	  	  	737-700	  	29804	  	N752SW	  	Oct-99	  	CFM56-7B24	  	154,500	  	$	11.9	  	  	$	11.9	  
	 	46	  	  	737-700	  	30601	  	N781WN	  	Aug-00	  	CFM56-7B24	  	154,500	  	$	12.6	  	  	$	12.6	  
	 	47	  	  	737-700	  	29849	  	N754SW	  	Nov-99	  	CFM56-7B24	  	154,500	  	$	11.9	  	  	$	11.9	  
	 	48	  	  	737-700	  	27871	  	N755SA	  	Nov-99	  	CFM56-7B24	  	154,500	  	$	11.9	  	  	$	11.9	  
	 	49	  	  	737-700	  	27872	  	N756SA	  	Nov-99	  	CFM56-7B24	  	154,500	  	$	11.9	  	  	$	11.9	  
	 	50	  	  	737-700	  	30544	  	N759GS	  	Dec-99	  	CFM56-7B24	  	154,500	  	$	11.9	  	  	$	11.9	  
	 	51	  	  	737-700	  	27874	  	N760SW	  	Jan-00	  	CFM56-7B24	  	154,500	  	$	12.1	  	  	$	12.1	  
	 	52	  	  	737-700	  	27875	  	N761RR	  	Mar-00	  	CFM56-7B24	  	154,500	  	$	12.1	  	  	$	12.1	  
	 	53	  	  	737-700	  	27876	  	N762SW	  	Apr-00	  	CFM56-7B24	  	154,500	  	$	12.4	  	  	$	12.4	  
	 	54	  	  	737-700	  	27877	  	N763SW	  	Apr-00	  	CFM56-7B24	  	154,500	  	$	12.4	  	  	$	12.4	  
	 	55	  	  	737-700	  	27878	  	N764SW	  	Apr-00	  	CFM56-7B24	  	154,500	  	$	12.4	  	  	$	12.4	  

																							
	No.	 	  	Aircraft Model	  	Serial Number	  	Regist. No.	  	Build
Date	  	 Engine Type
	  	MTOW(lbs)	  	Base Value	 	  	Current Market Value	 
	 	56	  	  	737-700	  	29806	  	N766SW	  	May-00	  	CFM56-7B24	  	154,500	  	$	12.4	  	  	$	12.4	  
	 	57	  	  	737-700	  	29807	  	N767SW	  	May-00	  	CFM56-7B24	  	154,500	  	$	12.4	  	  	$	12.4	  
	 	58	  	  	737-700	  	30587	  	N768SW	  	Jun-00	  	CFM56-7B24	  	154,500	  	$	12.4	  	  	$	12.4	  
	 	59	  	  	737-700	  	27879	  	N771SA	  	Jun-00	  	CFM56-7B24	  	154,500	  	$	12.4	  	  	$	12.4	  
	 	60	  	  	737-700	  	27880	  	N772SW	  	Jul-00	  	CFM56-7B24	  	154,500	  	$	12.6	  	  	$	12.6	  
	 	61	  	  	737-700	  	27881	  	N773SA	  	Jul-00	  	CFM56-7B24	  	154,500	  	$	12.6	  	  	$	12.6	  
	 	62	  	  	737-700	  	27882	  	N774SW	  	Jul-00	  	CFM56-7B24	  	154,500	  	$	12.6	  	  	$	12.6	  
	 	63	  	  	737-700	  	27883	  	N778SW	  	Aug-00	  	CFM56-7B24	  	154,500	  	$	12.6	  	  	$	12.6	  
	 	64	  	  	737-700	  	27884	  	N779SW	  	Aug-00	  	CFM56-7B24	  	154,500	  	$	12.6	  	  	$	12.6	  
	 	65	  	  	737-700	  	27885	  	N780SW	  	Aug-00	  	CFM56-7B24	  	154,500	  	$	12.6	  	  	$	12.6	  
	 	66	  	  	737-700	  	27887	  	N792SW	  	Dec-00	  	CFM56-7B24	  	154,500	  	$	12.9	  	  	$	12.9	  
	 	67	  	  	737-700	  	27886	  	N791SW	  	Dec-00	  	CFM56-7B24	  	154,500	  	$	12.9	  	  	$	12.9	  
	 	68	  	  	737-700	  	27888	  	N793SA	  	Jan-01	  	CFM56-7B24	  	154,500	  	$	13.1	  	  	$	13.1	  
	 	69	  	  	737-700	  	30605	  	N794SW	  	Jan-01	  	CFM56-7B24	  	154,500	  	$	13.1	  	  	$	13.1	  
	 	70	  	  	737-700	  	27889	  	N796SW	  	Mar-01	  	CFM56-7B24	  	154,500	  	$	13.1	  	  	$	13.1	  
	 	71	  	  	737-700	  	27890	  	N797MX	  	Mar-01	  	CFM56-7B24	  	154,500	  	$	13.1	  	  	$	13.1	  
	 	72	  	  	737-700	  	27891	  	N400WN	  	Mar-01	  	CFM56-7B24	  	154,500	  	$	13.1	  	  	$	13.1	  
	 	73	  	  	737-700	  	29813	  	N401WN	  	Mar-01	  	CFM56-7B24	  	154,500	  	$	13.1	  	  	$	13.1	  
	 	74	  	  	737-700	  	29815	  	N403WN	  	Apr-01	  	CFM56-7B24	  	154,500	  	$	13.4	  	  	$	13.4	  

																							
	No.	 	  	Aircraft Model	  	Serial Number	  	Regist. No.	  	Build
Date	  	 Engine Type
	  	MTOW(lbs)	  	Base Value	 	  	Current Market Value	 
	 	75	  	  	737-700	  	27893	  	N405WN	  	Jun-01	  	CFM56-7B24	  	154,500	  	$	13.4	  	  	$	13.4	  
	 	76	  	  	737-700	  	27894	  	N406WN	  	Jun-01	  	CFM56-7B24	  	154,500	  	$	13.4	  	  	$	13.4	  
	 	77	  	  	737-700	  	27892	  	N404WN	  	Jun-01	  	CFM56-7B24	  	154,500	  	$	13.4	  	  	$	13.4	  
	 	78	  	  	737-700	  	32478	  	N496WN	  	Jan-05	  	CFM56-7B24	  	154,500	  	$	18.0	  	  	$	18.0	  
	 	79	  	  	737-700	  	32479	  	N497WN	  	Jan-05	  	CFM56-7B24	  	154,500	  	$	18.0	  	  	$	18.0	  
	 	80	  	  	737-700	  	32480	  	N498WN	  	Jan-05	  	CFM56-7B24	  	154,500	  	$	18.0	  	  	$	18.0	  
	 	81	  	  	737-700	  	32482	  	N200WN	  	Jan-05	  	CFM56-7B24	  	154,500	  	$	18.0	  	  	$	18.0	  
	 	82	  	  	737-700	  	29854	  	N201LV	  	Feb-05	  	CFM56-7B24	  	154,500	  	$	18.0	  	  	$	18.0	  
	 	83	  	  	737-700	  	33999	  	N202WN	  	Feb-05	  	CFM56-7B24	  	154,500	  	$	18.0	  	  	$	18.0	  
	 	84	  	  	737-700	  	34010	  	N205WN	  	Mar-05	  	CFM56-7B24	  	154,500	  	$	18.0	  	  	$	18.0	  
	 	85	  	  	737-700	  	34011	  	N206WN	  	Mar-05	  	CFM56-7B24	  	154,500	  	$	18.0	  	  	$	18.0	  
	 	86	  	  	737-700	  	34012	  	N207WN	  	Mar-05	  	CFM56-7B24	  	154,500	  	$	18.0	  	  	$	18.0	  
	 	87	  	  	737-700	  	34162	  	N210WN	  	Apr-05	  	CFM56-7B24	  	154,500	  	$	18.3	  	  	$	18.3	  
	 	88	  	  	737-700	  	32484	  	N209WN	  	Apr-05	  	CFM56-7B24	  	154,500	  	$	18.3	  	  	$	18.3	  
	 	89	  	  	737-700	  	29808	  	N782SA	  	Sep-00	  	CFM56-7B24	  	154,500	  	$	12.64	  	  	$	12.6	  
	 	90	  	  	737-700	  	29809	  	N783SW	  	Oct-00	  	CFM56-7B24	  	154,500	  	$	12.89	  	  	$	12.9	  
	 	91	  	  	737-700	  	29810	  	N784SW	  	Oct-00	  	CFM56-7B24	  	154,500	  	$	12.89	  	  	$	12.9	  
	 	92	  	  	737-700	  	30602	  	N785SW	  	Oct-00	  	CFM56-7B24	  	154,500	  	$	12.89	  	  	$	12.9	  
	 	93	  	  	737-700	  	29811	  	N786SW	  	Nov-00	  	CFM56-7B24	  	154,500	  	$	12.89	  	  	$	12.9	  

																							
	No.	 	  	Aircraft Model	  	Serial Number	  	Regist. No.	  	Build
Date	  	 Engine Type
	  	MTOW(lbs)	  	Base Value	 	  	Current Market Value	 
	 	94	  	  	737-700	  	29812	  	N787SA	  	Nov-00	  	CFM56-7B24	  	154,500	  	$	12.89	  	  	$	12.9	  
	 	95	  	  	737-700	  	30603	  	N788SA	  	Nov-00	  	CFM56-7B24	  	154,500	  	$	12.89	  	  	$	12.9	  
	 	96	  	  	737-700	  	30604	  	N790SW	  	Dec-00	  	CFM56-7B24	  	154,500	  	$	12.89	  	  	$	12.9	  
	 	97	  	  	737-700	  	30542	  	N560WN	  	May-00	  	CFM56-7B24	  	154,500	  	$	12.39	  	  	$	12.4	  
	 	98	  	  	737-700	  	30588	  	N769SW	  	Jun-00	  	CFM56-7B24	  	154,500	  	$	12.39	  	  	$	12.4	  
	 	99	  	  	737-700	  	30589	  	N770SA	  	Jun-00	  	CFM56-7B24	  	154,500	  	$	12.39	  	  	$	12.4	  
	 	100	  	  	737-700	  	30590	  	N775SW	  	Jul-00	  	CFM56-7B24	  	154,500	  	$	12.64	  	  	$	12.6	  
	 	101	  	  	737-700	  	30591	  	N776WN	  	Jul-00	  	CFM56-7B24	  	154,500	  	$	12.64	  	  	$	12.6	  
	 	102	  	  	737-700	  	29817	  	N407WN	  	Jul-01	  	CFM56-7B24	  	154,500	  	$	13.67	  	  	$	13.7	  
	 	103	  	  	737-700	  	27895	  	N408WN	  	Sep-01	  	CFM56-7B24	  	154,500	  	$	13.67	  	  	$	13.7	  
	 	104	  	  	737-700	  	27897	  	N410WN	  	Nov-01	  	CFM56-7B24	  	154,500	  	$	13.94	  	  	$	13.9	  
	 	105	  	  	737-700	  	29821	  	N411WN	  	Nov-01	  	CFM56-7B24	  	154,500	  	$	13.94	  	  	$	13.9	  
	 	106	  	  	737-700	  	29818	  	N412WN	  	Nov-01	  	CFM56-7B24	  	154,500	  	$	13.94	  	  	$	13.9	  
	 	107	  	  	737-700	  	29819	  	N413WN	  	Nov-01	  	CFM56-7B24	  	154,500	  	$	13.94	  	  	$	13.9	  
	  
	 Grand Total
	  	$	1,349.4	  	  	$	1,349.4	  

 Note: It is assumed that all 737-700s are equipped with winglets. 

 EXHIBIT A 

FORM OF NOTICE OF COMMITTED BORROWING 

            
    .         
 JPMorgan Chase Bank, N.A., 

    as Paying Agent under the 

    Credit Agreement referred to below 
 JPM
Loan and Agency Services 
 500 Stanton Christiana Road 
 Ops 2,
3rd Floor 
 Newark, DE 19713-2107 
 Attention: Robert
Madak 
 Dear Sirs: 
 Reference is made to
the $1,000,000,000 Revolving Credit Facility Agreement dated as of August 3, 2016 (as amended, modified, supplemented, renewed, or extended from time to time, the “Credit Agreement”), among Southwest Airlines Co., the Banks
party thereto, JPMorgan Chase Bank, N.A., as Paying Agent, JPMorgan Chase Bank, N.A. and Citibank, N.A., as Co-Administrative Agents, Barclays Bank PLC, as Syndication Agent, and Bank of America, N.A., BNP Paribas, Goldman Sachs Bank USA, Morgan
Stanley Bank, N.A., U.S. Bank National Association and Wells Fargo Bank, N.A., as Documentation Agents. Capitalized terms used herein and not otherwise defined herein shall have the meanings assigned to such terms in the Credit
Agreement. The undersigned hereby (check whichever is applicable): 
  

					
	         1.	  	Gives you notice pursuant to Section 2.2 of the Credit Agreement that it requests a Committed Borrowing under the Credit Agreement, and in that connection sets forth below the terms on which such Committed Borrowing
is requested to be made:
			
		  	 (A)   Borrowing Date of Committed Borrowing (a Business Day)
	  	 
		  	 (B)   Principal Amount of Committed Borrowing1
	  	 
		  	 (C)   Interest rate
basis2
	  	 
		  	 (D)   Interest Period and the last day thereof3,4
	  	 
		
	         2.	  	Gives you notice pursuant to Section 2.3(b) that it requests the conversion of Committed Loans that are Eurodollar Loans into Alternate Base Loans in the amount of
$            5 on             ,
20        6.

  

	1 	Not less than $10,000,000 or greater than the unused Total Commitment and in integral multiples of $1,000,000. 

	2 	Eurodollar Loan or Alternate Base Loan. 

	3 	Applicable only to Eurodollar Loans. 

	4 	Interest Periods shall have a duration of one, two, three, six or, if agreed by all Banks, twelve months and shall end not later than the Termination Date. 

 
							
		 	         3.	  	Gives you notice pursuant to Section 2.3(b) of the Credit Agreement that it requests the conversion of Committed Loans that are Alternate Base Loans into Eurodollar Loans in the amount of
$            5, having an Interest Period of             
months,4 on             , 20        .
			
		 	         4.	  	Gives you notice pursuant to Section 2.3(b) of the Credit Agreement that it requests the continuation of Eurodollar Loans in the amount of
$            5 to another Interest Period of         months,4 on             ,
20        6.

  

			
	Very truly yours,
	
	SOUTHWEST AIRLINES CO.
		
	 By:
	 	  

		 	
Name:                  
                                         
         

		 	
Title:                  
                                         
           

  
  

	5	Not less than $10,000,000 and in integral multiples of $1,000,000. 

	6 	Must be the last day of the applicable Interest Period. 

  
 A–2 

 EXHIBIT B 

FORM OF NOTE 
  

			
	$            	  	            , 20     

 FOR VALUE RECEIVED, the undersigned, SOUTHWEST AIRLINES CO., a Texas corporation (the
“Company”), hereby promises to pay to the order of             (the “Bank”) on or before the Termination Date the lesser of (i) the amount of the
Bank’s Commitment and (ii) the aggregate amount of Committed Loans made by the Bank to the Company and outstanding on the Termination Date. 

The Company promises to pay interest on the unpaid principal amount of each Committed Loan from the date of such Committed Loan until such
principal amount is paid in full, at such interest rates, and payable at such dates and times, as are specified in the $1,000,000,000 Revolving Credit Facility Agreement dated as of August 3, 2016 (as amended, modified, supplemented, renewed,
or extended from time to time, the “Credit Agreement,” the terms defined therein and not otherwise defined herein being used herein as therein defined), among the Company, the Bank, certain other banks and financial institutions
party thereto, JPMorgan Chase Bank, N.A., as Paying Agent, JPMorgan Chase Bank, N.A. and Citibank, N.A., as Co-Administrative Agents, Barclays Bank PLC, as Syndication Agent, and Bank of America, N.A., BNP Paribas, Goldman Sachs Bank USA, Morgan
Stanley Bank, N.A., U.S. Bank National Association and Wells Fargo Bank, N.A., as Documentation Agents.
 Both principal and interest are
payable in immediately available funds in lawful money of the United States of America to JPMorgan Chase Bank, N.A., as Paying Agent, at its Principal Office. The amount and type of each Committed Loan made by the Bank to the Company and the
maturity thereof, the rate of interest applicable thereto and all payments made on account of principal and interest hereof shall be recorded by the Bank and, prior to any transfer hereof, endorsed on the grid attached hereto which is part of this
promissory note; provided, however, any failure by the holder hereof to make any such endorsement shall not limit or otherwise affect the Company’s obligations hereunder. 

This promissory note may be held by the Bank for the account of its Domestic Lending Office or its Eurodollar Lending Office and may be
transferred from one to the other from time to time as the Bank may determine. 
 This promissory note is one of the Notes referred to in,
and is entitled to the benefits of, the Credit Agreement. The Credit Agreement, among other things, (i) provides for the making of Committed Loans by the Bank to the Company from time to time, the indebtedness of the Company resulting from each such
Committed Loan being evidenced by this promissory note, and (ii) provisions for acceleration of the maturity hereof upon the happening of certain stated events, also for prepayment on account of principal hereof prior to the maturity hereof upon the
terms and conditions therein specified. 
 Except as expressly provided in the Credit Agreement and the other Loan Papers, the Company and
any and all endorsers, guarantors and sureties severally waive demand, presentment for payment notice of dishonor or default or intent to accelerate, protest and notice of protest and diligence in collecting and bringing of suit against any party
hereto, and agree to all renewals, extensions. or partial payments hereon and to any release or substitution of security herefor, in whole or in part, with or without notice, before or after maturity. 

 THIS PROMISSORY NOTE AND THE RIGHTS AND OBLIGATIONS ARISING HEREUNDER SHALL BE GOVERNED BY,
AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK. 
  

			
	SOUTHWEST AIRLINES CO.
		
	By:	 	  

		 	Name:.
		 	Title:

  
 B–2 

 SCHEDULE TO NOTE DATED
             
 ISSUED BY SOUTHWEST AIRLINES CO. TO
             
  

															
	 Date
	  	Loan	  	 Type
	  	 Maturity
	  	 Interest

Rate
	  	Principal
Repayment	  	Interest
Payments	  	Balance
		  	$        	  		  		  		  	$        	  	$        	  	$        
	  
	  	  
	  	  
	  	  
	  	  
	  	  
	  	  
	  	  

		  	$        	  		  		  		  	$        	  	$        	  	$        
	  
	  	  
	  	  
	  	  
	  	  
	  	  
	  	  
	  	  

		  	$        	  		  		  		  	$        	  	$        	  	$        
	  
	  	  
	  	  
	  	  
	  	  
	  	  
	  	  
	  	  

		  	$        	  		  		  		  	$        	  	$        	  	$        
	  
	  	  
	  	  
	  	  
	  	  
	  	  
	  	  
	  	  

		  	$        	  		  		  		  	$        	  	$        	  	$        
	  
	  	  
	  	  
	  	  
	  	  
	  	  
	  	  
	  	  

		  	$        	  		  		  		  	$        	  	$        	  	$        
	  
	  	  
	  	  
	  	  
	  	  
	  	  
	  	  
	  	  

		  	$        	  		  		  		  	$        	  	$        	  	$        
	  
	  	  
	  	  
	  	  
	  	  
	  	  
	  	  
	  	  

		  	$        	  		  		  		  	$        	  	$        	  	$        
	  
	  	  
	  	  
	  	  
	  	  
	  	  
	  	  
	  	  

		  	$        	  		  		  		  	$        	  	$        	  	$        
	  
	  	  
	  	  
	  	  
	  	  
	  	  
	  	  
	  	  

		  	$        	  		  		  		  	$        	  	$        	  	$        
	  
	  	  
	  	  
	  	  
	  	  
	  	  
	  	  
	  	  

		  	$        	  		  		  		  	$        	  	$        	  	$        
	  
	  	  
	  	  
	  	  
	  	  
	  	  
	  	  
	  	  

		  	$        	  		  		  		  	$        	  	$        	  	$        
	  
	  	  
	  	  
	  	  
	  	  
	  	  
	  	  
	  	  

		  	$        	  		  		  		  	$        	  	$        	  	$        
	  
	  	  
	  	  
	  	  
	  	  
	  	  
	  	  
	  	  

		  	$        	  		  		  		  	$        	  	$        	  	$        
	  
	  	  
	  	  
	  	  
	  	  
	  	  
	  	  
	  	  

		  	$        	  		  		  		  	$        	  	$        	  	$        
	  
	  	  
	  	  
	  	  
	  	  
	  	  
	  	  
	  	  

		  	$        	  		  		  		  	$        	  	$        	  	$        
	  
	  	  
	  	  
	  	  
	  	  
	  	  
	  	  
	  	  

		  	$        	  		  		  		  	$        	  	$        	  	$        
	  
	  	  
	  	  
	  	  
	  	  
	  	  
	  	  
	  	  

		  	$        	  		  		  		  	$        	  	$        	  	$        
	  
	  	  
	  	  
	  	  
	  	  
	  	  
	  	  
	  	  

		  	$        	  		  		  		  	$        	  	$        	  	$        
	  
	  	  
	  	  
	  	  
	  	  
	  	  
	  	  
	  	  

		  	$        	  		  		  		  	$        	  	$        	  	$        
	  
	  	  
	  	  
	  	  
	  	  
	  	  
	  	  
	  	  

		  	$        	  		  		  		  	$        	  	$        	  	$        
	  
	  	  
	  	  
	  	  
	  	  
	  	  
	  	  
	  	  

		  	$        	  		  		  		  	$        	  	$        	  	$        
	  
	  	  
	  	  
	  	  
	  	  
	  	  
	  	  
	  	  

		  	$        	  		  		  		  	$        	  	$        	  	$        
	  
	  	  
	  	  
	  	  
	  	  
	  	  
	  	  
	  	  

  
 B–3 

 EXHIBIT C–1 

FORM OF COMPANY’S INTERNAL COUNSEL OPINION 

August 3, 2016 
 The Banks and the Agents 

Referred to Below 
 c/o JPMorgan Chase Bank, N.A., 

    as Paying Agent 
 JPM Loan and Agency
Services 
 500 Stanton Christiana Road 
 Ops 2, 3rd Floor 

Newark, DE 19713-2107 
 Attention: Robert Madak 

RE: Loans to Southwest Airlines Co. 
 Ladies and Gentlemen: 

This opinion is furnished pursuant to Section 4.1(b)(iv) of the $1,000,000,000 Revolving Credit Facility Agreement dated as of August 3, 2016
(the “Credit Agreement”), among Southwest Airlines Co. (the “Company”), the Banks parties thereto, JPMorgan Chase Bank, N.A., as Paying Agent, Citibank, N.A. and JPMorgan Chase Bank, N.A., as Co-Administrative
Agents, Bank of America, N.A., BNP Paribas, Goldman Sachs Bank USA, Morgan Stanley Bank, N.A., U.S. Bank National Association and Wells Fargo Bank, N.A., as Documentation Agents, and Barclays Bank PLC, as Syndication Agent. Capitalized terms used
herein and not otherwise defined herein shall have the meanings assigned to such terms in the Credit Agreement. 
 I am General Counsel of
the Company and solely in such capacity have examined, either personally or through attorneys under my supervision, originals, or copies certified to my satisfaction, of the Credit Agreement, each Note executed on or as of the date hereof, if any
(collectively, the “Notes”) and such other corporate records, certificates of corporate officials as to certain matters of fact, and instruments and documents as I have deemed necessary or advisable as a basis for the opinions set
forth herein. 
 In such examination, I have assumed (i) the genuineness of all signatures (other than the signatures of Persons signing on
behalf of the Company), the authenticity and completeness of all documents, certificates, instruments and records submitted to me as originals and the conformity to the original instruments of all documents submitted to me as copies, and the
authenticity and completeness of the originals of such copies, (ii) the due authorization, execution and delivery by each of the Agents and the Banks of the Credit Agreement, (iii) that each of the Agents and the Banks has all requisite power and
authority to execute, deliver and perform the Credit Agreement and (iv) the enforceability of the Credit Agreement against each of the Agents and the Banks. 

In addition, in rendering this opinion, I have relied upon, as to certain matters of fact, certificates of officers of the Company and
certificates of public officials, without any independent investigation of such matters. 

 Based upon the foregoing, and relying upon the correctness of all statements of fact contained in
the documents, certificates and records that I have examined either personally or through attorneys under my supervision, I am of the opinion that: 
  

	 	1.	The Company is a corporation duly incorporated, validly existing and in good standing under the laws of the state of its incorporation, and is duly qualified to do business in each jurisdiction in which the character or
location of its properties or the nature or conduct of its business makes such qualification necessary, except for those jurisdictions where the failure to be so qualified would not have a material adverse effect on the consolidated financial
condition of the Company and its Subsidiaries, taken as a whole. The Company has the corporate power to own its properties and to carry on its businesses as now conducted. 

 

	 	2.	The execution, delivery and performance by the Company of the Credit Agreement and the Notes are within its corporate powers, have been duly authorized by all necessary corporate action, and do not conflict with or
constitute a default under (i) any law, rule, regulation, order or judgment known to me or contractual restriction of the Company known to me, the violation of which would have a Material Adverse Effect, or (ii) the Restated Certificate of Formation
or the Amended and Restated Bylaws of the Company. 

  

	 	3.	No authorization or approval or other action by, and no notice to or filing with, any governmental authority or regulatory body is required by the laws of the State of Texas, or the federal laws of the United States of
America for the due execution, delivery and performance by the Company of the Credit Agreement other than routine filings of copies of the Credit Agreement and the Notes with the Securities and Exchange Commission. 

 

	 	4.	To my knowledge, except as set forth in the Company’s Annual Report on Form 10-K for the year ended December 31, 2015, and the Company’s subsequent quarterly reports on Form 10-Q for the quarters ended March
31, 2016, and June 30, 2016, there are no legal or governmental proceedings or investigations pending or threatened against the Company or any Subsidiary or any property of the Company or any Subsidiary which individually or, to the extent involving
related claims, in the aggregate, involve a material risk of a material adverse effect on (i) the financial condition of the Company and its Subsidiaries considered as a whole, or (ii) the ability of the Company to perform its obligations under the
Credit Agreement or the Notes. 

 This opinion is for the sole benefit of the Agents and the Banks and may not be relied upon
by any other Person without the express prior written consent of the undersigned. 
 I am licensed to practice law only in the State of
Texas and I express no opinion as to matters not governed by the laws of the United States of America or the laws of the State of Texas (except for the usury laws and choice-of-laws provisions of the State of Texas, as to which I express no
opinion). 
     Very truly yours, 

 EXHIBIT C–2 

FORM OF COMPANY’S OUTSIDE COUNSEL OPINION 

August 3, 2016 
 To the Banks and the Agents 

referred to below 
 c/o JPMorgan Chase Bank, N.A., 

     as Paying Agent 
 JPM Loan and Agency
Services 
 500 Stanton Christiana Road 
 Ops 2, 3rd Floor 

Newark, DE 19713-2107 
 Attention: Robert Madak 

 

	 	Re:	Southwest Airlines Co. $1,000,000,000 

 Revolving Credit Facility

 Ladies and Gentlemen: 
 This
opinion is furnished pursuant to Section 4.1(b)(iv) of the $1,000,000,000 Revolving Credit Facility Agreement dated as of August 3, 2016 (the “Credit Agreement”), among Southwest Airlines Co. (the “Company”), the
Banks parties thereto, JPMorgan Chase Bank, N.A., as Paying Agent, Citibank, N.A. and JPMorgan Chase Bank, N.A., as Co-Administrative Agents, Bank of America, N.A., BNP Paribas, Goldman Sachs Bank USA, Morgan Stanley Bank, N.A., U.S. Bank
National Association and Wells Fargo Bank, N.A., as Documentation Agents, and Barclays Bank PLC, as Syndication Agent. For convenience of reference, terms defined in the Credit Agreement are used herein with the same meanings. 

We have acted as special New York counsel of the Company in connection with the negotiation, documentation and consummation of the financing
as contemplated by the Credit Agreement, and in this connection, we have examined, among other things, the following documents: 
  

	 	(i)	an executed copy of the Credit Agreement; and 

  

	 	(ii)	an executed copy of each Note executed on or as of the date hereof, if any (collectively, the “Notes”). 

We have also reviewed such other documents and certificates and such matters of law as we have considered relevant hereto. We have assumed, for purposes
of our opinion hereinafter set forth (i) that each of the Credit Agreement and the Notes has been duly authorized, executed and delivered by each of the parties thereto and that, except as expressly made the subject of our opinions in paragraphs (a)
and (b) below, each of the Credit Agreement and the Notes constitutes the legal, valid, binding and enforceable obligation of each of the parties thereto. As to any other facts material to our opinions expressed herein, we have relied upon the
representations and warranties contained in the Credit Agreement and related 

 
documents and certificates and upon originals or copies, certified or otherwise identified to our satisfaction, of such corporate records, documents, certificates and other instruments as in our
judgment are necessary or appropriate to enable us to render this opinion. We have assumed the genuineness of all signatures, the authenticity of all documents submitted to us as originals and the conformity with the authentic originals of all
documents submitted to us as copies. 
 Based upon and subject to the foregoing and having regard to legal considerations which we deem
relevant, and subject to the comments and qualifications set forth below, we are of the opinion that: 
 (a) the Credit
Agreement constitutes the legal, valid and binding obligation of the Company, enforceable against the Company in accordance with its terms; and 

(b) the Notes delivered today (assuming execution and delivery thereof for value) constitutes the legal, valid and binding
obligation of the Company, enforceable against the Company in accordance with its terms; 
 except that no opinion is expressed herein as to (A) whether a
court outside of the State of New York would give effect to the choice of New York law provided for in the Credit Agreement or the Notes, (B) any provision in any of the Credit Agreement or the Notes relating to the severability of provisions
in such documents, (C) any provision of any of the Credit Agreement or the Notes that requires any amendment or waiver thereof to be in writing, (D) the effect of any provision of the Credit Agreement imposing penalties or forfeitures, (E) Section
2.16 of the Credit Agreement, (F) Section 9.8 of the Credit Agreement insofar as it relates to submission to the jurisdiction of United States Federal Courts or (G) Section 9.18 of the Credit Agreement. Further, we wish to point out that
provisions of any Note or the Credit Agreement that permit any party thereto to make determinations or to take actions may be subject to a requirement that such determinations be made, and that such actions be taken, on a reasonable basis in good
faith. 
 The opinions above are subject to: 

(i) the application of general principles of equity (regardless of whether considered in a proceeding of equity or at law),
including, without limitation, (x) the possible unavailability of specific performance, injunctive relief or any other equitable remedy and (y) concepts of materiality, reasonableness, good faith and fair dealing; 

(ii) all applicable bankruptcy, insolvency, reorganization, moratorium, fraudulent conveyance or similar laws, decrees or
regulations affecting the enforcement of creditors’ rights generally; and 
 (iii) with respect to indemnity provisions
contained in the Credit Agreement, limitations based upon public policy considerations. 
 We are members of the bar of the State of New
York and we do not herein express any opinion as to matters governed by any laws other than the law of the State of New York and the Federal law of the United States of America. Further, we express no opinion as to the Company’s interest in any
Pool Assets or any security interest, or grant thereof, in any property. 
 Very truly yours, 

 EXHIBIT C–3 

FORM OF AGENTS’ COUNSEL OPINION 

August 3, 2016 
  

	Re:	$1,000,000,000 Revolving Credit Facility Agreement 

 (the “Credit Agreement”),
dated as of August 3, 2016, among 
 Southwest Airlines Co. (the “Company”), JPMorgan Chase Bank, N.A. and Citibank, N.A.,
as Co-Administrative Agents, Barclays Bank PLC, 
 as Syndication Agent, Bank of America, N.A., 

BNP Paribas, Goldman Sachs Bank USA, Morgan Stanley Senior Funding, Inc., U.S. Bank National Association and Wells Fargo Bank, N.A., 

as Documentation Agents, the lending institutions identified in the Credit Agreement (the “Banks”) and the Paying Agent. 

JPMorgan Chase Bank, N.A., as Paying 
 Agent
under the Credit Agreement, as 
 hereinafter defined (the “Paying 

Agent”) 
 The Banks listed on
Schedule I hereto which 
 are parties to the Credit Agreement on 

the date hereof 
 Ladies and Gentlemen: 

We have acted as counsel to the Paying Agent in connection with the preparation, execution and delivery of the Credit Agreement. 

Unless otherwise indicated, capitalized terms used but not defined herein shall have the meanings assigned to such terms in the Credit Agreement. This opinion
letter is furnished to you pursuant to Section 4.1(b)(iv) of the Credit Agreement. 
 In connection with this opinion, we have examined the Credit
Agreement, signed by the Company, the Paying Agent and certain of the Banks. 
 In addition, we have examined, and have relied as to matters of fact upon,
the documents delivered to you at the closing, and upon originals, or duplicates or certified or conformed copies, of such corporate records, agreements, documents and other instruments and such certificates or comparable documents of public
officials and of officers and representatives of the Company and have made such other investigations, as we have deemed relevant and necessary in connection with the opinions hereinafter set forth. In such examination, we have assumed the
genuineness of all signatures, the legal capacity of natural persons, the authenticity of all documents submitted to us as originals, the conformity to original documents of all documents submitted to us as duplicates or certified or conformed
copies, and the authenticity of the originals of such latter documents. In addition, we have examined, and have relied as to matters of fact, upon the representations made in the Credit Agreement. 

In rendering the opinion set forth below we have assumed that (1) the Credit Agreement is a valid and legally binding obligation of each party thereto (other
than the Company), (2) the Company is validly existing and in good standing under the laws of its jurisdiction of organization and has duly authorized, 

 executed and delivered the Credit Agreement in accordance with its Articles of Incorporation and By-Laws, (3)
execution, delivery and performance by the Company of the Credit Agreement do not violate the laws of the State of Texas or any other applicable laws, (4) execution, delivery and performance by the Company of the Credit Agreement do not constitute a
breach or violation of any agreement or instrument which is binding upon the Company and (5) the Company is not an “investment company” within the meaning of, and subject to regulation under, the Investment Company Act of 1940, as amended.

 Based upon the foregoing, and subject to the assumptions, qualifications and limitations set forth herein, we are of the opinion that the Credit
Agreement constitutes the valid and legally binding obligation of the Company, enforceable against the Company in accordance with its terms. 
 Our opinion
set forth above is subject to (i) the effects of bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium and other similar laws relating to or affecting creditors’ rights generally, (ii) general equitable principles (whether
considered in a proceeding in equity or at law) and (iii) an implied covenant of good faith and fair dealing. 
 We express no opinion with respect to: 

 

	 	(A)	the effect of any provision of the Credit Agreement that is intended to permit modification thereof only by means of an agreement in writing signed by the parties thereto; 

 

	 	(B)	the effect of any provision of the Credit Agreement insofar as it provides that any Person purchasing a participation from a Bank or other Person may exercise set-off or similar rights with respect to such participation
or that any Bank or other Person may exercise set-off or similar rights other than in accordance with applicable law; 

  

	 	(C)	the effect of any provision of the Credit Agreement imposing penalties or forfeitures; 

  

	 	(D)	the effect of any provision of the Credit Agreement to the extent that such provision constitutes a waiver of illegality as a defense to the performance of contract obligations; and 

 

	 	(E)	the effect of any provision of the Credit Agreement relating to indemnification or exculpation in connection with violations of any securities laws or relating to indemnification, contribution or exculpation in
connection with willful, reckless or criminal acts or gross negligence of the indemnified or exculpated Person or the Person receiving contribution. 

In connection with the provisions of the Credit Agreement whereby the Company submits to the jurisdiction of the courts of the United States of America
located in the City of New York, Borough of Manhattan, we note the limitations of 28 U.S.C. Sections 1331 and 1332 on subject matter jurisdiction of the federal courts. In connection with the provisions of the Credit Agreement that relate to forum
selection (including, without limitation, any waiver of any objection to venue or any objection that a court is an inconvenient forum), we note that under NYCPLR Section 510 a New York state court may have discretion to transfer the place of trial,
and under 28 U.S.C. Section 1404(a) a United States district court has discretion to transfer an action from one federal court to another. 
 With respect
to matters of Texas law, we understand that you are relying on the opinion of the Company’s internal counsel dated the date hereof. 
 We do not
express any opinion herein concerning any law other than the law of the State of New York. 

 This opinion letter is rendered to you in connection with the above described transactions. This opinion letter
may not be relied upon by you for any other purpose, or relied upon by, or furnished to, any other person, firm or corporation without our prior written consent. 

 

	
	Very truly yours,
	
	SIMPSON THACHER & BARTLETT LLP

 EXHIBIT D 

FINANCIAL REPORT CERTIFICATE 

FOR             ENDED
            ,      
  

			
	PAYING AGENT:	    	JPMorgan Chase Bank, N.A.
	COMPANY:	    	Southwest Airlines Co.
	RE:	    	$1,000,000,000 Revolving Credit Facility Agreement
	DATE:	    	            ,     

 This certificate is delivered pursuant to Section 6.10 of the $1,000,000,000 Revolving Credit Facility
Agreement dated as of August 3, 2016 (as amended. modified, supplemented, renewed, or extended from time to time, the “Credit Agreement”), among Southwest Airlines Co. (the “Company”), the Banks party thereto,
JPMorgan Chase Bank, N.A., as Paying Agent, JPMorgan Chase Bank, N.A. and Citibank, N.A., as Co-Administrative Agents, Barclays Bank PLC, as Syndication Agent, and Bank of America, N.A., BNP Paribas, Goldman Sachs Bank USA, Morgan Stanley Bank,
N.A., U.S. Bank National Association and Wells Fargo Bank, N.A., as Documentation Agents. Capitalized terms used herein and not otherwise defined herein shall have the meanings assigned to such terms in the Credit Agreement.

I certify to the Agents and the Banks that I am the             
(president, chief financial officer, treasurer, or assistant treasurer) of the Company on the date hereof and that: 
 1. This certificate
relates to the fiscal              ending on             ,      (the “Subject
Period”). The Financial Statements for the Subject Period were prepared in conformity with GAAP, and present fairly in all material respects the consolidated financial position and results of operations of the Company and its
consolidated Subsidiaries as of the last day of, and for, the Subject Period. 
 2. A review of the activities of the Company and its
Subsidiaries during the Subject Period has been made under my supervision with a view to determining whether, during the Subject Period, each such entity has kept, observed, performed, and fulfilled all of its obligations under the Loan Papers, and
during the Subject Period, to my knowledge, each such entity kept, observed, performed, and fulfilled each and every covenant and condition of the Loan Papers (except for any deviations set forth on the attached schedule). 

3. During the Subject Period, no Default or Event of Default has occurred which has not been cured or waived (except for any Defaults or
Events of Default set forth on the attached schedule). 
 4. The status of compliance by the Company with Section 6.9 of the Credit
Agreement as of the last day of the Subject Period is set forth on the attached schedule. 
 5. This certificate is being delivered on
behalf of the Company. No person or entity other than the Agents and the Banks (collectively, the “Subject Recipients”) shall be entitled to receive or rely upon this certificate for any purpose. The Subject Recipients agree by
their acceptance hereof that (a) they shall look solely to the Company for any loss, cost, damage, expense, claim, demand, suit, or cause of action arising out of or relating in any way to this certificate or its preparation and delivery, and (b)
the undersigned shall not under any circumstances have any personal liability whatsoever for the preparation or execution of this certificate. 

	
	
	   

	Name:
	 Title

 The status of compliance by the Company with Section 6.9 of the Credit Agreement as of the last
day of the Subject Period is set forth below: 
 Section 6.9 — Coverage Ratio: 

 

					
	 Consolidated Adjusted Pre-Tax Income*
	  	$	        (1)	  
	 Aircraft Rentals*
	  	$	        (2)	  
	 Net Interest Expense*
	  	$	        (3)	  
	 Depreciation and amortization*
	  	$	        (4)	  
	 Cash dividends paid*
	  	$	        (5)	  
	 Sum of lines (1), (2), (3), and (4), minus line (5)
	  	$	        (6)	  
	 Net Interest Expense*
	  	$	        (7)	  
	 Aircraft Rentals*
	  	$	        (8)	  
	 Sum of lines (7) and (8)
	  	$	        (9)	  
	 Ratio of line (6) to line (9)
	  	 	         to         	  
	 Minimum Ratio
	  	 
  
	[1.25 to 1.00]
 [.80 to 1.00]1
	  
   

  

	*	For four fiscal quarter period ending on last day of Subject Period. 

  

	1 	Select as applicable. Subject to compliance with Section 6.9 at the election of the Company. 

  
 D–2 

 EXHIBIT E 

FORM OF ASSIGNMENT AND ASSUMPTION 

This Assignment and Assumption (the “Assignment and Assumption”) is dated as of the Effective Date set forth below and is
entered into between the Assignor named below (the “Assignor”) and the Assignee named below (the “Assignee”). Capitalized terms used but not defined herein shall have the meanings given to them in the Credit
Agreement identified below (as amended, supplemented or otherwise modified from time to time, the “Credit Agreement”), receipt of a copy of which is hereby acknowledged by the Assignee. The Standard Terms and Conditions set
forth in Annex 1 attached hereto are hereby agreed to and incorporated herein by reference and made a part of this Assignment and Assumption as if set forth herein in full. 

For an agreed consideration, the Assignor hereby irrevocably sells and assigns to the Assignee, and the Assignee hereby irrevocably purchases
and assumes from the Assignor, subject to and in accordance with the Standard Terms and Conditions and the Credit Agreement, as of the Effective Date inserted by the Paying Agent below (i) all of the Assignor’s rights and obligations in its
capacity as a Bank under the Credit Agreement and any other documents or instruments delivered pursuant thereto to the extent related to the amount and percentage interest identified below of all of such outstanding rights and obligations of the
Assignor under the respective facilities identified below (including any letters of credit included in such facilities) and (ii) to the extent permitted to be assigned under applicable Law, all claims, suits, causes of action and any other right of
the Assignor (in its capacity as a Bank) against any Person, whether known or unknown, arising under or in connection with the Credit Agreement, any other documents or instruments delivered pursuant thereto or the loan transactions governed thereby
or in any way based on or related to any of the foregoing, including contract claims, tort claims, malpractice claims, statutory claims and all other claims at law or in equity related to the rights and obligations sold and assigned pursuant to
clause (i) above (the rights and obligations sold and assigned pursuant to clauses (i) and (ii) above being referred to herein collectively as the “Assigned Interest”). Such sale and assignment is without recourse to the
Assignor and, except as expressly provided in this Assignment and Assumption, without representation or warranty by the Assignor. 
  

					
	1.	  	 Assignor:
	  	                                      
                          
			
	2.	  	 Assignee:
	  	                                      
                          
		  		  	 [and is an Eligible Affiliate Assignee of [identify Bank]]

			
	3.	  	 Company:
	  	 Southwest Airlines Co.

			
	4.	  	 Paying Agent:
	  	 JPMorgan Chase Bank, N.A., as paying agent under the Credit Agreement

			
	5.	  	 Credit Agreement:
	  	$1,000,000,000 Revolving Credit Facility Agreement dated as of August 3, 2016 among Southwest Airlines Co., the Banks party thereto, JPMorgan Chase Bank, N.A., as Paying Agent, and the other agents parties thereto

	6.	Assigned Interest: 

  

									
	 Aggregate Amount of
Commitment/
Loans for all Banks
	  	Amount of
Commitment/Loans
Assigned	 	  	Percentage Assigned of
Commitment/Loans8	 
	 $
	  	$	 	  	  	 	%	  
	 $
	  	$	 	  	  	 	%	  
	 $
	  	$	 	  	  	 	%	  

 Effective Date:             ,
20     [TO BE INSERTED BY PAYING AGENT AND WHICH SHALL BE THE EFFECTIVE DATE OF RECORDATION OF TRANSFER IN THE REGISTER THEREFOR.] 

The Assignee agrees to deliver to the Paying Agent a completed Administrative Questionnaire in which the Assignee designates one or more credit contacts to
whom all syndicate-level information (which may contain material non-public information about the Company, the Loan Parties and their Affiliates or their respective securities) will be made available and who may receive such information in
accordance with the Assignee’s compliance procedures and applicable laws, including Federal and state securities laws. 
 The terms set forth in this
Assignment and Assumption are hereby agreed to: 
  

			
	ASSIGNOR	 	
	
	  

	NAME OF ASSIGNOR	 	
	
	By:                                   
                                         
     
	  Title:	 	
		
	ASSIGNEE	 	
	
	  

	NAME OF ASSIGNEE	 	
	
	By:                                   
                                         
     
	  Title:	 	

  
  

	8 	Set forth, to at least 9 decimals, as a percentage of the Commitment/Loans of all Banks. 

  
 E-2 

 Consented to and Accepted: 
  

	
	JPMORGAN CHASE BANK, N.A., as
	  Paying Agent

  

	
	By                                     
                                         
   
	  Title: 
	
	[Consented to:
	
	SOUTHWEST AIRLINES CO.

  

	
	By                                     
                                         
   
	  Title:]9
	
	[Consented to:
	
	[                    ], as
	Issuing Bank

  

					
	By                                     
                                         
   	  			
	  Title:]10	  			

  

	9 	Include if applicable 

	10 	Include if applicable 

  
 E-3 

 ANNEX 1 

$1,000,000,000 Revolving Credit Facility Agreement dated as of August 3, 2016 among Southwest Airlines Co., the Banks party thereto, JPMorgan
Chase Bank, N.A., as Paying Agent, and the other agents parties thereto 
 STANDARD TERMS AND CONDITIONS FOR 

ASSIGNMENT AND ASSUMPTION 
 1.
Representations and Warranties.
 1.1 Assignor. The Assignor (a) represents and warrants that (i) it is the legal and
beneficial owner of the Assigned Interest, (ii) the Assigned Interest is free and clear of any lien, encumbrance or other adverse claim and (iii) it has full power and authority, and has taken all action necessary, to execute and deliver this
Assignment and Assumption and to consummate the transactions contemplated hereby and (b) makes no representation or warranty and assumes no responsibility with respect to (i) any statements, warranties or representations made in or in connection
with the Credit Agreement or any other Loan Paper, (ii) the execution, legality, validity, enforceability, genuineness, sufficiency or value of the Credit Agreement, any other Loan Papers or any other instrument or document furnished pursuant to the
Credit Agreement, (iii) the financial condition of the Company or (iv) the performance or observance by the Company of its respective obligations under the Credit Agreement, any other Loan Paper or any other instrument or document furnished pursuant
to the Credit Agreement or any other Loan Paper. 
 1.2. Assignee. The Assignee (a) represents and warrants that (i) it has full
power and authority, and has taken all action necessary, to execute and deliver this Assignment and Assumption and to consummate the transactions contemplated hereby and to become a Bank under the Credit Agreement, (ii) it satisfies the
requirements, if any, specified in the Credit Agreement that are required to be satisfied by it in order to acquire the Assigned Interest and become a Bank, (iii) it has received a copy of the Credit Agreement, together with copies of financial
information and such other documents and information as it has deemed appropriate to make its own credit analysis and decision to enter into this Assignment and Assumption and to purchase the Assigned Interest on the basis of which it has made such
analysis and decision independently and without reliance on the Paying Agent or any other Bank and (iv) if it is a Foreign Bank, attached to the Assignment and Assumption is any documentation required to be delivered by it pursuant to the terms of
the Credit Agreement, duly completed and executed by the Assignee and (b) agrees that (i) it will, independently and without reliance on the Paying Agent, any other Agent, the Assignor or any other Bank, and based on such documents and information
as it shall deem appropriate at the time, continue to make its own credit decisions in taking or not taking action under the Credit Agreement, (ii) it will perform in accordance with their terms all of the obligations which by the terms of the
Credit Agreement and the other Loan Papers are required to be performed by it as a Bank, (iii) appoints and authorizes the Paying Agent to take such action on behalf of the Assignee and to exercise such powers under the Credit Agreement and the
other Loan Papers as are delegated to the Paying Agent by the terms thereof, together with such powers as are reasonably incidental thereto and (iv) from and after the Effective Date, it shall be bound by the provisions of the Credit Agreement as a
Bank thereunder and, to the extent of the Assigned Interest, shall have the obligations of a Bank thereunder. 
 2. Payments. From
and after the Effective Date, the Paying Agent shall make all payments in respect of the Assigned Interest (including payments of principal, interest, fees and other amounts) to the Assignor for amounts which have accrued to but excluding the
Effective Date and to the Assignee for amounts which have accrued from and after the Effective Date. 

 3. General Provisions. This Assignment and Assumption shall be binding upon, and inure to
the benefit of, the parties hereto and their respective successors and assigns. This Assignment and Assumption may be executed in any number of counterparts, which together shall constitute one instrument. Delivery of an executed
counterpart of a signature page of this Assignment and Assumption by email or telecopy shall be effective as delivery of a manually executed counterpart of this Assignment and Assumption. This Assignment and Assumption shall be governed by, and
construed in accordance with, the law of the State of New York. 

  
 E – Annex 1-2 

 EXHIBIT F 

FORM OF APPRAISAL OF POOL ASSETS 

[On file with the Paying Agent.] 

 EXHIBIT G-1 

FORM OF 
 U.S. TAX
CERTIFICATE 
 (For Foreign Banks That Are Not Partnerships For U.S. Federal Income Tax Purposes) 

Reference is hereby made to the Revolving Credit Facility Agreement dated as of August 3, 2016 (as amended, supplemented or otherwise modified
from time to time, the “Credit Agreement”), among Southwest Airlines Co., the Banks party thereto, JPMorgan Chase Bank, N.A., as Paying Agent, JPMorgan Chase Bank, N.A. and Citibank, N.A., as Co-Administrative Agents, Barclays Bank PLC, as
Syndication Agent, and Bank of America, N.A., BNP Paribas, Goldman Sachs Bank USA, Morgan Stanley Bank, N.A., U.S. Bank National Association and Wells Fargo Bank, N.A., as Documentation Agents. 

Pursuant to the provisions of Section 2.18 of the Credit Agreement, the undersigned hereby certifies that (i) it is the sole record
and beneficial owner of the Loan(s) (as well as any Note(s) evidencing such Loan(s)) in respect of which it is providing this certificate, (ii) it is not a bank within the meaning of Section 881(c)(3)(A) of the Code, (iii) it is not a
ten percent shareholder of the Company within the meaning of Section 871(h)(3)(B) of the Code, (iv) it is not a controlled foreign corporation related to the Company as described in Section 881(c)(3)(C) of the Code and (v) the
interest payments in question are not effectively connected with the undersigned’s conduct of a U.S. trade or business. 
 The
undersigned has furnished the Paying Agent and the Company with a certificate of its non-U.S. Person status on IRS Form W-8BEN or W-8BEN-E, as applicable. By executing this certificate, the undersigned agrees that (1) if the
information provided on this certificate changes, the undersigned shall promptly so inform the Company and the Paying Agent and (2) the undersigned shall have at all times furnished the Company and the Paying Agent with a properly completed and
currently effective certificate in either the calendar year in which each payment is to be made to the undersigned, or in either of the two calendar years preceding such payments. 

Unless otherwise defined herein, terms defined in the Credit Agreement and used herein shall have the meanings given to them in the Credit
Agreement. 
 [NAME OF BANK] 
  

			
	By:	 	  

		 	Name:
		 	Title:

 Date:
                 , 20     

 EXHIBIT G-2 

FORM OF 
 U.S. TAX
CERTIFICATE 
 (For Non-U.S. Participants That Are Partnerships For U.S. Federal Income Tax Purposes) 

Reference is hereby made to the Revolving Facility Credit Agreement dated as of August 3, 2016 (as amended, modified, supplemented, renewed,
or extended prior to the date hereof , the “Credit Agreement”), among Southwest Airlines Co., the Banks party thereto, JPMorgan Chase Bank, N.A., as Paying Agent, JPMorgan Chase Bank, N.A. and Citibank, N.A., as Co-Administrative
Agents, Barclays Bank PLC, as Syndication Agent, and Bank of America, N.A., BNP Paribas, Goldman Sachs Bank USA, Morgan Stanley Bank, N.A., U.S. Bank National Association and Wells Fargo Bank, N.A., as Documentation Agents. 

Pursuant to the provisions of Section 2.18 of the Credit Agreement, the undersigned hereby certifies that (i) it is the sole record
owner of the participation in respect of which it is providing this certificate, (ii) its partners/members are the sole beneficial owners of such participation, (iii) with respect such participation, neither the undersigned nor any of its
partners/members is a bank extending credit pursuant to a loan agreement entered into in the ordinary course of its trade or business within the meaning of 
Section 881(c)(3)(A) of the Code, (iv) none of its partners/members is a ten
percent shareholder of the Company within the meaning of Section 871(h)(3)(B) of the Code, (v) none of its partners/members is a controlled foreign corporation related to the Company as described in Section 881(c)(3)(C) of the
Code, and (vi) the interest payments in question are not effectively connected with the undersigned’s or its partners/members’ conduct of a U.S. trade or business. 

The undersigned has furnished its participating Bank with IRS Form W-8IMY accompanied by one of the following forms from each of its
partners/members that is claiming the portfolio interest exemption: (i) an IRS Form W-8BEN or W-8BEN-E, as applicable, or (ii) an IRS Form W-8IMY accompanied by an IRS Form W-8BEN or W-8BEN-E, as applicable, from each of such
partner’s/member’s beneficial owners that is claiming the portfolio interest exemption. By executing this certificate, the undersigned agrees that (1) if the information provided on this certificate changes, the undersigned shall
promptly so inform such Bank and (2) the undersigned shall have at all times furnished such Bank with a properly completed and currently effective certificate in either the calendar year in which each payment is to be made to the undersigned,
or in either of the two calendar years preceding such payments. 
 Unless otherwise defined herein, terms defined in the Credit Agreement
and used herein shall have the meanings given to them in the Credit Agreement. 
 [NAME OF PARTICIPANT] 

 

			
	By:	 	  

		 	Name:
		 	Title:

 Date:
                 , 20     

 EXHIBIT G-3 

FORM OF 
 U.S. TAX
CERTIFICATE 
 (For Non-U.S. Participants That Are Not Partnerships For U.S. Federal Income Tax Purposes) 

Reference is hereby made to the Revolving Facility Credit Agreement dated as of August 3, 2016 (as amended, modified, supplemented, renewed,
or extended prior to the date hereof , the “Credit Agreement”), among Southwest Airlines Co., the Banks party thereto, JPMorgan Chase Bank, N.A., as Paying Agent, JPMorgan Chase Bank, N.A. and Citibank, N.A., as Co-Administrative
Agents, Barclays Bank PLC, as Syndication Agent, and Bank of America, N.A., BNP Paribas, Goldman Sachs Bank USA, Morgan Stanley Bank, N.A., U.S. Bank National Association and Wells Fargo Bank, N.A., as Documentation Agents. 

Pursuant to the provisions of Section 2.18 of the Credit Agreement, the undersigned hereby certifies that (i) it is the sole record
and beneficial owner of the participation in respect of which it is providing this certificate, (ii) it is not a bank within the meaning of Section 881(c)(3)(A) of the Code, (iii) it is not a ten percent shareholder of the Company within
the meaning of Section 871(h)(3)(B) of the Code, (iv) it is not a controlled foreign corporation related to the Company as described in Section 881(c)(3)(C) of the Code, and (v) the interest payments in question are not
effectively connected with the undersigned’s conduct of a U.S. trade or business. 
 The undersigned has furnished its
participating Bank with a certificate of its non-U.S. Person status on IRS Form W-8BEN or W-8BEN-E, as applicable. By executing this certificate, the undersigned agrees that (1) if the
information provided on this certificate changes, the undersigned shall promptly so inform such Bank in writing and (2) the undersigned shall have at all times furnished such Bank with a properly completed and currently effective certificate in
either the calendar year in which each payment is to be made to the undersigned, or in either of the two calendar years preceding such payments. 

Unless otherwise defined herein, terms defined in the Credit Agreement and used herein shall have the meanings given to them in the Credit
Agreement. 
 [NAME OF PARTICIPANT] 
  

			
	By:	 	  

		 	Name:
		 	Title:
		
	Date:	 	                 , 20    

 EXHIBIT G-4 

FORM OF 
 U.S. TAX
CERTIFICATE 
 (For Foreign Banks That Are Partnerships For U.S. Federal Income Tax Purposes) 

Reference is hereby made to the Revolving Credit Facility Agreement dated as of August 3, 2016 (as amended, supplemented or otherwise modified
from time to time, the “Credit Agreement”), among Southwest Airlines Co., the Banks party thereto, JPMorgan Chase Bank, N.A., as Paying Agent, JPMorgan Chase Bank, N.A. and Citibank, N.A., as Co-Administrative Agents, Barclays Bank PLC, as
Syndication Agent, and Bank of America, N.A., BNP Paribas, Goldman Sachs Bank USA, Morgan Stanley Bank, N.A., U.S. Bank National Association and Wells Fargo Bank, N.A., as Documentation Agents. 

Pursuant to the provisions of Section 2.18 of the Credit Agreement, the undersigned hereby certifies that (i) it is the sole record
owner of the Loan(s) (as well as any Note(s) evidencing such Loan(s)) in respect of which it is providing this certificate, (ii) its partners/members are the sole beneficial owners of such Loan(s) (as well as any Note(s) evidencing such
Loan(s)), (iii) with respect to the extension of credit pursuant to this Credit Agreement, neither the undersigned nor any of its partners/members is a bank extending credit pursuant to a loan agreement entered into in the ordinary course of
its trade or business within the meaning of Section 881(c)(3)(A) of the Code, (iv) none of its partners/members is a ten percent shareholder of the Company within the meaning of Section 871(h)(3)(B) of the Code, (v) none of its
partners/members is a controlled foreign corporation related to the Company as described in Section 881(c)(3)(C) of the Code, and (vi) the interest payments in question are not effectively connected with the undersigned’s or its
partners/members’ conduct of a U.S. trade or business. 
 The undersigned has furnished the Paying Agent and the Company with
IRS Form W-8IMY accompanied by one of the following forms from each of its partners/members that is claiming the portfolio interest exemption: (i) an IRS Form W-8BEN or W-8BEN-E, as applicable, or
(ii) an IRS Form W-8IMY accompanied by an IRS Form W-8BEN or W-8BEN-E, as applicable, from each of such partner’s/member’s beneficial owners that is claiming the portfolio interest exemption. By executing this certificate, the
undersigned agrees that (1) if the information provided on this certificate changes, the undersigned shall promptly so inform the Company and the Paying Agent and (2) the undersigned shall have at all times furnished the Company and the
Agent with a properly completed and currently effective certificate in either the calendar year in which each payment is to be made to the undersigned, or in either of the two calendar years preceding such payments. 

Unless otherwise defined herein, terms defined in the Credit Agreement and used herein shall have the meanings given to them in the Credit
Agreement. 
 [NAME OF BANK] 
  

			
	By:	 	  

		 	Name:
		 	Title:
		
	Date:	 	                 , 20    

 EXHIBIT H-1 

FORM OF INCREASED FACILITY ACTIVATION NOTICE 
  

	To:	JPMorgan Chase Bank, N.A., as Paying Agent 

	    	under the Credit Agreement referred to below 

 Reference is made to the $1,000,000,000
Revolving Credit Facility Agreement, dated as of August 3, 2016 (as amended, supplemented or otherwise modified from time to time, the “Credit Agreement”), among Southwest Airlines Co., the Banks party thereto, JPMorgan Chase Bank,
N.A., as Paying Agent, JPMorgan Chase Bank, N.A. and Citibank, N.A., as Co-Administrative Agents, Barclays Bank PLC, as Syndication Agent, and Bank of America, N.A., BNP Paribas, Goldman Sachs Bank USA, Morgan Stanley Bank, N.A., U.S. Bank National
Association and Wells Fargo Bank, N.A., as Documentation Agents. Capitalized terms used herein and not otherwise defined herein shall have the meanings assigned to such terms in the Credit Agreement. 

This notice is an Increased Facility Activation Notice referred to in Section 2.24 of the Credit Agreement, and the Company and each of the
Banks party hereto hereby notify you that: 
 1. Each Bank party hereto severally agrees to obtain a Commitment or increase the amount of
its Commitment as set forth opposite such Bank’s name on the signature pages hereof under the caption “Incremental Commitment Amount”. 

2. The Increased Facility Closing Date is             ,
20    . 
 3. The aggregate amount of incremental Commitments contemplated hereby is
$        . 
 4. The agreement of each Bank party hereto to obtain an incremental Commitment
on the Increased Facility Closing Date is subject to the satisfaction of the following conditions precedent: 
 (a)
Activation Notice. The Paying Agent shall have received this notice, executed and delivered by the Company and each Bank party hereto. 

(b) New Bank Supplement. The Paying Agent shall have received a New Bank Supplement, executed by any New Bank that
elects to be a “Bank” under the Credit Agreement. 
 (c) Representations and Warranties; No Defaults; Coverage
Ratio. (i) Each of the representations and warranties contained in Article V of the Credit Agreement shall be correct in all material respects (or, to the extent subject to materiality or Material Adverse Effect qualifiers, in all respects)
on and as of the Increased Facility Closing Date (or, if any such representation or warranty is expressly stated to have been made as of a specific date, as of such specific date), immediately prior to, and after giving effect to, the incremental
Commitments contemplated hereby, as though made on and as of the Increased Facility Closing Date, (ii) no Default or Event of Default shall have occurred and be continuing immediately prior to, and immediately after, giving effect to the incremental
Commitments contemplated hereby on the Increased Facility Closing Date and (iii) on a pro forma basis after giving effect to (x) the 

 
incremental Commitments contemplated hereby (assuming such incremental Commitments are fully drawn) and (y) any permanent repayment of Debt after the last day of the most recently ended fiscal
quarter for which the Company’s annual or quarterly Financial Statements have been most recently required to have been delivered pursuant to Section 6.01 of the Credit Agreement (assuming, for such purpose, that (A) such increase to the
Commitments (and the full drawing thereof) and any such permanent repayment of Debt occurred on the first day of the four fiscal quarter period for which the Company’s annual or quarterly Financial Statements have been most recently required to
have been delivered pursuant to Section 6.01 of the Credit Agreement and (B) such incremental Commitments had been borrowed as Eurodollar Loans with successive one-month Interest Periods during the four fiscal quarter period for which the
Company’s annual or quarterly Financial Statements have been most recently required to have been delivered pursuant to Section 6.01 of the Credit Agreement), the Coverage Ratio shall not be less than 1.25 to 1.0. 

(d) The Paying Agent shall have received the following, each dated (unless otherwise indicated) the Increased Facility Closing
Date: 
 (i) [insert other items to be delivered on the Increased Facility Closing Date, including, without limitation,
such legal opinions, board resolutions, certificates and other documents reasonably requested by the Paying Agent]. 

(e) Fees and Expenses. Any fees required to be paid on or before the Increased Facility Closing Date shall have been
paid. 
 (f) [Insert any other conditions precedent required by the Banks providing the incremental Commitments
contemplated by the applicable Increased Facility Activation Notice]. 
 5. Upon the satisfaction of the conditions precedent set forth
in Section 4 hereof on the Increased Facility Closing Date, each Bank party hereto shall have a Commitment under the Credit Agreement equal to (i) in the case of any New Bank, the amount set forth opposite such Bank’s name on the signature
pages hereof under the caption “Incremental Commitment Amount” and (ii) in the case of any Bank holding a Commitment under the Credit Agreement prior to the effectiveness of the Increased Facility Closing Date, an amount equal to the sum
of (x) such Bank’s Commitment prior to giving effect to the Increased Facility Closing Date plus (y) the amount set forth opposite such Bank’s name on the signature pages hereof under the caption “Incremental Commitment
Amount”. 
 [Signature Page Follows] 

  
 H-1-2 

  

			
	SOUTHWEST AIRLINES CO.
		
	By:	 	  

		 	Name:
		 	Title:

  
 H-1-3 

													
	Incremental Revolving Commitment Amount	 		 				 	 	[NAME OF BANK]
					
	$	 		 				 				 	
					
		 		 				 	 	By:	  	 	  

		 		 				 				 	Name:
		 		 				 				 	Title:

  
 H-1-4 

 CONSENTED TO: 

JPMORGAN CHASE BANK, N.A., 
 as Paying Agent 

 

			
	By:	 	  

		 	Name:
		 	Title:

  
 H-1-5 

 EXHIBIT H-2 

FORM OF NEW BANK SUPPLEMENT 

SUPPLEMENT, dated              , to the $1,000,000,000 Revolving
Credit Facility Agreement dated as of August 3, 2016 (as amended, supplemented or modified from time to time, the “Credit Agreement”), among Southwest Airlines Co., the Banks party thereto, JPMorgan Chase Bank, N.A., as Paying
Agent, JPMorgan Chase Bank, N.A. and Citibank, N.A., as Co-Administrative Agents, Barclays Bank PLC, as Syndication Agent, and Bank of America, N.A., BNP Paribas, Goldman Sachs Bank USA, Morgan Stanley Bank, N.A., U.S. Bank National Association and
Wells Fargo Bank, N.A., as Documentation Agents. Capitalized terms used herein and not otherwise defined herein shall have the meanings assigned to such terms in the Credit Agreement. 

W I T N E S S E T H: 

WHEREAS, the Credit Agreement provides in subsection 2.24(b) thereof that any bank or financial institution, although not originally a party
thereto, may become a party to the Credit Agreement in accordance with the terms thereof by executing and delivering to the Company and the Paying Agent a supplement to the Credit Agreement in substantially the form of this Supplement; and 

WHEREAS, the undersigned was not an original party to the Credit Agreement but now desires to become a party thereto; 

NOW, THEREFORE, the undersigned hereby agrees as follows: 

1. The undersigned agrees to be bound by the provisions of the Credit Agreement and agrees that it shall, on the date this Supplement is
accepted by the Company and the Paying Agent, become a Bank for all purposes of the Credit Agreement to the same extent as if originally a party thereto, with a Commitment of $        .

2. The undersigned (a) represents and warrants that (i) it has full power and authority, and has taken all action necessary, to execute and
deliver this Supplement and to consummate the transactions contemplated hereby and to become a Bank under the Credit Agreement, (ii) it satisfies the requirements, if any, specified in the Credit Agreement that are required to be satisfied by it in
order to obtain the Commitment contemplated hereby and become a Bank, (iii) it has received a copy of the Credit Agreement, together with copies of financial information and such other documents and information as it has deemed appropriate to make
its own credit analysis and decision to enter into this Supplement and to obtain the Commitment contemplated hereby on the basis of which it has made such analysis and decision independently and without reliance on the Paying Agent or any other Bank
and (iv) if it is a Foreign Bank, attached to this Supplement is any documentation required to be delivered by it pursuant to the terms of the Credit Agreement, duly completed and executed by the undersigned and (b) agrees that (i) it will,
independently and without reliance on the Paying Agent, any other Agent or any other Bank, and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit decisions in taking or not taking action
under the Credit Agreement, (ii) it will perform in accordance with their terms all of the obligations which by the terms of the Credit Agreement and the other Loan Papers are required to be performed by it as a Bank, (iii) appoints and authorizes
the Paying Agent to take such action on behalf of the undersigned and to exercise such powers under the Credit Agreement and the other Loan Papers as are delegated to the Paying Agent by the terms 

 
thereof, together with such powers as are reasonably incidental thereto and (iv) from and after the date hereof, it shall be bound by the provisions of the Credit Agreement as a Bank thereunder
and, to the extent of the Commitment contemplated hereby, shall have the obligations of a Bank thereunder. 
 3. The undersigned’s
address for notices for the purposes of the Credit Agreement is as follows: 
  

					
	 Name
	  	Notice and Contact Information	  	Lending Offices
		  		  	Domestic
			
		  		  	Eurodollar  

 IN WITNESS WHEREOF, the undersigned has caused this Supplement to be executed and delivered by a duly
authorized officer on the date first above written. 
  

			
	 [NAME OF NEW BANK]

		
	 By:
	 	  

		 	Title:

  
 H-2-2 

	
	 Accepted this      day of

	
	             ,
    

	
	 SOUTHWEST AIRLINES CO.

  

			
	By:	 	  

		 	Title:
	
	JPMORGAN CHASE BANK, N.A.,
	    as Paying Agent

  

			
	By:	 	  

		 	Title:

  
 H-2-3incy_Ex_10_1

		

			Exhibit 10.1

		

		

			CONFIDENTIAL TREATMENT MATERIAL

		

		

			 

		

		
			CONFIDENTIAL TREATMENT REQUESTED:  Information for which confidential treatment has been requested is omitted and is noted with asterisks.  An unredacted version of this document has been filed separately with the Securities and Exchange Commission (the “Commission”).
		

		
			AMENDMENT NO. 4
		

		
			TO
		

		
			COLLABORATION AND LICENSE AGREEMENT
		

		
			THIS AMENDMENT NO. 4 TO COLLABORATION AND LICENSE AGREEMENT (this “Amendment No. 4”) is entered into as of the 5th day of April, 2016 (the “Effective Date”), by and between Incyte Corporation, a Delaware corporation having an office at 1801 Augustine Cut-Off, Wilmington, Delaware (“Incyte”), and Novartis International Pharmaceutical Ltd., a limited company organized under the laws of Bermuda having an office at 131 Front Street, Hamilton, Bermuda HM 12 (“Novartis”).  
		

		
			WHEREAS, Incyte and Novartis entered into that certain Collaboration and License Agreement dated as of November 24, 2009 (as amended to date, the “Original Agreement”); and
		

		
			WHEREAS, Incyte and Novartis wish to amend the Original Agreement pursuant to and in accordance with the terms and conditions of this Amendment No. 4.
		

		
			NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties hereby agree as follows:
		

			
	
			
				ARTICLE I
			

Definitions

			
	
			
				 1.1
			Definitions.  Capitalized terms used in this Amendment No. 4 but not defined herein shall have the meaning ascribed to them in the Original Agreement.

			
	
			
				ARTICLE II
			

AMENDMENTS

			
	
			
				 2.1
			New Definitions.

			
	
			
				 (a)
			The Original Agreement is hereby amended to insert the following new definition into ARTICLE I  immediately after Section 1.42:

		
			

		 

		

			[**] = Portions of this exhibit have been omitted pursuant to a confidential treatment request.  An unredacted version of this exhibit has been filed separately with the Commission.     

		

		

			 

		

 

		

			CONFIDENTIAL TREATMENT MATERIAL

		

		

			 

		

“1.42a   “Graft-Versus-Host Disease Field” means the treatment, control, mitigation, prevention or cure of all graft-versus-host disease Indications as defined in subsections 279.50 through 279.53 of the International Classification of Diseases, Ninth Revision, Clinical Modification (ICD-9-CM) as set forth in Exhibit J to this Agreement.  [**]”
		

		
			Schedule I attached to this Amendment No. 4 sets forth the terms of the Exhibit J referred to in the preceding amendment.
		

			
	
			
				 (b)
			The Original Agreement is hereby amended such that Section 1.59 thereof is hereby deleted and replaced in its entirety with the following new definition:

		
			“1.50“JAK Field” means the Hematology Field, the Oncology Field and the Graft-Versus-Host Disease Field, and includes all forms of administration except topical.”
		

			
	
			
				 (c)
			The Original Agreement is hereby amended to insert the following new definitions into ARTICLE 1 immediately after Section 1.68:

		
			“1.68a   “Lilly” means Eli Lilly and Company, an Indiana corporation having an office at Lilly Corporate Center, Indianapolis, Indiana 46285.  
		

		
			1.68b   “Lilly Agreement” means the License, Development and Commercialization Agreement dated as of December 18, 2009, by and between Incyte and Lilly, as amended effective June 22, 2010, as further amended effective August 1, 2011 and as further amended effective March 31, 2016.”
		

			
	
			
				 (d)
			The Original Agreement is hereby amended to insert the following new definition into ARTICLE I immediately after Section 1.105:

		
			“1.105a    “Ruxolitinib Backup Compound” means any JAK Licensed Compound other than ruxolitinib.”
		

			
	
			
				 2.2
			Rights Granted by Incyte to Novartis.  The Original Agreement is hereby amended to delete Section 2.1(b) and replace it in its entirety with the following:

		
			“(b)JAK License Grant; Option for Ruxolitinib Backup Compounds in GVHD.
		

			
	
			
				 (i)
			Subject to the terms of this Agreement, Incyte hereby grants Novartis, during the Term, an exclusive (even as to Incyte and its Affiliates), royalty-bearing, non‐transferable (except in accordance with Section 14.3) 

		 

		

			2

		

		

			 

		

		

			[**] = Portions of this exhibit have been omitted pursuant to a confidential treatment request.  An unredacted version of this exhibit has been filed separately with the Commission.

		

		

			 

		

		

			 

		

 

		

			CONFIDENTIAL TREATMENT MATERIAL

		

		

			 

		

	license, with the right to sublicense (subject to Section 2.3), under Incyte IP and Incyte’s and its Affiliates’ interests in Joint IP, to (i) research, Develop, Commercialize, make, have made, use, offer for sale, sell and import JAK Licensed Compounds and JAK Licensed Products in the Novartis JAK Territory in the Hematology Field and the Oncology Field (including all forms of administration except topical) and (ii) research, Develop, make and have made JAK Licensed Compounds and JAK Licensed Products in the Incyte Territory for the sole purpose of using, offering for sale and selling JAK Licensed Products in, and importing JAK Licensed Compounds and JAK Licensed Products into, the Novartis JAK Territory in the Hematology Field and the Oncology Field (including all forms of administration except topical); provided however, that Novartis may not, directly or indirectly, conduct Clinical Trials or other clinical studies, including any investigator initiated studies, utilizing JAK Licensed Compounds or JAK Licensed Products in the Hematology Field or the Oncology Field in the Incyte Territory without the prior approval of the JSC.

			
	
			
				 (ii)
			Subject to the terms of this Agreement, Incyte hereby grants Novartis, during the Term, an exclusive (even as to Incyte and its Affiliates), royalty-bearing, non‐transferable (except in accordance with Section 14.3) license, with the right to sublicense (subject to Section 2.3), under Incyte IP and Incyte’s and its Affiliates’ interests in Joint IP, to (i) research, Develop, Commercialize, make, have made, use, offer for sale, sell and import ruxolitinib,  any Ruxolitinib Backup Compounds with respect to which Novartis has exercised a Rux Backup Compound Option (as defined below) and JAK Licensed Products in the Novartis JAK Territory in the Graft-Versus-Host Disease Field (including all forms of administration except topical) and (ii) research, Develop, make and have made ruxolitinib,  such Ruxolitinib Backup Compounds and JAK Licensed Products in the Incyte Territory for the sole purpose of using, offering for sale and selling ruxolitinib,  such Ruxolitinib Backup Compounds and JAK Licensed Products in, and importing ruxolitinib,  such Ruxolitinib Backup Compounds and JAK Licensed Products into, the Novartis JAK Territory in the Graft-Versus-Host Disease Field (including all forms of administration except topical); provided however, that Novartis may not, directly or indirectly, conduct Clinical Trials or other clinical studies, including any investigator initiated studies, utilizing ruxolitinib, any such Ruxolitinib Backup Compounds or JAK Licensed Products in the Graft-Versus-Host Disease Field in the Incyte Territory without the prior approval of the JSC.  For purposes of this Section 2.1(b)(ii), the license grant to JAK Licensed Products in the case of a JAK Licensed Product containing a Ruxolitinib Backup Compound shall be effective from and after the exercise by Novartis of the Rux Backup Compound Option with respect to such Ruxolitinib Backup Compound.

		 

		

			3

		

		

			 

		

		

			[**] = Portions of this exhibit have been omitted pursuant to a confidential treatment request.  An unredacted version of this exhibit has been filed separately with the Commission.

		

		

			 

		

		

			 

		

 

		

			CONFIDENTIAL TREATMENT MATERIAL

		

		

			 

		

			
	
			
				 (iii)
			If at any time during the Term, Incyte or its Affiliates acquires (in any form of agreement or other arrangement, including a waiver under or amendment, termination or expiration of any agreement or other arrangement) Control of a Ruxolitinib Backup Compound or any rights therein in any Indication within the Graft-Versus-Host Disease Field anywhere in the world, it shall provide Novartis with prompt written notice thereof (which notice shall include a description in reasonable detail of such Ruxolitinib Backup Compound  or any rights therein, as the case may be, and the circumstances under which Incyte gained Control thereof) (the “Incyte Rux Backup Compound Notice”), together with a Rux Backup Compound Information Package (as defined below).  Novartis shall have the right to request and, within [**] of receipt of such request Incyte shall provide, any other information or data reasonably relevant to the Novartis’ determination as to whether or not to exercise the Rux Backup Compound Option with respect to such Ruxolitinib Backup Compound or rights therein.  Novartis shall have the exclusive option (a “Rux Backup Compound Option”) to acquire rights with respect to any or all of such Ruxolitinib Backup Compound or rights therein, as the case may be, in the Graft-Versus-Host Disease Field on the terms set forth in this Section 2.1(b)(iii) without any additional consideration to Incyte therefor (including any payment, grant of rights or assumption of obligations).  If Novartis desires to exercise the Rux Backup Compound Option, it shall provide written notice thereof to Incyte within [**] of Novartis’ receipt of all of the following:  (x) the Incyte Rux Backup Compound Notice, (y) the Rux Backup Compound Information Package and (z) all information and data requested by Novartis in accordance with this section. Such notice shall include a description of the Rux Backup Compound or rights therein with respect to which Novartis is exercising the Rux Backup Compound Option.  Whether or not to exercise a Rux Backup Compound Option and whether to exercise the Rux Backup Compound Option with respect to all or some of the Ruxolitinib Backup Compound or any rights therein shall be in Novartis’ sole discretion.  If Novartis exercises a Rux Backup Compound Option, then the license granted to Novartis pursuant to Section 2.1(b)(ii) shall, from and after such exercise, include such Ruxolitinib Backup Compound or rights therein, as the case may be, with respect to which Novartis has exercised the Rux Backup Compound Option.  For clarity, Novartis’ rights under this Section 2.1(b)(iii) with respect to any Ruxolitinib Backup Compound or rights therein, as the case may be, shall be unaffected by any previous exercise or failure to exercise of a Rux Backup Compound Option by Novartis.  For purposes hereof, “Rux Backup Compound Information Package” means, with respect to a Ruxolitinib Backup Compound or rights therein, all material pre-clinical and clinical data, information relevant to the Intellectual Property Rights Controlled by Incyte or its Affiliates with respect to such Ruxolitinib Backup Compound or rights therein and any other information or data Controlled by Incyte or its Affiliates and reasonably relevant to the Development, Manufacture or Commercialization of such Ruxolitinib Backup Compound or rights therein in the Graft-Versus-Host Disease Field.”  

			
	
			
				 2.3
			Non-Compete – JAK 2 Inhibitor Compounds and JAK Licensed Compounds.

			
	
			
				 (a)
			The Original Agreement is hereby amended to delete Section 2.6(b)(i) and replace it in its entirety with the following:

		
			“(i)During the JAK Program Term, Incyte agrees not to, and shall cause its Affiliates not to, directly or indirectly, including through any ownership interest in any other entity (other than through an ownership interest of [**] of a public company), Develop or Commercialize any JAK2 Inhibitor Compounds in the JAK Field anywhere in the world, other than as expressly permitted under this Agreement (including Section 4.5).  Notwithstanding the foregoing, nothing in this Agreement shall prohibit Incyte or its Affiliates from Developing or Commercializing (x) any JAK Excluded Compound in any field anywhere in the world or (y) baricitinib and its back-up compounds [**] in the Graft-Versus-Host Disease Field anywhere in the world.”
		

			
	
			
				 (b)
			The Original Agreement is hereby amended to delete Section 2.6(b)(iii) and replace it in its entirety with the following:

		
			“(iii)For the avoidance of doubt, neither Novartis nor its Affiliates will Develop or Commercialize any JAK Licensed Compounds anywhere in the world for the treatment of any Inflammatory Disease other than ruxolitinib and other than any Ruxolitinib Backup Compounds with respect to which Novartis has exercised a Rux Backup Compound Option in the Graft-Versus-Host Disease Field in the Novartis Territory.”  
		

			
	
			
				 2.4
			Milestone Payments.

			
	
			
				 (a)
			Sections 8.2(c) and (d) of the Original Agreement are each hereby amended to add the following note at the end of such Sections:  

		
			“For clarity, achievement of any milestone in an Indication in the Graft-Versus-Host Disease Field will not constitute achievement of any milestone under this Section.  [**]”
		

			
	
			
				 (b)
			Section 8.2 of the Original Agreement is hereby amended to insert the following immediately after Section 8.2(d):

		
			“(d1)Graft-Versus-Host Disease Milestones.  
		

		
			

		 

		

			4

		

		

			 

		

		

			[**] = Portions of this exhibit have been omitted pursuant to a confidential treatment request.  An unredacted version of this exhibit has been filed separately with the Commission.

		

		

			 

		

		

			 

		

 

		

			CONFIDENTIAL TREATMENT MATERIAL

		

		

			 

		

 
		

			
	
			
				 (i)
			[**]

			
	
			
				 (ii)
			[**]

			
	
			
				 (iii)
			[**]

		
			The payment terms set forth in Section 8.2(i) shall apply with respect to any milestone payment under this Section 8.2(d1). For clarity, in no event will milestones paid under this Section 8.2(d1) exceed US$75,000,000 in the aggregate.”
		

			
	
			
				 (c)
			The Original Agreement is hereby amended to delete Section 8.2(f) and replace it in its entirety with the following:

		
			“(f)Except as expressly otherwise specified herein, none of the payments listed in this Section 8.2, including any Graft-Versus-Host Disease Milestone Payments, shall be payable more than once, and, subject to the foregoing, each shall be payable at the first achievement of a milestone event for a Licensed Product and shall not be payable again if subsequently another Licensed Product achieves the same milestone event.  [**]”
		

			
	
			
				 (d)
			The Original Agreement is hereby amended to add Exhibit J at the end of the Original Agreement.  For purposes of clarity, a JAK Licensed Product containing ruxolitinib or any Ruxolitinib Backup Compounds with respect to which Novartis has exercised a Rux Backup Compound Option in an Indication in the Graft-Versus-Host Disease Field shall be deemed to be a JAK Licensed Product for all purposes, including, without limitation, Section 8.2(e)(ii) (JAK Licensed Product Sales Milestones) and Section 8.3(a)(ii) (Royalties – JAK Licensed Products).

			
	
			
				ARTICLE III
			

Payments

			
	
			
				 3.1
			Upfront Payment.  Novartis shall pay to Incyte a one-time, non-creditable, non-refundable payment of US$5,000,000 within [**] after receipt of an invoice therefor, which invoice may not be submitted prior to the Effective Date.

		 

		

			5

		

		

			 

		

		

			[**] = Portions of this exhibit have been omitted pursuant to a confidential treatment request.  An unredacted version of this exhibit has been filed separately with the Commission.

		

		

			 

		

		

			 

		

 

		

			CONFIDENTIAL TREATMENT MATERIAL

		

		

			 

		

			
	
			
				ARTICLE IV
			

Representations and Warranties

			
	
			
				 4.1
			Representation of Authority; Consents.  Incyte and Novartis each represents and warrants to the other Party that:

			
	
			
				 (a)
			as of the Effective Date, it has full right, power and authority to enter into this Amendment No. 4; 

			
	
			
				 (b)
			as of the Effective Date, this Amendment No. 4 has been duly executed by such Party and constitutes a legal, valid and binding obligation of such Party, enforceable in accordance with its terms, except as enforceability may be limited by bankruptcy, fraudulent conveyance, insolvency, reorganization, moratorium and other Laws relating to or affecting creditors’ rights generally and by general equitable principles and public policy constraints (including those pertaining to limitations and/or exclusions of liability, competition Laws, penalties and jurisdictional issues including conflicts of Laws); and 

			
	
			
				 (c)
			as of the Effective Date, all necessary consents, approvals and authorizations of all government authorities and other persons (including, in the case of Incyte, Lilly) required to be obtained by such Party in connection with the execution, delivery and performance of this Amendment No. 4 have been obtained.

			
	
			
				 4.2
			No Conflict.  Each Party represents and warrants to the other Party that the execution and delivery of this Amendment No. 4 and the performance of such Party’s obligations hereunder (a) do not conflict with or violate such Party’s corporate charter and bylaws or any requirement of applicable Laws and (b) do not and shall not conflict with, violate or breach or constitute a default or require any consent under, any oral or written contractual obligation of such Party (including in the case of Incyte, the Lilly Agreement).  Each Party agrees that it shall not during the term of the Original Agreement grant any right, license, consent or privilege to any Third Party (including, in the case of Incyte, to Lilly) or otherwise undertake any action, either directly or indirectly, that would conflict with the rights granted to the other Party or interfere with any obligations of such Party set forth in this Amendment No. 4.  

			
	
			
				 4.3
			No Ruxolitinib Backup Compounds.  Incyte represents and warrants to Novartis that, as of the Effective Date, it does not Control any Ruxolitinib Backup Compounds for use in any Indication within the Graft-Versus-Host Disease Field.

			
	
			
				ARTICLE V
			

Indemnification

			
	
			
				 5.1
			By Novartis.  

		 

		

			6

		

		

			 

		

		

			[**] = Portions of this exhibit have been omitted pursuant to a confidential treatment request.  An unredacted version of this exhibit has been filed separately with the Commission.

		

		

			 

		

		

			 

		

 

		

			CONFIDENTIAL TREATMENT MATERIAL

		

		

			 

		

			
	
			
				 (a)
			Novartis agrees, at Novartis’s cost and expense, to defend, indemnify and hold harmless the Incyte Indemnified Parties from and against any losses, costs, damages, fees or expenses arising out of any Third Party claim relating to or alleging any facts that would constitute a breach by Novartis of any of its representations, warranties or obligations pursuant to this Amendment No. 4.

			
	
			
				 (b)
			Sections 10.1(b) and (c) of the Original Agreement shall apply mutatis mutandis to this Amendment No. 4 as if set forth herein in full.

			
	
			
				 5.2
			By Incyte.  

			
	
			
				 (a)
			Incyte agrees, at Incyte’s cost and expense, to defend, indemnify and hold harmless the Novartis Indemnified Parties from and against any losses, costs, damages, fees or expenses arising out of any Third Party claim relating to or alleging any facts that would constitute a breach by Incyte of any of its representations, warranties or obligations pursuant to this Amendment No. 4.

			
	
			
				 (b)
			Sections 10.2(b) and (c) of the Original Agreement shall apply mutatis mutandis to this Amendment No. 4 as if set forth herein in full.

			
	
			
				ARTICLE VI
			

miscellaneous

			
	
			
				 6.1
			Effect on Original Agreement.  Except to the extent amended pursuant to this Amendment No. 4, the Original Agreement shall continue in full force and effect in accordance with its terms.

			
	
			
				 6.2
			Publicity.  Except as required by judicial order or applicable Law, neither Party shall make any public announcement concerning this Amendment No. 4 without the prior written consent of the other Party, which consent shall not be unreasonably withheld or delayed.  Except in the case of the initial press release announcing the execution of this Amendment 4, the Party preparing any such public announcement shall provide the other Party with a draft thereof at least [**] prior to the date on which such Party would like to make the public announcement.  Notwithstanding the foregoing, Incyte may issue a press release in the form attached as Schedule II within one (1) Business day after the Effective Date.  Either Party shall be permitted to disclose publicly any information which was previously approved for public disclosure pursuant to this Section 6.2.

			
	
			
				 6.3
			Miscellaneous Provisions.  The following provisions of the Original Agreement shall apply to this Amendment No. 4 as if set forth herein in full:  Section 14.1 (Governing Law); Section 14.2 (Consent to Jurisdiction); Section 14.6 (Notices); Section 14.11 (Headings); Section 

		 

		

			7

		

		

			 

		

		

			[**] = Portions of this exhibit have been omitted pursuant to a confidential treatment request.  An unredacted version of this exhibit has been filed separately with the Commission.

		

		

			 

		

		

			 

		

 

		

			CONFIDENTIAL TREATMENT MATERIAL

		

		

			 

		

	14.12 (No Implied Waivers; Rights Cumulative); Section 14.13 (Severability); Section 14.14 (Execution in Counterparts); Section 14.16 (Exhibits).

		
			 
		

		
			 
		

		
			[THE REMAINDER OF THIS PAGE HAS BEEN INTENTIONALLY LEFT BLANK]
		

		
			 
		

		
			

		 

		

			8

		

		

			 

		

		

			[**] = Portions of this exhibit have been omitted pursuant to a confidential treatment request.  An unredacted version of this exhibit has been filed separately with the Commission.

		

		

			 

		

		

			 

		

 

		

			CONFIDENTIAL TREATMENT MATERIAL

		

		

			 

		

 
		

		
			IN WITNESS WHEREOF, the Parties have caused their duly authorized officers to execute and acknowledge this Amendment No. 4 as of the date first written above.
		

			
					
						NOVARTIS INTERNATIONAL PHARMACEUTICAL LTD.

					
					
						INCYTE CORPORATION

				
	
					
						 

					
						By: /s/ Michael Jones_________________

					
						Name:  Michael Jones

					
						Title:  Director

					
					
						 

					
						By:  /s/ Hervé Hoppenot _______________

					
						Name:  Hervé Hoppenot

					
						Title:  President and CEO

				

		
			 
		

			
					
						NOVARTIS INTERNATIONAL PHARMACEUTICAL LTD.

				
	
					
						 

					
						By:  /s/ M. Tonesan Amissah___________

					
						Name:  M. Tonesan Amissah

					
						Title:  Alternate Director

				

		
			 
		

		
			 
		

		
			 
		

		
			
		

		
			

		 

		

			 

		

		

			 

		

		

			[**] = Portions of this exhibit have been omitted pursuant to a confidential treatment request.  An unredacted version of this exhibit has been filed separately with the Commission.

		

		

			 

		

		

			 

		

 

		

			CONFIDENTIAL TREATMENT MATERIAL

		

		

			 

		

Schedule I
		

		
			 
		

		
			Exhibit J
		

		
			 
		

		
			Graft-Versus-Host Disease Field (ICD-9-CM)
		

		
			 
		

		
			279.50 Graft-versus-host disease, unspecified (including prophylaxis of Graft-versus-host disease)
		

		
			279.51 Acute graft-versus-host disease
		

		
			279.52 Chronic graft-versus-host disease
		

		
			279.53 Acute on chronic graft-versus-host disease
		

		
			
		

		
			

		 

		

			 

		

		

			 

		

		

			[**] = Portions of this exhibit have been omitted pursuant to a confidential treatment request.  An unredacted version of this exhibit has been filed separately with the Commission.

		

		

			 

		

		

			 

		

 

		

			CONFIDENTIAL TREATMENT MATERIAL

		

		

			 

		

Schedule II
		

		
			 
		

		
			Press Release
		

		
			 
		

		
			See Attached.
		

		
			 
		

		 

		

			 

		

		

			 

		

		

			[**] = Portions of this exhibit have been omitted pursuant to a confidential treatment request.  An unredacted version of this exhibit has been filed separately with the Commission.

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