Document:

Amended and Restated Credit Agreement

 Exhibit 10.1 
 EXECUTION VERSION 
  

 
  

Published CUSIP Number: 89177QAC6 
 AMENDED AND RESTATED CREDIT AGREEMENT 
 Dated as of February 15, 2012

 among 

TOWER GROUP, INC., 
 as the Borrower, 
 BANK OF AMERICA, N.A., 

as Administrative Agent, 
 Fronting Bank and L/C Administrator, 
 JPMORGAN CHASE BANK, N.A.,

 as Syndication Agent, 
 KEYBANK NATIONAL ASSOCIATION and 
 PNC BANK, NATIONAL ASSOCIATION,

 as Co-Documentation Agents 
 and 
 the Other Lenders Party Hereto 

MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED, 

and 
 J.P.
MORGAN SECURITIES LLC 
 as 
 Joint Lead Arrangers and Joint Book Managers 
  

 
  

 TABLE OF CONTENTS 

 

							
	 Section
	  	 	  	Page	 
		
	 ARTICLE I            DEFINITIONS AND ACCOUNTING
TERMS
	  	 	1	  
			
	 1.01
	  	 Defined Terms
	  	 	1	  
	 1.02
	  	 Other Interpretive Provisions
	  	 	23	  
	 1.03
	  	 Accounting Terms
	  	 	24	  
	 1.04
	  	 Rounding
	  	 	24	  
	 1.05
	  	 Times of Day
	  	 	24	  
	 1.06
	  	 Letter of Credit Amounts
	  	 	24	  
		
	 ARTICLE II          THE COMMITMENTS AND CREDIT
EXTENSIONS
	  	 	25	  
			
	 2.01
	  	 Loans
	  	 	25	  
	 2.02
	  	 Borrowings, Conversions and Continuations of Loans
	  	 	25	  
	 2.03
	  	 Letters of Credit
	  	 	27	  
	 2.04
	  	 Prepayments
	  	 	37	  
	 2.05
	  	 Termination or Reduction of Commitments
	  	 	37	  
	 2.06
	  	 Repayment of Loans
	  	 	37	  
	 2.07
	  	 Interest
	  	 	38	  
	 2.08
	  	 Fees
	  	 	38	  
	 2.09
	  	 Computation of Interest and Fees
	  	 	39	  
	 2.10
	  	 Evidence of Indebtedness
	  	 	39	  
	 2.11
	  	 Payments Generally; Administrative Agent’s Clawback
	  	 	40	  
	 2.12
	  	 Sharing of Payments by Lenders
	  	 	41	  
	 2.13
	  	 Increase in Commitments
	  	 	42	  
	 2.14
	  	 Cash Collateral
	  	 	44	  
	 2.15
	  	 Defaulting Lenders
	  	 	45	  
		
	 ARTICLE III         TAXES, YIELD PROTECTION AND
ILLEGALITY
	  	 	48	  
			
	 3.01
	  	 Taxes
	  	 	48	  
	 3.02
	  	 Illegality
	  	 	52	  
	 3.03
	  	 Inability to Determine Rates
	  	 	53	  
	 3.04
	  	 Increased Costs; Reserves on Eurodollar Rate Loans
	  	 	53	  
	 3.05
	  	 Compensation for Losses
	  	 	55	  
	 3.06
	  	 Mitigation Obligations; Replacement of Lenders
	  	 	55	  
	 3.07
	  	 Survival
	  	 	56	  
		
	 ARTICLE IV         CONDITIONS PRECEDENT TO CREDIT
EXTENSIONS
	  	 	56	  
			
	 4.01
	  	 Conditions of Initial Credit Extension
	  	 	56	  
	 4.02
	  	 Conditions to all Credit Extensions
	  	 	58	  
		
	 ARTICLE V           REPRESENTATIONS AND
WARRANTIES
	  	 	58	  
			
	 5.01
	  	 Existence, Qualification and Power
	  	 	58	  
	 5.02
	  	 Authorization; No Contravention
	  	 	59	  
	 5.03
	  	 Governmental Authorization; Other Consents
	  	 	59	  
	 5.04
	  	 Binding Effect
	  	 	59	  

  
 i 

							
	 5.05
	  	 Financial Statements; No Material Adverse Effect
	  	 	59	  
	 5.06
	  	 Litigation
	  	 	60	  
	 5.07
	  	 No Default
	  	 	60	  
	 5.08
	  	 Ownership of Property; Liens
	  	 	60	  
	 5.09
	  	 Insurance
	  	 	60	  
	 5.10
	  	 Taxes
	  	 	60	  
	 5.11
	  	 ERISA Compliance
	  	 	60	  
	 5.12
	  	 Subsidiaries; Equity Interests
	  	 	61	  
	 5.13
	  	 Margin Regulations; Investment Company Act
	  	 	61	  
	 5.14
	  	 Disclosure
	  	 	62	  
	 5.15
	  	 Compliance with Laws
	  	 	62	  
	 5.16
	  	 Taxpayer Identification Number
	  	 	62	  
	 5.17
	  	 Solvency
	  	 	62	  
		
	 ARTICLE VI         AFFIRMATIVE COVENANTS
	  	 	63	  
			
	 6.01
	  	 Financial Statements
	  	 	63	  
	 6.02
	  	 Certificates; Other Information
	  	 	64	  
	 6.03
	  	 Notices
	  	 	66	  
	 6.04
	  	 Payment of Obligations
	  	 	66	  
	 6.05
	  	 Preservation of Existence, Etc.
	  	 	66	  
	 6.06
	  	 Maintenance of Properties
	  	 	66	  
	 6.07
	  	 Maintenance of Insurance
	  	 	67	  
	 6.08
	  	 Compliance with Laws
	  	 	67	  
	 6.09
	  	 Books and Records
	  	 	67	  
	 6.10
	  	 Inspection Rights
	  	 	67	  
	 6.11
	  	 Use of Proceeds
	  	 	67	  
		
	 ARTICLE VII        NEGATIVE COVENANTS
	  	 	67	  
			
	 7.01
	  	 Liens
	  	 	67	  
	 7.02
	  	 Indebtedness
	  	 	69	  
	 7.03
	  	 Fundamental Changes
	  	 	69	  
	 7.04
	  	 Dispositions
	  	 	70	  
	 7.05
	  	 Restricted Payments
	  	 	71	  
	 7.06
	  	 Change in Nature of Business; Hedging
	  	 	72	  
	 7.07
	  	 Transactions with Affiliates
	  	 	72	  
	 7.08
	  	 Burdensome Agreements
	  	 	72	  
	 7.09
	  	 Use of Proceeds
	  	 	73	  
	 7.10
	  	 Financial Covenants
	  	 	73	  
	 7.11
	  	 Investments in Reciprocal Insurers
	  	 	73	  
		
	 ARTICLE VIII       EVENTS OF DEFAULT AND REMEDIES
	  	 	74	  
			
	 8.01
	  	 Events of Default
	  	 	74	  
	 8.02
	  	 Remedies Upon Event of Default
	  	 	76	  
	 8.03
	  	 Application of Funds
	  	 	76	  

  
 ii 

							
	 ARTICLE IX         ADMINISTRATIVE AGENT
	  	 	77	  
			
	 9.01
	  	 Appointment and Authority
	  	 	77	  
	 9.02
	  	 Rights as a Lender
	  	 	78	  
	 9.03
	  	 Exculpatory Provisions
	  	 	78	  
	 9.04
	  	 Reliance by Administrative Agent
	  	 	79	  
	 9.05
	  	 Delegation of Duties
	  	 	79	  
	 9.06
	  	 Resignation of Administrative Agent
	  	 	79	  
	 9.07
	  	 Non-Reliance on Administrative Agent and Other Lenders
	  	 	81	  
	 9.08
	  	 No Other Duties, Etc.
	  	 	81	  
	 9.09
	  	 Administrative Agent May File Proofs of Claim
	  	 	81	  
		
	 ARTICLE X          MISCELLANEOUS
	  	 	82	  
			
	 10.01
	  	 Amendments, Etc.
	  	 	82	  
	 10.02
	  	 Notices; Effectiveness; Electronic Communication
	  	 	83	  
	 10.03
	  	 No Waiver; Cumulative Remedies; Enforcement
	  	 	85	  
	 10.04
	  	 Expenses; Indemnity; Damage Waiver
	  	 	86	  
	 10.05
	  	 Payments Set Aside
	  	 	88	  
	 10.06
	  	 Successors and Assigns
	  	 	88	  
	 10.07
	  	 Treatment of Certain Information; Confidentiality
	  	 	93	  
	 10.08
	  	 Right of Setoff
	  	 	94	  
	 10.09
	  	 Interest Rate Limitation
	  	 	95	  
	 10.10
	  	 Counterparts; Integration; Effectiveness
	  	 	95	  
	 10.11
	  	 Survival of Representations and Warranties
	  	 	95	  
	 10.12
	  	 Severability
	  	 	95	  
	 10.13
	  	 Replacement of Lenders
	  	 	96	  
	 10.14
	  	 Governing Law; Jurisdiction; Etc.
	  	 	96	  
	 10.15
	  	 Waiver of Jury Trial
	  	 	97	  
	 10.16
	  	 No Advisory or Fiduciary Responsibility
	  	 	98	  
	 10.17
	  	 Electronic Execution of Assignments and Certain Other Documents
	  	 	98	  
	 10.18
	  	 USA PATRIOT Act
	  	 	99	  
	 10.19
	  	 ENTIRE AGREEMENT
	  	 	99	  
	 10.20
	  	 Judgment Currency
	  	 	99	  
	 10.21
	  	 Effect of Restatement
	  	 	99	  

  
 iii

 SCHEDULES 
  

			
	 2.01
	  	Commitments and Applicable Percentages
	 5.05
	  	Statutory Financial Statements
	 5.06
	  	Litigation
	 5.10
	  	Tax Sharing Agreements
	 5.12
	  	Subsidiaries; Other Equity Investments
	 7.01
	  	Existing Liens
	 7.02
	  	Existing Indebtedness
	 7.10
	  	Material Insurance Subsidiary Minimum Statutory Surplus
	 10.02
	  	Administrative Agent’s Office; Certain Addresses for Notices

 EXHIBITS 
  

			
		  	Form of
		
	A	  	Loan Notice
	B	  	Note
	C	  	Compliance Certificate
	D-1	  	Assignment and Assumption
	D-2	  	Administrative Questionnaire
	E	  	Opinion Matters
	F	  	Several Letter of Credit
	G	  	Tax Forms

  
 iv 

 AMENDED AND RESTATED CREDIT AGREEMENT 

This AMENDED AND RESTATED CREDIT AGREEMENT (“Agreement”) is entered into as of February 15, 2012, among TOWER
GROUP, INC., a Delaware corporation (the “Borrower”), each lender from time to time party hereto (collectively, the “Lenders” and individually, a “Lender”), and BANK OF AMERICA, N.A., as
Administrative Agent, Fronting Bank and L/C Administrator. 
 The Borrower, certain financial institutions as lenders, and Bank
of America, as administrative agent, fronting bank and letter of credit administrator entered into a Credit Agreement, dated as of May 14, 2010 (as amended, the “Existing Credit Agreement). 

B. The parties wish to amend and restate the Existing Credit Agreement in its entirety. 

C. The parties hereto intend that this Agreement and the Loan Documents executed in connection herewith not effect a novation of the
obligations of the Borrower under the Existing Credit Agreement but merely a restatement, and where applicable, an amendment to the terms governing said obligations. 
 In consideration of the mutual covenants and agreements herein contained, the parties hereto covenant and agree as follows: 
 ARTICLE I 
 DEFINITIONS AND ACCOUNTING TERMS 

1.01 Defined Terms. As used in this Agreement, the following terms shall have the meanings set forth below: 

“Acquisition” means any transaction or series of related transactions, consummated on or after the date hereof, by which
the Borrower directly, or indirectly through one or more Subsidiaries, (i) acquires any going business, division thereof or line of business, or all or substantially all of the assets, of any Person, whether through purchase of assets, merger
or otherwise, or (ii) acquires Equity Interests of any Person that, following such Acquisition, will be deemed a Subsidiary of the Borrower. 
 “Administrative Agent” means Bank of America in its capacity as administrative agent under any of the Loan Documents, or any successor administrative agent. 

“Administrative Agent’s Office” means the Administrative Agent’s address and, as appropriate, account as set
forth on Schedule 10.02, or such other address or account as the Administrative Agent may from time to time notify to the Borrower and the Lenders. 
 “Administrative Questionnaire” means an Administrative Questionnaire in substantially the form of Exhibit D-2 or any other form approved by the Administrative Agent. 

 “Affiliate” means, with respect to a specified Person, another Person that
directly, or indirectly through one or more intermediaries, Controls or is Controlled by or is under common Control with the Person specified. 
 “Aggregate Commitments” means the Commitments of all the Lenders. 

“Agreement” has the meaning given such term in the introductory paragraph hereto. 

“A.M. Best Company” means A.M. Best Company or any successor thereto. 

“Annual Statement” means the annual financial statement of an Insurance Subsidiary as required to be filed with the
Applicable Insurance Regulatory Authority of such Insurance Subsidiary’s domicile, together with all exhibits or schedules filed therewith, prepared in conformity with SAP. 

“Applicable Insurance Regulatory Authority” means, when used with respect to the Borrower or any of its Subsidiaries, in
each case to the extent authorized or licensed or admitted to carry on or transact in one or more aspects of the business of selling, issuing or underwriting insurance or reinsurance or other businesses reasonably related thereto, (x) the
insurance department or similar administrative authority or agency located in each state or jurisdiction (foreign or domestic) in which the Borrower or such Subsidiary is domiciled or (y) to the extent asserting regulatory jurisdiction over the
Borrower or such Subsidiary, the insurance department, authority or agency in each state or jurisdiction (foreign or domestic) in which the Borrower or such Subsidiary is licensed, and shall include any Federal or national insurance regulatory
department, authority or agency that may be created and that asserts insurance regulatory jurisdiction over the Borrower or such Subsidiary. 
 “Applicable Issuing Party” means (a) in the case of Fronted Letters of Credit, the Fronting Bank and (b) in the case of Several Letters of Credit, the L/C Administrator.

 “Applicable Percentage” means with respect to any Lender at any time, the percentage (carried out to the
ninth decimal place) of the Aggregate Commitments represented by such Lender’s Commitment at such time, subject to adjustment as provided in Section 2.15. If the commitment of each Lender to make Loans and issue Several Letters of
Credit and the obligation of the Fronting Bank to issue Fronted Letters of Credit have been terminated pursuant to Section 8.02 or if the Aggregate Commitments have expired, then the Applicable Percentage of each Lender shall be
determined based on the Applicable Percentage of such Lender most recently in effect, giving effect to any subsequent assignments. The initial Applicable Percentage of each Lender is set forth opposite the name of such Lender on Schedule 2.01
or in the Assignment and Assumption pursuant to which such Lender becomes a party hereto, as applicable. The Applicable Percentage “of” a particular amount may also refer to the value obtained by multiplying the Applicable Percentage times
such amount. 

  
 2 

 “Applicable Rate” means, from time to time, the following percentages per
annum, based upon the Debt to Capitalization Ratio as set forth below: 
  

																			
	 Pricing Level
	  	Debt to
Capitalization
Ratio	 	Commitment
Fee	 	 	Applicable
Margin for
Eurodollar
Rate Loans	 	 	Letter of
Credit Fees	 	 	Applicable
Margin for
Base Rate
Loans	 
	 1
	  	3 25%	 	 	0.300	% 	 	 	1.750	% 	 	 	1.750	% 	 	 	0.750	% 
	 2
	  	3 15% but < 25%	 	 	0.250	% 	 	 	1.625	% 	 	 	1.625	% 	 	 	0.625	% 
	 3
	  	< 15%	 	 	0.200	% 	 	 	1.500	% 	 	 	1.500	% 	 	 	0.500	% 

 Initially, the Applicable Rate shall be Pricing Level 1. Thereafter, each change in the Applicable Rate
resulting from a change in the Debt to Capitalization Ratio shall become effective as of the first Business Day immediately following the date a Compliance Certificate is delivered pursuant to Section 6.02(a) (commencing with the
Compliance Certificate delivered with respect to the fiscal quarter ending December 31, 2011) provided, however, that if a Compliance Certificate is not delivered when due in accordance with such Section, then Pricing Level 1 shall apply as of
the first Business Day after the date on which such Compliance Certificate was required to have been delivered and remain in effect until a Compliance Certificate is delivered reflecting a different applicable Pricing Level. 

“Approved Fund” means any Fund that is administered or managed by (a) a Lender, (b) an Affiliate of a Lender
or (c) an entity or an Affiliate of an entity that administers or manages a Lender. 
 “Arrangers” means
J.P. Morgan Securities Inc. and Merrill Lynch, Pierce, Fenner & Smith Incorporated in their capacities as joint lead arrangers and joint book managers. 
 “Assignment and Assumption” means an assignment and assumption entered into by a Lender and an Eligible Assignee (with the consent of any party whose consent is required by
Section 10.06(b)), and accepted by the Administrative Agent, in substantially the form of Exhibit D-1 or any other form (including electronic documentation generated by MarkitClear or other electronic platform) approved by the
Administrative Agent. 
 “Audited Financial Statements” means the audited consolidated balance sheet of the
Borrower and its Subsidiaries for the fiscal year ended December 31, 2010, and the related consolidated statements of income or operations, shareholders’ equity and cash flows for such fiscal year of the Borrower and its Subsidiaries,
including the notes thereto. 
 “Availability Period” means the period from and including the Closing Date to
the earliest of (a) the Maturity Date, (b) the date of termination of the Aggregate Commitments pursuant to Section 2.05, and (c) the date of termination of the commitment of each Lender to make Loans and of the obligation
of the L/C Issuer to make L/C Credit Extensions pursuant to Section 8.02. 
 “Bank of America”
means Bank of America, N.A. and its successors. 
 “Bank of America Fee Letter” means the letter agreement,
dated January 10, 2012, among the Borrower, Merrill Lynch, Pierce, Fenner & Smith Incorporated and the Administrative Agent. 

  
 3 

 “Base Rate” means for any day a fluctuating rate per annum equal to the
highest of (a) the Federal Funds Rate plus 1/2 of 1%, (b) the rate of interest in effect for such day as publicly announced from time to time by Bank of America as its “prime rate,” and (c) the Eurodollar Rate plus 1.00%.
The “prime rate” is a rate set by Bank of America based upon various factors including Bank of America’s costs and desired return, general economic conditions and other factors, and is used as a reference point for pricing some loans,
which may be priced at, above, or below such announced rate. Any change in such prime rate announced by Bank of America shall take effect at the opening of business on the day specified in the public announcement of such change. 

“Base Rate Loan” means a Loan that bears interest based on the Base Rate. 

“Borrower” has the meaning specified in the introductory paragraph hereto. 

“Borrower L/C Collateral Account” has the meaning specified in Section 2.14(b). 

“Borrower Materials” has the meaning specified in Section 6.02. 

“Borrowing” means a borrowing consisting of simultaneous Loans of the same Type and, in the case of Eurodollar Rate
Loans, having the same Interest Period made by each of the Lenders pursuant to Section 2.01. 
 “Business
Day” means any day other than a Saturday, Sunday or other day on which commercial banks are authorized to close under the Laws of, or are in fact closed in, the state where the Administrative Agent’s Office is located or the state of
New York and, if such day relates to any Eurodollar Rate Loan, means any such day that is also a London Banking Day. 

“Call Options” means, with respect to any Convertible Securities, any options to purchase common stock of the Borrower
that are purchased by the Borrower substantially contemporaneously with the offer or sale by the Borrower of such Convertible Securities. 
 “Capital Lease Obligations” of any Person means the obligations of such Person to pay rent or other amounts under any lease of (or other arrangement conveying the right to use) real or
personal property, or a combination thereof, which obligations are required to be classified and accounted for as capital leases on a balance sheet of such Person under GAAP, and the amount of such obligations shall be the capitalized amount thereof
determined in accordance with GAAP. 
 “Cash Collateralize” means to pledge and deposit with or deliver to the
Administrative Agent, for the benefit of the Administrative Agent, the Fronting Bank and the Lenders, as collateral for L/C Obligations or obligations of the Fronting Bank or Lenders to fund or fund participations in respect of issued Letters of
Credit, (a) cash or deposit account balances, (b) in the case of Cash Collateral provided by the Borrower, Permitted Investments or (c) if the Fronting Bank shall agree in its sole discretion, other credit support, in each case
pursuant to documentation in form and substance satisfactory to (i) the Administrative Agent and (ii) the Fronting Bank. “Cash Collateral” shall have a meaning correlative to the foregoing and shall include the proceeds of such
cash collateral and other credit support. 

  
 4 

 “Change in Law” means the occurrence, after the date of this Agreement, of
any of the following: (a) the adoption or taking effect of any law, rule, regulation or treaty, (b) any change in any law, rule, regulation or treaty or in the administration, interpretation, implementation or application thereof by any
Governmental Authority or (c) the making or issuance of any request, rule, guideline or directive (whether or not having the force of law) by any Governmental Authority; provided that notwithstanding anything herein to the contrary,
(x) Dodd-Frank and all requests, rules, guidelines or directives thereunder or issued in connection therewith and (y) all requests, rules, guidelines or directives promulgated by the Bank for International Settlements, the Basel Committee
on Banking Supervision (or any successor or similar authority) or the United States or foreign regulatory authorities, in each case pursuant to Basel III, shall in each case be deemed to be a “Change in Law,” regardless of the date
enacted, adopted or issued. 
 “Change of Control” means an event or series of events by which: 

(a) any “person” or “group” (as such terms are used in Sections 13(d) and 14(d) of the Securities
Exchange Act of 1934, but excluding any employee benefit plan of such person or its subsidiaries, and any person or entity acting in its capacity as trustee, agent or other fiduciary or administrator of any such plan) other than the Michael H. Lee
Family becomes the “beneficial owner” (as defined in Rules 13d-3 and 13d-5 under the Securities Exchange Act of 1934, except that a person or group shall be deemed to have “beneficial ownership” of all securities that such person
or group has the right to acquire, whether such right is exercisable immediately or only after the passage of time (such right, an “option right”)), directly or indirectly, of 30% or more of the equity securities of the Borrower
entitled to vote for members of the board of directors or equivalent governing body of the Borrower on a fully-diluted basis (and taking into account all such securities that such person or group has the right to acquire pursuant to any option
right); or 
 (b) the Borrower fails to own, directly or indirectly, 100% of the Equity Interests of
(i) Tower Insurance Company of New York or (ii) any other Material Party; unless such failure is a result of a transaction permitted by Section 7.03(a) or (c). 

“Closing Date” means the first date all the conditions precedent in Section 4.01 are satisfied or waived in
accordance with Section 10.01. 
 “Code” means the Internal Revenue Code of 1986. 

“Commitment” means, as to each Lender, its obligation to (a) make Loans to the Borrower pursuant to
Section 2.01 and (b) to issue Several Letters of Credit and purchase participations in L/C Obligations arising under Fronted Letters of Credit, in an aggregate principal amount at any one time outstanding not to exceed the amount
set forth opposite such Lender’s name on Schedule 2.01 or in the Assignment and Assumption pursuant to which such Lender becomes a party hereto, as applicable, as such amount may be adjusted from time to time in accordance with this
Agreement. 
 “Compliance Certificate” means a certificate substantially in the form of Exhibit C.

  
 5 

 “Connection Income Taxes” means Other Connection Taxes that are imposed on
or measured by net income (however denominated) or that are franchise Taxes or branch profits Taxes. 

“Consolidated Debt” means, as of any date of determination, the consolidated Indebtedness of the Borrower and its
Subsidiaries; provided, however, that (i) Indebtedness in connection with letters of credit (including Letters of Credit issued under this Agreement) shall only be included to the extent such letters of credit have been drawn and not
reimbursed, (ii) only Guarantees of Indebtedness of any Person (other than the Borrower and its Subsidiaries) shall be included and (iii) with respect to Indebtedness of the Borrower or any of its Subsidiaries arising under any Swap
Agreements (x) if such Swap Agreements were entered into in the ordinary course of business and not for speculative purposes (it being acknowledged and agreed that, for the avoidance of doubt, Swap Agreements entered into by the Borrower or its
Subsidiaries for the purpose of mitigating risk with respect to all or any portion of the cash, invested assets and Indebtedness of the Borrower or its Subsidiaries shall be deemed to be in the ordinary course of business and not for speculative
purposes), the Swap Termination Value of all such Swap Agreements in excess of $15 million shall be included and (y) if such Swap Agreements were entered into for speculative purposes, 100% of the Swap Termination Value of such Swap Agreements
entered into for speculative purposes shall be included. 
 “Consolidated Net Income” means, for any
fiscal quarter, for the Borrower and its Subsidiaries, on a consolidated basis, the net income of the Borrower and its Subsidiaries for such fiscal quarter. 
 “Consolidated Net Worth” means, as of any date of determination, consolidated shareholders’ equity of the Borrower and its Subsidiaries as of that date determined in accordance with
GAAP. 
 “Contractual Obligation” means, as to any Person, any provision of any security issued by such Person
or of any agreement, instrument or other undertaking to which such Person is a party or by which it or any of its property is bound. 
 “Control” means the possession, directly or indirectly, of the power to direct or cause the direction of the management or policies of a Person, whether through the ability to exercise
voting power, by contract or otherwise. “Controlling” and “Controlled” have meanings correlative thereto. 
 “Convertible Securities” means any Indebtedness of the Borrower that at the option of the holders thereof is convertible into cash, shares of the Borrower’s common stock or a
combination thereof. 
 “Credit Extension” means each of the following: (a) a Borrowing and (b) an
L/C Credit Extension. 
 “Debt to Capitalization Ratio” means the ratio of (a) Consolidated Debt to
(b) the sum of Consolidated Net Worth plus Consolidated Debt. 

  
 6 

 “Debtor Relief Laws” means the Bankruptcy Code of the United States, and
all other liquidation, conservatorship, bankruptcy, assignment for the benefit of creditors, moratorium, rearrangement, receivership, insolvency, reorganization, or similar debtor relief Laws of the United States or other applicable jurisdictions
from time to time in effect and affecting the rights of creditors generally, including the provisions of Title II of Dodd-Frank. 
 “Default” means any event or condition that constitutes an Event of Default or that, with the giving of any notice, the passage of time, or both, would be an Event of Default. 

“Default Rate” means (a) when used with respect to Obligations other than Letter of Credit Fees, an interest rate
equal to (i) the Base Rate plus (ii) the Applicable Rate, if any, applicable to Base Rate Loans plus (iii) 2% per annum; provided, however, that with respect to a Eurodollar Rate Loan, the Default Rate
shall be an interest rate equal to the interest rate (including any Applicable Rate) otherwise applicable to such Loan plus 2% per annum, and (b) when used with respect to Letter of Credit Fees, a rate equal to the Applicable Rate plus
2% per annum. 
 “Defaulting Lender” means, subject to Section 2.15(b), any Lender that
(a) has failed to (i) fund all or any portion of its Loans within two Business Days of the date such Loans were required to be funded hereunder unless such Lender notifies the Administrative Agent and the Borrower in writing that such
failure is the result of such Lender’s determination that one or more conditions precedent to funding (each of which conditions precedent, together with any applicable default, shall be specifically identified in such writing) has not been
satisfied, (ii) issue its Applicable Percentage or fund its obligations in connection with any Several Letter of Credit within two Business Days of the date such obligations were required to be issued or funded hereunder, or (iii) pay to
the Administrative Agent, the Fronting Bank, the L/C Administrator or any other Lender any other amount required to be paid by it hereunder (including in respect of its participation in Letters of Credit) within two Business Days of the date when
due; (b) has notified the Borrower, the Administrative Agent, the L/C Administrator or the Fronting Bank in writing that it does not intend to comply with its funding obligations hereunder, or has made a public statement to that effect (unless
such writing or public statement relates to such Lender’s obligation to fund a Loan hereunder and states that such position is based on such Lender’s determination that a condition precedent to funding (which condition precedent, together
with any applicable default, shall be specifically identified in such writing or public statement) cannot be satisfied); (c) has failed, within three Business Days after written request by the Administrative Agent or the Borrower, to confirm in
writing to the Administrative Agent and the Borrower that it will comply with its prospective funding obligations hereunder (provided that such Lender shall cease to be a Defaulting Lender pursuant to this clause (c) upon receipt of such
written confirmation by the Administrative Agent and the Borrower); or (d) has, or has a direct or indirect parent company that has, (i) become the subject of a proceeding under any Debtor Relief Law, or (ii) had appointed for it a
receiver, custodian, conservator, trustee, administrator, assignee for the benefit of creditors or similar Person charged with reorganization or liquidation of its business or assets, including the Federal Deposit Insurance Corporation or any other
state or federal regulatory authority acting in such a capacity; provided that a Lender shall not be a Defaulting Lender solely by virtue of the ownership or acquisition by a Governmental Authority of any Equity Interest in that Lender or any direct
or indirect parent company thereof so long as such ownership interest does not result in or provide such Lender 

  
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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 Lender (or such Governmental
Authority) to reject, repudiate, disavow or disaffirm any contracts or agreements made with such Lender to the Borrower, the Fronting Bank, the L/C Administrator and each other Lender. Any determination by the Administrative Agent that a Lender is a
Defaulting Lender under any one or more of clauses (a) through (d) above, and of the effective date of such status, shall be conclusive and binding absent manifest error, and such Lender shall be deemed to be a Defaulting
Lender (subject to Section 2.15(b)) as of the date established therefor by the Administrative Agent in a written notice of such determination, which shall be delivered by the Administrative Agent to the Borrower, the L/C Administrator,
the Fronting Bank and each other Lender promptly following such determination. 
 “Disposition” or
“Dispose” means the sale, transfer, license, lease or other disposition (including any sale and leaseback transaction) of any property by any Person, including any sale, assignment, transfer or other disposal, with or without
recourse, of any notes or accounts receivable or any rights and claims associated therewith. 
 “Dodd-Frank”
means the Dodd-Frank Wall Street Reform and Consumer Protection Act. 
 “Dollar” and “$” mean
lawful money of the United States. 
 “Eligible Assignee” means any Person that meets the requirements to be an
assignee under Section 10.06(b)(iii) and (v) (subject to such consents, if any, as may be required under Section 10.06(b)(iii) having been obtained). 

“Environmental Laws” means any and all applicable Federal, state, local, and foreign statutes, laws, regulations,
ordinances, rules, judgments, orders, decrees, permits, licenses, agreements or governmental restrictions relating to pollution and the protection of the environment or the Release of any Hazardous Materials into the environment or waste or public
systems. 
 “Environmental Liability” means any liability, contingent or otherwise (including any liability for
damages, costs of environmental remediation, fines, penalties or indemnities), of the Borrower or any of its Subsidiaries directly or indirectly resulting from or based upon (a) violation of any Environmental Law, (b) the generation, use,
handling, transportation, storage, treatment or disposal of any Hazardous Materials, (c) exposure to any Hazardous Materials, (d) the Release of any Hazardous Materials into the environment or (e) any contract, agreement or other
consensual arrangement to which the Borrower or any of its Subsidiaries is party pursuant to which liability is assumed or imposed with respect to any of the foregoing. 
 “Equity Interests” means, with respect to any Person, all of the shares of capital stock of (or other ownership or profit interests in) such Person, all of the warrants, options or other
rights for the purchase or acquisition from such Person of shares of capital stock of (or other ownership or profit interests in) such Person, or warrants, rights or options for the purchase or acquisition from such Person of such shares (or such
other interests), and all of the other ownership or profit interests in such Person (including partnership, member or trust interests therein), whether voting or nonvoting; provided that Convertible Securities shall not constitute Equity
Interests. 

  
 8 

 “ERISA” means the Employee Retirement Income Security Act of 1974.

 “ERISA Affiliate” means any trade or business (whether or not incorporated) under common control with the
Borrower within the meaning of Section 414(b) or (c) of the Code (and Sections 414(m) and (o) of the Code for purposes of provisions relating to Section 412 of the Code). 

“ERISA Event” means (a) a Reportable Event with respect to a Pension Plan; (b) the withdrawal of the Borrower
or any ERISA Affiliate from a Pension Plan subject to Section 4063 of ERISA during a plan year in which such entity was a “substantial employer” as defined in Section 4001(a)(2) of ERISA or a cessation of operations that is
treated as such a withdrawal under Section 4062(e) of ERISA; (c) a complete or partial withdrawal by the Borrower or any ERISA Affiliate from a Multiemployer Plan or notification that a Multiemployer Plan is in reorganization; (d) the
filing of a notice of intent to terminate, the treatment of a Pension Plan amendment as a termination under Section 4041 or 4041A of ERISA; (e) the institution by the PBGC of proceedings to terminate a Pension Plan; (f) any event or
condition which constitutes grounds under Section 4042 of ERISA for the termination of, or the appointment of a trustee to administer, any Pension Plan; (g) the determination that any Pension Plan is considered an at-risk plan or a plan in
endangered or critical status within the meaning of Sections 430, 431 and 432 of the Code or Sections 303, 304 and 305 of ERISA; or (h) the imposition of any liability under Title IV of ERISA, other than for PBGC premiums due but not delinquent
under Section 4007 of ERISA, upon the Borrower or any ERISA Affiliate. 
 “Eurodollar Rate” means:

 (a) for any Interest Period with respect to a Eurodollar Rate Loan, the rate per annum equal to (i) the British Bankers
Association LIBOR Rate (“BBA LIBOR”), as published by Reuters (or such other commercially available source providing quotations of BBA LIBOR as may be designated by the Administrative Agent from time to time) at approximately 11:00
a.m., London time, two London Banking Days prior to the commencement of such Interest Period, for Dollar deposits (for delivery on the first day of such Interest Period) with a term equivalent to such Interest Period or, (ii) if such rate is
not available at such time for any reason, the rate per annum determined by the Administrative Agent to be the rate at which deposits in Dollars for delivery on the first day of such Interest Period in same day funds in the approximate amount of the
Eurodollar Rate Loan being made, continued or converted and with a term equivalent to such Interest Period would be offered by Bank of America’s London Branch to major banks in the London interbank eurodollar market at their request at
approximately 11:00 a.m. (London time) two London Banking Days prior to the commencement of such Interest Period; and 
 (b) for
any interest calculation with respect to a Base Rate Loan on any date, the rate per annum equal to (i) BBA LIBOR, at approximately 11:00 a.m., London time determined two London Banking Days prior to such date for Dollar deposits being delivered
in the London interbank market for a term of one month commencing that day or (ii) if such published rate is not available at such time for any reason, the rate per annum determined by the Administrative Agent to be the rate at which deposits
in Dollars for delivery on the date of determination in same day funds in the approximate amount of the Base Rate Loan being made or maintained and with a term equal to one month would be offered by Bank of America’s London Branch to major
banks in the London interbank Eurodollar market at their request at the date and time of determination. 

  
 9 

 “Eurodollar Rate Loan” means a Loan that bears interest at a rate based on
clause (a) of the definition of “Eurodollar Rate.” 
 “Event of Default” has the meaning
specified in Section 8.01. 
 “Excluded Taxes” means any of the following Taxes imposed on or with
respect to any Recipient or required to be withheld or deducted from a payment to a Recipient, (a) Taxes (including any U.S. federal backup withholding with respect thereto) imposed on or measured by net income (however denominated), franchise
Taxes, and branch profits Taxes, in each case, (i) imposed as a result of such Recipient being organized under the laws of, or having its principal office or, in the case of any Lender, its Lending Office located in, the jurisdiction imposing
such Tax (or any political subdivision thereof) or (ii) that are Other Connection Taxes, (b) in the case of a Lender, U.S. federal withholding Taxes imposed on amounts payable to or for the account of such Lender with respect to an
applicable interest in a Loan or Commitment pursuant to a law in effect on the date on which (i) such Lender acquires such interest in the Loan or Commitment (other than pursuant to an assignment request by the Borrower under
Section 10.13) or (ii) such Lender changes its Lending Office, except in each case to the extent that, pursuant to Section 3.01(a)(ii) or (c), amounts with respect to such Taxes were payable either to such
Lender’s assignor immediately before such Lender became a party hereto or to such Lender immediately before it changed its Lending Office, (c) Taxes attributable to such Recipient’s failure to comply with Section 3.01(e)
and (d) any U.S. federal withholding Taxes imposed pursuant to FATCA. 
 “Existing Credit Agreement” has
the meaning given such term in the Recitals. 
 “FASB ASC” means the Accounting Standards Codification of the
Financial Accounting Standards Board. 
 “FATCA” means Sections 1471 through 1474 of the Code, as of the date
of this Agreement (or any amended or successor version that is substantively comparable) and any current or future regulations or official interpretations thereof. 
 “Federal Funds Rate” means, for any day, the rate per annum equal to the weighted average of the rates on overnight Federal funds transactions with members of the Federal Reserve System
arranged by Federal funds brokers on such day, as published by the Federal Reserve Bank of New York on the Business Day next succeeding such day; provided that (a) if such day is not a Business Day, the Federal Funds Rate for such day
shall be such rate on such transactions on the next preceding Business Day as so published on the next succeeding Business Day, and (b) if no such rate is so published on such next succeeding Business Day, the Federal Funds Rate for such day
shall be the average rate (rounded upward, if necessary, to a whole multiple of 1/100 of 1%) charged to Bank of America on such day on such transactions as determined by the Administrative Agent. 

“Fee Letters” means each of (a) the Bank of America Fee Letter and (b) the JPMorgan Fee Letter. 

  
 10 

 “Financial Strength Rating” means the financial strength rating given to an
Insurance Subsidiary by A.M. Best Company. 
 “Foreign Lender” means (a) if the Borrower is a U.S. Person,
a Lender that is not a U.S. Person, and (b) if the Borrower is not a U.S. Person, a Lender that is resident or organized under the laws of a jurisdiction other than that in which the Borrower is resident for tax purposes. For purposes of this
definition, the United States, each State thereof and the District of Columbia shall be deemed to constitute a single jurisdiction 
 “FRB” means the Board of Governors of the Federal Reserve System of the United States. 
 “Fronted Letter of Credit” means a Letter of Credit issued by the Fronting Bank in which the Lenders purchase a risk participation pursuant to Section 2.03. 

“Fronting Bank” means Bank of America and any other Person that may become the issuer of Fronted Letters of
Credit hereunder pursuant to Section10.06(g).  
 “Fronting Exposure” means, at any time there is
a Defaulting Lender, with respect to the Fronting Bank, such Defaulting Lender’s Applicable Percentage of the outstanding L/C Obligations with respect to Fronted Letters of Credit other than L/C Obligations as to which such Defaulting
Lender’s participation obligation has been reallocated to other Lenders or Cash Collateralized in accordance with the terms hereof. 
 “Fund” means any Person (other than a natural person) that is (or will be) engaged in making, purchasing, holding or otherwise investing in commercial loans and similar extensions of
credit in the ordinary course of its activities. 
 “GAAP” means generally accepted accounting principles in
the United States set forth in the opinions and pronouncements of the Accounting Principles Board and the American Institute of Certified Public Accountants and statements and pronouncements of the Financial Accounting Standards Board or such other
principles as may be approved by a significant segment of the accounting profession in the United States, that are applicable to the circumstances as of the date of determination, consistently applied. 

“Governmental Authority” means the government of the United States or any other nation, or of 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 (including any supra-national bodies such as the European Union or the European Central Bank). 

“Guarantee” means, as to any Person, (a) any obligation, contingent or otherwise, of such Person guaranteeing or
having the economic effect of guaranteeing any Indebtedness or other obligation payable or performable by another Person (the “primary obligor”) in any manner, whether directly or indirectly, and including any demand guarantee and any
obligation of such Person, direct or indirect, (i) to purchase or pay (or advance or supply funds for the purchase or payment of) such Indebtedness or other obligation, (ii) to purchase or lease property, securities or

  
 11 

 
services for the purpose of assuring the obligee in respect of such Indebtedness or other obligation of the payment or performance of such Indebtedness or other obligation, (iii) to maintain
working capital, equity capital or any other financial statement condition or liquidity or level of income or cash flow of the primary obligor so as to enable the primary obligor to pay such Indebtedness or other obligation, or (iv) entered
into for the purpose of assuring in any other manner the obligee in respect of such Indebtedness or other obligation of the payment or performance thereof or to protect such obligee against loss in respect thereof (in whole or in part), or
(b) any Lien on any assets of such Person securing any Indebtedness or other obligation of any other Person, whether or not such Indebtedness or other obligation is assumed by such Person (or any right, contingent or otherwise, of any holder of
such Indebtedness to obtain any such Lien). The amount of any Guarantee shall be deemed to be an amount equal to the stated or determinable amount of the related primary obligation, or portion thereof, in respect of which such Guarantee is made or,
if not stated or determinable, the maximum reasonably anticipated liability in respect thereof as determined by the guaranteeing Person in good faith. The term “Guarantee” as a verb has a corresponding meaning. 

“Hazardous Materials” means all explosive or radioactive substances or wastes and all hazardous or toxic substances,
wastes or other pollutants, including petroleum or petroleum distillates, asbestos or asbestos-containing materials, polychlorinated biphenyls or radon gas, and all other substances or wastes of any nature regulated pursuant to any Environmental
Law. 
 “Indebtedness” means, as to any Person at a particular time, without duplication, all of the following,
whether or not included as indebtedness or liabilities in accordance with GAAP: 
 (a) all obligations of such
Person for borrowed money and all obligations of such Person evidenced by bonds, debentures, notes, loan agreements or other similar instruments; 
 (b) all direct or contingent obligations of such Person arising under letters of credit (including standby and commercial), bankers’ acceptances, bank guaranties, surety bonds and similar
instruments; 
 (c) net obligations of such Person under any Swap Contract; 

(d) all obligations of such Person to pay the deferred purchase price of property or services (other than trade accounts
payable in the ordinary course of business and, in each case, not past due for more than 60 days after the date on which such trade account payable was created); 

(e) indebtedness (excluding prepaid interest thereon) secured by a Lien on property owned or being purchased by such
Person (including indebtedness arising under conditional sales or other title retention agreements), whether or not such indebtedness shall have been assumed by such Person or is limited in recourse; 

(f) capital leases; 
 (g) all obligations of such Person to purchase, redeem, retire, defease or otherwise make any payment in respect of any Equity Interest in such Person or any other Person, valued, in the case of a
redeemable preferred interest, at the greater of its voluntary or involuntary liquidation preference plus accrued and unpaid dividends; and 

  
 12 

 (h) all Guarantees of such Person in respect of any of the foregoing.

 For all purposes hereof, the Indebtedness of any Person shall include the Indebtedness of any partnership or joint venture
(other than a joint venture that is itself a corporation or limited liability company) in which such Person is a general partner or a joint venturer, unless such Indebtedness is expressly made non-recourse to such Person. For the avoidance of doubt,
Indebtedness of any variable interest entity that the Borrower is required to consolidate pursuant to FASB ASC 810 shall be considered Indebtedness only if such Indebtedness is recourse to the Borrower or its Subsidiaries. The amount of any net
obligation under any Swap Contract on any date shall be deemed to be the Swap Termination Value thereof as of such date. The amount of any capital lease as of any date shall be deemed to be the amount of Capital Lease Obligations in respect thereof
as of such date. 
 “Indemnified Taxes” means (a) Taxes, other than Excluded Taxes, imposed on or with
respect to any payment made by or on account of any obligation of the Borrower under any Loan Document and (b) to the extent not otherwise described in (a), Other Taxes. 
 “Indemnitees” has the meaning specified in Section 10.04(b). 
 “Information” has the meaning specified in Section 10.07. 
 “Insurance Code” means, with respect to any Insurance Subsidiary, the “Insurance Code” or Law of such Insurance Subsidiary’s domicile and any successor statute of similar
import, together with the regulations thereunder or otherwise modified and in effect from time to time. References to sections of the Insurance Code shall be construed to also refer to successor sections. 

“Insurance Subsidiary” means any Subsidiary of the Borrower which is licensed by any Governmental Authority to engage in
the insurance business. 
 “Interest Payment Date” means, (a) as to any Loan other than a Base Rate Loan,
the last day of each Interest Period applicable to such Loan and the Maturity Date; provided, however, that if any Interest Period for a Eurodollar Rate Loan exceeds three months, the respective dates that fall every three months after
the beginning of such Interest Period shall also be Interest Payment Dates; and (b) as to any Base Rate Loan, the last Business Day of each March, June, September and December and the Maturity Date. 

“Interest Period” means as to each Eurodollar Rate Loan, the period commencing on the date such Eurodollar Rate Loan is
disbursed or converted to or continued as a Eurodollar Rate Loan and ending on the date one, two or three months thereafter, as selected by the Borrower in its Loan Notice, or such other period that is twelve months or less requested by the Borrower
and consented to by all the Lenders; provided that: 
 (i) any Interest Period that would otherwise end on a day that is
not a Business Day shall be extended to the next succeeding Business Day unless such Business Day falls in another calendar month, in which case such Interest Period shall end on the next preceding Business Day; 

  
 13 

 (ii) any Interest Period that begins on the last Business Day of a calendar month (or on a
day for which there is no numerically corresponding day in the calendar month at the end of such Interest Period) shall end on the last Business Day of the calendar month at the end of such Interest Period; and 

(iii) no Interest Period shall extend beyond the Maturity Date. 
 “IRS” means the United States Internal Revenue Service. 

“ISP” means, with respect to any Letter of Credit, the “International Standby Practices 1998” published by the
Institute of International Banking Law & Practice, Inc. (or such later version thereof as may be in effect at the time of issuance). 
 “Issuer Documents” means with respect to any Letter of Credit, the Letter of Credit Application, and any other document, agreement and instrument entered into by the Applicable Issuing
Party and the Borrower (or any Subsidiary) in respect of such Letter of Credit. 
 “JPMorgan Fee Letter” means
the letter agreement, dated January 10, 2012 among the Borrower, J.P. Morgan Securities LLC and JPMorgan Chase Bank, N.A. 

“L/C Administrator” means Bank of America’s Letter of Credit Operations located at One Fleet Way, Scranton, PA
18507, as letter of credit administrator for the Lenders, together with any replacement L/C Administrator arising under Section 10.06(g). 
 “L/C Advance” means, with respect to each Lender, such Lender’s funding of its participation in any L/C Borrowing in accordance with its Applicable Percentage. 

“L/C Borrowing” means an extension of credit resulting from a drawing under any Letter of Credit which has not been
reimbursed on the date when made or which has been refinanced as a Borrowing. 
 “L/C Credit Extension” means,
with respect to any Letter of Credit, the issuance thereof or extension of the expiry date thereof, or the increase of the amount thereof. 
 “L/C Issuer” means (a) with respect to a Fronted Letter of Credit, the Fronting Bank and (b) with respect to a Several Letter of Credit, each Lender. 

“L/C Obligations” means, at any time, the sum, without duplication, of (a) the aggregate amount available to be
drawn under all outstanding Letters of Credit, plus (b) the aggregate unpaid amount of all Unreimbursed Amounts, including L/C Borrowings, after giving effect to any L/C Credit Extension occurring on such date and any other changes in
the aggregate amount of the L/C Obligations as of such date, including as a result of any reimbursements by the Borrower of Unreimbursed Amounts. For purposes of computing the amount available to be drawn under any Letter of Credit, the amount of
such Letter of Credit shall be determined in accordance with Section 1.06. For all purposes of this Agreement, if on any date of 

  
 14 

 
determination a Letter of Credit has expired by its terms but any amount may still be drawn thereunder by reason of the operation of Rule 3.14 of the ISP or otherwise, such Letter of Credit shall
be deemed to be “outstanding” in the amount so remaining available to be drawn. For purposes of determining the L/C Obligations held by any Lender, a Lender shall be deemed to hold an amount equal to the sum, without duplication, of
(i) the aggregate amount of each Lender’s direct obligation, in all outstanding Several Letters of Credit, (ii) its risk participation in all outstanding Fronted Letters of Credit, and (iii) its L/C Borrowings. The L/C Obligation
of the Borrower shall be the aggregate amount available to be drawn under all outstanding Letters of Credit issued for the account of the Borrower plus the aggregate of all Unreimbursed Amounts owed by the Borrower. 

“Laws” means, collectively, all international, foreign, Federal, state and local statutes, treaties, rules, guidelines,
regulations, ordinances, codes and administrative or judicial precedents or authorities, including the interpretation or administration thereof by any Governmental Authority charged with the enforcement, interpretation or administration thereof, and
all applicable administrative orders, directed duties, requests, licenses, authorizations and permits of, and agreements with, any Governmental Authority, in each case whether or not having the force of law. 

“Lender” has the meaning set forth in the introductory paragraph hereto together with, in each case, any Affiliate of
any such Lender through which such Lender elects, by written notice to the Administrative Agent and the Borrower, to make any Loans available to the Borrower, provided that, in each case, for all purposes of voting or consenting with respect to
(i) any amendment, supplementation or modification of any Loan Document, (ii) any waiver of any requirements of any Loan Document or any Default and its consequences, or (iii) any other matter as to which a Lender may vote or consent
pursuant to this Agreement, the Lender making such election shall be deemed the “Person,” rather than such Affiliate, entitled to vote or consent. 
 “Lending Office” means, as to any Lender, the office or offices of such Lender described as such in such Lender’s Administrative Questionnaire, or such other office or offices as a
Lender may from time to time notify the Borrower and the Administrative Agent. 
 “Letter of Credit” means any
standby letter of credit issued hereunder. 
 “Letter of Credit Application” means an application and agreement
for the issuance or amendment of a Letter of Credit in the form from time to time in use by the Applicable Issuing Party. 

“Letter of Credit Expiration Date” means February 15, 2017. 

“Letter of Credit Fee” has the meaning specified in Section 2.03(h). 

“Letter of Credit Sublimit” means an amount equal to $25,000,000. The Letter of Credit Sublimit is part of, and not in
addition to, the Aggregate Commitments. 
 “Lien” means any mortgage, pledge, hypothecation, assignment,
deposit arrangement, encumbrance, lien (statutory or other), charge, or preference, priority or other security interest or preferential arrangement in the nature of a security interest of any kind or nature whatsoever

  
 15 

 
(including any conditional sale or other title retention agreement, any easement, right of way or other encumbrance on title to real property, and any financing lease having substantially the
same economic effect as any of the foregoing). 
 “Loan” has the meaning specified in Section 2.01.

 “Loan Documents” means this Agreement, each Note, each Issuer Document, any agreement creating or perfecting
rights in Cash Collateral pursuant to the provisions of Section 2.14 of this Agreement and the Fee Letters. 

“Loan Notice” means a notice of (a) a Borrowing, (b) a conversion of Loans from one Type to the other, or
(c) a continuation of Eurodollar Rate Loans, pursuant to Section 2.02(a), which, if in writing, shall be substantially in the form of Exhibit A. 
 “London Banking Day” means any day on which dealings in Dollar deposits are conducted by and between banks in the London interbank eurodollar market. 

“Material Adverse Effect” means (a) a material adverse change in, or a material adverse effect upon, the
operations, business, properties, liabilities (actual or contingent), condition (financial or otherwise) or prospects of the Borrower and its Subsidiaries taken as a whole; (b) a material impairment of the rights and remedies of the
Administrative Agent, the Fronting Bank or any Lender under any of the Loan Documents or of the ability of the Borrower to perform its obligations under any Loan Document to which it is a party; or (c) a material adverse effect upon the
legality, validity, binding effect or enforceability against the Borrower of any Loan Document to which it is a party. 

“Material Insurance Subsidiary” means each of (a) Tower Insurance Company of New York, and (b) each other
Insurance Subsidiary of the Borrower whose Statutory Surplus as of the end of any fiscal quarter of the Borrower for which financial statements are available, is greater than 10% of the consolidated Statutory Surplus of all Insurance Subsidiaries of
the Borrower taken together as of the end of such fiscal quarter. For the avoidance of doubt, if any Insurance Subsidiary which has become a Material Insurance Subsidiary pursuant to clause (b) subsequently ceases to meet the 10%
threshold as of the end of any fiscal quarter, such Insurance Subsidiary shall cease to be a Material Insurance Subsidiary as of the end of such fiscal quarter but may become a Material Insurance Subsidiary if it meets the threshold set forth in
clause (b) at a future date. 
 “Material Party” means each of (a) Tower Insurance Company of
New York, and (b) each other Insurance Subsidiary of the Borrower whose Statutory Surplus as of the end of any fiscal quarter of the Borrower for which financial statements are available, is greater than 20% of the consolidated Statutory
Surplus of all Insurance Subsidiaries of the Borrower taken together as of the end of such fiscal quarter. For the avoidance of doubt, if any Insurance Subsidiary which has become a Material Party pursuant to clause (b) subsequently
ceases to meet the 20% threshold as of the end of any fiscal quarter, such Insurance Subsidiary shall cease to be a Material Party as of the end of such fiscal quarter but may become a Material Party if it meets the threshold set forth in clause
(b) at a future date. 

  
 16 

 “Maturity Date” means February 15, 2016; provided,
however, that if such date is not a Business Day, the Maturity Date shall be the next preceding Business Day. 

“Michael H. Lee Family” means, collectively, Michael H. Lee; his spouse; any natural person who is a lineal descendant
of Michael H. Lee; the spouse, children, or grandchildren of any such natural person; any trust of which any of the foregoing is or are the sole beneficiary or beneficiaries; or the estate, executor, administrator, or legal guardian of any of the
foregoing. 
 “Minimum Collateral Amount” means, at any time, (i) with respect to Cash Collateral
described in clause (a) of the definition of Cash Collateral, 100%, (ii) with respect to Cash Collateral described in clause (b) of the definition of Cash Collateral, (A) 103% for Permitted Investments described in clauses
(a) through (d) of the definition of Permitted Investments and (B) 110% for Permitted Investments described in clauses (e) and (f) of the definition of Permitted Investments, and (iii) with respect to Cash Collateral
described in clause (c) of the definition of Cash Collateral, a percentage determined by the Administrative Agent and the Fronting Bank in their sole discretion. 
 “Moody’s” means Moody’s Investors Service, Inc. and any successor thereto. 
 “Multiemployer Plan” means any employee benefit plan of the type described in Section 4001(a)(3) of ERISA, to which the Borrower or any ERISA Affiliate makes or is obligated to make
contributions, or during the preceding five plan years, has made or been obligated to make contributions. 
 “Multiple
Employer Plan” means a Plan which has two or more contributing sponsors (including the Borrower or any ERISA Affiliate) at least two of whom are not under common control, as such a plan is described in Section 4064 of ERISA.

 “Non-Consenting Lender” means any Lender that does not approve any consent, waiver or amendment that
(i) requires the approval of all Lenders or all affected Lenders in accordance with the terms of Section 10.01 and (ii) has been approved by the Required Lenders. 

“Non-Defaulting Lender” means, at any time, each Lender that is not a Defaulting Lender at such time. 

“Note” means a promissory note made by the Borrower in favor of a Lender evidencing Loans made by such Lender,
substantially in the form of Exhibit B. 
 “Obligations” means all advances to, and debts, liabilities,
obligations, covenants and duties of, the Borrower arising under any Loan Document or otherwise with respect to any Loan or Letter of Credit, whether direct or indirect (including those acquired by assumption), absolute or contingent, due or to
become due, now existing or hereafter arising and including interest and fees that accrue after the commencement by or against the Borrower or any Affiliate thereof of any proceeding under any Debtor Relief Laws naming such Person as the debtor in
such proceeding, regardless of whether such interest and fees are allowed claims in such proceeding. 
 “Organization
Documents” means, (a) with respect to any corporation, the certificate or articles of incorporation and the bylaws (or equivalent or comparable constitutive documents 

  
 17 

 
with respect to any non-U.S. jurisdiction); (b) with respect to any limited liability company, the certificate or articles of formation or organization and operating agreement; and
(c) with respect to any partnership, joint venture, trust or other form of business entity, the partnership, joint venture or other applicable agreement of formation or organization and any agreement, instrument, filing or notice with respect
thereto filed in connection with its formation or organization with the applicable Governmental Authority in the jurisdiction of its formation or organization and, if applicable, any certificate or articles of formation or organization of such
entity. 
 “Other Connection Taxes” means, with respect to any Recipient, Taxes imposed as a result of a
present or former connection between such Recipient and the jurisdiction imposing such Tax (other than connections arising solely from such Recipient having executed, delivered, become a party to, performed its obligations under, received payments
under, received or perfected a security interest under, engaged in any other transaction pursuant to or enforced any Loan Document, or sold or assigned an interest in any Loan or Loan Document). 

“Other Taxes” means all present or future stamp, court or documentary, intangible, recording, filing or similar Taxes
that arise from any payment made under, from the execution, delivery, performance, enforcement or registration of, from the receipt or perfection of a security interest under, or otherwise with respect to, any Loan Document, except any such Taxes
that are imposed with respect to an assignment (other than an assignment made pursuant to Section 3.06). 

“Outstanding Amount” means (i) with respect to Loans on any date, the aggregate outstanding principal amount
thereof after giving effect to any borrowings and prepayments or repayments of Loans, occurring on such date; and (ii) with respect to any L/C Obligations on any date, the amount of such L/C Obligations on such date after giving effect to any
L/C Credit Extension occurring on such date and any other changes in the aggregate amount of the L/C Obligations as of such date, including as a result of any reimbursements by the Borrower of Unreimbursed Amounts. 

“Participant” has the meaning specified in Section 10.06(d). 

“Participant Register” has the meaning specified in Section 10.06(d). 

“PBGC” means the Pension Benefit Guaranty Corporation. 

“Pension Act” means the Pension Protection Act of 2006. 

“Pension Funding Rules” means the rules of the Code and ERISA regarding minimum required contributions (including any
installment payment thereof) to Pension Plans and set forth in, with respect to plan years ending prior to the effective date of the Pension Act, Section 412 of the Code and Section 302 of ERISA, each as in effect prior to the Pension Act
and, thereafter, Section 412, 430, 431, 432 and 436 of the Code and Sections 302, 303, 304 and 305 of ERISA. 

“Pension Plan” means any employee pension benefit plan (including a Multiple Employer Plan or a Multiemployer Plan) that
is maintained or is contributed to by the Borrower and any ERISA Affiliate and is either covered by Title IV of ERISA or is subject to the minimum funding standards under Section 412 of the Code. 

  
 18 

 “Permitted Investment” means, at any time: 

(a) any evidence of Indebtedness issued or guaranteed by the United States Government or any agency thereof; 

(b) commercial paper, maturing not more than one year from the date of issue, which is issued by 

(i) a corporation (except an Affiliate of the Borrower) rated at least A-1 by S&P, P-1 by Moody’s or D-2 by
FitchIBCA, or 
 (ii) any Lender (or its holding company); 

(c) investments in money market funds that invest solely in Permitted Investments described in clauses (a) and (b);

 (d) investments in short-term asset management accounts offered by any Lender for the purpose of investing in loans to any
corporation (other than an Affiliate of the Borrower) organized under the Laws of any state of the United States or of the District of Columbia and rated at least A-1 by S&P or P-1 by Moody’s; 

(e) corporate securities rated AA by S&P or Aa2 by Moody’s with a maximum ten-year maturity; and 

(f) municipal securities rated AAA by S&P or Aaa by Moody’s with a maximum ten-year maturity. 

“Person” means any natural person, corporation, limited liability company, trust, joint venture, association, company,
partnership, Governmental Authority or other entity. 
 “Plan” means any employee benefit plan within the
meaning of Section 3(3) of ERISA (including a Pension Plan), maintained for employees of the Borrower or any ERISA Affiliate or any such Plan to which the Borrower or any ERISA Affiliate is required to contribute on behalf of any of its
employees. 
 “Platform” has the meaning specified in Section 6.02. 

“Public Lender” has the meaning specified in Section 6.02. 

“Quarterly Statements” means the quarterly financial statements of an Insurance Subsidiary as required to be filed with
the Applicable Insurance Regulatory Authority of such Insurance Subsidiary’s domicile, together with all exhibits or schedules filed therewith, prepared in conformity with SAP. 

“Recipient” means the Administrative Agent, any Lender, the Fronting Bank or any other recipient of any payment to be
made by or on account of any obligation of the Borrower hereunder. 

  
 19 

 “Reciprocal Insurer” means Adirondack Insurance Exchange, New Jersey
Skylands Insurance Association and each other reciprocal insurance company which would be a Subsidiary solely as a result of being managed by the Borrower or any of its Subsidiaries. 

“Register” has the meaning specified in Section 10.06(c). 

“Related Parties” means, with respect to any Person, such Person’s Affiliates and the partners, directors,
officers, employees, agents, trustees, administrators, managers, advisors and representatives of such Person and of such Person’s Affiliates. 
 “Release” means any actual or threatened release, spilling, leaking, pumping, pouring, emitting, emptying, discharging, injecting, escaping, leaching, dumping, abandonment, disposing or
allowing to escape or migrate into or through the environment. 
 “Reportable Event” means any of the events
set forth in Section 4043(c) of ERISA, other than events for which the 30 day notice period has been waived. 

“Request for Credit Extension” means (a) with respect to a Borrowing, conversion or continuation of Loans, a Loan
Notice and (b) with respect to an L/C Credit Extension, a Letter of Credit Application. 
 “Required
Lenders” means, as of any date of determination, Lenders having more than 50% of the Aggregate Commitments or, if the commitment of each Lender to make Loans and to issue Several Letters of Credit and the obligations of the Fronting Bank to
issue Fronted Letters of Credit have been terminated pursuant to Section 8.02, Lenders holding in the aggregate more than 50% of the Total Outstandings (with the aggregate amount of each Lender’s risk participation and funded
participation in L/C Obligations being deemed “held” by such Lender for purposes of this definition); provided that the Commitment of, and the portion of the Total Outstandings held or deemed held by, any Defaulting Lender shall be
excluded from Total Outstandings for purposes of making a determination of Required Lenders. 
 “Responsible
Officer” means the chief executive officer, president, chief financial officer, managing vice president-finance or treasurer of the Borrower, solely for purposes of the delivery of incumbency certificates pursuant to
Section 4.01, the secretary or any assistant secretary of the Borrower and, solely for purposes of notices given pursuant to Article II, any other officer or employee of the Borrower so designated by any of the foregoing officers in a
notice to the Administrative Agent. Any document delivered hereunder that is signed by a Responsible Officer of the Borrower shall be conclusively presumed to have been authorized by all necessary corporate, partnership and/or other action on the
part of the Borrower and such Responsible Officer shall be conclusively presumed to have acted on behalf of the Borrower. 

“Restricted Payment” means any dividend or other distribution (whether in cash, securities or other property) with
respect to any capital stock or other Equity Interest of the Borrower or any Subsidiary, or any payment (whether in cash, securities or other property), including any sinking fund or similar deposit, on account of the purchase, redemption,
retirement, acquisition, cancellation or termination of any such capital stock or other Equity Interest, or on account of any return of capital to the Borrower’s stockholders, partners or members (or the equivalent Person thereof). 

  
 20 

 “Risk Based Capital Ratio” means the ratio of “Total Adjusted
Capital” to “Company Action Level Capital” calculated in accordance with SAP pursuant to the requirements of the New York State Insurance Department. 
 “S&P” means Standard & Poor’s Financial Services LLC, a subsidiary of The McGraw-Hill Companies, Inc. and any successor thereto. 

“SAP” means, with respect to any Insurance Subsidiary, the statutory accounting practices prescribed or permitted by the
Applicable Insurance Regulatory Authority in the jurisdiction in which such Person is domiciled for the preparation of annual statements and other financial reports by insurance companies of the same type as such Person in effect from time to time,
applied in a manner consistent with those used in preparing the Statutory Financial Statements referred to in Section 5.05(c). 
 “SEC” means the Securities and Exchange Commission, or any Governmental Authority succeeding to any of its principal functions. 

“Several Letter of Credit” means a Letter of Credit issued severally by or on behalf of the Lenders pursuant to which
the Lenders are severally liable to the beneficiary which shall be substantially in the form of Exhibit F or in such other form as may be agreed by the Borrower and the L/C Administrator. 

“Statutory Financial Statements” means, with respect to any Insurance Subsidiary, the Annual Statements and, if
applicable Quarterly Statements, required to be filed by such Insurance Subsidiary. 
 “Statutory
Surplus” means, with respect to any Insurance Subsidiary at any time, the statutory capital and surplus of such Insurance Subsidiary at such time, as determined in accordance with SAP (“Liabilities, Surplus and Other Funds”
statement, page 3, line 37 of the Annual Statement or the Quarterly Statutory Statement, as applicable). 

“Subsidiary” of a Person means a corporation, partnership, joint venture, limited liability company or other business
entity of which a majority of the Equity Interests having ordinary voting power for the election of directors or other governing body (other than Equity Interests having such power only by reason of the happening of a contingency) are at the time
beneficially owned, or the management of which is otherwise controlled, directly, or indirectly through one or more intermediaries, or both, by such Person. Unless otherwise specified, all references herein to a “Subsidiary” or to
“Subsidiaries” shall refer to a Subsidiary or Subsidiaries of the Borrower; provided, however, that neither the Reciprocal Insurers nor any variable interest entity that the Borrower is required to consolidate pursuant to
FASB ASC 810 shall be deemed to be a Subsidiary of the Borrower. 
 “Surplus Note Agreements” means the Loan
Agreement dated as of July 1, 2010 between CastlePoint National Insurance Company and Adirondack Insurance Exchange (“AIE”), the Loan Agreement dated as of July 1, 2010 between Hermitage Insurance Company and AIE, the Loan
Agreement dated as of July 1, 2010 between Tower Insurance Company of New York and AIE, the Loan Agreement dated as of July 1, 2010 between CastlePoint Insurance Company and AIE, the Loan Agreement dated as of July 1, 2010 between
CastlePoint Reinsurance Company Ltd. 

  
 21 

 
and AIE and the Loan Agreement dated as of July 1, 2010 between CastlePoint Reinsurance Company Ltd. and New Jersey Skylands Insurance Association, as the same may be amended, extended or
refinanced from time to time. 
 “Swap Contract” means (a) any and all rate swap transactions, basis
swaps, credit derivative transactions, forward rate transactions, commodity swaps, commodity options, forward commodity contracts, equity or equity index swaps or options, bond or bond price or bond index swaps or options or forward bond or forward
bond price or forward bond index transactions, interest rate options, forward foreign exchange transactions, cap transactions, floor transactions, collar transactions, currency swap transactions, cross-currency rate swap transactions, currency
options, spot contracts, or any other similar transactions or any combination of any of the foregoing (including any options to enter into any of the foregoing), whether or not any such transaction is governed by or subject to any master agreement,
and (b) any and all transactions of any kind, and the related confirmations, which are subject to the terms and conditions of, or governed by, any form of master agreement published by the International Swaps and Derivatives Association, Inc.,
any International Foreign Exchange Master Agreement, or any other master agreement (any such master agreement, together with any related schedules, a “Master Agreement”), including any such obligations or liabilities under any
Master Agreement. 
 “Swap Termination Value” means, in respect of any one or more Swap Contracts, after taking
into account the effect of any legally enforceable netting agreement relating to such Swap Contracts, (a) for any date on or after the date such Swap Contracts have been closed out and termination value(s) determined in accordance therewith,
such termination value(s), and (b) for any date prior to the date referenced in clause (a), the amount(s) determined as the mark-to-market value(s) for such Swap Contracts, as determined based upon one or more mid-market or other readily
available quotations provided by any recognized dealer in such Swap Contracts (which may include a Lender or any Affiliate of a Lender). 
 “Taxes” means all present or future taxes, levies, imposts, duties, deductions, withholdings (including backup withholding), assessments, fees or other charges imposed by any Governmental
Authority, including any interest, additions to tax or penalties applicable thereto. 
 “Threshold Amount”
means $15,000,000. 
 “Total Outstandings” means the aggregate Outstanding Amount of all Loans and all L/C
Obligations. 
 “Type” means with respect to a Loan, its character as a Base Rate Loan or a Eurodollar Rate
Loan. 
 “U.S. Person” means any Person that is a “United States Person” as defined in
Section 7701(a)(30) of the Code. 
 “U.S. Tax Compliance Certificate” has the meaning specified in
Section 3.01(e)(i)(B)(III). 

  
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 “UCP” means the rules of the Uniform Customs and Practice for Documentary
Credits, as most recently published by the International Chamber of Commerce at the time of issuance of a Letter of Credit or, in the case of Letters of Credit issued to back reinsurance agreements issued by an Insurance Subsidiary, such earlier
version thereof as may be required by the applicable Governmental Authority or beneficiary. 
 “United States”
and “U.S.” mean the United States of America. 
 “Unreimbursed Amount” has the meaning
specified in Section 2.03(c)(i). 
 “Warrants” means, with respect to any Convertible Securities,
any warrants to purchase common stock of the Borrower that are issued by the Borrower substantially contemporaneously with the offer or sale by the Borrower of such Convertible Securities. 

“Wholly-Owned Subsidiary” of a Person means (a) any Subsidiary all of the outstanding Equity Interests of which
shall at the time be owned or controlled, directly or indirectly, by such Person or one or more Wholly-Owned Subsidiaries of such Person, or by such Person and one or more Wholly-Owned Subsidiaries of such Person, or (b) any partnership,
limited liability company, association, joint venture or similar business organization 100% of the ownership interests (whether voting or non-voting) of which shall at the time be so owned or controlled. 

1.02 Other Interpretive Provisions. With reference to this Agreement and each other Loan Document, unless otherwise specified
herein or in such other Loan Document: 
 (a) The definitions of terms herein shall apply equally to the singular and plural
forms of the terms defined. Whenever the context may require, any pronoun shall include the corresponding masculine, feminine and neuter forms. The words “include,” “includes” and “including” shall
be deemed to be followed by the phrase “without limitation.” The word “will” shall be construed to have the same meaning and effect as the word “shall.” Unless the context requires otherwise, (i) any
definition of or reference to any agreement, instrument or other document (including any Organization Document) shall be construed as referring to such agreement, instrument or other document as from time to time amended, supplemented or otherwise
modified (subject to any restrictions on such amendments, supplements or modifications set forth herein or in any other Loan Document), (ii) any reference herein to any Person shall be construed to include such Person’s successors and
assigns, (iii) the words “hereto,” “herein,” “hereof” and “hereunder,” and words of similar import when used in any Loan Document, shall be construed to refer to such Loan
Document in its entirety and not to any particular provision thereof, (iv) all references in a Loan Document to Articles, Sections, Exhibits and Schedules shall be construed to refer to Articles and Sections of, and Exhibits and Schedules to,
the Loan Document in which such references appear, (v) any reference to any law shall include all statutory and regulatory provisions consolidating, amending, replacing or interpreting such law and any reference to any law or regulation shall,
unless otherwise specified, refer to such law or regulation as amended, modified or supplemented from time to time, and (vi) the words “asset” and “property” shall be construed to have the same meaning and
effect and to refer to any and all tangible and intangible assets and properties, including cash, securities, accounts and contract rights. 

  
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 (b) In the computation of periods of time from a specified date to a later specified date,
the word “from” means “from and including”; the words “to” and “until” each mean “to but excluding”; and the word “through” means “to and
including.” 
 (c) Section headings herein and in the other Loan Documents are included for convenience of reference
only and shall not affect the interpretation of this Agreement or any other Loan Document. 
 1.03 Accounting Terms.
Generally. All accounting terms not specifically or completely defined herein shall be construed in conformity with, and all financial data (including financial ratios and other financial calculations) required to be submitted pursuant to
this Agreement shall be prepared in conformity with, GAAP applied on a consistent basis, as in effect from time to time, applied in a manner consistent with that used in preparing the Audited Financial Statements, except as otherwise
specifically prescribed herein. Notwithstanding the foregoing, for purposes of determining compliance with any covenant (including the computation of any financial covenant) contained herein, Indebtedness of the Borrower and its Subsidiaries shall
be deemed to be carried at 100% of the outstanding principal amount thereof, and the effects of FASB ASC 825 and FASB ASC 470-20 on financial liabilities shall be disregarded. 
 (b) Changes in GAAP. If at any time any change in GAAP would affect the computation of any financial ratio or requirement set forth in any Loan Document, and either the Borrower or the Required
Lenders shall so request, the Administrative Agent, the Lenders and the Borrower shall negotiate in good faith to amend such ratio or requirement to preserve the original intent thereof in light of such change in GAAP (subject to the approval of the
Required Lenders); provided that, until so amended, (i) such ratio or requirement shall continue to be computed in accordance with GAAP prior to such change therein and (ii) the Borrower shall provide to the Administrative
Agent and the Lenders financial statements and other documents required under this Agreement or as reasonably requested hereunder setting forth a reconciliation between calculations of such ratio or requirement made before and after giving effect to
such change in GAAP. 
 1.04 Rounding. Any financial ratios required to be maintained by the Borrower pursuant to this
Agreement shall be calculated by dividing the appropriate component by the other component, carrying the result to one place more than the number of places by which such ratio is expressed herein and rounding the result up or down to the nearest
number (with a rounding-up if there is no nearest number). 
 1.05 Times of Day. Unless otherwise specified, all
references herein to times of day shall be references to Eastern time (daylight or standard, as applicable). 
 1.06 Letter
of Credit Amounts. Unless otherwise specified herein, the amount of a Letter of Credit at any time shall be deemed to be the stated amount of such Letter of Credit in effect at such time; provided, however, that with respect to any
Letter of Credit that, by its terms or the terms of any Issuer Document related thereto, provides for one or more automatic increases in the stated amount thereof, the amount of such Letter of Credit shall be deemed to be the maximum stated amount
of such Letter of Credit after giving effect to all such increases, whether or not such maximum stated amount is in effect at such time. 

  
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 ARTICLE II 
 THE COMMITMENTS AND CREDIT EXTENSIONS 
 2.01 Loans. Subject to the
terms and conditions set forth herein, each Lender severally agrees to make loans (each such loan, a “Loan”) to the Borrower from time to time, on any Business Day during the Availability Period, in an aggregate amount not to exceed
at any time outstanding the amount of such Lender’s Commitment; provided, however, that after giving effect to any Borrowing, (i) the Total Outstandings shall not exceed the Aggregate Commitments, and (ii) the aggregate
Outstanding Amount of the Loans of any Lender, plus such Lender’s Applicable Percentage of the Outstanding Amount of all L/C Obligations shall not exceed such Lender’s Commitment. Within the limits of each Lender’s Commitment,
and subject to the other terms and conditions hereof, the Borrower may borrow under this Section 2.01, prepay under Section 2.04, and reborrow under this Section 2.01. Loans may be Base Rate Loans or Eurodollar
Rate Loans, as further provided herein. 
 2.02 Borrowings, Conversions and Continuations of Loans. 

(a) Each Borrowing, each conversion of Loans from one Type to the other, and each continuation of Eurodollar Rate Loans shall be made
upon the Borrower’s irrevocable notice to the Administrative Agent, which may be given by telephone. Each such notice must be received by the Administrative Agent not later than 11:00 a.m. (i) three Business Days prior to the requested
date of any Borrowing of, conversion to or continuation of Eurodollar Rate Loans or of any conversion of Eurodollar Rate Loans to Base Rate Loans, and (ii) on the requested date of any Borrowing of Base Rate Loans; provided,
however, that if the Borrower wishes to request Eurodollar Rate Loans having an Interest Period other than one, two or three months in duration as provided in the definition of “Interest Period,” the applicable notice must be
received by the Administrative Agent not later than 11:00 a.m. four Business Days prior to the requested date of such Borrowing, conversion or continuation, whereupon the Administrative Agent shall give prompt notice to the Lenders of such request
and determine whether the requested Interest Period is acceptable to all of them. Not later than 11:00 a.m., three Business Days before the requested date of such Borrowing, conversion or continuation, the Administrative Agent shall notify the
Borrower (which notice may be by telephone) whether or not the requested Interest Period has been consented to by all the Lenders. Each telephonic notice by the Borrower pursuant to this Section 2.02(a) must be confirmed promptly by
delivery to the Administrative Agent of a written Loan Notice, appropriately completed and signed by a Responsible Officer of the Borrower. Each Borrowing of, conversion to or continuation of Eurodollar Rate Loans shall be in a principal amount of
$5,000,000 or a whole multiple of $1,000,000 in excess thereof. Except as provided in Section 2.03(c), each Borrowing of or conversion to Base Rate Loans shall be in a principal amount of $500,000 or a whole multiple of $100,000 in
excess thereof. Each Loan Notice (whether telephonic or written) shall specify (i) whether the Borrower is requesting a Borrowing, a conversion of Loans from one Type to the other, or a continuation of Eurodollar Rate Loans, (ii) the
requested date of the Borrowing, conversion or continuation, as the case may be (which shall be a Business Day), (iii) the principal amount of Loans to be borrowed, converted or continued, (iv) the Type of Loans to be borrowed or to which
existing Loans are to 

  
 25 

 
be converted, and (v) if applicable, the duration of the Interest Period with respect thereto. If the Borrower fails to specify a Type of Loan in a Loan Notice or if the Borrower fails to
give a timely notice requesting a conversion or continuation, then the applicable Loans shall be made as, or converted to, Base Rate Loans. Any such automatic conversion to Base Rate Loans shall be effective as of the last day of the Interest Period
then in effect with respect to the applicable Eurodollar Rate Loans. If the Borrower requests a Borrowing of, conversion to, or continuation of Eurodollar Rate Loans in any such Loan Notice, but fails to specify an Interest Period, it will be deemed
to have specified an Interest Period of one month. 
 (b) Following receipt of a Loan Notice, the Administrative Agent shall
promptly notify each Lender of the amount of its Applicable Percentage of the applicable Loans, and if no timely notice of a conversion or continuation is provided by the Borrower, the Administrative Agent shall notify each Lender of the details of
any automatic conversion to Base Rate Loans described in the preceding subsection. In the case of a Borrowing, each Lender shall make the amount of its Loan available to the Administrative Agent in immediately available funds at the Administrative
Agent’s Office not later than 1:00 p.m. on the Business Day specified in the applicable Loan Notice. Upon satisfaction of the applicable conditions set forth in Section 4.02 (and, if such Borrowing is the initial Credit Extension,
Section 4.01), the Administrative Agent shall make all funds so received available to the Borrower in like funds as received by the Administrative Agent either by (i) crediting the account of the Borrower on the books of Bank of
America with the amount of such funds or (ii) wire transfer of such funds, in each case in accordance with instructions provided to (and reasonably acceptable to) the Administrative Agent by the Borrower; provided, however, that
if, on the date the Loan Notice with respect to such Borrowing is given by the Borrower, there are L/C Borrowings outstanding, then the proceeds of such Borrowing, first, shall be applied to the payment in full of any such L/C Borrowings, and
second, shall be made available to the Borrower as provided above. 
 (c) Except as otherwise provided herein, a
Eurodollar Rate Loan may be continued or converted only on the last day of an Interest Period for such Eurodollar Rate Loan. During the existence of a Default, no Loans may be requested as, converted to or continued as Eurodollar Rate Loans without
the consent of the Required Lenders. 
 (d) The Administrative Agent shall promptly notify the Borrower and the Lenders of the
interest rate applicable to any Interest Period for Eurodollar Rate Loans upon determination of such interest rate. At any time that Base Rate Loans are outstanding, the Administrative Agent shall notify the Borrower and the Lenders of any change in
Bank of America’s prime rate used in determining the Base Rate promptly following the public announcement of such change. 

(e) After giving effect to all Borrowings, all conversions of Loans from one Type to the other, and all continuations of Loans as the
same Type, there shall not be more than three Interest Periods in effect with respect to Loans. 

  
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 2.03 Letters of Credit. 

(a) The Letter of Credit Commitment. 
 (i) Subject to the terms and conditions set forth herein, (A) the Fronting Bank agrees, in reliance upon the agreements of the Lenders set forth in this Section 2.03, (1) from time
to time on any Business Day during the Availability Period, to issue Fronted Letters of Credit for the account of the Borrower or its Subsidiaries, and to amend or extend Fronted Letters of Credit previously issued by it, in accordance with
subsection (b) below, and (2) to honor drawings under the Fronted Letters of Credit; and the Lenders severally agree to participate in Fronted Letters of Credit issued for the account of the Borrower or its Subsidiaries and any
drawings thereunder and (B) each Lender severally agrees, (1) from time to time on any Business Day during the Availability Period, to issue, extend and renew in such Lender’s Applicable Percentage, Several Letters of Credit at the
request of and for the account of the Borrower or its Subsidiaries, in accordance with subsection (b) below, and (2) to honor its Applicable Percentage of drawings under the Several Letters of Credit; provided that after giving
effect to any L/C Credit Extension with respect to any Letter of Credit, (x) the Total Outstandings shall not exceed the Aggregate Commitments, (y) the aggregate Outstanding Amount of the Loans of any Lender, plus such Lender’s
Applicable Percentage of the Outstanding Amount of all L/C Obligations shall not exceed such Lender’s Commitment, and (z) the Outstanding Amount of the L/C Obligations shall not exceed the Letter of Credit Sublimit. Each request by the
Borrower for the issuance or amendment of a Letter of Credit shall be deemed to be a representation by the Borrower that the L/C Credit Extension so requested complies with the conditions set forth in the proviso to the preceding sentence. Within
the foregoing limits, and subject to the terms and conditions hereof, the Borrower’s ability to obtain Letters of Credit shall be fully revolving, and accordingly the Borrower may, during the foregoing period, obtain Letters of Credit to
replace Letters of Credit that have expired or that have been drawn upon and reimbursed. The Applicable Issuing Party shall not issue any Letter of Credit, if: 
 (A) subject to Section 2.03(b)(iii), the expiry date of the requested Letter of Credit would occur more than twelve months after the date of issuance or last extension, unless the Required
Lenders have approved such expiry date; 
 (B) the expiry date of the requested Letter of Credit would occur
after the Letter of Credit Expiration Date, unless all the Lenders have approved such expiry date; or 
 (C) the
expiry date of the requested Letter of Credit would occur after the Maturity Date, unless the Borrower has provided Cash Collateral as required under Section 2.14(a)(ii). 

(ii) The Applicable Issuing Party shall not be under any obligation to issue any Letter of Credit if: 

(A) any order, judgment or decree of any Governmental Authority or arbitrator shall by its terms purport to enjoin or
restrain an L/C Issuer from issuing the Letter of Credit, or any Law applicable to an L/C Issuer or any request or directive (whether or not having the force of law) from any Governmental Authority with jurisdiction over an L/C Issuer shall
prohibit, or request that an 

  
 27 

 
L/C Issuer refrain from, the issuance of letters of credit generally or the Letter of Credit in particular or shall impose upon an L/C Issuer with respect to the Letter of Credit any restriction,
reserve or capital requirement (for which an L/C Issuer is not otherwise compensated hereunder) not in effect on the Closing Date, or shall impose upon an L/C Issuer any unreimbursed loss, cost or expense which was not applicable on the Closing Date
and which an L/C Issuer in good faith deems material to it; 
 (B) the issuance of the Letter of Credit would
violate one or more policies of an L/C Issuer applicable to letters of credit generally; 
 (C) except as
otherwise agreed by the Administrative Agent and the Applicable Issuing Party, the Letter of Credit is in an initial stated amount less than $100,000; 
 (D) the Letter of Credit is to be denominated in a currency other than Dollars; 
 (E) any Lender is at that time a Defaulting Lender, unless, in the case of a Fronted Letter of Credit, the Fronting Bank has entered into arrangements, including the delivery of Cash Collateral,
satisfactory to the Fronting Bank (in its sole discretion) with the Borrower or such Lender to eliminate the Fronting Bank’s actual or potential Fronting Exposure (after giving effect to Section 2.15(a)(iv)) with respect to the
Defaulting Lender arising from either the Fronted Letter of Credit then proposed to be issued or that Fronted Letter of Credit and all other L/C Obligations as to which the Fronting Bank has actual or potential Fronting Exposure, as it may elect in
its sole discretion; or 
 (F) the Letter of Credit contains any provisions for automatic reinstatement of the
stated amount after any drawing thereunder. 
 (iii) The Applicable Issuing Party shall not amend any Letter of
Credit if the Applicable Issuing Party would not be permitted at such time to issue the Letter of Credit in its amended form under the terms hereof. The Applicable Issuing Party shall be under no obligation to amend any Letter of Credit if
(A) the Applicable Issuing Party would have no obligation at such time to issue the Letter of Credit in its amended form under the terms hereof, or (B) the beneficiary of the Letter of Credit does not accept the proposed amendment to the
Letter of Credit. 
 (iv) The L/C Administrator is hereby authorized to execute and deliver each Several Letter
of Credit and each amendment to a Several Letter of Credit on behalf of each Lender provided that, upon request of the Borrower, such Several Letter of Credit or amendment will be executed by each Lender. The L/C Administrator shall use the
Applicable Percentage of each Lender as its “Commitment Share” under each Several Letter of Credit. The L/C Administrator shall not amend any Several Letter of Credit to change the “Commitment Share” of an L/C Issuer or add or
delete an L/C Issuer liable thereunder unless such amendment is done in connection with an assignment in 

  
 28 

 
accordance with Section 10.06, a change in the Lenders and/or the Applicable Percentages as a result of any increase in the Aggregate Commitments pursuant to Section 2.13
or any other addition or replacement of a Lender in accordance with the terms of this Agreement. Each Lender hereby irrevocably constitutes and appoints the L/C Administrator its true and lawful attorney-in-fact for and on behalf of such Lender with
full power of substitution and revocation in its own name or in the name of the L/C Administrator to issue, execute and deliver, as the case may be, each Several Letter of Credit and each amendment to a Several Letter of Credit and to carry out the
purposes of this Agreement with respect to Several Letters of Credit. Upon request, each Lender shall execute such powers of attorney or other documents as any beneficiary of any Several Letter of Credit may reasonably request to evidence the
authority of the L/C Administrator to execute and deliver such Several Letter of Credit and any amendment or other modification thereto on behalf of the Lenders. 

(v) The Applicable Issuing Party shall act on behalf of the Lenders with respect to any Letters of Credit issued by it and
the documents associated therewith, and the Applicable Issuing Party shall have all of the benefits and immunities (A) provided to the Administrative Agent in Article IX with respect to any acts taken or omissions suffered by the
Applicable Issuing Party in connection with Letters of Credit issued by it or proposed to be issued by it and Issuer Documents pertaining to such Letters of Credit as fully as if the term “Administrative Agent” as used in Article IX
included the Fronting Bank and the L/C Administrator with respect to such acts or omissions, and (B) as additionally provided herein with respect to the Fronting Bank and the L/C Administrator. 

(b) Procedures for Issuance and Amendment of Letters of Credit; Auto-Extension Letters of Credit. 

(i) Each Letter of Credit shall be issued or amended, as the case may be, upon the request of the Borrower delivered to
(x) the Fronting Bank, in the case of Fronted Letters of Credit and (y) the L/C Administrator, in the case of Several Letters of Credit (with a copy in each case to the Administrative Agent) in the form of a Letter of Credit Application,
appropriately completed and signed by a Responsible Officer of the Borrower and, if such Letter of Credit will be issued for the account of a Subsidiary, such Subsidiary. Such Letter of Credit Application may be sent by facsimile, by United States
mail, by overnight courier, by electronic transmission using the system provided by the Applicable Issuing Party, by personal delivery or by any other means acceptable to the Applicable Issuing Party. Such Letter of Credit Application must be
received by the Applicable Issuing Party and the Administrative Agent not later than 11:00 a.m. at least two Business Days (or such later date and time as the Administrative Agent and the Applicable Issuing Party may agree in a particular instance
in their sole discretion) prior to the proposed issuance date or date of amendment, as the case may be. In the case of a request for an initial issuance of a Letter of Credit, such Letter of Credit Application shall specify in form and detail
satisfactory to the Applicable Issuing Party: (A) the name of the account party, which shall be the Borrower or a Subsidiary, (B) the proposed issuance date of the requested Letter of Credit (which shall be a Business Day); (C) the
amount thereof; (D) the expiry date thereof (which shall be the earlier of the date which is twelve 

  
 29 

 
months from the date of issuance or the Letter of Credit Expiration Date); (E) the name and address of the beneficiary thereof; (F) the documents to be presented by such beneficiary in
case of any drawing thereunder; (G) the full text of any certificate to be presented by such beneficiary in case of any drawing thereunder; (H) the purpose and nature of the requested Letter of Credit; (I) in the case of Letters of
Credit issued for the account of an Insurance Subsidiary, whether such Letter of Credit is to be transferable in whole or in part; (J) whether such Letter of Credit shall be an Auto-Extension Letter of Credit (as defined below);
(K) whether such Letter of Credit is to be a Fronted Letter of Credit or a Several Letter of Credit; (L) whether such Letter of Credit shall be issued under the rules of the ISP or the UCP; and (M) such other matters as the Applicable
Issuing Party may require. In the case of a request for an amendment of any outstanding Letter of Credit, such Letter of Credit Application shall specify in form and detail satisfactory to the Applicable Issuing Party (1) the Letter of Credit
to be amended; (2) the proposed date of amendment thereof (which shall be a Business Day); (3) the nature of the proposed amendment; and (4) such other matters as the Applicable Issuing Party may require. Additionally, the Borrower
shall furnish to the Applicable Issuing Party and the Administrative Agent such other documents and information pertaining to such requested Letter of Credit issuance or amendment, as the Applicable Issuing Party or the Administrative Agent may
reasonably require. 
 (ii) Promptly after receipt of any Letter of Credit Application, the Applicable Issuing
Party will confirm with the Administrative Agent (by telephone or in writing) that the Administrative Agent has received a copy of such Letter of Credit Application from the Borrower and, if not, the Applicable Issuing Party will provide the
Administrative Agent with a copy thereof. Unless the Applicable Issuing Party has received written notice from any Lender, the Administrative Agent or the Borrower, at least one Business Day prior to the requested date of issuance or amendment of
the applicable Letter of Credit, that one or more applicable conditions contained in Article IV shall not then be satisfied, then, subject to the terms and conditions hereof, the Applicable Issuing Party shall, on the requested date, issue a
Letter of Credit for the account of the Borrower (or the applicable Subsidiary) or enter into the applicable amendment, as the case may be, in each case in accordance with the Applicable Issuing Party’s usual and customary business practices.
Immediately upon the issuance of each Fronted Letter of Credit, each Lender shall be deemed to, and hereby irrevocably and unconditionally agrees to, purchase from the Fronting Bank a risk participation in such Fronted Letter of Credit in an amount
equal to the product of such Lender’s Applicable Percentage times the amount of such Letter of Credit. 
 (iii) If the Borrower so requests in any applicable Letter of Credit Application, the Applicable Issuing Party may, in its sole discretion, agree to issue a Letter of Credit that has automatic extension
provisions (each, an “Auto-Extension Letter of Credit”); provided that any such Auto-Extension Letter of Credit must permit the Applicable Issuing Party to prevent any such extension at least once in each twelve-month period
(commencing with the date of issuance of such Letter of Credit) by giving prior notice to the beneficiary thereof not later than a day (the “Non-Extension Notice Date”) in each such twelve-month period to be agreed upon at the time
such Letter of Credit is issued. Unless otherwise directed by the Applicable Issuing Party, the Borrower shall not be 

  
 30 

 
required to make a specific request to the Applicable Issuing Party for any such extension. Once an Auto-Extension Letter of Credit has been issued, the Lenders shall be deemed to have authorized
(but may not require) the Applicable Issuing Party to permit the extension of such Letter of Credit at any time to an expiry date not later than the Letter of Credit Expiration Date; provided, however, that the Applicable Issuing Party
shall not permit any such extension if (A) the Applicable Issuing Party has determined that it would not be permitted, or would have no obligation, at such time to issue such Letter of Credit in its revised form (as extended) under the terms
hereof (by reason of the provisions of clause (ii) or (iii) of Section 2.03(a) or otherwise), or (B) it has received notice (which may be by telephone or in writing) on or before the day that is seven
Business Days before the Non-Extension Notice Date (1) from the Administrative Agent that the Required Lenders have elected not to permit such extension or (2) from the Administrative Agent, any Lender or the Borrower that one or more of
the applicable conditions specified in Section 4.02 is not then satisfied, and in each such case directing the Applicable Issuing Party not to permit such extension. 

(iv) Promptly after its delivery of any Letter of Credit or any amendment to a Letter of Credit to an advising bank with
respect thereto or to the beneficiary thereof, the Applicable Issuing Party will also deliver to the Borrower and the Administrative Agent a true and complete copy of such Letter of Credit or amendment. 

(c) Drawings and Reimbursements; Funding of Participations. 

(i) Upon receipt from the beneficiary of any Letter of Credit of any notice of a drawing under such Letter of Credit, the
Applicable Issuing Party shall notify the Borrower and the Administrative Agent thereof and of the date the Applicable Issuing Party will honor such request (each such date, an “Honor Date”). Not later than 10:00 a.m. (New York City
time) on the Honor Date for a Letter of Credit, the Borrower shall reimburse the Applicable Issuing Party through the Administrative Agent in an amount equal to the amount of such drawing. If the Borrower fails to so reimburse the Applicable Issuing
Party by such time, the Administrative Agent shall promptly notify each Lender of the amount of the unreimbursed drawing (the “Unreimbursed Amount”), and the amount of such Lender’s Applicable Percentage thereof. In such event,
the Borrower shall be deemed to have requested a Borrowing of Base Rate Loans to be disbursed on the Honor Date in an amount equal to the Unreimbursed Amount, without regard to the minimum and multiples specified in Section 2.02 for the
principal amount of Base Rate Loans, but subject to the amount of the unutilized portion of the Aggregate Commitments and the conditions set forth in Section 4.02 (other than the delivery of a Loan Notice). Any notice given by the
Applicable Issuing Party or the Administrative Agent pursuant to this Section 2.03(c)(i) may be given by telephone if immediately confirmed in writing; provided that the lack of such an immediate confirmation shall not affect the
conclusiveness or binding effect of such notice. The proceeds of such Base Rate Loan shall be applied to payment of the Unreimbursed Amount. 
 (ii) Each Lender shall upon any notice pursuant to Section 2.03(c)(i) make funds available (and the Administrative Agent may apply Cash Collateral provided for this purpose) for the account of
the Applicable Issuing Party at the Administrative 

  
 31 

 
Agent’s Office in an amount equal to its Applicable Percentage of the Unreimbursed Amount not later than 1:00 p.m. on the Business Day specified in such notice by the Administrative Agent,
whereupon, subject to the provisions of Section 2.03(c)(iii), each Lender that so makes funds available shall be deemed to have made a Base Rate Loan to the Borrower in such amount. The Administrative Agent shall remit the funds so
received to the Applicable Issuing Party. To the extent that the Administrative Agent has not received funds from a Lender with respect to a Several Letter of Credit, the L/C Administrator shall only forward the funds actually received to the
beneficiary. 
 (iii) With respect to any Unreimbursed Amount that is not fully refinanced by a Borrowing of Base
Rate Loans because the conditions set forth in Section 4.02 cannot be satisfied or for any other reason, the Borrower shall be deemed to have incurred an L/C Borrowing from (x) in the case of Fronted Letters of Credit, the Fronting
Bank and (y) in the case of Several Letters of Credit, from the Lenders to the extent that they have provided funds with respect to such Several Letter of Credit pursuant to this Section 2.03 in the amount of the Unreimbursed Amount
that is not so refinanced, which L/C Borrowing shall be due and payable on demand (together with interest) and shall bear interest at the Default Rate. In such event, each Lender’s payment to the Administrative Agent for the account of the
Applicable Issuing Party pursuant to Section 2.03(c)(ii) shall be deemed payment in respect of its participation in such L/C Borrowing and shall constitute an L/C Advance from such Lender in satisfaction of its funding or participation
obligation under this Section 2.03. 
 (iv) Until each Lender funds its Loan or L/C Advance pursuant
to this Section 2.03(c) to reimburse the Fronting Bank for any amount drawn under any Fronted Letter of Credit, interest in respect of such Lender’s Applicable Percentage of such amount shall be solely for the account of the
Fronting Bank. 
 (v) Each Lender’s obligation to make Base Rate Loans or L/C Advances to reimburse the
Fronting Bank for amounts drawn under Fronted Letters of Credit or to fund its obligations under any Several Letter of Credit, as contemplated by this Section 2.03(c), shall be absolute and unconditional and shall not be affected by any
circumstance, including (A) any setoff, counterclaim, recoupment, defense or other right which such Lender may have against the Applicable Issuing Party, the Borrower or any other Person for any reason whatsoever; (B) the occurrence or
continuance of a Default; or (C) any other occurrence, event or condition, whether or not similar to any of the foregoing; provided, however, that each Lender’s obligation to make Loans pursuant to this
Section 2.03(c) is subject to the conditions set forth in Section 4.02 (other than delivery by the Borrower of a Loan Notice). No such making of an L/C Advance shall relieve or otherwise impair the obligation of the Borrower
to reimburse the respective L/C Issuers for the amount of any payment made by any of the L/C Issuers under any Letter of Credit, together with interest as provided herein. 

(vi) If any Lender fails to make available to the Administrative Agent for the account of the Fronting Bank any amount
required to be paid by such Lender pursuant to the foregoing provisions of this Section 2.03(c) by the time specified in Section 2.03(c)(ii), then, without limiting the other provisions of this Agreement, the Fronting

  
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Bank shall be entitled to recover from such Lender (acting through the Administrative Agent), on demand, such amount with interest thereon for the period from the date such payment is required to
the date on which such payment is immediately available to the Fronting Bank at a rate per annum equal to the greater of the Federal Funds Rate and a rate determined by the Fronting Bank in accordance with banking industry rules on interbank
compensation, plus any administrative, processing or similar fees customarily charged by the Fronting Bank in connection with the foregoing. If such Lender pays such amount with respect to a Fronted Letter of Credit (with interest and fees as
aforesaid) or pays its Applicable Percentage of any Unreimbursed Amount with respect to a Several Letter of Credit, the amount so paid shall constitute such Lender’s Base Rate Loan or L/C Advance in respect of the relevant L/C Borrowing, as the
case may be, with respect to such drawn Letter of Credit. A certificate of the Fronting Bank submitted to any Lender (through the Administrative Agent) with respect to any amounts owing under this clause (vi) shall be conclusive absent
manifest error. 
 (d) Repayment of Participations. 

(i) At any time after the Applicable Issuing Party has made a payment under any Letter of Credit and has received from any
Lender such Lender’s L/C Advance in respect of such payment in accordance with Section 2.03(c), if the Administrative Agent receives any payment in respect of the related Unreimbursed Amount or interest thereon (whether directly
from the Borrower or otherwise, including proceeds of Cash Collateral applied thereto by the Administrative Agent), the Administrative Agent will distribute to such Lender its Applicable Percentage thereof in the same funds as those received by the
Administrative Agent. 
 (ii) If any payment received by the Administrative Agent pursuant to
Section 2.03(c)(i) is required to be returned under any of the circumstances described in Section 10.05 (including pursuant to any settlement entered into by the Fronting Bank or the L/C Administrator in its discretion), each
Lender shall pay to the Administrative Agent for the account of the Fronting Bank or L/C Administrator its Applicable Percentage thereof on demand of the Administrative Agent, plus interest thereon from the date of such demand to the date such
amount is returned by such Lender, at a rate per annum equal to the Federal Funds Rate from time to time in effect. The obligations of the Lenders under this clause shall survive the payment in full of the Obligations and the termination of this
Agreement. 
 (e) Obligations Absolute. The obligation of the Borrower to reimburse the applicable L/C Issuers for
each drawing under each Letter of Credit and to repay each L/C Borrowing shall be absolute, unconditional and irrevocable, and shall be paid strictly in accordance with the terms of this Agreement under all circumstances, including the following:

 (i) any lack of validity or enforceability of such Letter of Credit, this Agreement, or any other Loan
Document; 
 (ii) the existence of any claim, counterclaim, setoff, defense or other right that the Borrower or
any Subsidiary may have at any time against any beneficiary or any 

  
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transferee of such Letter of Credit (or any Person for whom any such beneficiary or any such transferee may be acting), the Applicable Issuing Party or L/C Issuer or any other Person, whether in
connection with this Agreement, the transactions contemplated hereby or by such Letter of Credit or any agreement or instrument relating thereto, or any unrelated transaction; 

(iii) any draft, demand, certificate or other document presented under such Letter of Credit proving to be forged,
fraudulent, invalid or insufficient in any respect or any statement therein being untrue or inaccurate in any respect; or any loss or delay in the transmission or otherwise of any document required in order to make a drawing under such Letter of
Credit; 
 (iv) waiver by the Applicable Issuing Party of any requirement that exists for the Applicable Issuing
Party’s protection and not the protection of the Borrower; 
 (v) honor of a demand for payment presented
electronically even if such Letter of Credit requires that demand be in the form of a draft; 
 (vi) any payment
made by the Applicable Issuing Party in respect of an otherwise complying item presented after the date specified as the expiration date of, or the date by which documents must be received under such Letter of Credit if presentation after such date
is authorized by the Uniform Commercial Code, the ISP or the UCP, to the extent the Uniform Commercial Code the ISP or the UCP is applicable pursuant to the terms of such Letter of Credit 

(vii) any payment by the Applicable Issuing Party under such Letter of Credit against presentation of a draft or
certificate that does not strictly comply with the terms of such Letter of Credit; or any payment made by the Applicable Issuing Party under such Letter of Credit to any Person purporting to be a trustee in bankruptcy, debtor-in-possession, assignee
for the benefit of creditors, liquidator, receiver or other representative of or successor to any beneficiary or any transferee of such Letter of Credit, including any arising in connection with any proceeding under any Debtor Relief Law; or

 (viii) any other circumstance or happening whatsoever, whether or not similar to any of the foregoing,
including any other circumstance that might otherwise constitute a defense available to, or a discharge of, the Borrower or any Subsidiary. 
 The Borrower shall promptly examine a copy of each Letter of Credit and each amendment thereto that is delivered to it and, in the event of any claim of noncompliance with the Borrower’s instructions
or other irregularity, the Borrower will immediately notify the Applicable Issuing Party. The Borrower shall be conclusively deemed to have waived any such claim against the Applicable Issuing Party and its correspondents unless such notice is given
as aforesaid. 
 (f) Role of Applicable Issuing Party. Each Lender and the Borrower agree that, in paying any
drawing under a Letter of Credit, the Applicable Issuing Party shall not have any responsibility to obtain any document (other than any sight draft, certificates and documents 

  
 34 

 
expressly required by the Letter of Credit) or to ascertain or inquire as to the validity or accuracy of any such document or the authority of the Person executing or delivering any such
document. None of the Applicable Issuing Parties, the Lenders, the Administrative Agent, any of their respective Related Parties nor any correspondent, participant or assignee of an Applicable Issuing Party shall be liable to any Lender for
(i) any action taken or omitted in connection herewith at the request or with the approval of the Lenders or the Required Lenders, as applicable; (ii) any action taken or omitted in the absence of gross negligence or willful misconduct; or
(iii) the due execution, effectiveness, validity or enforceability of any document or instrument related to any Letter of Credit or Issuer Document. The Borrower hereby assumes all risks of the acts or omissions of any beneficiary or transferee
with respect to its use of any Letter of Credit; provided, however, that this assumption is not intended to, and shall not, preclude the Borrower’s pursuing such rights and remedies as it may have against the beneficiary or
transferee at law or under any other agreement. None of the Applicable Issuing Parties, the Lenders, the Administrative Agent, any of their respective Related Parties nor any correspondent, participant or assignee of an Applicable Issuing Party
shall be liable or responsible for any of the matters described in clauses (i) through (viii) of Section 2.03(e); provided, however, that anything in such clauses to the contrary notwithstanding, the
Borrower may have a claim against the Applicable Issuing Party and/or the Lenders, and the Applicable Issuing Party and/or the Lenders may be liable to the Borrower, to the extent, but only to the extent, of any direct, as opposed to consequential
or exemplary, damages suffered by the Borrower which the Borrower proves were caused by the Applicable Issuing Party’s and/or a Lender’s willful misconduct or gross negligence or the Applicable Issuing Party’s and/or a Lender’s
willful failure to pay under any Letter of Credit after the presentation to it by the beneficiary of a sight draft and certificate(s) strictly complying with the terms and conditions of a Letter of Credit. In furtherance and not in limitation of the
foregoing, the Applicable Issuing Party may accept documents that appear on their face to be in order, without responsibility for further investigation, regardless of any notice or information to the contrary, and neither the Applicable Issuing
Party nor any Lender shall be responsible for the validity or sufficiency of any instrument transferring or assigning or purporting to transfer or assign a Letter of Credit or the rights or benefits thereunder or proceeds thereof, in whole or in
part, which may prove to be invalid or ineffective for any reason. The Applicable Issuing Party may send a Letter of Credit or conduct any communication to or from the beneficiary via the Society for Worldwide Interbank Financial Telecommunication
(“SWIFT”) message or overnight courier, or any other commercially reasonable means of communicating with a beneficiary. 
 (g) Applicability of ISP and UCP; Limitation of Liability. Unless otherwise expressly agreed by the Applicable Issuing Party and the Borrower when a Letter of Credit is issued, the rules of
the ISP shall apply unless, for regulatory purposes, the rules of the UCP must apply. Notwithstanding the foregoing, the Applicable Issuing Party shall not be responsible to the Borrower for, and the Applicable Issuing Party’s rights and
remedies against the Borrower shall not be impaired by, any action or inaction of the Applicable Issuing Party required or permitted under any law, order, or practice that is required or permitted to be applied to any Letter of Credit or this
Agreement, including the Law or any order of a jurisdiction where the Applicable Issuing Party or the beneficiary is located, the practice stated in the ISP or UCP, as applicable, or in the decisions, opinions, practice statements, or official
commentary of the ICC Banking Commission, the Bankers Association for Finance and Trade - International Financial Services Association (BAFT-IFSA), or the Institute of International Banking Law & Practice, whether or not any Letter of
Credit chooses such law or practice. 

  
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 (h) Letter of Credit Fees. The Borrower shall pay to the Administrative Agent for the
account of each Lender in accordance, subject to Section 2.15, with its Applicable Percentage a Letter of Credit fee (the “Letter of Credit Fee”) for each Letter of Credit equal to the Applicable Rate times the
daily amount available to be drawn under such Letter of Credit. For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with
Section 1.06. Letter of Credit Fees shall be (i) due and payable on the first Business Day after the end of each March, June, September and December, commencing with the first such date to occur after the issuance of such Letter of
Credit, on the Letter of Credit Expiration Date and thereafter on demand and (ii) computed on a quarterly basis in arrears. If there is any change in the Applicable Rate during any quarter, the daily amount available to be drawn under each
Letter of Credit shall be computed and multiplied by the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect. Notwithstanding anything to the contrary contained herein, upon the request of the
Required Lenders, while any Event of Default exists, all Letter of Credit Fees shall accrue at the Default Rate. 
 (i)
Fronting Fee and Documentary and Processing Charges Payable to Applicable Issuing Party. The Borrower shall pay directly to the Fronting Bank for its own account a fronting fee with respect to each Fronted Letter of Credit, at the rate
per annum specified in the Bank of America Fee Letter, computed on the daily amount available to be drawn under such Fronted Letter of Credit on a quarterly basis in arrears Such fronting fee shall be due and payable on the tenth Business Day after
the end of each March, June, September and December in respect of the most recently-ended quarterly period (or portion thereof, in the case of the first payment), commencing with the first such date to occur after the issuance of such Letter of
Credit, on the Letter of Credit Expiration Date and thereafter on demand. For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with
Section 1.06. In addition, the Borrower shall pay directly to the Applicable Issuing Party for its own account the customary issuance, presentation, amendment and other processing fees, and other standard costs and charges, of the
Applicable Issuing Party relating to Letters of Credit as from time to time in effect. Such customary fees and standard costs and charges are due and payable on demand and are nonrefundable. 

(j) Conflict with Issuer Documents. In the event of any conflict between the terms hereof and the terms of any Issuer Document,
the terms hereof shall control. 
 (k) Letters of Credit Issued for Subsidiaries. Notwithstanding that a Letter of Credit
issued or outstanding hereunder is in support of any obligations of, or is for the account of, a Subsidiary, the Borrower shall be obligated to reimburse the applicable L/C Issuer hereunder for any and all drawings under such Letter of Credit. The
Borrower hereby acknowledges that the issuance of Letters of Credit for the account of Subsidiaries inures to the benefit of the Borrower, and that the Borrower’s business derives substantial benefits from the businesses of such Subsidiaries.

  
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 2.04 Prepayments. 

(a) The Borrower may, upon notice to the Administrative Agent, at any time or from time to time voluntarily prepay Loans in whole or in
part without premium or penalty; provided that (i) such notice must be received by the Administrative Agent not later than 11:00 a.m. (A) three Business Days prior to any date of prepayment of Eurodollar Rate Loans and (B) on
the date of prepayment of Base Rate Loans; (ii) any prepayment of Eurodollar Rate Loans shall be in a principal amount of $5,000,000 or a whole multiple of $1,000,000 in excess thereof; and (iii) any prepayment of Base Rate Loans shall be
in a principal amount of $500,000 or a whole multiple of $100,000 in excess thereof or, in each case, if less, the entire principal amount thereof then outstanding. Each such notice shall specify the date and amount of such prepayment and the
Type(s) of Loans to be prepaid and, if Eurodollar Rate Loans are to be prepaid, the Interest Period(s) of such Loans. The Administrative Agent will promptly notify each Lender of its receipt of each such notice, and of the amount of such
Lender’s Applicable Percentage of such prepayment. If such notice is given by the Borrower, the Borrower shall make such prepayment and the payment amount specified in such notice shall be due and payable on the date specified therein. Any
prepayment of a Eurodollar Rate Loan shall be accompanied by all accrued interest on the amount prepaid, together with any additional amounts required pursuant to Section 3.05. Subject to Section 2.15, each such prepayment
shall be applied to the Loans of the Lenders in accordance with their respective Applicable Percentages. 
 (b) If for any
reason the Total Outstandings at any time exceed the Aggregate Commitments then in effect, the Borrower shall immediately prepay Loans and/or Cash Collateralize the L/C Obligations in an aggregate amount equal to such excess; provided,
however, that the Borrower shall not be required to Cash Collateralize the L/C Obligations pursuant to this Section 2.04(b) unless after the prepayment in full of the Loans the Total Outstandings exceed the Aggregate Commitments
then in effect. 
 2.05 Termination or Reduction of Commitments. The Borrower may, upon notice to the Administrative
Agent, terminate the Aggregate Commitments, or from time to time permanently reduce the Aggregate Commitments; provided that (i) any such notice shall be received by the Administrative Agent not later than 11:00 a.m. five Business Days prior to
the date of termination or reduction, (ii) any such partial reduction shall be in an aggregate amount of $10,000,000 or any whole multiple of $1,000,000 in excess thereof, (iii) the Borrower shall not terminate or reduce the Aggregate
Commitments if, after giving effect thereto and to any concurrent prepayments hereunder, the Total Outstandings would exceed the Aggregate Commitments, and (iv) if, after giving effect to any reduction of the Aggregate Commitments, the Letter
of Credit Sublimit exceeds the amount of the Aggregate Commitments, the Letter of Credit Sublimit shall be automatically reduced by the amount of such excess. The Administrative Agent will promptly notify the Lenders of any such notice of
termination or reduction of the Aggregate Commitments. Any reduction of the Aggregate Commitments shall be applied to the Commitment of each Lender according to its Applicable Percentage. All fees accrued until the effective date of any termination
of the Aggregate Commitments shall be paid on the effective date of such termination. 
 2.06 Repayment of Loans. The
Borrower shall repay to the Lenders on the Maturity Date the aggregate principal amount of Loans outstanding on such date. 

  
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 2.07 Interest. 

(a) Subject to the provisions of subsection (b) below, (i) each Eurodollar Rate Loan shall bear interest on the outstanding
principal amount thereof for each Interest Period at a rate per annum equal to the Eurodollar Rate for such Interest Period plus the Applicable Rate; and (ii) each Base Rate Loan shall bear interest on the outstanding principal amount
thereof from the applicable borrowing date at a rate per annum equal to the Base Rate plus the Applicable Rate. 

(b) (i) If any amount of principal of any Loan is not paid when due (without regard to any applicable grace periods), whether at
stated maturity, by acceleration or otherwise, such amount shall thereafter bear interest at a fluctuating interest rate per annum at all times equal to the Default Rate to the fullest extent permitted by applicable Laws. 

(ii) If any amount (other than principal of any Loan) payable by the Borrower under any Loan Document is not paid when due
(without regard to any applicable grace periods), whether at stated maturity, by acceleration or otherwise, then upon the request of the Required Lenders, such amount shall thereafter bear interest at a fluctuating interest rate per annum at all
times equal to the Default Rate to the fullest extent permitted by applicable Laws. 
 (iii) Upon the request of
the Required Lenders, while any Event of Default exists, the Borrower shall (other than as set forth in clauses (b)(i) and (ii) above) pay interest on the principal amount of all outstanding Obligations hereunder at a fluctuating
interest rate per annum at all times equal to the Default Rate to the fullest extent permitted by applicable Laws. 
 (iv) Accrued and unpaid interest on past due amounts (including interest on past due interest) shall be due and payable upon demand. 

(c) Interest on each Loan shall be due and payable in arrears on each Interest Payment Date applicable thereto and at such other times as
may be specified herein. Interest hereunder shall be due and payable in accordance with the terms hereof before and after judgment, and before and after the commencement of any proceeding under any Debtor Relief Law. 

2.08 Fees. In addition to certain fees described in subsections (h) and (i) of Section 2.03: 

(a) Commitment Fee. The Borrower shall pay to the Administrative Agent for the account of each Lender in accordance with
its Applicable Percentage, a commitment fee equal to the Applicable Rate times the actual daily amount by which the Aggregate Commitments exceed the sum of (i) the Outstanding Amount of Loans and (ii) the Outstanding Amount of L/C
Obligations, subject to adjustment as provided in Section 2.15. The commitment fee shall accrue at all times during the Availability Period, including at any time during which one or more of the conditions in Article IV is not
met, and shall be due and payable quarterly in arrears on the last Business Day of each March, June, September and December, commencing with the first such date to occur after the Closing Date, and on the last day of the Availability Period. The
commitment fee shall be calculated quarterly in arrears, and if there is any change in the 

  
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Applicable Rate during any quarter, the actual daily amount shall be computed and multiplied by the Applicable Rate separately for each period during such quarter that such Applicable Rate was in
effect. 
 (b) Other Fees. (i) The Borrower shall pay to the Arrangers and the Administrative Agent for their
own respective accounts fees in the amounts and at the times specified in the Fee Letters. Such fees shall be fully earned when paid and shall not be refundable for any reason whatsoever. 

(ii) The Borrower shall pay to the Lenders such fees as shall have been separately agreed upon in writing in the amounts
and at the times so specified. Such fees shall be fully earned when paid and shall not be refundable for any reason whatsoever. 

2.09 Computation of Interest and Fees. All computations of interest for Base Rate Loans (including Base Rate Loans determined by
reference to the Eurodollar Rate) shall be made on the basis of a year of 365 or 366 days, as the case may be, and actual days elapsed. All other computations of fees and interest shall be made on the basis of a 360-day year and actual days elapsed
(which results in more fees or interest, as applicable, being paid than if computed on the basis of a 365-day year). Interest shall accrue on each Loan for the day on which the Loan is made, and shall not accrue on a Loan, or any portion thereof,
for the day on which the Loan or such portion is paid, provided that any Loan that is repaid on the same day on which it is made shall, subject to Section 2.11(a), bear interest for one day. Each determination by the
Administrative Agent of an interest rate or fee hereunder shall be conclusive and binding for all purposes, absent manifest error. 
 2.10 Evidence of Indebtedness. 
 (a) The Credit Extensions made by each
Lender shall be evidenced by one or more accounts or records maintained by such Lender and by the Administrative Agent in the ordinary course of business. The accounts or records maintained by the Administrative Agent and each Lender shall be
conclusive absent manifest error of the amount of the Credit Extensions made by the Lenders to the Borrower and the interest and payments thereon. Any failure to so record or any error in doing so shall not, however, limit or otherwise affect the
obligation of the Borrower hereunder to pay any amount owing with respect to the Obligations. In the event of any conflict between the accounts and records maintained by any Lender and the accounts and records of the Administrative Agent in respect
of such matters, the accounts and records of the Administrative Agent shall control in the absence of manifest error. Upon the request of any Lender made through the Administrative Agent, the Borrower shall execute and deliver to such Lender
(through the Administrative Agent) a Note, which shall evidence such Lender’s Loans in addition to such accounts or records. Each Lender may attach schedules to its Note and endorse thereon the date, Type (if applicable), amount and maturity of
its Loans and payments with respect thereto. 
 (b) In addition to the accounts and records referred to in subsection (a), each
Lender and the Administrative Agent shall maintain in accordance with its usual practice accounts or records evidencing the purchases and sales by such Lender of participations in Letters of Credit. In the event of any conflict between the accounts
and records maintained by the Administrative Agent and the accounts and records of any Lender in respect of such matters, the accounts and records of the Administrative Agent shall control in the absence of manifest error. 

  
 39 

 2.11 Payments Generally; Administrative Agent’s Clawback. 

(a) General. All payments to be made by the Borrower shall be made free and clear of and without condition or deduction for any
counterclaim, defense, recoupment or setoff except to the extent of any Taxes (other than Indemnified Taxes) required to be withheld or deducted under Section 3.01(a)(i). Except as otherwise expressly provided herein, all payments by the
Borrower hereunder shall be made to the Administrative Agent, for the account of the respective Lenders to which such payment is owed, at the Administrative Agent’s Office in Dollars and in immediately available funds not later than 2:00 p.m.
on the date specified herein. The Administrative Agent will promptly distribute to each Lender its Applicable Percentage (or other applicable share as provided herein) of such payment in like funds as received by wire transfer to such Lender’s
Lending Office. All payments received by the Administrative Agent after 2:00 p.m. shall be deemed received on the next succeeding Business Day and any applicable interest or fee shall continue to accrue. If any payment to be made by the Borrower
shall come due on a day other than a Business Day, payment shall be made on the next following Business Day, and such extension of time shall be reflected in computing interest or fees, as the case may be. 

(b) (i) Funding by Lenders; Presumption by Administrative Agent. Unless the Administrative Agent shall have received notice
from a Lender prior to the proposed date of any Borrowing of Eurodollar Rate Loans (or, in the case of any Borrowing of Base Rate Loans, prior to 12:00 noon on the date of such Borrowing) that such Lender will not make available to the
Administrative Agent such Lender’s share of such Borrowing, the Administrative Agent may assume that such Lender has made such share available on such date in accordance with Section 2.02 (or, in the case of a Borrowing of Base Rate
Loans, that such Lender has made such share available in accordance with and at the time required by Section 2.02) and may, in reliance upon such assumption, make available to the Borrower a corresponding amount. In such event, if a
Lender has not in fact made its share of the applicable Borrowing available to the Administrative Agent, then the applicable Lender and the Borrower severally agree to pay to the Administrative Agent forthwith on demand such corresponding amount in
immediately available funds with interest thereon, for each day from and including the date such amount is made available to the Borrower to but excluding the date of payment to the Administrative Agent, at (A) in the case of a payment to be
made by such Lender, the greater of the Federal Funds Rate and a rate determined by the Administrative Agent in accordance with banking industry rules on interbank compensation, plus any administrative, processing or similar fees customarily charged
by the Administrative Agent in connection with the foregoing, and (B) in the case of a payment to be made by the Borrower, the interest rate applicable to Base Rate Loans. If the Borrower and such Lender shall pay such interest to the
Administrative Agent for the same or an overlapping period, the Administrative Agent shall promptly remit to the Borrower the amount of such interest paid by the Borrower for such period. If such Lender pays its share of the applicable Borrowing to
the Administrative Agent, then the amount so paid shall constitute such Lender’s Loan included in such Borrowing. Any payment by the Borrower shall be without prejudice to any claim the Borrower may have against a Lender that shall have failed
to make such payment to the Administrative Agent. 

  
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 (ii) Payments by Borrower; Presumptions by Administrative Agent.
Unless the Administrative Agent shall have received notice from the Borrower prior to the date on which any payment is due to the Administrative Agent for the account of the Lenders or the Fronting Bank hereunder that the Borrower will not make such
payment, the Administrative Agent may assume that the Borrower has made such payment on such date in accordance herewith and may, in reliance upon such assumption, distribute to the Lenders or the Fronting Bank, as the case may be, the amount due.
In such event, if the Borrower has not in fact made such payment, then each of the Lenders or the Fronting Bank, as the case may be, severally agrees to repay to the Administrative Agent forthwith on demand the amount so distributed to such Lender
or the Fronting Bank, in immediately available funds with interest thereon, for each day from and including the date such amount is distributed to it to but excluding the date of payment to the Administrative Agent, at the greater of the Federal
Funds Rate and a rate determined by the Administrative Agent in accordance with banking industry rules on interbank compensation. 
 A notice of the Administrative Agent to any Lender or the Borrower with respect to any amount owing under this subsection (b) shall be conclusive, absent manifest error. 

(c) Failure to Satisfy Conditions Precedent. If any Lender makes available to the Administrative Agent funds for any Loan to be
made by such Lender as provided in the foregoing provisions of this Article II, and such funds are not made available to the Borrower by the Administrative Agent because the conditions to the applicable Credit Extension set forth in
Article IV are not satisfied or waived in accordance with the terms hereof, the Administrative Agent shall return such funds (in like funds as received from such Lender) to such Lender, without interest. 

(d) Obligations of Lenders Several. The obligations of the Lenders hereunder to make Loans, to fund Several Letters of Credit, to
purchase participations in Fronted Letters of Credit and to make payments pursuant to Section 10.04(c) are several and not joint. The failure of any Lender to make any Loan, to fund any Several Letter of Credit, to purchase a
participation in any Fronted Letter of Credit or to make any payment under Section 10.04(c) on any date required hereunder shall not relieve any other Lender of its corresponding obligation to do so on such date, and no Lender shall be
responsible for the failure of any other Lender to so make its Loan, to fund a Several Letter of Credit, to purchase its participation in a Fronted Letter of Credit or make its payment under Section 10.04(c). 

(e) Funding Source. Nothing herein shall be deemed to obligate any Lender to obtain the funds for any Loan in any particular place
or manner or to constitute a representation by any Lender that it has obtained or will obtain the funds for any Loan in any particular place or manner. 
 2.12 Sharing of Payments by Lenders. If any Lender shall, by exercising any right of setoff or counterclaim or otherwise, obtain payment in respect of any principal of or interest on any of the
Loans made by it, or in L/C Obligations held by it resulting in such Lender’s receiving payment of a proportion of the aggregate amount of such Loans or L/C Obligations and accrued interest thereon greater than its pro rata share thereof as
provided herein, then the Lender 

  
 41 

 
receiving such greater proportion shall (a) notify the Administrative Agent of such fact, and (b) purchase (for cash at face value) participations in the Loans and participations or
subparticipations in L/C Obligations of the other Lenders, or make such other adjustments as shall be equitable, so that the benefit of all such payments shall be shared by the Lenders ratably in accordance with the aggregate amount of principal of
and accrued interest on their respective Total Outstandings and other amounts owing them, provided that: 

(i) if any such participations or subparticipations are purchased and all or any portion of the payment giving rise
thereto is recovered, such participations or subparticipations shall be rescinded and the purchase price restored to the extent of such recovery, without interest; and 

(ii) the provisions of this Section shall not be construed to apply to (x) any payment made by or on behalf of the
Borrower pursuant to and in accordance with the express terms of this Agreement (including the application of funds arising from the existence of a Defaulting Lender), (y) the application of Cash Collateral provided for in
Section 2.14, or (z) any payment obtained by a Lender as consideration for the assignment of or sale of a participation in any of its Loans or L/C Obligations to any assignee or participant, other than an assignment to the Borrower
or any Affiliate thereof (as to which the provisions of this Section shall apply). 
 The Borrower consents to the foregoing and
agrees, to the extent it may effectively do so under applicable law, that any Lender acquiring a participation pursuant to the foregoing arrangements may exercise against the Borrower rights of setoff and counterclaim with respect to such
participation as fully as if such Lender were a direct creditor of the Borrower in the amount of such participation. 
 2.13
Increase in Commitments. 
 (a) Request for Increase. Provided there exists no Default, upon notice to the
Administrative Agent (which shall promptly notify the Lenders), the Borrower may from time to time prior to the date that is 30 days prior to the Maturity Date increase the aggregate Commitments hereunder by an amount (for all such requests) not
exceeding $50,000,000 by adding to this Agreement one or more other Eligible Assignees (which may include any existing Lender, with the consent of such Lender in its sole discretion) (each such Person, a “Supplemental Lender”) with
the approval of (x) the Administrative Agent (which approval shall not be unreasonably withheld or delayed); provided that no consent of the Administrative Agent will be required in the case of any such Eligible Assignee that is a Lender
or an Affiliate of a Lender and (y) the Fronting Bank, provided that (i) each Supplemental Lender shall have entered into an agreement pursuant to which such Supplemental Lender shall undertake a Commitment (or, if such Supplemental
Lender is an existing Lender, pursuant to which its Commitment shall be increased), (ii) such Commitment of any Supplemental Lender that is not an existing Lender shall be in an amount of at least $5,000,000, and (iii) such Commitment
(together with the increased Commitment(s) of all other Supplemental Lenders being provided at such time) shall be in an aggregate amount of at least $5,000,000. No Lender shall be required, or otherwise obligated, to provide any such requested
increase in Commitments except in its sole and absolute discretion. 

  
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 (b) Required Supplemental Lender Documentation. Each such Supplemental Lender shall
enter into an agreement in form and substance satisfactory to the Borrower and the Administrative Agent pursuant to which such Supplemental Lender shall, as of the effective date of such increase in the Commitments (which shall be a Business Day
and, unless the Administrative Agent otherwise agrees, on which no issuance, amendment, renewal or extension of any Letter of Credit is scheduled to occur or no Borrowing is scheduled to be made, each a “Supplemental Commitment
Date”), undertake a Commitment (or, if any such Supplemental Lender is an existing Lender, its Commitment shall be in addition to such Lender’s Commitment hereunder on such date) and such Supplemental Lender shall thereupon become (or
continue to be) a “Lender” for all purposes hereof. 
 (c) Conditions to Effectiveness of Increase.
Notwithstanding the foregoing, no increase in the Aggregate Commitments hereunder pursuant to this Section shall be effective unless: 
 (i) the Borrower shall have given the Administrative Agent written notice of any such increase at least five Business Days (or such shorter period as may be acceptable to the Administrative Agent) prior
to the applicable Supplemental Commitment Date; 
 (ii) no Default shall have occurred and be continuing on the
applicable Supplemental Commitment Date; 
 (iii) the Borrower shall deliver to the Administrative Agent a
certificate dated as of the Supplemental Commitment Date signed by a Responsible Officer of the Borrower (x) certifying and attaching the resolutions adopted by the Borrower approving or consenting to such increase, and (y) certifying
that, before and after giving effect to such increase, (A) the representations and warranties contained in Article V and the other Loan Documents shall be true in all material respects on and as of the applicable Supplemental Commitment
Date with the same force and effect as if made on and as of such 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); and (B) no Default exists; and 

(iv) on each Supplemental Commitment Date, the Administrative Agent shall reallocate any outstanding Loans so that, after
giving effect thereto, the Loans are held ratably by the Lenders in accordance with their respective Commitments (after giving effect to such increase) and the Borrower shall (A) pay the interest due on such Loans prior to such Supplemental
Commitment Date and (B) pay to the Lenders the amounts, if any, payable under Section 3.05 as if such Loans had been prepaid it being understood that the Administrative Agent and the Borrower will cooperate, to the extent feasible,
to set the Supplemental Commitment Date on a date which minimizes or eliminates the obligation of the Borrower to pay additional amounts under Section 3.05. 
 (d) Revised Percentages and Letter of Credit Amendments. The Administrative Agent shall promptly notify the Lenders of the new Applicable Percentages after giving effect to the increase in the
Commitments. Promptly after the Supplemental Commitment Date, the 

  
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L/C Administrator shall amend the outstanding Several Letters of Credit to reflect the new “Commitment share” of each Lender (including the Supplemental Lender) and prior to the date a
Several Letter of Credit has been amended to give effect to such new “Commitment share,” each Supplemental Lender shall be deemed to irrevocably and unconditionally purchase from each Lender who has issued such Several Letter of Credit, a
risk participation in such Several Letter of Credit in an amount such that after giving effect to such purchase, each Lender (including the Supplemental Lender) has its Applicable Percentage of such Several Letter of Credit. 

(e) Conflicting Provisions. This Section shall supersede any provisions in Section 2.12 or 10.01 to the
contrary. 
 2.14 Cash Collateral. 
 (a) Certain Credit Support Events. (i) If the Fronting Bank has honored any full or partial drawing request under any Fronted Letter of Credit and such drawing has resulted in an L/C
Borrowing, upon the request of the Administrative Agent or the Fronting Bank the Borrower shall within one Business Day of such request from the Administrative Agent or the Fronting Agent provide to the Administrative Agent Cash Collateral equal to
the Minimum Collateral Amount of the Outstanding Amount of such L/C Borrowing, (ii) if the Borrower requests a Letter of Credit with (or an amendment to extend, including any extension pursuant to an auto-renewal provision in a Letter of
Credit) an expiry date beyond the Maturity Date, prior to such issuance or extension of such Letter of Credit, the Borrower shall provide to the Administrative Agent Cash Collateral equal to the Minimum Collateral Amount of the Outstanding Amount of
such Letter of Credit, (iii) if, as of the Letter of Credit Expiration Date, any L/C Obligation for any reason remains outstanding, the Borrower shall on or before the Letter of Credit Expiration Date provide to the Administrative Agent Cash
Collateral equal to the Minimum Collateral Amount of the then Outstanding Amount of such L/C Obligations, (iv) if the Borrower is required to provide Cash Collateral pursuant to Section 8.02(c), the Borrower shall immediately
provide to the Administrative Agent Cash Collateral equal to the Minimum Collateral Amount of the then Outstanding Amount of all L/C Obligations and (v) if at any time that there shall exist a Defaulting Lender, upon the request of the
Administrative Agent or the Fronting Bank, the Borrower shall within one Business Day of such request deliver to the Administrative Agent Cash Collateral in an amount sufficient to cover the Minimum Collateral Amount of all Fronting Exposure (after
giving effect to Section 2.15(a)(iv) and any Cash Collateral provided by the Defaulting Lender). 
 (b) Grant of
Security Interest. All Cash Collateral (other than credit support not constituting funds subject to deposit) shall be maintained (x) in the case of funds deposited by the Borrower, in a blocked deposit or securities account at the
Administrative Agent or such other financial institution as is acceptable to the Administrative Agent (each, a “Borrower L/C Collateral Account”) which shall be invested in Permitted Investments and (y) in the case of funds
deposited by a Defaulting Lender, in blocked, non-interest bearing deposit accounts at the Administrative Agent. The Borrower, and to the extent provided by any Defaulting Lender, such Defaulting Lender, hereby grants to (and subjects to the control
of) the Administrative Agent, for the benefit of the Administrative Agent, the Fronting Bank and the Lenders, and agrees to maintain, a first priority security interest in all such cash, deposit accounts and all balances

  
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therein, and all other property so provided as collateral pursuant hereto, and in all proceeds of the foregoing, all as security for the obligations to which such Cash Collateral may be applied
pursuant to Section 2.14(c) and shall execute such additional documents as the Administrative Agent may reasonably request to ensure that the Administrative Agent has a first priority security interest in such Cash Collateral. If at any
time the Administrative Agent determines that Cash Collateral is subject to any right or claim of any Person other than the Administrative Agent as herein provided, or that the total amount of such Cash Collateral is less than the applicable
Fronting Exposure and other obligations secured thereby, the Borrower or the relevant Defaulting Lender will, promptly upon demand by the Administrative Agent, pay or provide to the Administrative Agent additional Cash Collateral in an amount
sufficient to eliminate such deficiency. The Borrower, or if the Borrower provides Cash Collateral pursuant to Section 2.14(a)(v), the relevant Defaulting Lender, shall pay on demand therefor from time to time all customary account
opening, activity and other administrative fees and charges in connection with the maintenance and disbursement of Cash Collateral. 
 (c) Application. Notwithstanding anything to the contrary contained in this Agreement, Cash Collateral provided under any of this Section 2.14 or Sections 2.03, 2.15 or
8.02 in respect of Letters of Credit shall be held and applied to the satisfaction of the specific L/C Obligations, obligations to fund participations therein (including, as to Cash Collateral provided by a Defaulting Lender, any interest
accrued on such obligation) and other obligations for which the Cash Collateral was so provided, prior to any other application of such property as may otherwise be provided for herein. 

(d) Release. Cash Collateral (or the appropriate portion thereof) provided to reduce Fronting Exposure or to secure other
obligations shall be released promptly following (i) the elimination of the applicable Fronting Exposure or other obligations giving rise thereto (including by the termination of Defaulting Lender status of the applicable Lender (or, as
appropriate, its assignee following compliance with Section 10.06(b)(vi))) or (ii) the determination by the Administrative Agent and the Fronting Bank that there exists excess Cash Collateral; provided, however, (x) that
Cash Collateral furnished by or on behalf of the Borrower shall not be released during the continuance of a Default (and following application as provided in this Section 2.14 may be otherwise applied in accordance with
Section 8.03), and (y) the Person providing Cash Collateral and the Fronting Bank may agree that Cash Collateral shall not be released but instead held to support future anticipated Fronting Exposure or other obligations.

 2.15 Defaulting Lenders. 
 (a) Adjustments. Notwithstanding anything to the contrary contained in this Agreement, if any Lender becomes a Defaulting Lender, then, until such time as that Lender is no longer a Defaulting
Lender, to the extent permitted by applicable Law: 
 (i) Waivers and Amendments. A Defaulting
Lender’s right to approve or disapprove any amendment, waiver or consent with respect to this Agreement shall be restricted as set forth in the definition of “Required Lenders” and Section 10.01. 

(ii) Defaulting Lender Waterfall. Any payment of principal, interest, fees or other amounts received by the
Administrative Agent for the account of such Defaulting 

  
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Lender (whether voluntary or mandatory, at maturity, pursuant to Article VIII or otherwise received by the Administrative Agent from a Defaulting Lender pursuant to
Section 10.08), shall be applied at such time or times as may be determined by the Administrative Agent as follows: first, to the payment of any amounts owing by such Defaulting Lender to the Administrative Agent hereunder;
second, to the payment on a pro rata basis of any amounts owing by such Defaulting Lender to the Fronting Bank hereunder; third, to Cash Collateralize the Fronting Bank’s Fronting Exposure with respect to such Defaulting Lender in
accordance with Section 2.15; fourth, as the Borrower may request (so long as no Default or Event of Default exists), to the funding of any Loan in respect of which such Defaulting Lender has failed to fund its portion thereof as
required by this Agreement, as determined by the Administrative Agent; fifth, if so determined by the Administrative Agent and the Borrower, to be held in a deposit account and released pro rata in order to (x) satisfy such Defaulting
Lender’s potential future funding obligations with respect to Loans under this Agreement and (y) Cash Collateralize the future Fronting Exposure with respect to such Defaulting Lender with respect to future Letters of Credit issued under
this Agreement, in accordance with Section 2.15; sixth, to the payment of any amounts owing to the Lenders or the Fronting Bank as a result of any judgment of a court of competent jurisdiction obtained by any Lender or the
Fronting Bank against such Defaulting Lender as a result of such Defaulting Lender’s breach of its obligations under this Agreement; seventh, so long as no Default or Event of Default exists, to the payment of any amounts owing to the
Borrower as a result of any judgment of a court of competent jurisdiction obtained by the Borrower against such Defaulting Lender as a result of such Defaulting Lender’s breach of its obligations under this Agreement; and eighth, to such
Defaulting Lender or as otherwise directed by a court of competent jurisdiction; provided that if (x) such payment is a payment of the principal amount of any Loans or L/C Obligations in respect of which such Defaulting Lender has not
fully funded its appropriate share and (y) such Loans were made the related Letters of Credit were issued at a time when the conditions set forth in Section 4.02 were satisfied or waived, such payment shall be applied solely to pay
the Loans of, and L/C Obligations owed to, all Non-Defaulting Lenders on a pro rata basis prior to being applied to the payment of any Loans of, or L/C Obligations owed to, such Defaulting Lender until such time as all Loans and funded and unfunded
participations in L/C Obligations are held by the Lenders pro rata in accordance with the Commitments hereunder without giving effect to Section 2.15(a)(iv). Any payments, prepayments or other amounts paid or payable to a Defaulting
Lender that are applied (or held) to pay amounts owed by a Defaulting Lender or to post Cash Collateral pursuant to this Section 2.15(a)(ii) shall be deemed paid to and redirected by such Defaulting Lender, and each Lender irrevocably
consents hereto. 
 (iii) Certain Fees. 

(A) No Defaulting Lender shall be entitled to receive any fee payable under Section 2.08(a) for any period during which such
Lender is a Defaulting Lender (and the Borrower shall not be required to pay any such fee that otherwise would have been required to have been paid to such Defaulting Lender). 

  
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 (B) Each Defaulting Lender shall be entitled to receive Letter of Credit Fees for any period
during which such Lender is a Defaulting Lender only to the extent allocable to its Applicable Percentage of the stated amount of Letters of Credit for which it has provided Cash Collateral pursuant to Section 2.14. 

(C) With respect to any fee payable under Section 2.08(a) or any Letter of Credit Fee not required to be paid to any
Defaulting Lender pursuant to clause (A) or (B) above, the Borrower shall (x) pay to each Non-Defaulting Lender that portion of any such fee otherwise payable to such Defaulting Lender with respect to such Defaulting
Lender’s participation in L/C Obligations that has been reallocated to such Non-Defaulting Lender pursuant to clause (iv) below, (y) pay to the Fronting Bank, the amount of any such fee otherwise payable to such Defaulting
Lender to the extent allocable to the Fronting Bank’s Fronting Exposure to such Defaulting Lender, and (z) not be required to pay the remaining amount of any such fee. 

(iv) Reallocation of Applicable Percentages to Reduce Fronting Exposure. All or any part of such Defaulting
Lender’s participation in L/C Obligations shall be reallocated among the Non-Defaulting Lenders in accordance with their respective Applicable Percentages (calculated without regard to such Defaulting Lender’s Commitment) but only to the
extent that (x) the conditions set forth in Section 4.02 are satisfied at the time of such reallocation (and, unless the Borrower shall have otherwise notified the Administrative Agent at such time, the Borrower shall be deemed to
have represented and warranted that such conditions are satisfied at such time), and (y) such reallocation does not cause the aggregate Outstanding Amount of any Non-Defaulting Lender to exceed such Non-Defaulting Lender’s Commitment. No
reallocation hereunder shall constitute a waiver or release of any claim of any party hereunder against a Defaulting Lender arising from that Lender having become a Defaulting Lender, including any claim of a Non-Defaulting Lender as a result of
such Non-Defaulting Lender’s increased exposure following such reallocation. 
 (v) Cash Collateral.
If the reallocation described in clause (a)(iv) above cannot, or can only partially, be effected, the Borrower shall, without prejudice to any right or remedy available to it hereunder or under applicable Law, Cash Collateralize the Fronting
Bank’s Fronting Exposure in accordance with the procedures set forth in Section 2.14. 
 (b) Defaulting
Lender Cure. If the Borrower, the Administrative Agent and the Fronting Bank agree in writing in their sole discretion that a Defaulting Lender should no longer be deemed to be a Defaulting Lender, the Administrative Agent will so notify the
parties hereto, whereupon as of the effective date specified in such notice and subject to any conditions set forth therein (which may include arrangements with respect to any Cash Collateral), that Lender will, to the extent applicable, purchase
that portion of outstanding Loans of the other Lenders or take such other actions as the Administrative Agent may determine to be necessary to cause the Loans and funded and unfunded participations in Letters of Credit to be held on a pro rata basis
by the Lenders in accordance with their Applicable Percentages (without giving effect to Section 2.15(a)(iv)), whereupon that Lender will cease to be a Defaulting Lender; provided that no

  
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adjustments will be made retroactively with respect to fees accrued or payments made by or on behalf of the Borrower while that Lender was a Defaulting Lender; and provided,
further, that except to the extent otherwise expressly agreed by the affected parties, no change hereunder from Defaulting Lender to Lender will constitute a waiver or release of any claim of any party hereunder arising from that
Lender’s having been a Defaulting Lender. 
 ARTICLE III 

TAXES, YIELD PROTECTION AND ILLEGALITY 
 3.01 Taxes. 
 (a) Payments Free of Taxes; Obligation to Withhold;
Payments on Account of Taxes. (i) Any and all payments by or on account of any Obligation of the Borrower under any Loan Document shall be made without deduction or withholding for any Taxes, except as required by applicable Laws. If any
applicable Laws (as determined in the good faith discretion of the Administrative Agent or the Borrower) require the deduction or withholding of any Tax from any such payment by the Administrative Agent or the Borrower, then the Administrative Agent
or the Borrower shall be entitled to make such deduction or withholding, upon the basis of the information and documentation to be delivered pursuant to subsection (e) below. 

(ii) If the Borrower or the Administrative Agent shall be required by any applicable Law to withhold or deduct any Taxes
from any payment described hereunder or pursuant to any other Loan Document, then (A) the Borrower or the Administrative Agent, as the case may be, shall withhold or make such deductions as are required by any applicable Law, (B) the
Borrower or the Administrative Agent, as the case may be, shall timely pay the full amount withheld or deducted to the relevant Governmental Authority in accordance with the applicable Law, and (C) to the extent that the withholding or
deduction is made on account of Indemnified Taxes, the sum payable by the Borrower shall be increased as necessary so that after any required withholding of Indemnified Taxes or the making of all required deductions of Indemnified Taxes (including
deductions applicable to additional sums payable under this Section 3.01) the applicable Recipient receives an amount equal to the sum it would have received had no such withholding or deduction of Indemnified Taxes been made.

 (b) Payment of Other Taxes by the Borrower. Without limiting the provisions of subsection (a) above, the Borrower
shall timely pay any Other Taxes to the relevant Governmental Authority in accordance with applicable Laws. 
 (c) Tax
Indemnifications. Without duplication of Sections 3.01(a) or (b) above: (i) The Borrower shall and does hereby indemnify each Recipient, and shall make payment in respect thereof within 10 days after demand therefor, for
the full amount of any Indemnified Taxes (including Indemnified Taxes imposed or asserted on or attributable to amounts payable under this Section 3.01) payable or paid by such Recipient, and any penalties, interest and 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 Borrower by a Lender or the Fronting Bank (with a copy to the Administrative Agent), or by the Administrative Agent on 

  
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its own behalf or on behalf of a Lender or the Fronting Bank, shall be conclusive absent manifest error. Without duplication of Sections 3.01(a) or (b) above, the Borrower
shall, and does hereby, indemnify the Administrative Agent, and shall make payment in respect thereof within 10 days after demand therefor, for any Indemnified Taxes which a Lender or the Fronting Bank for any reason fails to pay indefeasibly to the
Administrative Agent as required pursuant to Section 3.01(c)(ii) below. 
 (ii) Each Lender and the Fronting Bank shall, and does
hereby, severally indemnify, and shall make payment in respect thereof within 10 days after demand therefor, (x) the Administrative Agent against any Indemnified Taxes attributable to such Lender or the Fronting Bank (but only to the
extent that the Borrower has not already indemnified the Administrative Agent for such Indemnified Taxes and without limiting the obligation of the Borrower to do so), (y) the Administrative Agent and the Borrower as applicable, against
any Taxes attributable to such Lender’s failure to comply with the provisions of Section 10.06(d) relating to the maintenance of a Participant Register and (z) the Administrative Agent and the Borrower as applicable,
against any Excluded Taxes attributable to such Lender or the Fronting Bank, in each case, that are payable or paid by the Administrative Agent or the Borrower in connection with any Loan Document, and any 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. A certificate as to the amount of such payment or liability delivered to any Lender by the Administrative Agent
shall be conclusive absent manifest error. Each Lender and the Fronting Bank hereby authorizes the Administrative Agent to set off and apply any and all amounts at any time owing to such Lender or the Fronting Bank, as the case may be, under this
Agreement or any other Loan Document against any amount due to the Administrative Agent under this clause (ii); provided that, for the avoidance of doubt, the Borrower’s Obligations under this Agreement or any other Loan Document
shall not be increased as a result of such set off. The agreements in this clause (ii) shall survive the resignation and/or replacement of the Administrative Agent, any assignment of rights by, or the replacement of, a Lender or the
Fronting Bank, the termination of the Aggregate Commitments and the repayment, satisfaction or discharge of all other Obligations. 
 (d) Evidence of Payments. Upon request by the Borrower or the Administrative Agent, as the case may be, after any payment of Taxes by the Borrower or by the Administrative Agent to a
Governmental Authority as provided in this Section 3.01, the Borrower shall deliver to the Administrative Agent or the Administrative Agent shall deliver to the Borrower, as the case may be, the original or a certified copy of a receipt
issued by such Governmental Authority evidencing such payment or other evidence of such payment reasonably satisfactory to the Borrower or the Administrative Agent, as the case may be. 

(e) Status of Lenders; Tax Documentation Any Lender that is entitled to an exemption from or reduction of withholding Tax with
respect to payments made under any Loan Document shall deliver to the Borrower and the Administrative Agent, at the time or times reasonably requested by the Borrower or the Administrative Agent, such properly completed and executed documentation
reasonably requested by the Borrower or the Administrative Agent as will permit such payments to be made without withholding or at a reduced rate of withholding. In addition, any Lender, if reasonably requested by the Borrower or the Administrative
Agent, shall deliver such other documentation prescribed by applicable law or reasonably requested by 

  
 49 

 
the Borrower or the Administrative Agent as will enable the Borrower or the Administrative Agent to determine whether or not such Lender is subject to backup withholding or information reporting
requirements. Notwithstanding anything to the contrary in the preceding two sentences, the completion, execution and submission of such documentation (other than such documentation set forth in Section 3.01(e)(i)(A), (i)(B) and
(i)(D) below) shall not be required if in the Lender’s reasonable judgment such completion, execution or submission would subject such Lender to any material unreimbursed cost or expense or would materially prejudice the legal or
commercial position of such Lender. 
 (i) Without limiting the generality of the foregoing, in the event that
the Borrower is a U.S. Person, 
 (A) any Lender that is a U.S. Person shall deliver to the Borrower and the
Administrative Agent on or prior to the date on which such Lender becomes a Lender under this Agreement (and from time to time thereafter upon the reasonable request of the Borrower or the Administrative Agent), executed originals of IRS Form W-9
certifying that such Lender is exempt from U.S. federal backup withholding tax; 
 (B) any Foreign Lender shall,
to the extent it is legally entitled to do so, deliver to the Borrower and the Administrative Agent (in such number of copies as shall be requested by the recipient) on or prior to the date on which such Foreign Lender becomes a Lender under this
Agreement (and from time to time thereafter upon the reasonable request of the Borrower or the Administrative Agent), whichever of the following is applicable: 
 (1) in the case of a Foreign Lender claiming the benefits of an income tax treaty to which the United States is a party (x) with respect to payments of interest under any Loan Document, executed
originals of IRS Form W-8BEN establishing an exemption from, or reduction of, U.S. federal withholding Tax pursuant to the “interest” article of such tax treaty and (y) with respect to any other applicable payments under any Loan
Document, IRS Form W-8BEN establishing an exemption from, or reduction of, U.S. federal withholding Tax pursuant to the “business profits” or “other income” article of such tax treaty; 

(2) executed originals of IRS Form W-8ECI; 

(3) in the case of a Foreign Lender claiming the benefits of the exemption for portfolio interest under
Section 881(c) of the Code, (x) a certificate substantially in the form of Exhibit G-1 to the effect that such Foreign Lender is not a “bank” within the meaning of Section 881(c)(3)(A) of the Code, a “10 percent
shareholder” of the Borrower within the meaning of Section 881(c)(3)(B) of the Code, or a “controlled foreign corporation” described in Section 881(c)(3)(C) of the Code (a “U.S. Tax Compliance Certificate”)
and (y) executed originals of IRS Form W-8BEN; or 

  
 50 

 (4) to the extent a Foreign Lender is not the beneficial owner, executed
originals of IRS Form W-8IMY, accompanied by IRS Form W-8ECI, IRS Form W-8BEN, a U.S. Tax Compliance Certificate substantially in the form of Exhibit G-2 or Exhibit G-3, IRS Form W-9, and/or other certification documents from each
beneficial owner, as applicable; provided that if the Foreign Lender is a partnership and one or more direct or indirect partners of such Foreign Lender are claiming the portfolio interest exemption, such Foreign Lender may provide a U.S. Tax
Compliance Certificate substantially in the form of Exhibit G-4 on behalf of each such direct and indirect partner; 
 (C) any Foreign Lender shall, to the extent it is legally entitled to do so, deliver to the Borrower and the Administrative Agent (in such number of copies as shall be requested by the recipient) on or
prior to the date on which such Foreign Lender becomes a Lender under this Agreement (and from time to time thereafter upon the reasonable request of the Borrower or the Administrative Agent), executed originals of any other form prescribed by
applicable 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 Borrower or the Administrative
Agent to determine the withholding or deduction required to be made; and 
 (D) if a payment made to a Lender
under any Loan Document would be subject to U.S. federal withholding Tax imposed by FATCA if such Lender 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 Lender shall deliver to the Borrower and the Administrative Agent at the time or times prescribed by law and at such time or times reasonably requested by the Borrower or the Administrative 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 Borrower or the Administrative Agent as may be necessary for the Borrower and the
Administrative Agent to comply with their obligations under FATCA and to determine that such Lender has complied with such Lender’s obligations under FATCA or to determine the amount to deduct and withhold from such payment. Solely for purposes
of this clause (D), “FATCA” shall include any amendments made to FATCA after the date of this Agreement. 
 (ii) Each Lender agrees that if any form or certification it previously delivered pursuant to this Section 3.01 expires or becomes obsolete or inaccurate in any respect, it shall update such
form or certification or promptly notify the Borrower and the Administrative Agent in writing of its legal inability to do so. 

(f) Treatment of Certain Refunds. Unless required by applicable Laws, at no time shall the Administrative Agent have any
obligation to file for or otherwise pursue on behalf of a Lender or the Fronting Bank, or have any obligation to pay to any Lender or the Fronting Bank, any refund of Taxes withheld or deducted from funds paid for the account of such Lender or the
Fronting Bank, as the case may be. If any Recipient determines, in its reasonable discretion, that 

  
 51 

 
it has received a refund of any Taxes as to which it has been indemnified by the Borrower or with respect to which the Borrower has paid additional amounts pursuant to this
Section 3.01, it shall pay to the Borrower an amount equal to such refund (but only to the extent of indemnity payments made, or additional amounts paid, by the Borrower under this Section 3.01 with respect to the Taxes
giving rise to such refund), net of all out-of-pocket expenses (including Taxes) incurred by such Recipient, and without interest (other than any interest paid by the relevant Governmental Authority with respect to such refund), provided that
the Borrower, upon the request of the Recipient, agrees to repay the amount paid over to the Borrower (plus any penalties, interest or other charges imposed by the relevant Governmental Authority) to the Recipient in the event the Recipient is
required to repay such refund to such Governmental Authority. Notwithstanding anything to the contrary in this subsection, in no event will the applicable Recipient be required to pay any amount to the Borrower pursuant to this subsection the
payment of which would place the Recipient in a less favorable net after-Tax position than such Recipient would have been in if the indemnification payments or additional amounts giving rise to such refund had never been paid. This subsection shall
not be construed to require any Recipient to make available its tax returns (or any other information relating to its taxes that it deems confidential) to the Borrower or any other Person. 

(g) Survival. Each party’s obligations under this Section 3.01 shall survive the resignation or replacement of
the Administrative Agent or any assignment of rights by, or the replacement of, a Lender or the Fronting Bank, the termination of the Commitments and the repayment, satisfaction or discharge of all other Obligations. 

3.02 Illegality. If any Lender determines that any Law has made it unlawful, or that any Governmental Authority has asserted that
it is unlawful, for any Lender or its applicable Lending Office to make, maintain or fund Loans whose interest is determined by reference to the Eurodollar Rate, or to determine or charge interest rates based upon the Eurodollar Rate, or any
Governmental Authority has imposed material restrictions on the authority of such Lender to purchase or sell, or to take deposits of, Dollars in the London interbank market, then, on notice thereof by such Lender to the Borrower through the
Administrative Agent, (i) any obligation of such Lender to make or continue Eurodollar Rate Loans or to convert Base Rate Loans to Eurodollar Rate Loans shall be suspended, and (ii) if such notice asserts the illegality of such Lender
making or maintaining Base Rate Loans the interest rate on which is determined by reference to the Eurodollar Rate component of the Base Rate, the interest rate on which Base Rate Loans of such Lender shall, if necessary to avoid such illegality, be
determined by the Administrative Agent without reference to the Eurodollar Rate component of the Base Rate, in each case until such Lender notifies the Administrative Agent and the Borrower that the circumstances giving rise to such determination no
longer exist. Upon receipt of such notice, (x) the Borrower shall, upon demand from such Lender (with a copy to the Administrative Agent), prepay or, if applicable, convert all Eurodollar Rate Loans of such Lender to Base Rate Loans (the
interest rate on which Base Rate Loans of such Lender shall, if necessary to avoid such illegality, be determined by the Administrative Agent without reference to the Eurodollar Rate component of the Base Rate), either on the last day of the
Interest Period therefor, if such Lender may lawfully continue to maintain such Eurodollar Rate Loans to such day, or immediately, if such Lender may not lawfully continue to maintain such Eurodollar Rate Loans and (y) if such notice asserts
the illegality of such Lender determining or charging interest rates based upon the Eurodollar Rate, the Administrative Agent shall during the period of such suspension compute 

  
 52 

 
the Base Rate applicable to such Lender without reference to the Eurodollar Rate component thereof until the Administrative Agent is advised in writing by such Lender that it is no longer illegal
for such Lender to determine or charge interest rates based upon the Eurodollar Rate. Upon any such prepayment or conversion, the Borrower shall also pay accrued interest on the amount so prepaid or converted. 

3.03 Inability to Determine Rates. If the Required Lenders determine that for any reason in connection with any request for a
Eurodollar Rate Loan or a conversion to or continuation thereof that (a) Dollar deposits are not being offered to banks in the London interbank eurodollar market for the applicable amount and Interest Period of such Eurodollar Rate Loan,
(b) adequate and reasonable means do not exist for determining the Eurodollar Rate for any requested Interest Period with respect to a proposed Eurodollar Rate Loan or in connection with an existing or proposed Base Rate Loan, or (c) the
Eurodollar Rate for any requested Interest Period with respect to a proposed Eurodollar Rate Loan does not adequately and fairly reflect the cost to such Lenders of funding such Loan, the Administrative Agent will promptly so notify the Borrower and
each Lender. Thereafter, (x) the obligation of the Lenders to make or maintain Eurodollar Rate Loans shall be suspended, and (y) in the event of a determination described in the preceding sentence with respect to the Eurodollar Rate
component of the Base Rate, the utilization of the Eurodollar Rate component in determining the Base Rate shall be suspended, in each case until the Administrative Agent (upon the instruction of the Required Lenders) revokes such notice. Upon
receipt of such notice, the Borrower may revoke any pending request for a Borrowing of, conversion to or continuation of Eurodollar Rate Loans or, failing that, will be deemed to have converted such request into a request for a Borrowing of Base
Rate Loans in the amount specified therein. 
 3.04 Increased Costs; Reserves on Eurodollar Rate Loans. 

(a) Increased Costs Generally. If any Change in Law shall: 

(i) impose, modify or deem applicable any reserve, special deposit, compulsory loan, insurance charge or similar
requirement against assets of, deposits with or for the account of, or credit extended or participated in by, any Lender (except any reserve requirement contemplated by Section 3.04(e)) or the Fronting Bank; 

(ii) subject any Recipient to any Taxes (other than (A) Indemnified Taxes, (B) Taxes described in clauses
(b) through (d) of the definition of Excluded Taxes and (C) Connection Income Taxes) on its loans, loan principal, letters of credit, commitments, or other obligations, or its deposits, reserves, other liabilities or
capital attributable thereto; or 
 (iii) impose on any Lender or the Fronting Bank or the London interbank
market any other condition, cost or expense affecting this Agreement or Eurodollar Rate Loans made by such Lender or any Letter of Credit or participation therein other than with respect to Taxes, which shall be governed by Section 3.01;

 and the result of any of the foregoing shall be to increase the cost to such Lender of making, converting to, continuing, or maintaining any
Loan the interest on which is determined by 

  
 53 

 
reference to the Eurodollar Rate (or of maintaining its obligation to make any such Loan), or to increase the cost to such Lender or the Fronting Bank of participating in, issuing or maintaining
any Letter of Credit (or of maintaining its obligation to participate in or to issue any Letter of Credit), or to reduce the amount of any sum received or receivable by such Lender or the Fronting Bank hereunder (whether of principal, interest or
any other amount) then, upon request of such Lender or the Fronting Bank, the Borrower will pay to such Lender or the Fronting Bank, as the case may be, such additional amount or amounts as will compensate such Lender or the Fronting Bank, as the
case may be, for such additional costs incurred or reduction suffered. 
 (b) Capital Requirements. If any Lender or the
Fronting Bank determines that any Change in Law affecting such Lender or the Fronting Bank or any Lending Office of such Lender or such Lender’s or the Fronting Bank’s holding company, if any, regarding capital or liquidity requirements
has or would have the effect of reducing the rate of return on such Lender’s or the Fronting Bank’s capital or on the capital of such Lender’s or the Fronting Bank’s holding company, if any, as a consequence of this Agreement,
the Commitments of such Lender or the Loans made by, or participations in Letters of Credit held by, such Lender, or the Letters of Credit issued by the Fronting Bank, to a level below that which such Lender or the Fronting Bank or such
Lender’s or the Fronting Bank’s holding company could have achieved but for such Change in Law (taking into consideration such Lender’s or the Fronting Bank’s policies and the policies of such Lender’s or the Fronting
Bank’s holding company with respect to capital adequacy), then from time to time the Borrower will pay to such Lender or the Fronting Bank, as the case may be, such additional amount or amounts as will compensate such Lender or the Fronting
Bank or such Lender’s or the Fronting Bank’s holding company for any such reduction suffered. 
 (c) Certificates
for Reimbursement. A certificate of a Lender or the Fronting Bank setting forth the amount or amounts necessary to compensate such Lender or the Fronting Bank or its holding company, as the case may be, as specified in subsection (a) or
(b) of this Section 3.04 and delivered to the Borrower shall be conclusive absent manifest error. The Borrower shall pay such Lender or the Fronting Bank, as the case may be, the amount shown as due on any such certificate within 10
days after receipt thereof. 
 (d) Delay in Requests. Failure or delay on the part of any Lender or the Fronting Bank to
demand compensation pursuant to the foregoing provisions of this Section shall not constitute a waiver of such Lender’s or the Fronting Bank’s right to demand such compensation, provided that the Borrower shall not be required to
compensate a Lender or the Fronting Bank pursuant to the foregoing provisions of this Section for any increased costs incurred or reductions suffered more than nine months prior to the date that such Lender or the Fronting Bank, as the case may be,
notifies the Borrower of the Change in Law giving rise to such increased costs or reductions and of such Lender’s or the Fronting Bank’s intention to claim compensation therefor (except that, if the Change in Law giving rise to such
increased costs or reductions is retroactive, then the nine-month period referred to above shall be extended to include the period of retroactive effect thereof). 
 (e) Reserves on Eurodollar Rate Loans. The Borrower shall pay to each Lender, as long as such Lender shall be required to maintain reserves with respect to liabilities or assets consisting of or
including Eurocurrency funds or deposits (currently known as “Eurocurrency 

  
 54 

 
liabilities”), additional interest on the unpaid principal amount of each Eurodollar Rate Loan equal to the actual costs of such reserves allocated to such Loan by such Lender (as determined
by such Lender in good faith, which determination shall be conclusive), which shall be due and payable on each date on which interest is payable on such Loan, provided the Borrower shall have received at least 10 days’ prior notice (with
a copy to the Administrative Agent) of such additional interest from such Lender. If a Lender fails to give notice 10 days prior to the relevant Interest Payment Date, such additional interest shall be due and payable 10 days from receipt of such
notice. 
 3.05 Compensation for Losses. Upon demand of any Lender (with a copy to the Administrative Agent) from time to
time, the Borrower shall promptly compensate such Lender for and hold such Lender harmless from any loss, cost or expense incurred by it as a result of: 
 (a) any continuation, conversion, payment or prepayment of any Loan other than a Base Rate Loan on a day other than the last day of the Interest Period for such Loan (whether voluntary, mandatory,
automatic, by reason of acceleration, or otherwise); 
 (b) any failure by the Borrower (for a reason other than the failure of
such Lender to make a Loan) to prepay, borrow, continue or convert any Loan other than a Base Rate Loan on the date or in the amount notified by the Borrower; or 
 (c) any assignment of a Eurodollar Rate Loan on a day other than the last day of the Interest Period therefor as a result of a request by the Borrower pursuant to Section 10.13; 

including any loss of anticipated profits and any loss or expense arising from the liquidation or reemployment of funds obtained by it to maintain such
Loan or from fees payable to terminate the deposits from which such funds were obtained. The Borrower shall also pay any customary administrative fees charged by such Lender in connection with the foregoing. 

For purposes of calculating amounts payable by the Borrower to the Lenders under this Section 3.05, each Lender shall be deemed to have
funded each Eurodollar Rate Loan made by it at the Eurodollar Rate for such Loan by a matching deposit or other borrowing in the London interbank eurodollar market for a comparable amount and for a comparable period, whether or not such Eurodollar
Rate Loan was in fact so funded. 
 3.06 Mitigation Obligations; Replacement of Lenders. 

(a) Designation of a Different Lending Office. If any Lender requests compensation under Section 3.04, or requires the
Borrower to pay any Indemnified Taxes or additional amounts to any Lender, the Fronting Bank, any other Recipient or any Governmental Authority for the account of any Lender, the Fronting Bank or any other Recipient pursuant to
Section 3.01, or if any Lender gives a notice pursuant to Section 3.02, then at the request of the Borrower such Lender or the Fronting Bank shall, as applicable, use reasonable efforts to designate a different Lending Office
for funding or booking its Loans hereunder or to assign its rights and obligations hereunder to another of its offices, branches or affiliates, if, in the judgment of such Lender or the Fronting Bank, such designation or assignment (i) would
eliminate or reduce amounts payable pursuant to Section 3.01 or 3.04, as the case may be, in the future, or eliminate the need for the notice pursuant to Section 3.02, as applicable, and (ii) in each case, would
not 

  
 55 

 
subject such Lender, the Fronting Bank or any other Recipient, as the case may be, to any unreimbursed cost or expense and would not otherwise be disadvantageous to such Lender, the Fronting Bank
or other Recipient, as the case may be. The Borrower hereby agrees to pay all reasonable costs and expenses incurred by any Lender or the Fronting Bank in connection with any such designation or assignment. 

(b) Replacement of Lenders. If any Lender requests compensation under Section 3.04, or if the Borrower is required to
pay any Indemnified Taxes or additional amounts to any Lender or any Governmental Authority for the account of any Lender pursuant to Section 3.01 and, in each case, such Lender has declined or is unable to designate a different lending
office in accordance with Section 3.06(a), the Borrower may replace such Lender in accordance with Section 10.13. 
 3.07 Survival. All of the Borrower’s obligations under this Article III shall survive termination of the Aggregate Commitments, repayment of all other Obligations hereunder, and
resignation of the Administrative Agent. 
 ARTICLE IV 

CONDITIONS PRECEDENT TO CREDIT EXTENSIONS 
 4.01 Conditions of Initial Credit Extension. The obligation of the Fronting Bank and each Lender to make its initial Credit Extension hereunder is subject to satisfaction of the following
conditions precedent: 
 (a) The Administrative Agent’s receipt of the following, each of which shall be originals, PDF
copies or facsimiles (followed promptly by originals) unless otherwise specified, each properly executed by a Responsible Officer of the Borrower, each dated the Closing Date (or, in the case of certificates of governmental officials, a recent date
before the Closing Date) and each in form and substance satisfactory to the Administrative Agent and each of the Lenders: 
 (i) executed counterparts of this Agreement, sufficient in number for distribution to the Administrative Agent, each Lender and the Borrower; 

(ii) a Note executed by the Borrower in favor of each Lender requesting a Note; 

(iii) such certificates of resolutions or other action, incumbency certificates and/or other certificates of Responsible
Officers of the Borrower as the Administrative Agent may require evidencing the identity, authority and capacity of each Responsible Officer thereof authorized to act as a Responsible Officer in connection with this Agreement and the other Loan
Documents; 
 (iv) such documents and certifications as the Administrative Agent may reasonably require to
evidence that the Borrower is duly organized or formed, and that the Borrower is validly existing, in good standing and qualified to engage in business in each jurisdiction where its ownership, lease or operation of properties or the conduct of its
business requires such qualification, except to the extent that failure to do so could not reasonably be expected to have a Material Adverse Effect; 

  
 56 

 (v) favorable opinions of Dewey & LeBoeuf LLP, counsel to the
Borrower, and Elliot S. Orol, in-house counsel to the Borrower, addressed to the Administrative Agent and each Lender, as to the matters set forth in Exhibit E and such other matters concerning the Borrower and the Loan Documents as the
Required Lenders may reasonably request; 
 (vi) a certificate of a Responsible Officer of the Borrower either
(A) attaching copies of all consents, licenses and approvals required in connection with the execution, delivery and performance by the Borrower and the validity against the Borrower of the Loan Documents to which it is a party, and such
consents, licenses and approvals shall be in full force and effect, or (B) stating that no such consents, licenses or approvals are so required; 
 (vii) a certificate signed by a Responsible Officer of the Borrower certifying (A) that the conditions specified in Sections 4.02(a) and (b) have been satisfied, and
(B) that there has been no event or circumstance since the date of the Audited Financial Statements that has had or could be reasonably expected to have, either individually or in the aggregate, a Material Adverse Effect; 

(viii) each Material Insurance Subsidiary shall have an A- stable Financial Strength Rating; and 

(ix) such other assurances, certificates, documents, consents or opinions as the Administrative Agent, the Fronting Bank
or the Required Lenders reasonably may require. 
 (b) Any fees required to be paid on or before the Closing Date shall have
been paid. 
 (c) Unless waived by the Administrative Agent, the Borrower shall have paid all fees, charges and disbursements of
counsel to the Administrative Agent (directly to such counsel if requested by the Administrative Agent) to the extent invoiced prior to or on the Closing Date, plus such additional amounts of such fees, charges and disbursements as shall constitute
its reasonable estimate of such fees, charges and disbursements incurred or to be incurred by it through the closing proceedings (provided that such estimate shall not thereafter preclude a final settling of accounts between the Borrower and
the Administrative Agent). 
 (d) All loans, commitment fees, letter of credit fees, fronting fees and other fees and expenses
accrued through the Closing Date under the Existing Credit Agreement shall have been paid in full; it being understood that Loans borrowed on the Closing Date shall be applied to the loans outstanding on the Closing Date under the Existing Credit
Agreement through reallocation among the Lenders in accordance with the Applicable Percentages. 
 Without limiting the
generality of the provisions of the last paragraph of Section 9.03, for purposes of determining compliance with the conditions specified in this Section 4.01, each Lender that has signed this Agreement shall be deemed to have
consented to, approved or 

  
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accepted or to be satisfied with, each document or other matter required thereunder to be consented to or approved by or acceptable or satisfactory to a Lender unless the Administrative Agent
shall have received notice from such Lender prior to the proposed Closing Date specifying its objection thereto. 
 4.02
Conditions to all Credit Extensions. The obligation of each Lender to honor any Request for Credit Extension (other than a Loan Notice requesting only a conversion of Loans to the other Type, or a continuation of Eurodollar Rate Loans) is
subject to the following conditions precedent: 
 (a) The representations and warranties of the Borrower contained in Article
V or any other Loan Document, or which are contained in any document furnished at any time under or in connection herewith or therewith, shall be true and correct on and as of the date of such Credit Extension, except to the extent that such
representations and warranties specifically refer to an earlier date, in which case they shall be true and correct as of such earlier date, and except that for purposes of this Section 4.02, the representations and warranties contained
in subsections (a), (b) and (c) of Section 5.05 shall be deemed to refer to the most recent statements furnished pursuant to subsections (a) and (b), respectively, of
Section 6.01. 
 (b) No Default shall exist, or would result from such proposed Credit Extension or from the
application of the proceeds thereof. 
 (c) After giving effect to such Credit Extension, the Borrower will be in compliance
with Sections 7.10(a) and (b) calculated using pro forma estimates as of the date of such Credit Extension, rather than as of the end of the immediately preceding fiscal quarter. 

(d) The Administrative Agent and, if applicable, the Applicable Issuing Party shall have received a Request for Credit Extension in
accordance with the requirements hereof. 
 Each Request for Credit Extension (other than a Loan Notice requesting only a
conversion of Loans to the other Type or a continuation of Eurodollar Rate Loans) submitted by the Borrower shall be deemed to be a representation and warranty that the conditions specified in Sections 4.02(a), (b) and
(c) have been satisfied on and as of the date of the applicable Credit Extension. 
 ARTICLE V 

REPRESENTATIONS AND WARRANTIES 
 The Borrower represents and warrants to the Administrative Agent and the Lenders that: 
 5.01 Existence, Qualification and Power. The Borrower and each Subsidiary thereof (a) is duly organized or formed, validly existing and, as applicable, in good standing under the Laws of the
jurisdiction of its incorporation or organization, (b) has all requisite power and authority and all requisite governmental licenses, authorizations, consents and approvals to (i) own or lease its assets and carry on its business and
(ii) in the case of the Borrower, execute, deliver and perform its obligations under the Loan Documents, and (c) is duly qualified and is licensed and, as applicable, in good standing under the Laws of each jurisdiction where its
ownership, lease or operation of properties or the conduct of its business requires such qualification or license; except in each case referred to in subsection (b)(i) or (c), to the extent that failure to do so could not reasonably be
expected to have a Material Adverse Effect. 

  
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 5.02 Authorization; No Contravention. The execution, delivery and performance by the
Borrower of each Loan Document have been duly authorized by all necessary corporate or other organizational action, and do not and will not (a) contravene the terms of any of its Organization Documents; (b) conflict with or result in any
breach or contravention of, or the creation of any Lien under, or require any payment to be made under (i) any Contractual Obligation to which the Borrower is a party or affecting the Borrower or the properties of the Borrower or any of its
Subsidiaries or (ii) any order, injunction, writ or decree of any Governmental Authority or any arbitral award to which the Borrower or its property is subject; or (c) violate any Law. 

5.03 Governmental Authorization; Other Consents. No approval, consent, exemption, authorization, or other action by, or notice to,
or filing with, any Governmental Authority or any other Person is necessary or required in connection with the execution, delivery or performance by, or enforcement against, the Borrower of this Agreement or any other Loan Document. 

5.04 Binding Effect. This Agreement has been, and each other Loan Document, when delivered hereunder, will have been, duly
executed and delivered by the Borrower. This Agreement constitutes, and each other Loan Document when so delivered will constitute, a legal, valid and binding obligation of the Borrower, enforceable against the Borrower or any other party that is
party thereto in accordance with its terms. 
 5.05 Financial Statements; No Material Adverse Effect. 

(a) The Audited Financial Statements (i) were prepared in accordance with GAAP consistently applied throughout the period covered
thereby, except as otherwise expressly noted therein; (ii) fairly present the financial condition of the Borrower and its Subsidiaries as of the date thereof and their results of operations for the period covered thereby in accordance with GAAP
consistently applied throughout the period covered thereby, except as otherwise expressly noted therein; and (iii) show all material indebtedness and other liabilities, direct or contingent, of the Borrower and its Subsidiaries as of the date
thereof, including liabilities for taxes, material commitments and Indebtedness. 
 (b) Since the date of the Audited Financial
Statements, there has been no event or circumstance, either individually or in the aggregate, that has had or could reasonably be expected to have a Material Adverse Effect, except as noted in the Borrower’s public filings for the fiscal
quarters ended March 31, 2011, June 30, 2011 and September 30, 2011. 
 (c) The Statutory Financial
Statements listed on Schedule 5.05 and delivered to each Lender prior to the execution and delivery of this Agreement are the most recently filed Statutory Financial Statements filed by each Material Insurance Subsidiary, are complete and
correct in all material respects and present fairly in accordance with SAP the financial position of such Material Insurance Subsidiary for the period then ended and were in material compliance with applicable Law when filed. 

  
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 5.06 Litigation. There are no actions, suits, proceedings, claims or disputes pending
or, to the knowledge of the Borrower, threatened or contemplated, at law, in equity, in arbitration or before any Governmental Authority, by or against the Borrower or any of its Subsidiaries or against any of their properties or revenues that
(a) purport to affect or pertain to this Agreement or any other Loan Document, or any of the transactions contemplated hereby, or (b) except as specifically disclosed in Schedule 5.06, either individually or in the aggregate, if
determined adversely, could reasonably be expected to have a Material Adverse Effect. 
 5.07 No Default. Neither the
Borrower nor any Subsidiary is in default under or with respect to any Contractual Obligation that could, either individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. No Default has occurred and is continuing or
would result from the consummation of the transactions contemplated by this Agreement or any other Loan Document. 
 5.08
Ownership of Property; Liens. Each of the Borrower and each Subsidiary has good record and marketable title in fee simple to, or valid leasehold interests in, all real property necessary or used in the ordinary conduct of its business, except
for such defects in title as could not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. The property of the Borrower and its Subsidiaries is subject to no Liens, other than Liens permitted by
Section 7.01. 
 5.09 Insurance. The properties of the Borrower and its Subsidiaries are insured with
financially sound and reputable insurance companies not Affiliates of the Borrower, in such amounts, with such deductibles and covering such risks as are customarily carried by companies engaged in similar businesses and owning similar properties in
localities where the Borrower or the applicable Subsidiary operates. 
 5.10 Taxes. The Borrower and its Subsidiaries
have filed all Federal, state and other material tax returns and reports required to be filed, and have paid all material Federal, state and other material taxes, assessments, fees and other governmental charges levied or imposed upon them or their
properties, income or assets otherwise due and payable, except those which are being contested in good faith by appropriate proceedings diligently conducted and for which adequate reserves have been provided in accordance with GAAP. There is no
proposed tax assessment against the Borrower or any Subsidiary that would, if made, have a Material Adverse Effect. Neither the Borrower nor any Subsidiary thereof is party to any tax sharing agreement other than as disclosed on Schedule
5.10. 
 5.11 ERISA Compliance. 
 (a) Each Plan is in compliance in all material respects with the applicable provisions of ERISA, the Code and other Federal or state laws. Each Pension Plan that is intended to be a qualified plan under
Section 401(a) of the Code has received a favorable determination letter from the Internal Revenue Service to the effect that the form of such Plan is qualified under Section 401(a) of the Code and the trust related thereto has been
determined by the Internal Revenue Service to be exempt from federal income tax under Section 501(a) of the Code, or an application for such a letter is currently being processed by the Internal Revenue Service. To the best knowledge of the
Borrower, nothing has occurred that would prevent or cause the loss of such tax-qualified status. 

  
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 (b) There are no pending or, to the best knowledge of the Borrower, threatened claims,
actions or lawsuits, or action by any Governmental Authority, with respect to any Plan that could reasonably be expected to have a Material Adverse Effect. There has been no prohibited transaction or violation of the fiduciary responsibility rules
with respect to any Plan that has resulted or could reasonably be expected to result in a Material Adverse Effect. 
 (c) (i) No
ERISA Event has occurred, and neither the Borrower nor any ERISA Affiliate is aware of any fact, event or circumstance that could reasonably be expected to constitute or result in an ERISA Event with respect to any Pension Plan; (ii) the
Borrower and each ERISA Affiliate has met all applicable requirements under the Pension Funding Rules in respect of each Pension Plan, and no waiver of the minimum funding standards under the Pension Funding Rules has been applied for or obtained;
(iii) as of the most recent valuation date for any Pension Plan, the funding target attainment percentage (as defined in Section 430(d)(2) of the Code) is 60% or higher and neither the Borrower nor any ERISA Affiliate knows of any facts or
circumstances that could reasonably be expected to cause the funding target attainment percentage for any such plan to drop below 60% as of the most recent valuation date; (iv) neither the Borrower nor any ERISA Affiliate has incurred any
liability to the PBGC other than for the payment of premiums, and there are no premium payments which have become due that are unpaid; (v) neither the Borrower nor any ERISA Affiliate has engaged in a transaction that could be subject to
Section 4069 or Section 4212(c) of ERISA; and (vi) no Pension Plan has been terminated by the plan administrator thereof nor by the PBGC, and no event or circumstance has occurred or exists that could reasonably be expected to cause
the PBGC to institute proceedings under Title IV of ERISA to terminate any Pension Plan. 
 (d) Neither the Borrower nor any
ERISA Affiliate maintains or contributes to, or has any unsatisfied obligation to contribute to, or liability under, any active or terminated Pension Plan other than Pension Plans not otherwise prohibited by this Agreement. 

5.12 Subsidiaries; Equity Interests. As of the Closing Date, (a) the Borrower has no Subsidiaries other than those
specifically disclosed on Schedule 5.12 and such schedule correctly indicates which Subsidiaries are Insurance Subsidiaries, Material Insurance Subsidiaries and Material Parties, (b) all of the outstanding Equity Interests in such
Subsidiaries have been validly issued, are fully paid and non-assessable and are owned by the Person and in the amounts specified on Schedule 5.12 free and clear of all Liens and (c) the Borrower and its Subsidiaries have no equity
investments in any other corporation or entity which represent 10% or more of the total equity interests of such corporation or entity other than those specifically disclosed on Schedule 5.12. 

5.13 Margin Regulations; Investment Company Act. 
 (a) The Borrower is not engaged and will not engage, principally or as one of its important activities, in the business of purchasing or carrying margin stock (within the meaning of Regulation U issued by
the FRB), or extending credit for the purpose of purchasing or carrying margin stock. 

  
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 (b) The Borrower is not and is not required to be registered as an “investment
company” under the Investment Company Act of 1940. 
 5.14 Disclosure. The Borrower has disclosed to the
Administrative Agent and the Lenders (i) all material agreements, instruments and corporate or other restrictions to which it or any of its Subsidiaries is subject which, if the Borrower or any of its Subsidiaries were to default thereunder,
could reasonably be expected to result in a Material Adverse Effect and (ii) all other matters known to it, that, individually or in the aggregate, could reasonably be expected to result in a Material Adverse Effect. No report, financial
statement, certificate or other information furnished (whether in writing or orally) by or on behalf of the Borrower to the Administrative Agent or any Lender in connection with the transactions contemplated hereby and the negotiation of this
Agreement or delivered hereunder or under any other Loan Document (in each case, as modified or supplemented by other information so furnished) contains any material misstatement of fact or omits to state any material fact necessary to make the
statements therein, in the light of the circumstances under which they were made, not misleading; provided that, with respect to projected financial information, the Borrower represents only that such information was prepared in good faith
based upon assumptions believed to be reasonable at the time. 
 5.15 Compliance with Laws. The Borrower and each
Subsidiary thereof is in compliance in all material respects with the requirements of all Laws and all orders, writs, injunctions and decrees applicable to it or to its properties, except in such instances in which (a) such requirement of Law
or order, writ, injunction or decree is being contested in good faith by appropriate proceedings diligently conducted or (b) the failure to comply therewith, individually or in the aggregate, could not reasonably be expected to have a Material
Adverse Effect. 
 5.16 Taxpayer Identification Number. The Borrower’s true and correct U.S. taxpayer identification
number is set forth on Schedule 10.02. 
 5.17 Solvency. On the Closing Date, (a) the fair value of the
assets of the Borrower, at a fair valuation, will exceed its debts and liabilities, subordinated, contingent or otherwise; (b) the present fair value of the property of the Borrower will be greater than the amount that will be required to pay
the probable liability of their debts and other liabilities, subordinated, contingent or otherwise, as such debts and other liabilities become absolute and matured; (c) the Borrower will be able to pay its debts and liabilities, subordinated,
contingent or otherwise, as such debt and liabilities become absolute and matured; and (d) the Borrower will not have unreasonably small capital with which to conduct the business in which it is engaged as such business is now conducted and is
proposed to be conducted following the Closing Date. 

  
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 ARTICLE VI 
 AFFIRMATIVE COVENANTS 
 So long as any Lender shall have any Commitment
hereunder, any Loan or other Obligation hereunder shall remain unpaid or unsatisfied, or any Letter of Credit shall remain outstanding, the Borrower shall, and shall (except in the case of the covenants set forth in Sections 6.01,
6.02, and 6.03) cause each Subsidiary to: 
 6.01 Financial Statements. Deliver to the Administrative Agent
and each Lender, in form and detail satisfactory to the Administrative Agent and the Required Lenders: 
 (a) as soon as
available, but in any event within 90 days after the end of each fiscal year of the Borrower (commencing with the fiscal year ended December 31, 2011), a consolidated balance sheet of the Borrower and its Subsidiaries as at the end of such
fiscal year, and the related consolidated statements of income or operations, changes in shareholders’ equity, and cash flows for such fiscal year, setting forth in each case in comparative form the figures for the previous fiscal year, all in
reasonable detail and prepared in accordance with GAAP, audited and accompanied by a report and opinion of an independent certified public accountant of nationally recognized standing reasonably acceptable to the Required Lenders, which report and
opinion shall be prepared in accordance with generally accepted auditing standards and shall not be subject to any “going concern” or like qualification or exception or any qualification or exception as to the scope of such audit;

 (b) as soon as available, but in any event within 60 days after the end of each of the first three fiscal quarters of each
fiscal year of the Borrower (commencing with the fiscal quarter ended March 31, 2012), a consolidated balance sheet of the Borrower and its Subsidiaries as at the end of such fiscal quarter, the related consolidated statements of income or
operations for such fiscal quarter and for the portion of the Borrower’s fiscal year then ended, and the related consolidated statements of changes in shareholders’ equity, and cash flows for the portion of the Borrower’s fiscal year
then ended, in each case setting forth in comparative form, as applicable, the figures for the corresponding fiscal quarter of the previous fiscal year and the corresponding portion of the previous fiscal year, all in reasonable detail, certified by
the chief executive officer, chief financial officer, treasurer or controller of the Borrower as fairly presenting the financial condition, results of operations, shareholders’ equity and cash flows of the Borrower and its Subsidiaries in
accordance with GAAP, subject only to normal year-end audit adjustments and the absence of footnotes; and 
 (c) Within ten days
after the date filed with the Applicable Insurance Regulatory Authority (but in any event within 125 days after the end of each fiscal year of each Material Insurance Subsidiary), a copy of the Quarterly Statutory Statement or Annual Statement, as
applicable, of such Material Insurance Subsidiary for such period, if any, required by such Applicable Insurance Regulatory Authority to be filed, each of which Statutory Financial Statements delivered to be prepared in accordance with SAP and
accompanied by the certification of the chief financial officer or chief executive officer of such Material Insurance Subsidiary that such financial statement is complete and correct in all material respects and presents fairly in accordance with
SAP the financial position of such Material Insurance Subsidiary for the period then ended. 
 As to any information contained in materials
furnished pursuant to Section 6.02(c), the Borrower shall not be separately required to furnish such information under subsection (a) or (b) above, but the foregoing shall not be in derogation of the obligation of
the Borrower to furnish the information and materials described in subsection (a) and (b) above at the times specified therein. 

  
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 6.02 Certificates; Other Information. Deliver to the Administrative Agent and each
Lender, in form and detail satisfactory to the Administrative Agent and the Required Lenders: 
 (a) concurrently with the
delivery of the financial statements referred to in Sections 6.01(a) and (b) (commencing with the delivery of the financial statements for the fiscal quarter ended December 31, 2011) a duly completed Compliance
Certificate signed by a Responsible Officer of the Borrower (which delivery may, unless the Administrative Agent, or a Lender requests executed originals, be by electronic communication including fax or email and shall be deemed to be an original
authentic counterpart thereof for all purposes); 
 (b) promptly after any request by the Administrative Agent or any Lender,
copies of any detailed audit reports, management letters or recommendations submitted to the board of directors (or the audit committee of the board of directors) of the Borrower by independent accountants in connection with the accounts or books of
the Borrower or any Subsidiary, or any audit of any of them; 
 (c) promptly after the same are available, copies of each annual
report, proxy or financial statement or other report or communication sent to the stockholders of the Borrower, and copies of all annual, regular, periodic and special reports and registration statements which the Borrower may file or be required to
file with the SEC under Section 13 or 15(d) of the Securities Exchange Act of 1934, and not otherwise required to be delivered to the Administrative Agent pursuant hereto; 

(d) promptly, and in any event within five (5) Business Days after receipt thereof by the Borrower or any Subsidiary thereof, copies
of each notice or other correspondence received from the SEC (or comparable agency in any applicable non-U.S. jurisdiction) concerning any investigation or possible investigation or other inquiry by such agency regarding financial or other
operational results of the Borrower or any Subsidiary thereof; 
 (e) within five (5) Business Days of such notice, notice
of proposed or actual suspension, termination or revocation of any material license of any Material Insurance Subsidiary by any Applicable Regulatory Insurance Authority or of receipt of notice from any Applicable Regulatory Insurance Authority
notifying the Borrower or any Material Insurance Subsidiary of a hearing relating to such a suspension, termination or revocation, including any request by an Applicable Regulatory Insurance Authority which commits the Borrower or any Material
Insurance Subsidiary to take, or refrain from taking, any action or which otherwise materially and adversely affects the authority of the Borrower or any Material Insurance Subsidiary to conduct its business; 

(f) within five (5) Business Days of such notice, notice of any pending or threatened investigation or regulatory proceeding (other
than routine periodic investigations or reviews) by any Applicable Regulatory Insurance Authority concerning the business, practices or operations of the Borrower or any Material Insurance Subsidiary; 

(g) promptly, notice of any actual or, to the best of the Borrower’s knowledge, proposed material changes in the Insurance Code
governing the investment or dividend practices of any Material Insurance Subsidiary; 

  
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 (h) promptly, notice of any material change in the accounting or financial reporting
practices of the Borrower or any Material Insurance Subsidiary; and. 
 (i) promptly, such additional information regarding the
business, financial or corporate affairs of the Borrower or any Subsidiary, or compliance with the terms of the Loan Documents, as the Administrative Agent or any Lender may from time to time reasonably request. 

Documents required to be delivered pursuant to Section 6.01(a) or (b) or Section 6.02(c) (to the
extent any such documents are included in materials otherwise filed with the SEC) may be delivered electronically and if so delivered, shall be deemed to have been delivered on the date (i) on which the Borrower posts such documents, or
provides a link thereto on the Borrower’s website on the Internet at the website address listed on Schedule 10.02; or (ii) on which such documents are posted on the Borrower’s behalf on an Internet or intranet website, if any,
to which each Lender and the Administrative Agent have access (whether a commercial, third-party website or whether sponsored by the Administrative Agent); provided that: (i) the Borrower shall deliver paper copies of such documents to
the Administrative Agent or any Lender upon its request to the Borrower to deliver such paper copies until a written request to cease delivering paper copies is given by the Administrative Agent or such Lender and (ii) the Borrower shall notify
the Administrative Agent and each Lender (by facsimile or electronic mail) of the posting of any such documents and provide to the Administrative Agent by electronic mail electronic versions (i.e., soft copies) of such documents. The
Administrative Agent shall have no obligation to request the delivery of or to maintain paper copies of the documents referred to above, and in any event shall have no responsibility to monitor compliance by the Borrower with any such request by a
Lender for delivery, and each Lender shall be solely responsible for requesting delivery to it or maintaining its copies of such documents. 
 The Borrower hereby acknowledges that (a) the Administrative Agent and/or the Arranger will make available to the Lenders and the Fronting Bank materials and/or information provided by or on behalf
of the Borrower hereunder (collectively, “Borrower Materials”) by posting the Borrower Materials on Debt Domain, IntraLinks, Syndtrak or another similar electronic system (the “Platform”) and (b) certain of the
Lenders (each, a “Public Lender”) may have personnel who do not wish to receive material non-public information with respect to the Borrower or its Affiliates, or the respective securities of any of the foregoing, and who may be
engaged in investment and other market-related activities with respect to such Persons’ securities. The Borrower hereby agrees that (w) all Borrower Materials that are to be made available to Public Lenders shall be clearly and
conspicuously marked “PUBLIC” which, at a minimum, shall mean that the word “PUBLIC” shall appear prominently on the first page thereof; (x) by marking Borrower Materials “PUBLIC,” the Borrower shall be deemed to
have authorized the Administrative Agent, the Arranger, the Fronting Bank and the Lenders to treat such Borrower Materials as not containing any material non-public information with respect to the Borrower or its securities for purposes of United
States Federal and state securities laws (provided, however, that to the extent such Borrower Materials constitute Information, they shall be treated as set forth in Section 10.07); (y) all Borrower Materials
marked “PUBLIC” are permitted to be made available through a portion of the Platform designated “Public Side Information”; and (z) the Administrative Agent and the Arranger shall be entitled to treat any Borrower Materials
that are not marked “PUBLIC” as being suitable only for posting on a portion of the Platform not designated “Public Side Information.” 

  
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 6.03 Notices. Promptly notify the Administrative Agent and each Lender: 

(a) of the occurrence of any Default; 
 (b) of any matter that has resulted or could reasonably be expected to result in a Material Adverse Effect, including (i) breach or non-performance of, or any default under, a Contractual Obligation
of the Borrower or any Subsidiary; (ii) any dispute, litigation, investigation, proceeding or suspension between the Borrower or any Subsidiary and any Governmental Authority; or (iii) the commencement of, or any material development in,
any litigation or proceeding affecting the Borrower or any Subsidiary, including pursuant to any Environmental Laws; and 
 (c)
of the occurrence of any ERISA Event. 
 Each notice pursuant to this Section 6.03, shall be accompanied by a
statement of a Responsible Officer of the Borrower setting forth details of the occurrence referred to therein and stating what action the Borrower has taken and proposes to take with respect thereto. Each notice pursuant to
Section 6.03(a) shall describe with particularity any and all provisions of this Agreement and any other Loan Document that have been breached. 
 6.04 Payment of Obligations. Pay and discharge as the same shall become due and payable, all its obligations and liabilities, including (a) all material tax liabilities, assessments and
governmental charges or levies upon it or its properties or assets, unless the same are being contested in good faith by appropriate proceedings diligently conducted and adequate reserves in accordance with GAAP are being maintained by the Borrower
or such Subsidiary with respect to such liabilities; (b) all lawful claims which, if unpaid, would by law become a Lien upon its property; and (c) all Indebtedness, as and when due and payable, but subject to any subordination provisions
contained in any instrument or agreement evidencing such Indebtedness. 
 6.05 Preservation of Existence, Etc.
(a) Preserve, renew and maintain in full force and effect its legal existence and good standing under the Laws of the jurisdiction of its organization except in a transaction permitted by Section 7.03 or 7.04; (b) take
all reasonable action to maintain all rights, privileges, permits, licenses and franchises necessary or desirable in the normal conduct of its business, except to the extent that failure to do so could not reasonably be expected to have a Material
Adverse Effect; and (c) preserve or renew all of its registered patents, trademarks, trade names and service marks, the non-preservation of which could reasonably be expected to have a Material Adverse Effect. 

6.06 Maintenance of Properties. (a) Maintain, preserve and protect all of its material properties and equipment necessary in
the operation of its business in good working order and condition, ordinary wear and tear excepted; and (b) make all necessary repairs thereto and renewals and replacements thereof except where the failure to do so could not reasonably be
expected to have a Material Adverse Effect. 

  
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 6.07 Maintenance of Insurance. Maintain with financially sound and reputable
insurance companies not Affiliates of the Borrower, insurance with respect to its properties and business against loss or damage of the kinds customarily insured against by Persons engaged in the same or similar business, of such types and in such
amounts as are customarily carried under similar circumstances by such other Persons. 
 6.08 Compliance with Laws.
Comply in all material respects with the requirements of all Laws and all orders, writs, injunctions and decrees applicable to it or to its business or property, except in such instances in which (a) such requirement of Law or order, writ,
injunction or decree is being contested in good faith by appropriate proceedings diligently conducted; or (b) the failure to comply therewith could not reasonably be expected to have a Material Adverse Effect. 

6.09 Books and Records. (a) Maintain proper books of record and account, in which full, true and correct entries in
conformity with GAAP consistently applied shall be made of all financial transactions and matters involving the assets and business of the Borrower or such Subsidiary, as the case may be; and (b) maintain such books of record and account in
material conformity with all applicable requirements of any Governmental Authority having regulatory jurisdiction over the Borrower or such Subsidiary, as the case may be. 
 6.10 Inspection Rights. Permit representatives and independent contractors of the Administrative Agent and each Lender to visit and inspect any of its properties, to examine its corporate,
financial and operating records, and make copies thereof or abstracts therefrom, and to discuss its affairs, finances and accounts with its directors, officers, and independent public accountants, all at the expense of the Borrower and at such
reasonable times during normal business hours and as often as may be reasonably desired but no more than three times a year unless an Event of Default exists, upon reasonable advance notice to the Borrower; provided, however, that when
an Event of Default exists the Administrative Agent or any Lender (or any of their respective representatives or independent contractors) may do any of the foregoing at the expense of the Borrower at any time during normal business hours and without
advance notice. 
 6.11 Use of Proceeds. Use the proceeds of the Credit Extensions for general corporate purposes
(including acquisitions) not in contravention of any Law or of any Loan Document. 
 ARTICLE VII 

NEGATIVE COVENANTS 
 So long as any Lender shall have any Commitment hereunder, any Loan or other Obligation hereunder shall remain unpaid or unsatisfied, or any Letter of Credit shall remain outstanding, the Borrower,
without the prior written consent of the Required Lenders, shall not, nor shall it permit any Subsidiary to, directly or indirectly: 
 7.01 Liens. Create, incur, assume or suffer to exist any Lien upon any of its property, assets or revenues, whether now owned or hereafter acquired, other than the following: 

(a) Liens pursuant to any Loan Document; 

  
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 (b) Liens existing on the date hereof and listed on Schedule 7.01 and any renewals or
extensions thereof, provided that (i) the property covered thereby is not changed, (ii) the amount secured or benefited thereby is not increased except as contemplated by Section 7.02(b), (iii) the direct or any
contingent obligor with respect thereto is not changed, and (iv) any renewal or extension of the obligations secured or benefited thereby is permitted by Section 7.02(b); 

(c) Liens for taxes not yet due or which are being contested in good faith and by appropriate proceedings diligently conducted, if
adequate reserves with respect thereto are maintained on the books of the applicable Person in accordance with GAAP; 
 (d)
carriers’, warehousemen’s, mechanics’, materialmen’s, repairmen’s or other like Liens arising in the ordinary course of business which are not overdue for a period of more than 30 days or which are being contested in good
faith and by appropriate proceedings diligently conducted, if adequate reserves with respect thereto are maintained on the books of the applicable Person; 
 (e) pledges or deposits in the ordinary course of business in connection with workers’ compensation, unemployment insurance and other social security legislation, other than any Lien imposed by
ERISA; 
 (f) pledges or deposits to secure the performance of bids, trade contracts and leases (other than Indebtedness),
statutory obligations, surety and appeal bonds, performance bonds and other obligations of a like nature incurred in the ordinary course of business; 
 (g) easements, rights-of-way, restrictions and other similar encumbrances affecting real property which, in the aggregate, are not substantial in amount, and which do not in any case materially detract
from the value of the property subject thereto or materially interfere with the ordinary conduct of the business of the applicable Person; 
 (h) Liens securing judgments for the payment of money not constituting an Event of Default under Section 8.01(h); 
 (i) Liens securing Indebtedness permitted under Section 7.02(d); provided that (i) such Liens do not at any time encumber any property other than the property financed by such
Indebtedness and (ii) the Indebtedness secured thereby does not exceed the cost or fair market value, whichever is lower, of the property being acquired on the date of acquisition; 

(j) The filing of UCC financing statements as a precautionary measure in connection with operating leases; 

(k) Liens on deposit and securities accounts that are imposed by law or account opening documents; 

(l) Liens on invested assets pursuant to trust or other security arrangements in connection with reinsurance policies or regulatory
requirements (for insurance licensing purposes); 

  
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 (m) Liens not otherwise permitted under this Section 7.01 securing Indebtedness
provided that the amount of the Indebtedness secured thereby does not exceed $35,000,000 at any time; 
 (n) Liens on investment
portfolio assets to secure Indebtedness permitted under Section 7.02 (g); and 
 (o) the federal tax Lien dated
March 23, 2011 filed against Tower Insurance Company of New York; provided that such Lien shall be paid or otherwise resolved within 60 days of the Closing Date; 
 provided, however, that no Lien shall be permitted to exist on the Equity Interest in any Insurance Subsidiary. 
 7.02 Indebtedness. Create, incur, assume or suffer to exist any Indebtedness of the Borrower’s Subsidiaries, except: 
 (a) Indebtedness under the Loan Documents; 
 (b) Indebtedness outstanding on the
date hereof and listed on Schedule 7.02; 
 (c) obligations (contingent or otherwise) existing or arising under any Swap
Contract, provided that (i) such obligations are (or were) entered into by such Person in the ordinary course of business for the purpose of directly mitigating risks associated with liabilities, commitments, investments, assets, or
property held or reasonably anticipated by such Person, or changes in the value of securities issued by such Person, and not for purposes of speculation or taking a “market view”; and (ii) such Swap Contract does not contain any
provision exonerating the non-defaulting party from its obligation to make payments on outstanding transactions to the defaulting party; 
 (d) Indebtedness in respect of capital leases and purchase money obligations for fixed or capital assets within the limitations set forth in Section 7.01(i); provided, however,
that the aggregate amount of all such Indebtedness at any one time outstanding shall not exceed $50,000,000; 
 (e) unsecured
Indebtedness in an aggregate principal amount not to exceed $35,000,000 at any time outstanding; 
 (f) Indebtedness owed by any
Subsidiary to the Borrower or any of its Subsidiaries; and 
 (g) Indebtedness not to exceed $126,200,000 at any time for
secured letters of credit (including letters of credit issued to secure reinsurance policies issued to, or issued to a reinsurer of, a Lloyd’s syndicate and letters of credit issued for general corporate insurance purposes). 

7.03 Fundamental Changes. Merge, dissolve, liquidate, consolidate with or into another Person, or make any Acquisition except
that, so long as no Default exists or would result therefrom: 
 (a) any Subsidiary may merge with (i) the Borrower,
provided that the Borrower shall be the continuing or surviving Person, or (ii) any one or more other Subsidiaries, provided that (A) when any Wholly-Owned Subsidiary is merging with another Subsidiary, the Wholly-Owned
Subsidiary shall be the continuing or surviving Person and (B) if either of the Subsidiaries is directly owned by the Borrower, the surviving entity must be directly owned by the Borrower; 

  
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 (b) the Borrower may merge, consolidate or amalgamate with another Person (i) provided
the surviving company is organized in the United States or (ii) in connection with a redomestication of the Borrower to Bermuda or the United Kingdom provided that after giving effect to such redomestication the management team and board of
directors of the surviving entity are substantially the same as prior to such redomestication, and in each case (A) the merger, consolidation or amalgamation is not a hostile takeover, (B) the surviving entity (or, if an amalgamation, the
amalgamated entity) shall be liable for the Borrower’s obligations, and (C) the Administrative Agent shall have received such documents, certificates and opinions in connection with such merger, amalgamation or consolidation affirming the
effectiveness of this Agreement and the other Loan Documents and the liability of the surviving entity (including, in the case of an amalgamation, the amalgamated entity) for the Obligations as it shall have reasonably requested; 

(c) any Subsidiary may merge, consolidate or amalgamate with another Person provided (i) if the merger, consolidation or
amalgamation involves an Insurance Subsidiary, restrictions on dividends in the jurisdiction of the surviving company shall not be less favorable than such restrictions in the jurisdiction of such Insurance Subsidiary, (ii) if any Wholly-Owned
Subsidiary is merging, consolidating or amalgamating with another Person, the surviving company shall continue to be a Wholly-Owned Subsidiary after such merger, consolidation or amalgamation; and (iii) the merger, consolidation or amalgamation
is not a hostile takeover; 
 (d) any Subsidiary may Dispose of all or any or substantially all of its assets (upon voluntary
liquidation or otherwise) to one or more of the Borrower or other Subsidiaries; provided that if the transferor in such a transaction is a Wholly-Owned Subsidiary, then the transferees must either be the Borrower or one or more Wholly-Owned
Subsidiaries; and 
 (e) the Borrower or any Subsidiary may make Acquisitions. 

7.04 Dispositions. Make any Disposition or enter into any agreement to make any Disposition, except: 

(a) Dispositions of obsolete or worn out property, whether now owned or hereafter acquired, in the ordinary course of business;

 (b) Dispositions of the investment portfolio in the ordinary course of business; 

(c) Dispositions of equipment or real property to the extent that (i) such property is exchanged for credit against the purchase
price of similar replacement property or (ii) the proceeds of such Disposition are reasonably promptly applied to the purchase price of such replacement property; 

  
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 (d) Dispositions of property by any Subsidiary to the Borrower or to a Wholly-Owned
Subsidiary; 
 (e) Dispositions permitted by Section 7.03; and 

(f) Dispositions by the Borrower and its Subsidiaries not otherwise permitted under this Section 7.04; provided that
(i) at the time of such Disposition, no Default shall exist or would result from such Disposition and (ii) the aggregate book value of all property Disposed of in reliance on this subsection (f) in any fiscal year shall not
exceed 10% of Consolidated Net Worth. 
 7.05 Restricted Payments. Declare or make, directly or indirectly, any
Restricted Payment, or incur any obligation (including contingent or otherwise) to do so (other than those permitted under Section 7.03(d) or Section 7.04(d)) except that so long as no Default shall have occurred and be
continuing at the time of any action described below or would result therefrom: 
 (a) each Subsidiary (which for this purpose
includes any trust or trusts formed for the purposes of issuing trust preferred securities) may make Restricted Payments to the Borrower and any other Person that owns an Equity Interest in such Subsidiary, ratably according to their respective
holdings of the type of Equity Interest in respect of which such Restricted Payment is being made; 
 (b) the Borrower and each
Subsidiary may declare and make dividend payments or other distributions payable in the common stock or other common Equity Interests of such Person; 
 (c) the Borrower and each Subsidiary may purchase, redeem or otherwise acquire Equity Interests issued by it with the proceeds received from the substantially concurrent issuance of new shares of its
common stock or other common Equity Interests (other than proceeds received from any substantially concurrent sale of Warrants); 
 (d) the Borrower may declare and pay or make dividends (including cash dividends), stock repurchases and distributions; 
 (e) the Borrower and any Subsidiary may make any payment (even if such payment is in the form of a Restricted Payment) to the Borrower or another Subsidiary that is required to be made with respect to or
in connection with the terms of any Tax sharing, Tax allocation or other similar Tax arrangement or agreement entered into among the Borrower and its Subsidiaries; 
 (f) the Borrower may enter into any Call Options and Warrants and may make any payment in connection with entry by the Borrower into any Call Options; provided that any other Restricted Payment to be made
in connection with any Call Options and Warrants may only be made to the extent otherwise permitted by this Section 7.05 at the time such Restricted Payment is made; 

  
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 (g) the Borrower may make any payment in Equity Interests of the Borrower in settlement of
any Warrant or in satisfaction of any obligation of the Borrower in connection with the termination, cancellation or early unwind of any Warrant; and 
 (h) the Borrower may make any other payment in satisfaction of any obligation of the Borrower in connection with the termination, cancellation or early unwind of any Warrant, but only to the extent that
the amount of such payment is less than or equal to the amount of any substantially concurrent payment or payments received by the Borrower in connection with the termination, cancellation or early unwind of any Call Option. 

7.06 Change in Nature of Business; Hedging. Engage in any material business substantially different from those businesses
conducted by the Borrower and its Subsidiaries on the date hereof or any business substantially related or incidental thereto or engage in speculative hedging other than in accordance with the Borrower’s investment policy approved by the
Investment Committee of the Borrower’s Board of Directors from time to time; provided that, entry into or performance by the Borrower of its obligations under any Call Options and Warrants in respect of any Convertible Securities shall not
constitute speculative hedging by the Borrower. 
 7.07 Transactions with Affiliates. Enter into any transaction of any
kind with any Affiliate of the Borrower, whether or not in the ordinary course of business, other than on fair and reasonable terms substantially as favorable to the Borrower or such Subsidiary as would be obtainable by the Borrower or such
Subsidiary at the time in a comparable arm’s length transaction with a Person other than an Affiliate, provided that the foregoing restriction shall not apply to transactions between or among the Borrower and any of its Wholly-Owned
Subsidiaries or between and among any Wholly-Owned Subsidiaries. 
 7.08 Burdensome Agreements. Enter into any
Contractual Obligation (other than this Agreement or any other Loan Document) that (a) limits the ability (i) of any Subsidiary to make Restricted Payments to the Borrower, to make loans, or to otherwise transfer property to the Borrower
or any other Subsidiary, (ii) of any Subsidiary to Guarantee or grant Liens to secure Indebtedness of the Borrower or (iii) of the Borrower to grant Liens to secure the Obligations; (b) requires the grant of a Lien to secure, or the
Guarantee of, an obligation of such Person if a Lien is granted to secure, or a Guarantee is made of, another obligation of such Person; or (c) would be breached by compliance with the provisions of the Loan Documents; provided,
however, that this Section shall not prohibit such limitations existing under or by reason of (A) applicable Law, (B) this Agreement or any other Loan Document, (C) customary provisions restricting subletting or assignment in
any lease governing any leasehold interest of the Borrower or any of its Subsidiaries, (D) customary provisions restricting assignment in any licensing agreement (in which the Borrower or any of its Subsidiaries is the licensee) entered into by
the Borrower or any of its Subsidiaries in the ordinary course of business, (E) restrictions and conditions on the transfer of or granting of a Lien on any asset subject to a Lien permitted by Section 7.01 solely to the extent any
such negative pledge relates to the property financed by or the subject of such Indebtedness, (F) restrictions and conditions on the transfer of any asset pending the close of the sale of such asset, (G) agreements entered into by an
Insurance Subsidiary with any Applicable Insurance Regulatory Authority, or (H) any Tax sharing, Tax allocation, or other similar Tax arrangement or agreement entered into among the Borrower and its Subsidiaries. 

  
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 7.09 Use of Proceeds. Use the proceeds of any Credit Extension, whether directly or
indirectly, and whether immediately, incidentally or ultimately, to purchase or carry margin stock (within the meaning of Regulation U of the FRB) or to extend credit to others for the purpose of purchasing or carrying margin stock or to refund
indebtedness originally incurred for such purpose. 
 7.10 Financial Covenants. 

(a) Consolidated Net Worth. Permit Consolidated Net Worth as of the end of any fiscal quarter to be less than the sum of
(i) $760,000,000, (ii) an amount equal to 50% of the Consolidated Net Income earned in each full fiscal quarter ending after September 30, 2011 (with no deduction for a net loss in any such fiscal quarter) and (iii) an amount
equal to 50% of the aggregate increases in Consolidated Net Worth of the Borrower and its Subsidiaries after the date hereof by reason of the issuance and sale of Equity Interests of the Borrower or any Subsidiary (other than issuances to the
Borrower or a Wholly-Owned Subsidiary), including upon any conversion of debt securities of the Borrower (including Convertible Securities) into, and the exercise of any warrants issued by the Borrower with respect to, Equity Interests of the
Borrower. 
 (b) Debt to Capitalization Ratio. Permit the Debt to Capitalization Ratio as of the end of any fiscal
quarter to be greater than 0.35:1.0. 
 (c) Minimum Risk-Based Capital. Permit the Risk Based Capital Ratio of Tower
Insurance Company of New York as of any fiscal year end to be less than 175%. 
 (d) Minimum Statutory Surplus. Permit
the Statutory Surplus of any Material Insurance Subsidiary as of the end of any fiscal quarter to be less than the amount set forth opposite such Material Insurance Subsidiary’s name on Schedule 7.10, as such Schedule is amended pursuant
to any Compliance Certificate in connection with the addition of a new Material Insurance Subsidiary. If a Subsidiary becomes a Material Insurance Subsidiary after the Closing Date, the minimum Statutory Surplus for such new Material Insurance
Subsidiary shall be an amount equal to 75% of such Subsidiary’s Statutory Surplus as of the fiscal quarter end in which it became a Material Insurance Subsidiary. 
 7.11 Investments in Reciprocal Insurers. To (i) make any loans to or purchase or redeem any Equity Interests in, (ii) incur contingent liabilities or otherwise provide credit support
(including granting a Lien on any of its assets) for the Indebtedness of, or (iii) enter into any net worth maintenance agreements with respect to, any Reciprocal Insurer except as required pursuant to the Surplus Note Agreements, provided that
the amount of any such loans made after the date hereof shall not exceed $30,000,000. 

  
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 ARTICLE VIII 
 EVENTS OF DEFAULT AND REMEDIES 
 8.01 Events of Default. Any of the
following shall constitute an Event of Default: 
 (a) Non-Payment. The Borrower fails to pay (i) when and as
required to be paid herein, any amount of principal of any Loan or any L/C Obligation, or (ii) within three days after the same becomes due, any interest on any Loan or on any L/C Obligation, or any fee due hereunder, or (iii) within five
days after the same becomes due, any other amount payable hereunder or under any other Loan Document; or 
 (b) Specific
Covenants. The Borrower fails to perform or observe any term, covenant or agreement contained in any of Section 6.01, 6.02, 6.03, 6.05, or Article VII; or 

(c) Other Defaults. The Borrower fails to perform or observe any other covenant or agreement (not specified in subsection
(a) or (b) above) contained in any Loan Document on its part to be performed or observed and such failure continues for 30 days; or 
 (d) Representations and Warranties. Any representation, warranty, certification or statement of fact made or deemed made by or on behalf of the Borrower or any Subsidiary herein, in any other Loan
Document, or in any document delivered in connection herewith or therewith shall be incorrect or misleading in any material respect when made or deemed made; or 
 (e) Cross-Default. (i) The Borrower or any Material Party (A) fails to make any payment when due (whether by scheduled maturity, required prepayment, acceleration, demand, or otherwise)
in respect of any Indebtedness or Guarantee (other than Indebtedness hereunder and Indebtedness under Swap Contracts) having an aggregate principal amount (including undrawn committed or available amounts and including amounts owing to all creditors
under any combined or syndicated credit arrangement) of more than the Threshold Amount, or (B) fails to observe or perform any other agreement or condition relating to any such Indebtedness or Guarantee or contained in any instrument or
agreement evidencing, securing or relating thereto, or any other event occurs, the effect of which default or other event is to cause, or to permit the holder or holders of such Indebtedness or the beneficiary or beneficiaries of such Guarantee (or
a trustee or agent on behalf of such holder or holders or beneficiary or beneficiaries) to cause, with the giving of notice if required, such Indebtedness to be demanded or to become due or to be repurchased, prepaid, defeased or redeemed
(automatically or otherwise), or an offer to repurchase, prepay, defease or redeem such Indebtedness to be made, prior to its stated maturity, or such Guarantee to become payable or cash collateral in respect thereof to be demanded; provided that if
any event occurs that permits a holder of Convertible Securities to convert its Convertible Securities prior to the maturity thereof, and the Borrower has the right to settle conversions thereof by paying or delivering, as the case may be, cash,
shares of the Borrower’s common stock or a combination thereof, such event and any such conversion shall not be deemed to be an event covered by this clause (B); or (ii) there occurs under any Swap Contract an Early Termination Date
(as defined in such Swap Contract) resulting from (A) any event of default under such Swap Contract as to which the Borrower or any Material Party is the Defaulting Party (as defined in such Swap Contract) or (B) any Termination Event (as
so 

  
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defined) under such Swap Contract as to which the Borrower or any Material Party is an Affected Party (as so defined) and, in either event, the Swap Termination Value owed by the Borrower or such
Subsidiary as a result thereof is greater than the Threshold Amount; provided that this clause (ii) shall not apply to any such Early Termination Date under any Warrants to the extent that payment by the Borrower of any amount owed by
the Borrower as a result thereof would constitute a Restricted Payment that is permitted under Section 7.05(g) or (h); or 
 (f) Insolvency Proceedings, Etc. The Borrower or any Material Party institutes or consents to the institution of any proceeding under any Debtor Relief Law, or makes an assignment for the benefit
of creditors; or applies for or consents to the appointment of any receiver, trustee, custodian, conservator, liquidator, rehabilitator or similar officer for it or for all or any material part of its property; or any receiver, trustee, custodian,
conservator, liquidator, rehabilitator or similar officer is appointed without the application or consent of such Person and the appointment continues undischarged or unstayed for 60 calendar days; or any proceeding under any Debtor Relief Law
relating to any such Person or to all or any material part of its property is instituted without the consent of such Person and continues undismissed or unstayed for 60 calendar days, or an order for relief is entered in any such proceeding; or

 (g) Inability to Pay Debts; Attachment. (i) The Borrower or any Material Party becomes unable or admits in
writing its inability or fails generally to pay its debts as they become due, or (ii) any writ or warrant of attachment or execution or similar process is issued or levied against all or any material part of the property of any such Person and
is not released, vacated or fully bonded within 30 days after its issue or levy; or 
 (h) Judgments. There is entered
against (i) the Borrower or any Material Party one or more final judgments or orders for the payment of money in an aggregate amount (as to all such judgments or orders) exceeding the Threshold Amount (to the extent not covered by independent
third-party insurance as to which the insurer does not dispute coverage), or (ii) the Borrower or any Material Party any one or more non-monetary final judgments that have, or could reasonably be expected to have, individually or in the
aggregate, a Material Adverse Effect and, in either case, (A) enforcement proceedings are commenced by any creditor upon such judgment or order, or (B) there is a period of 10 consecutive days during which a stay of enforcement of such
judgment, by reason of a pending appeal or otherwise, is not in effect; or 
 (i) ERISA. (i) An ERISA Event occurs
with respect to a Pension Plan or Multiemployer Plan which has resulted or could reasonably be expected to result in liability of the Borrower under Title IV of ERISA to the Pension Plan, Multiemployer Plan or the PBGC in an aggregate amount in
excess of the Threshold Amount, or (ii) the Borrower or any ERISA Affiliate fails to pay when due, after the expiration of any applicable grace period, any installment payment with respect to its withdrawal liability under Section 4201 of
ERISA under a Multiemployer Plan in an aggregate amount in excess of the Threshold Amount; or 
 (j) Invalidity of Loan
Documents. Any Loan Document, at any time after its execution and delivery and for any reason other than as expressly permitted hereunder or thereunder or satisfaction in full of all the Obligations, ceases to be in full force and effect; or the
Borrower or any other Person contests in any manner the validity or enforceability of any Loan Document; or the Borrower denies that it has any or further liability or obligation under any Loan Document, or purports to revoke, terminate or rescind
any Loan Document; or 

  
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 (k) Change of Control. There occurs any Change of Control; or 

(l) Change in Law. Any change is made in any Insurance Code which affects the dividend practices of any Insurance Subsidiary and
which is reasonably likely to have a Material Adverse Effect on the ability of the Borrower to perform its obligations under the Agreement and such circumstances shall continue for 120 days; or 

(m) Insurance License. Any insurance license of the Borrower or any Material Party is suspended, limited, terminated or not
renewed which could reasonably be expected to have a Material Adverse Effect. 
 8.02 Remedies Upon Event of Default. If
any Event of Default occurs and is continuing, the Administrative Agent shall, at the request of, or may, with the consent of, the Required Lenders, take any or all of the following actions: 

(a) declare the commitment of each Lender to make Loans and L/C Credit Extensions and any obligation of the L/C Issuers to make L/C
Credit Extensions to be terminated, whereupon such commitments and obligation shall be terminated; 
 (b) declare the unpaid
principal amount of all outstanding Loans, all interest accrued and unpaid thereon, and all other amounts owing or payable hereunder or under any other Loan Document to be immediately due and payable, without presentment, demand, protest or other
notice of any kind, all of which are hereby expressly waived by the Borrower; 
 (c) require that the Borrower Cash
Collateralize the L/C Obligations (in an amount equal to the then Outstanding Amount thereof); and 
 (d) exercise on behalf of
itself, the Lenders and the L/C Issuers all rights and remedies available to it, the Lenders and the Fronting Bank under the Loan Documents; 

provided, however, that upon the occurrence of an actual or deemed entry of an order for relief with respect to the Borrower under any
Debtor Relief Law, the obligation of each Lender to make Loans and L/C Credit Extensions and any obligation of the Fronting Bank to make L/C Credit Extensions shall automatically terminate, the unpaid principal amount of all outstanding Loans and
all interest and other amounts as aforesaid shall automatically become due and payable, and the obligation of the Borrower to Cash Collateralize the L/C Obligations as aforesaid shall automatically become effective, in each case without further act
of the Administrative Agent or any Lender. 
 8.03 Application of Funds. After the exercise of remedies provided for in
Section 8.02 (or after the Loans have automatically become immediately due and payable and the L/C Obligations have automatically been required to be Cash Collateralized as set forth in the proviso to Section 8.02), any
amounts received on account of the Obligations shall, subject to the provisions of Sections 2.14 and 2.15, be applied by the Administrative Agent in the following order: 

First, to payment of that portion of the Obligations constituting fees, indemnities, expenses and other amounts (including fees,
charges and disbursements of counsel to the Administrative Agent and amounts payable under Article III) payable to the Administrative Agent in its capacity as such; 

  
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 Second, to payment of that portion of the Obligations constituting fees, indemnities
and other amounts (other than principal, interest and Letter of Credit Fees) payable to the Lenders and the Fronting Bank (including fees, charges and disbursements of counsel to the respective Lenders and the Fronting Bank and amounts payable under
Article III), ratably among them in proportion to the respective amounts described in this clause Second payable to them; 
 Third, to payment of that portion of the Obligations constituting accrued and unpaid Letter of Credit Fees and interest on the Loans, L/C Borrowings and other Obligations, ratably among the Lenders
and the Fronting Bank in proportion to the respective amounts described in this clause Third payable to them; 

Fourth, to payment of that portion of the Obligations constituting unpaid principal of the Loans and L/C Borrowings, ratably among
the Lenders and the Fronting Bank in proportion to the respective amounts described in this clause Fourth held by them; 

Fifth, to the Administrative Agent for the account of the Fronting Bank and the Lenders, to Cash Collateralize that portion of L/C
Obligations comprised of the aggregate undrawn amount of Letters of Credit to the extent not otherwise Cash Collateralized by the Borrower pursuant to Sections 2.04 and 2.14; and 

Last, the balance, if any, after all of the Obligations have been indefeasibly paid in full, to the Borrower or as otherwise
required by Law. 
 Subject to Sections 2.03(c) and 2.14, amounts used to Cash Collateralize the aggregate undrawn amount of Letters of
Credit pursuant to clause Fifth above shall be applied to satisfy drawings under such Letters of Credit as they occur. If any amount remains on deposit as Cash Collateral after all Letters of Credit have either been fully drawn or expired,
such remaining amount shall be applied to the other Obligations, if any, in the order set forth above. 
 ARTICLE IX

 ADMINISTRATIVE AGENT 
 9.01 Appointment and Authority. Each of the Lenders and the Fronting Bank hereby irrevocably appoints Bank of America to act on its behalf as the Administrative Agent hereunder and under the other
Loan Documents and authorizes the Administrative Agent to take such actions on its behalf and to exercise such powers as are delegated to the Administrative Agent by the terms hereof or thereof, together with such actions and powers as are
reasonably incidental thereto. The provisions of this Article are solely for the benefit of the Administrative Agent, the Lenders and the Fronting Bank, and the Borrower shall not have rights as a third party beneficiary of any of such provisions.
It is understood and agreed that the use of the term “agent” herein or in any other Loan Documents (or any other similar term) with reference to the Administrative Agent is not intended to connote any fiduciary or other implied (or
express) obligations arising under agency doctrine of any applicable Law. Instead such term is used as a matter of market custom, and is intended to create or reflect only an administrative relationship between contracting parties. 

  
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 9.02 Rights as a Lender. The Person serving as the Administrative Agent hereunder
shall have the same rights and powers in its capacity as a Lender as any other Lender and may exercise the same as though it were not the Administrative Agent and the term “Lender” or “Lenders” shall, unless otherwise expressly
indicated or unless the context otherwise requires, include the Person serving as the Administrative Agent hereunder in its individual capacity. Such Person and its Affiliates may accept deposits from, lend money to, own securities of, act as the
financial advisor or in any other advisory capacity for and generally engage in any kind of business with the Borrower or any Subsidiary or other Affiliate thereof as if such Person were not the Administrative Agent hereunder and without any duty to
account therefor to the Lenders. 
 9.03 Exculpatory Provisions. The Administrative Agent shall not have any duties or
obligations except those expressly set forth herein and in the other Loan Documents, and its duties hereunder shall be administrative in nature. Without limiting the generality of the foregoing, the Administrative Agent: 

(a) shall not be subject to any fiduciary or other implied duties, regardless of whether a Default has occurred and is
continuing; 
 (b) shall not have any duty to take any discretionary action or exercise any discretionary powers,
except discretionary rights and powers expressly contemplated hereby or by the other Loan Documents that the Administrative Agent is required to exercise as directed in writing by the Required Lenders (or such other number or percentage of the
Lenders as shall be expressly provided for herein or in the other Loan Documents), provided that the Administrative Agent shall not be required to take any action that, in its opinion or the opinion of its counsel, may expose the
Administrative Agent to liability or that is contrary to any Loan Document or applicable law, including for the avoidance of doubt any action that may be in violation of the automatic stay under any Debtor Relief Law or that may effect a forfeiture,
modification or termination of property of a Defaulting Lender in violation of any Debtor Relief Law; and 
 (c)
shall not, except as expressly set forth herein and in the other Loan Documents, have any duty to disclose, and shall not be liable for the failure to disclose, any information relating to the Borrower or any of its Affiliates that is communicated
to or obtained by the Person serving as the Administrative Agent or any of its Affiliates in any capacity. 
 The Administrative
Agent shall not be liable for any action taken or not taken by it (i) with the consent or at the request of the Required Lenders (or such other number or percentage of the Lenders as shall be necessary, or as the Administrative Agent shall
believe in good faith shall be necessary, under the circumstances as provided in Sections 10.01 and 8.02) or (ii) in the absence of its own gross negligence or willful misconduct as determined by a court of competent jurisdiction
by final and nonappealable judgment. The Administrative Agent shall be deemed not to have knowledge of any Default unless and until notice describing such Default is given in writing to the Administrative Agent by the Borrower, a Lender or the
Fronting Bank. 

  
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 The Administrative Agent shall not be responsible for or have any duty to ascertain or
inquire into (i) any statement, warranty or representation made in or in connection with this Agreement or any other Loan Document, (ii) the contents of any certificate, report or other document delivered hereunder or thereunder or in
connection herewith or therewith, (iii) the performance or observance of any of the covenants, agreements or other terms or conditions set forth herein or therein or the occurrence of any Default, (iv) the validity, enforceability,
effectiveness or genuineness of this Agreement, any other Loan Document or any other agreement, instrument or document or (v) the satisfaction of any condition set forth in Article IV or elsewhere herein, other than to confirm receipt of
items expressly required to be delivered to the Administrative Agent. 
 9.04 Reliance by Administrative Agent. The
Administrative Agent shall be entitled to rely upon, and shall not incur any liability for relying upon, any notice, request, certificate, consent, statement, instrument, document or other writing (including any electronic message, Internet or
intranet website posting or other distribution) believed by it to be genuine and to have been signed, sent or otherwise authenticated by the proper Person. The Administrative Agent also may rely upon any statement made to it orally or by telephone
and believed by it to have been made by the proper Person, and shall not incur any liability for relying thereon. In determining compliance with any condition hereunder to the making of a Loan, or the issuance, extension, renewal or increase of a
Letter of Credit, that by its terms must be fulfilled to the satisfaction of a Lender or the Applicable Issuing Party, the Administrative Agent may presume that such compliance is satisfactory to such Lender or the Applicable Issuing Party unless
the Administrative Agent shall have received notice to the contrary from such Lender or the Applicable Issuing Party prior to the making of such Loan or the issuance of such Letter of Credit. The Administrative Agent may consult with legal counsel
(who may be counsel for the Borrower), independent accountants and other experts selected by it, and shall not be liable for any action taken or not taken by it in accordance with the advice of any such counsel, accountants or experts. 

9.05 Delegation of Duties. The Administrative Agent may perform any and all of its duties and exercise its rights and powers
hereunder or under any other Loan Document by or through any one or more sub-agents appointed by the Administrative Agent. The Administrative Agent and any such sub-agent may perform any and all of its duties and exercise its rights and powers by or
through their respective Related Parties. The exculpatory provisions of this Article shall apply to any such sub-agent and to the Related Parties of the Administrative Agent and any such sub-agent, and shall apply to their respective activities in
connection with the syndication of the credit facilities provided for herein as well as activities as Administrative Agent. The Administrative Agent shall not be responsible for the negligence or misconduct of any sub-agents except to the extent
that a court of competent jurisdiction determines in a final and non appealable judgment that the Administrative Agent acted with gross negligence or willful misconduct in the selection of such sub-agents. 

9.06 Resignation of Administrative Agent. 
 (a) The Administrative Agent may at any time give notice of its resignation to the Lenders, the Fronting Bank and the Borrower. Upon receipt of any such notice of resignation, the Required Lenders shall
have the right, in consultation with the Borrower, to appoint a 

  
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successor, which shall be a bank with an office in the United States, or an Affiliate of any such bank with an office in the United States. If no such successor shall have been so appointed by
the Required Lenders and shall have accepted such appointment within 30 days after the retiring Administrative Agent gives notice of its resignation (or such earlier day as shall be agreed by the Required Lenders) (the “Resignation
Effective Date”), then the retiring Administrative Agent may (but shall not be obligated to) on behalf of the Lenders and the Fronting Bank, appoint a successor Administrative Agent meeting the qualifications set forth above. Whether or not
a successor has been appointed, such resignation shall become effective in accordance with such notice on the Resignation Effective Date. 
 (b) If the Person serving as Administrative Agent is a Defaulting Lender pursuant to clause (d) of the definition thereof, the Required Lenders may, to the extent permitted by applicable law,
by notice in writing to the Borrower and such Person remove such Person as Administrative Agent and, in consultation with the Borrower, appoint a successor. If no such successor shall have been so appointed by the Required Lenders and shall have
accepted such appointment within 30 days (or such earlier day as shall be agreed by the Required Lenders) (the “Removal Effective Date”), then such removal shall nonetheless become effective in accordance with such notice on the
Removal Effective Date. 
 (c) With effect from the Resignation Effective Date or the Removal Effective Date (as applicable)
(1) the retiring or removed Administrative Agent shall be discharged from its duties and obligations hereunder and under the other Loan Documents and (2) except for any indemnity payments or other amounts then owed to the retiring or
removed Administrative Agent, all payments, communications and determinations provided to be made by, to or through the Administrative Agent shall instead be made by or to each Lender and the Fronting Bank directly, until such time, if any, as the
Required Lenders appoint a successor Administrative Agent as provided for above. Upon the acceptance of a successor’s appointment as Administrative Agent hereunder, such successor shall succeed to and become vested with all of the rights,
powers, privileges and duties of the retiring (or removed) Administrative Agent (other than as provided in Section 3.01(g) and other than any rights to indemnity payments or other amounts owed to the retiring or removed Administrative
Agent as of the Resignation Effective Date or the Removal Effective Date, as applicable), and the retiring or removed Administrative Agent shall be discharged from all of its duties and obligations hereunder or under the other Loan Documents (if not
already discharged therefrom as provided above in this Section). The fees payable by the Borrower to a successor Administrative Agent shall be the same as those payable to its predecessor unless otherwise agreed between the Borrower and such
successor. After the retiring or removed Administrative Agent’s resignation or removal hereunder and under the other Loan Documents, the provisions of this Article and Section 10.04 shall continue in effect for the benefit of such
retiring or removed Administrative Agent, its sub-agents and their respective Related Parties in respect of any actions taken or omitted to be taken by any of them while the retiring or removed Administrative Agent was acting as Administrative
Agent. 
 (d) Any resignation by Bank of America as Administrative Agent pursuant to this Section shall also constitute its
resignation as Fronting Bank and L/C Administrator. Upon the acceptance of a successor’s appointment as Administrative Agent hereunder, (a) such successor shall succeed to and become vested with all of the rights, powers, privileges and
duties of the retiring Fronting Bank and L/C Administrator, (b) the retiring Fronting Bank and L/C 

  
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Administrator shall be discharged from all of their respective duties and obligations hereunder or under the other Loan Documents, and (c) the successor Fronting Bank and L/C Administrator
shall issue letters of credit in substitution for the Letters of Credit, if any, outstanding at the time of such succession (unless such substitution would require the consent of the beneficiary and such consent cannot be obtained) or make other
arrangements satisfactory to the retiring Fronting Bank and the L/C Administrator to effectively assume the obligations of the retiring Fronting Bank and the L/C Administrator with respect to such Letters of Credit 

9.07 Non-Reliance on Administrative Agent and Other Lenders. Each Lender, the L/C Administrator and the Fronting Bank acknowledges
that it has, independently and without reliance upon the Administrative Agent or any other Lender or any of their Related Parties and based on such documents and information as it has deemed appropriate, made its own credit analysis and decision to
enter into this Agreement. Each Lender, the L/C Administrator and the Fronting Bank also acknowledges that it will, independently and without reliance upon the Administrative Agent or any other Lender or any of their Related Parties and based on
such documents and information as it shall from time to time deem appropriate, continue to make its own decisions in taking or not taking action under or based upon this Agreement, any other Loan Document or any related agreement or any document
furnished hereunder or thereunder. 
 9.08 No Other Duties, Etc. Anything herein to the contrary notwithstanding, none of
the Book Managers, Arrangers, Syndication Agent or Documentation Agents listed on the cover page hereof shall have any powers, duties or responsibilities under this Agreement or any of the other Loan Documents, except in its capacity, as applicable,
as the Administrative Agent, a Lender, the L/C Administrator or the Fronting Bank hereunder. 
 9.09 Administrative Agent May
File Proofs of Claim. In case of the pendency of any proceeding under any Debtor Relief Law or any other judicial proceeding relative to the Borrower, the Administrative Agent (irrespective of whether the principal of any Loan or L/C Obligation
shall then be due and payable as herein expressed or by declaration or otherwise and irrespective of whether the Administrative Agent shall have made any demand on the Borrower) shall be entitled and empowered, by intervention in such proceeding or
otherwise: 
 (a) to file and prove a claim for the whole amount of the principal and interest owing and unpaid
in respect of the Loans, L/C Obligations and all other Obligations that are owing and unpaid and to file such other documents as may be necessary or advisable in order to have the claims of the Lenders, the Fronting Bank, the L/C Administrator and
the Administrative Agent (including any claim for the reasonable compensation, expenses, disbursements and advances of the Lenders, the Fronting Bank, the L/C Administrator and the Administrative Agent and their respective agents and counsel and all
other amounts due the Lenders, the Fronting Bank, the L/C Administrator and the Administrative Agent under Sections 2.03(i) and (j), 2.08 and 10.04) allowed in such judicial proceeding; and 

(b) to collect and receive any monies or other property payable or deliverable on any such claims and to distribute the
same; 

  
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 and any custodian, receiver, assignee, trustee, liquidator, sequestrator or other similar official in any
such judicial proceeding is hereby authorized by each Lender and the Fronting Bank to make such payments to the Administrative Agent and, in the event that the Administrative Agent shall consent to the making of such payments directly to the Lenders
and the Fronting Bank, to pay to the Administrative Agent any amount due for the reasonable compensation, expenses, disbursements and advances of the Administrative Agent and its agents and counsel, and any other amounts due the Administrative Agent
under Sections 2.08 and 10.04. 
 Nothing contained herein shall be deemed to authorize the Administrative Agent
to authorize or consent to or accept or adopt on behalf of any Lender or the Fronting Bank any plan of reorganization, arrangement, adjustment or composition affecting the Obligations or the rights of any Lender or the Fronting Bank to authorize the
Administrative Agent to vote in respect of the claim of any Lender or the Fronting Bank in any such proceeding. 
 ARTICLE X

 MISCELLANEOUS 
 10.01 Amendments, Etc. No amendment or waiver of any provision of this Agreement or any other Loan Document, and no consent to any departure by the Borrower therefrom, shall be effective unless in
writing signed by the Required Lenders and the Borrower and acknowledged by the Administrative Agent, and each such waiver or consent shall be effective only in the specific instance and for the specific purpose for which given; provided,
however, that no such amendment, waiver or consent shall: 
 (a) waive any condition set forth in
Section 4.01(a) without the written consent of each Lender; 
 (b) extend or increase the Commitment of any Lender
(or reinstate any Commitment terminated pursuant to Section 8.02) without the written consent of such Lender; 
 (c)
postpone any date fixed by this Agreement or any other Loan Document for any payment of principal, interest, fees or other amounts due to the Lenders (or any of them) hereunder or under any other Loan Document without the written consent of each
Lender directly affected thereby; 
 (d) reduce the principal of, or the rate of interest specified herein on, any Loan or L/C
Borrowing, or (subject to clause (iii) of the second proviso to this Section 10.01) any fees or other amounts payable hereunder or under any other Loan Document without the written consent of each Lender directly affected thereby;
provided, however, that only the consent of the Required Lenders shall be necessary (i) to amend the definition of “Default Rate” or to waive any obligation of the Borrower to pay interest or Letter of Credit Fees at the
Default Rate or any provision relating to Defaulting Lenders (including the definition thereof); or (ii) to amend any financial covenant hereunder (or any defined term used therein) even if the effect of such amendment would be to reduce the
rate of interest on any Loan or L/C Borrowing or to reduce any fee payable hereunder; 
 (e) change Section 8.03 in
a manner that would alter the pro rata sharing of payments required thereby without the written consent of each Lender; or 

  
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 (f) change any provision of this Section or the definition of “Required Lenders”
or any other provision hereof specifying the number or percentage of Lenders required to amend, waive or otherwise modify any rights hereunder or make any determination or grant any consent hereunder, without the written consent of each Lender;

 and, provided further, that (i) no amendment, waiver or consent shall, unless in writing and signed by the Applicable
Issuing Party in addition to the Lenders required above, affect the rights or duties of the Applicable Issuing Party under this Agreement or any Issuer Document relating to any Letter of Credit issued or to be issued by it; (ii) no amendment,
waiver or consent shall, unless in writing and signed by the Administrative Agent in addition to the Lenders required above, affect the rights or duties of the Administrative Agent under this Agreement or any other Loan Document; (iii) either
Fee Letter may be amended, or rights or privileges thereunder waived, in a writing executed only by the parties thereto whose rights and privileges are affected thereby. Notwithstanding anything to the contrary herein, no Defaulting Lender shall
have any right to approve or disapprove any amendment, waiver or consent hereunder (and any amendment, waiver or consent which by its terms requires the consent of all Lenders or each affected Lender may be effected with the consent of the
applicable Lenders other than Defaulting Lenders), except that (x) the Commitment of any Defaulting Lender may not be increased or extended without the consent of such Lender and (y) any waiver, amendment or modification requiring the
consent of all Lenders or each affected Lender that by its terms affects any Defaulting Lender disproportionately adversely relative to other affected Lenders shall require the consent of such Defaulting Lender. 

10.02 Notices; Effectiveness; Electronic Communication.  

(a) Notices Generally. Except in the case of notices and other communications expressly permitted to be given by telephone (and
except as provided in subsection (b) below), all notices and other communications provided for herein shall be in writing and shall be delivered by hand or overnight courier service, mailed by certified or registered mail or sent by facsimile
or, subject to subsection (b) below, electronic mail as follows, and all notices and other communications expressly permitted hereunder to be given by telephone shall be made to the applicable telephone number, as follows: 

(i) if to the Borrower, the Administrative Agent, the L/C Administrator or the Fronting Bank, to the address, facsimile
number, electronic mail address or telephone number specified for such Person on Schedule 10.02; and 

(ii) if to any other Lender, to the address, facsimile number, electronic mail address or telephone number specified in
its Administrative Questionnaire (including, as appropriate, notices delivered solely to the Person designated by a Lender on its Administrative Questionnaire then in effect for the delivery of notices that may contain material non-public
information relating to the Borrower). 
 Notices and other communications sent by hand or overnight courier service, or mailed by certified or
registered mail, shall be deemed to have been given when received; notices and other communications sent by facsimile shall be deemed to have been given when sent (except that, if not given during normal business hours for the recipient, shall be
deemed to have been given at 

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

  
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 (d) Change of Address, Etc. Each of the Borrower, the Administrative Agent, the
Fronting Bank and the L/C Administrator may change its address, facsimile or telephone number for notices and other communications hereunder by notice to the other parties hereto. Each other Lender may change its address, facsimile or telephone
number for notices and other communications hereunder by notice to the Borrower, the Administrative Agent, the L/C Administrator and the Fronting Bank. In addition, each Lender agrees to notify the Administrative Agent from time to time to ensure
that the Administrative Agent has on record (i) an effective address, contact name, telephone number, facsimile number and electronic mail address to which notices and other communications may be sent and (ii) accurate wire instructions
for such Lender. Furthermore, each Public Lender agrees to cause at least one individual at or on behalf of such Public Lender to at all times have selected the “Private Side Information” or similar designation on the content declaration
screen of the Platform in order to enable such Public Lender or its delegate, in accordance with such Public Lender’s compliance procedures and applicable Law, including United States Federal and state securities Laws, to make reference to
Borrower Materials that are not made available through the “Public Side Information” portion of the Platform and that may contain material non-public information with respect to the Borrower or its securities for purposes of United States
Federal or state securities laws. 
 (e) Reliance by Administrative Agent, L/C Administrator, Fronting Bank and
Lenders. The Administrative Agent, the L/C Administrator, the Fronting Bank and the Lenders shall be entitled to rely and act upon any notices (including telephonic Loan Notices) purportedly given by or on behalf of the Borrower even if
(i) such notices were not made in a manner specified herein, were incomplete or were not preceded or followed by any other form of notice specified herein, or (ii) the terms thereof, as understood by the recipient, varied from any
confirmation thereof. The Borrower shall indemnify the Administrative Agent, the L/C Administrator, the Fronting Bank, each Lender and the Related Parties of each of them from all losses, costs, expenses and liabilities resulting from the reliance
by such Person on each notice purportedly given by or on behalf of the Borrower. All telephonic notices to and other telephonic communications with the Administrative Agent may be recorded by the Administrative Agent, and each of the parties hereto
hereby consents to such recording. 
 10.03 No Waiver; Cumulative Remedies; Enforcement. No failure by any Lender, the
L/C Administrator, the Fronting Bank or the Administrative Agent to exercise, and no delay by any such Person in exercising, any right, remedy, power or privilege hereunder or under any other Loan Document shall operate as a waiver thereof; nor
shall any single or partial exercise of any right, remedy, power or privilege hereunder preclude any other or further exercise thereof or the exercise of any other right, remedy, power or privilege. The rights, remedies, powers and privileges
herein, provided, and provided under each other Loan Document, are cumulative and not exclusive of any rights, remedies, powers and privileges provided by law. 
 Notwithstanding anything to the contrary contained herein or in any other Loan Document, the authority to enforce rights and remedies hereunder and under the other Loan Documents against the Borrower
shall be vested exclusively in, and all actions and proceedings at law in connection with such enforcement shall be instituted and maintained exclusively by, the Administrative Agent in accordance with Section 8.02 for the benefit of all
the Lenders, the L/C Administrator and the Fronting Bank; provided, however, that the foregoing shall not prohibit (a) 

  
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the Administrative Agent from exercising on its own behalf the rights and remedies that inure to its benefit (solely in its capacity as Administrative Agent) hereunder and under the other Loan
Documents, (b) either Applicable Issuing Party from exercising the rights and remedies that inure to its benefit (solely in its capacity as an Applicable Issuing Party) hereunder and under the other Loan Documents, (c) any Lender from
exercising setoff rights in accordance with Section 10.08 (subject to the terms of Section 2.12), or (d) any Lender from filing proofs of claim or appearing and filing pleadings on its own behalf during the pendency of a
proceeding relative to the Borrower under any Debtor Relief Law; and provided, further, that if at any time there is no Person acting as Administrative Agent hereunder and under the other Loan Documents, then (i) the Required
Lenders shall have the rights otherwise ascribed to the Administrative Agent pursuant to Section 8.02 and (ii) in addition to the matters set forth in clauses (b), (c) and (d) of the preceding proviso
and subject to Section 2.12, any Lender may, with the consent of the Required Lenders, enforce any rights and remedies available to it and as authorized by the Required Lenders. 

10.04 Expenses; Indemnity; Damage Waiver. 
 (a) Costs and Expenses. The Borrower shall pay (i) all reasonable out-of-pocket expenses incurred by the Administrative Agent and its Affiliates (including the reasonable fees, charges and
disbursements of counsel for the Administrative Agent), in connection with the syndication of the credit facilities provided for herein, the preparation, negotiation, execution, delivery and administration of this Agreement and the other Loan
Documents or any amendments, modifications or waivers of the provisions hereof or thereof (whether or not the transactions contemplated hereby or thereby shall be consummated), (ii) all reasonable out-of-pocket expenses incurred by the
Applicable Issuing Party in connection with the issuance, amendment, renewal or extension of any Letter of Credit or any demand for payment thereunder and (iii) all out-of-pocket expenses incurred by the Administrative Agent, any Lender or the
Applicable Issuing Party (including the fees, charges and disbursements of any counsel for the Administrative Agent, any Lender or the Applicable Issuing Party, in connection with the enforcement or protection of its rights) (A) in connection
with this Agreement and the other Loan Documents, including its rights under this Section, or (B) in connection with the Loans made or Letters of Credit issued hereunder, including all such out-of-pocket expenses incurred during any workout,
restructuring or negotiations in respect of such Loans or Letters of Credit. 
 (b) Indemnification by the Borrower. The
Borrower shall indemnify the Administrative Agent (and any sub-agent thereof), each Lender, the L/C Administrator and the Fronting Bank, and each Related Party of any of the foregoing Persons (each such Person being called an
“Indemnitee”) against, and hold each Indemnitee harmless from, any and all losses, claims, damages, liabilities and related expenses (including the fees, charges and disbursements of any counsel for any Indemnitee), incurred by any
Indemnitee or asserted against any Indemnitee by any Person (including the Borrower) other than such Indemnitee and its Related Parties arising out of, in connection with, or as a result of (i) the execution or delivery of this Agreement, any
other Loan Document or any agreement or instrument contemplated hereby or thereby, the performance by the parties hereto of their respective obligations hereunder or thereunder, the consummation of the transactions contemplated hereby or thereby,
or, in the case of the Administrative Agent (and any sub-agent thereof) and its Related Parties only, the administration of this Agreement and the other Loan Documents, (ii) any Loan or Letter of

  
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Credit or the use or proposed use of the proceeds therefrom (including any refusal by an Applicable Issuing Party to honor a demand for payment under a Letter of Credit if the documents presented
in connection with such demand do not strictly comply with the terms of such Letter of Credit), (iii) any actual or alleged presence or Release of Hazardous Materials on or from any property owned or operated by the Borrower or any of its
Subsidiaries, or any Environmental Liability related in any way to the Borrower or any of its Subsidiaries, or (iv) any actual or prospective claim, litigation, investigation or proceeding relating to any of the foregoing, whether based on
contract, tort or any other theory, whether brought by a third party or by the Borrower, and regardless of whether any Indemnitee is a party to such proceeding; provided that such indemnity shall not, as to any Indemnitee, be available to the
extent that such losses, claims, damages, liabilities or related expenses (x) are determined by a court of competent jurisdiction by final and nonappealable judgment to have resulted from the gross negligence or willful misconduct of such
Indemnitee or (y) result from a claim brought by the Borrower against an Indemnitee for breach in bad faith of such Indemnitee’s obligations hereunder or under any other Loan Document, if the Borrower has obtained a final and nonappealable
judgment in its favor on such claim as determined by a court of competent jurisdiction. Without limiting the provisions of Section 3.01(c), this Section 10.4(b) shall not apply with respect to Taxes other than any Taxes that
represent losses, claims, damages, etc. arising from any non-Tax claim. 
 (c) Reimbursement by Lenders. To the extent
that the Borrower for any reason fails to indefeasibly pay any amount required under subsection (a) or (b) of this Section to be paid by it to the Administrative Agent (or any sub-agent thereof), the Fronting Bank, the L/C Administrator or
any Related Party of any of the foregoing, each Lender severally agrees to pay to the Administrative Agent (or any such sub-agent), the Fronting Bank, the L/C Administrator or such Related Party, as the case may be, such Lender’s pro rata share
(determined as of the time that the applicable unreimbursed expense or indemnity payment is sought based on each Lender’s share of the Total Outstandings at such time) of such unpaid amount (including any such unpaid amount in respect of a
claim asserted by such Lender), such payment to be made severally among them based on such Lenders’ Applicable Percentage (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought), provided that
the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Administrative Agent (or any such sub-agent) or an Applicable Issuing Party in its capacity as
such, or against any Related Party of any of the foregoing acting for the Administrative Agent (or any such sub-agent) or an Applicable Issuing Party in connection with such capacity. The obligations of the Lenders under this subsection (c) are
subject to the provisions of Section 2.11(d). 
 (d) Waiver of Consequential Damages, Etc. To the fullest
extent permitted by applicable law, the Borrower shall not assert, and hereby waives any claim against any Indemnitee, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages)
arising out of, in connection with, or as a result of, this Agreement, any other Loan Document or any agreement or instrument contemplated hereby, the transactions contemplated hereby or thereby, any Loan or Letter of Credit or the use of the
proceeds thereof. No Indemnitee referred to in subsection (b) above shall be liable for any damages arising from the use by unintended recipients of any information or other materials distributed to such unintended recipients by such Indemnitee
through telecommunications, 

  
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electronic or other information transmission systems in connection with this Agreement or the other Loan Documents or the transactions contemplated hereby or thereby other than for direct or
actual damages resulting from the gross negligence or willful misconduct of such Indemnitee as determined by a final and nonappealable judgment of a court of competent jurisdiction. 

(e) Payments. All amounts due under this Section shall be payable not later than ten Business Days after demand therefor.

 (f) Survival. The agreements in this Section shall survive the resignation of the Administrative Agent, the Fronting
Bank, the L/C Administrator, the replacement of any Lender, the termination of the Aggregate Commitments and the repayment, satisfaction or discharge of all the other Obligations. 

10.05 Payments Set Aside. To the extent that any payment by or on behalf of the Borrower is made to the Administrative Agent, an
Applicable Issuing Party or any Lender, or the Administrative Agent, an Applicable Issuing Party or any Lender exercises its right of setoff, and such payment or the proceeds of such setoff or any part thereof is subsequently invalidated, declared
to be fraudulent or preferential, set aside or required (including pursuant to any settlement entered into by the Administrative Agent, such Applicable Issuing Party or such Lender in its discretion) to be repaid to a trustee, receiver or any other
party, in connection with any proceeding under any Debtor Relief Law or otherwise, then (a) to the extent of such recovery, the obligation or part thereof originally intended to be satisfied shall be revived and continued in full force and
effect as if such payment had not been made or such setoff had not occurred, and (b) each Lender and each Applicable Issuing Party severally agrees to pay to the Administrative Agent upon demand its applicable share (without duplication) of any
amount so recovered from or repaid by the Administrative Agent, plus interest thereon from the date of such demand to the date such payment is made at a rate per annum equal to the Federal Funds Rate from time to time in effect. The obligations of
the Lenders and each Applicable Issuing Party under clause (b) of the preceding sentence shall survive the payment in full of the Obligations and the termination of this Agreement. 

10.06 Successors and Assigns.  
 (a) Successors and Assigns Generally. The provisions of this Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns permitted
hereby, except that the Borrower may not assign or otherwise transfer any of its rights or obligations hereunder (except as provided in Section 7.03(b)) without the prior written consent of the Administrative Agent, the Fronting Bank and
each Lender and no Lender may assign or otherwise transfer any of its rights or obligations hereunder except (i) to an assignee in accordance with the provisions of subsection (b) of this Section, (ii) by way of participation in
accordance with the provisions of subsection (d) of this Section, or (iii) by way of pledge or assignment of a security interest subject to the restrictions of subsection (f) of this Section (and any other attempted assignment or
transfer by any party hereto shall be null and void). Nothing in this Agreement, expressed or implied, shall be construed to confer upon any Person (other than the parties hereto, their respective successors and assigns permitted hereby,
Participants to the extent provided in subsection (d) of this Section and, to the extent expressly contemplated hereby, the Related Parties of each of the Administrative Agent, the Fronting Bank, the L/C Administrator and the Lenders) any legal
or equitable right, remedy or claim under or by reason of this Agreement. 

  
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 (b) Assignments by Lenders. Any Lender may at any time assign to one or more Eligible
Assignees all or a portion of its rights and obligations under this Agreement (including all or a portion of its Commitment and the Loans (including for purposes of this subsection (b), direct obligations under and participations in L/C Obligations)
at the time owing to it); provided that any such assignment shall be subject to the following conditions: 

(i) Minimum Amounts. 
 (A) in the case of an assignment of the entire remaining amount of the assigning Lender’s Commitment and the Loans at the time owing to it or contemporaneous assignments to related Approved Funds
that equal at least the amount specified in paragraph (b)(i)(B) of this Section in the aggregate or in the case of an assignment to a Lender, an Affiliate of a Lender or an Approved Fund, no minimum amount need be assigned; and 

(B) in any case not described in subsection (b)(i)(A) of this Section, the aggregate amount of the Commitment (which for
this purpose includes Loans outstanding thereunder) or, if the Commitment is not then in effect, the principal outstanding balance of the Loans of the assigning Lender subject to each such assignment, determined as of the date the Assignment and
Assumption with respect to such assignment is delivered to the Administrative Agent or, if “Trade Date” is specified in the Assignment and Assumption, as of the Trade Date, shall not be less than $5,000,000 unless each of the
Administrative Agent and, so long as no Event of Default has occurred and is continuing, the Borrower otherwise consents (each such consent not to be unreasonably withheld or delayed). 

(ii) Proportionate Amounts. Each partial assignment shall be made as an assignment of a proportionate part of all
the assigning Lender’s rights and obligations under this Agreement with respect to the Loans or the Commitment assigned; 
 (iii) Required Consents. No consent shall be required for any assignment except to the extent required by subsection (b)(i)(B) of this Section and, in addition: 

(A) the consent of the Borrower (such consent not to be unreasonably withheld or delayed) shall be required unless
(1) an Event of Default has occurred and is continuing at the time of such assignment or (2) such assignment is to a Lender, an Affiliate of a Lender or an Approved Fund; provided that the Borrower shall be deemed to have consented
to any such assignment unless it shall object thereto by written notice to the Administrative Agent within five (5) Business Days after having received notice thereof; 

(B) the consent of the Administrative Agent (such consent not to be unreasonably withheld or delayed) shall be required if
such assignment is to a Person that is not a Lender, an Affiliate of such Lender or an Approved Fund with respect to such Lender; and 

  
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 (C) the consent of the Fronting Bank (such consent not to be unreasonably
withheld or delayed) shall be required for any assignment and, if such assignee could not be an L/C Issuer of a Several Letter of Credit under applicable regulatory requirements, the Fronting Bank must have agreed (in its sole discretion) to front
for such assignee under Several Letters of Credit. 
 (iv) Assignment and Assumption. The parties to each
assignment shall execute and deliver to the Administrative Agent an Assignment and Assumption, together with a processing and recordation fee in the amount of $3,500; provided, however, that the Administrative Agent may, in its sole
discretion, elect to waive such processing and recordation fee in the case of any assignment. The assignee, if it is not a Lender, shall deliver to the Administrative Agent an Administrative Questionnaire. 

(v) No Assignment to Certain Persons. No such assignment shall be made (A) to the Borrower or any of the
Borrower’s Affiliates or Subsidiaries, or (B) to any Defaulting Lender or any of its Subsidiaries, or any Person who, upon becoming a Lender hereunder, would constitute any of the foregoing Persons described in this clause (B),
(C) to a natural person, or (D) to any Person who has not on or prior to the date of such assignment complied with the requirements of Section 3.01(e). 

(vi) Certain Additional Payments. In connection with any assignment of rights and obligations of any Defaulting
Lender hereunder, no such assignment shall be effective unless and until, in addition to the other conditions thereto set forth herein, the parties to the assignment shall make such additional payments to the Administrative Agent in an aggregate
amount sufficient, upon distribution thereof as appropriate (which may be outright payment, purchases by the assignee of participations or subparticipations, or other compensating actions, including funding, with the consent of the Borrower and the
Administrative Agent, the applicable pro rata share of Loans previously requested but not funded by the Defaulting Lender, to each of which the applicable assignee and assignor hereby irrevocably consent), to (x) pay and satisfy in full all
payment liabilities then owed by such Defaulting Lender to the Administrative Agent, the Fronting Bank, the L/C Administrator or any Lender hereunder (and interest accrued thereon) and (y) acquire (and fund as appropriate) its full pro rata
share of all Loans, obligations under Several Letters of Credit and participations in Fronted Letters of Credit in accordance with its Applicable Percentage. Notwithstanding the foregoing, in the event that any assignment of rights and obligations
of any Defaulting Lender hereunder shall become effective under applicable Law without compliance with the provisions of this paragraph, then the assignee of such interest shall be deemed to be a Defaulting Lender for all purposes of this Agreement
until such compliance occurs. 
 Subject to acceptance and recording thereof by the Administrative Agent pursuant to subsection (c) of this
Section, from and after the effective date specified in each Assignment and Assumption, the assignee thereunder shall be a party to this Agreement and, to the extent of the interest assigned by such Assignment and Assumption, have the rights and
obligations of a Lender under this Agreement, and the assigning Lender thereunder shall, to the extent of the interest assigned by such Assignment and Assumption, be released from its obligations under this Agreement (and, in the case of an
Assignment and Assumption covering all of the assigning 

  
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Lender’s rights and obligations under this Agreement, such Lender shall cease to be a party hereto) but shall continue to be entitled to the benefits of Sections 3.01, 3.04,
3.05, and 10.04 with respect to facts and circumstances occurring prior to the effective date of such assignment; provided, that except to the extent otherwise expressly agreed by the affected parties, no assignment by a
Defaulting Lender will constitute a waiver or release of any claim of any party hereunder arising from that Lender’s having been a Defaulting Lender. Upon request, the Borrower (at its expense) shall execute and deliver a Note to the assignee
Lender. Any assignment or transfer by a Lender of rights or obligations under this Agreement that does not comply with this subsection shall be treated for purposes of this Agreement as a sale by such Lender of a participation in such rights and
obligations in accordance with subsection (d) of this Section. Notwithstanding any other provision to the contrary, an assignee under this Section 10.6 shall not be entitled to receive any payment under Section 3.01 that
is greater in amount than the applicable assignor would have been entitled to receive with respect to the Commitment or Loans being assigned unless such assignment is made with the Borrower’s prior written consent. 

(c) Register. The Administrative Agent, acting solely for this purpose as an agent of the Borrower (and such agency being solely
for tax purposes), shall maintain at the Administrative Agent’s Office a copy of each Assignment and Assumption delivered to it (or the equivalent thereof in electronic form) and a register for the recordation of the names and addresses of the
Lenders, and the Commitments of, and principal amounts (and stated interest) of the Loans and L/C Obligations owing to, each Lender pursuant to the terms hereof from time to time (the “Register”). The entries in the Register shall
be conclusive (absent manifest error), and the Borrower, the Administrative Agent and the Lenders shall treat each Person whose name is recorded in the Register pursuant to the terms hereof as a Lender hereunder for all purposes of this Agreement.
In addition, the Administrative Agent shall maintain on the Register information regarding the designation, and revocation of designation, of any Lender as a Defaulting Lender. The Register shall be available for inspection by the Borrower and any
Lender, at any reasonable time and from time to time upon reasonable prior notice. 
 (d) Participations. Any Lender may
at any time, without the consent of, or notice to, the Borrower or the Administrative Agent, sell participations to any Person (other than a natural person, a Defaulting Lender or the Borrower or any of the Borrower’s Affiliates or
Subsidiaries) (each, a “Participant”) in all or a portion of such Lender’s rights and/or obligations under this Agreement (including all or a portion of its Commitment and/or the Loans (including such Lender’s
participations in L/C Obligations) owing to it); provided that (i) such Lender’s obligations under this Agreement shall remain unchanged, (ii) such Lender shall remain solely responsible to the other parties hereto for the
performance of such obligations and (iii) the Borrower, the Administrative Agent, the Lenders, the L/C Administrator and the Fronting Bank shall continue to deal solely and directly with such Lender in connection with such Lender’s rights
and obligations under this Agreement. For the avoidance of doubt, each Lender shall be responsible for the indemnity under Section 10.04(c) without regard to the existence of any participation. 

Any agreement or instrument pursuant to which a Lender sells such a participation shall provide that such Lender shall retain the sole
right to enforce this Agreement and to approve any amendment, modification or waiver of any provision of this Agreement; provided that such agreement or instrument may provide that such Lender will not, without the consent of the

  
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Participant, agree to any amendment, waiver or other modification described in the first proviso to Section 10.01 that affects such Participant. The Borrower agrees that each
Participant shall be entitled to the benefits of Sections 3.01, 3.04 and 3.05 to the same extent as if it were a Lender and had acquired its interest by assignment pursuant to subsection (b) of this Section (it being
understood that the documentation required under Section 3.01(e) shall be delivered to the Lender who sells the participation) to the same extent as if it were a Lender and had acquired its interest by assignment pursuant to paragraph
(b) of this Section; provided that such Participant (A) agrees to be subject to the provisions of Sections 3.06 and 10.13 as if it were an assignee under paragraph (b) of this Section and (B) shall not be entitled
to receive any greater payment under Sections 3.01 or 3.04, with respect to any participation, than the Lender from whom it acquired the applicable participation would have been entitled to receive, except to the extent such
entitlement to receive a greater payment results from a Change in Law that occurs after the Participant acquired the applicable participation. Each Lender that sells a participation agrees, at the Borrower’s request and expense, to use
reasonable efforts to cooperate with the Borrower to effectuate the provisions of Section 3.06 with respect to any Participant. To the extent permitted by law, each Participant also shall be entitled to the benefits of
Section 10.08 as though it were a Lender; provided that such Participant agrees to be subject to Section 2.12 as though it were a Lender. Each Lender that sells a participation shall, acting solely for this purpose as an
agent of the Borrower, 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 the Loan Documents
(the “Participant Register”); provided that no Lender shall have any obligation to disclose all or any portion of the Participant Register (including the identity of any Participant or any information relating to a
Participant’s interest in any commitments, loans, letters of credit or its other obligations under any Loan Document) to any Person except to the extent that such disclosure is necessary to establish that such 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 Lender 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. For the avoidance of doubt, the Administrative Agent (in its capacity as Administrative Agent)
shall have no responsibility for maintaining a Participant Register. 
 (e) Limitations upon Participant Rights. A
Participant shall not be entitled to receive any greater payment under Section 3.01 or 3.04 than the applicable Lender would have been entitled to receive with respect to the participation sold to such Participant, unless the sale
of the participation to such Participant is made with the Borrower’s prior written consent. A Participant shall not be entitled to the benefits of Section 3.01 unless the Borrower is notified of the participation sold to such
Participant and such Participant agrees, for the benefit of the Borrower, to comply with Section 3.01(e) as though it were a Lender. 
 (f) Certain Pledges. Any Lender may at any time pledge or assign a security interest in all or any portion of its rights under this Agreement (including under its Note, if any) to secure
obligations of such Lender, including any pledge or assignment to secure obligations to a Federal Reserve Bank; provided that no such pledge or assignment shall release such Lender from any of its obligations hereunder or substitute any such
pledgee or assignee for such Lender as a party hereto. 

  
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 (g) Resignation as Fronting Bank and L/C Administrator after Assignment.
Notwithstanding anything to the contrary contained herein, if at any time Bank of America assigns all of its Commitment and Loans pursuant to subsection (b) above, Bank of America may, upon 30 days’ notice to the Borrower and the Lenders,
resign as Fronting Bank and L/C Administrator. In the event of any such resignation as Fronting Bank and L/C Administrator, the Borrower shall be entitled to appoint from among the Lenders a successor Fronting Bank and L/C Administrator hereunder;
provided, however, that no failure by the Borrower to appoint any such successor shall affect the resignation of Bank of America as Fronting Bank and L/C Administrator. If Bank of America resigns as Fronting Bank and L/C Administrator,
it shall retain all the rights, powers, privileges and duties of the Fronting Bank hereunder with respect to all Letters of Credit outstanding as of the effective date of its resignation as Fronting Bank and L/C Administrator and all L/C Obligations
with respect thereto (including the right to require the Lenders to make Base Rate Loans or fund risk participations in Unreimbursed Amounts pursuant to Section 2.03(c)). Upon the appointment of a successor Fronting Bank and L/C
Administrator (a) such successor shall succeed to and become vested with all of the rights, powers, privileges and duties of the retiring Fronting Bank and L/C Administrator, and (b) the successor Fronting Bank and L/C Administrator shall
issue letters of credit in substitution for the Letters of Credit, if any, outstanding at the time of such succession (unless such substitution would require the consent of the beneficiary and such consent cannot be obtained), or make other
arrangements satisfactory to Bank of America to effectively assume the obligations of Bank of America with respect to such Letters of Credit. 
 10.07 Treatment of Certain Information; Confidentiality. Each of the Administrative Agent, the Lenders, the L/C Administrator and the Fronting Bank agrees to maintain the confidentiality of the
Information (as defined below), except that Information may be disclosed (a) to its Affiliates and to its Related Parties (it being understood that the Persons to whom such disclosure is made will be informed of the confidential nature of such
Information and instructed to keep such Information confidential), (b) to the extent required or requested by any regulatory authority purporting to have jurisdiction over such Person or its Related Parties (including any self-regulatory
authority, such as the National Association of Insurance Commissioners), (c) to the extent required by applicable laws or regulations or by any subpoena or similar legal process, (d) to any other party hereto, (e) in connection with
the exercise of any remedies hereunder or under any other Loan Document or any action or proceeding relating to this Agreement or any other Loan Document or the enforcement of rights hereunder or thereunder, (f) subject to an agreement
containing provisions substantially the same as those of this Section, to (i) any assignee of or Participant in, or any prospective assignee of or Participant in, any of its rights and obligations under this Agreement or any Eligible Assignee
invited to be a Lender pursuant to Section 2.13(c) or (ii) any actual or prospective party (or its Related Parties) to any swap, derivative or other transaction under which payments are to be made by reference to the Borrower and
its obligations, this Agreement or payments hereunder, (g) on a confidential basis to (i) any rating agency in connection with rating the Borrower or its Subsidiaries or the credit facilities provided hereunder or (ii) the CUSIP
Service Bureau or any similar agency in connection with the issuance and monitoring of CUSIP numbers or other market identifiers with respect to the credit facilities provided hereunder, (h) with the consent of the Borrower or (i) to the
extent such Information (x) becomes publicly available other than as a result of a breach of this Section or (y) becomes available to the Administrative Agent, any Lender, the Fronting Bank, the L/C Administrator or any of their respective
Affiliates on a nonconfidential basis from 

  
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a source other than the Borrower. For purposes of this Section, “Information” means all information received from the Borrower or any Subsidiary relating to the Borrower or any
Subsidiary or any of their respective businesses, other than any such information that is available to the Administrative Agent, any Lender, the L/C Administrator or the Fronting Bank on a nonconfidential basis prior to disclosure by the Borrower or
any Subsidiary, provided that, in the case of information received from the Borrower or any Subsidiary after the date hereof, such information is clearly identified at the time of delivery as confidential. Any Person required to maintain the
confidentiality of Information as provided in this Section shall be considered to have complied with its obligation to do so if such Person has exercised the same degree of care to maintain the confidentiality of such Information as such Person
would accord to its own confidential information. 
 Each of the Administrative Agent, the Lenders, the L/C Administrator and
the Fronting Bank acknowledges that (a) the Information may include material non-public information concerning the Borrower or a Subsidiary, as the case may be, (b) it has developed compliance procedures regarding the use of material
non-public information and (c) it will handle such material non-public information in accordance with applicable Law, including United States Federal and state securities Laws. 

10.08 Right of Setoff. If an Event of Default shall have occurred and be continuing, each Lender, the Fronting Bank, the L/C
Administrator and each of their respective Affiliates is hereby authorized at any time and from time to time, to the fullest extent permitted by applicable law, to set off and apply any and all deposits (general or special, time or demand,
provisional or final, in whatever currency) at any time held and other obligations (in whatever currency) at any time owing by such Lender, the Fronting Bank, and L/C Administrator or any such Affiliate to or for the credit or the account of the
Borrower against any and all of the obligations of the Borrower now or hereafter existing under this Agreement or any other Loan Document to such Lender, the L/C Administrator, the Fronting Bank or their respective Affiliates, irrespective of
whether or not such Lender, the L/C Administrator, the Fronting Bank or such Affiliate shall have made any demand under this Agreement or any other Loan Document and although such obligations of the Borrower may be contingent or unmatured or are
owed to a branch, office or Affiliate of such Lender, the L/C Administrator or the Fronting Bank different from the branch, office or Affiliate holding such deposit or obligated on such indebtedness; provided, that in the event that any Defaulting
Lender shall exercise any such right of setoff, (x) all amounts so set off shall be paid over immediately to the Administrative Agent for further application in accordance with the provisions of Section 2.15 and, pending such
payment, shall be segregated by such Defaulting Lender from its other funds and deemed held in trust for the benefit of the Administrative Agent, the Fronting Bank and the Lenders, and (y) the Defaulting Lender shall provide promptly to the
Administrative Agent a statement describing in reasonable detail the Obligations owing to such Defaulting Lender as to which it exercised such right of setoff. The rights of each Lender, the Fronting Bank, the L/C Administrator and their respective
Affiliates under this Section are in addition to other rights and remedies (including other rights of setoff) that such Lender, the Fronting Bank, the L/C Administrator or their respective Affiliates may have. Each Lender, the L/C Administrator and
the Fronting Bank agrees to notify the Borrower and the Administrative Agent promptly after any such setoff and application, provided that the failure to give such notice shall not affect the validity of such setoff and application.

  
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 10.09 Interest Rate Limitation. Notwithstanding anything to the contrary contained in
any Loan Document, the interest paid or agreed to be paid under the Loan Documents shall not exceed the maximum rate of non-usurious interest permitted by applicable Law (the “Maximum Rate”). If the Administrative Agent or any
Lender shall receive interest in an amount that exceeds the Maximum Rate, the excess interest shall be applied to the principal of the Loans or, if it exceeds such unpaid principal, refunded to the Borrower. In determining whether the interest
contracted for, charged, or received by the Administrative Agent or a Lender exceeds the Maximum Rate, such Person may, to the extent permitted by applicable Law, (a) characterize any payment that is not principal as an expense, fee, or premium
rather than interest, (b) exclude voluntary prepayments and the effects thereof, and (c) amortize, prorate, allocate, and spread in equal or unequal parts the total amount of interest throughout the contemplated term of the Obligations
hereunder. 
 10.10 Counterparts; Integration; Effectiveness. This Agreement may be executed in counterparts (and by
different parties hereto in different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract. This Agreement, the Fee Letters and the other Loan Documents constitute the
entire contract among the parties relating to the subject matter hereof and supersede any and all previous agreements and understandings, oral or written, relating to the subject matter hereof. Except as provided in Section 4.01, this
Agreement shall become effective when it shall have been executed by the Administrative Agent and when the Administrative Agent shall have received counterparts hereof that, when taken together, bear the signatures of each of the other parties
hereto. Delivery of an executed counterpart of a signature page of this Agreement by telecopy or other electronic imaging means (e.g. “pdf” or “tif”) shall be effective as delivery of a manually executed counterpart of this
Agreement. 
 10.11 Survival of Representations and Warranties. All representations and warranties made hereunder and in
any other Loan Document or other document delivered pursuant hereto or thereto or in connection herewith or therewith shall survive the execution and delivery hereof and thereof. Such representations and warranties have been or will be relied upon
by the Administrative Agent and each Lender, regardless of any investigation made by the Administrative Agent or any Lender or on their behalf and notwithstanding that the Administrative Agent or any Lender may have had notice or knowledge of any
Default at the time of any Credit Extension, and shall continue in full force and effect as long as any Loan or any other Obligation hereunder shall remain unpaid or unsatisfied or any Letter of Credit shall remain outstanding. 

10.12 Severability. If any provision of this Agreement or the other Loan Documents is held to be illegal, invalid or
unenforceable, (a) the legality, validity and enforceability of the remaining provisions of this Agreement and the other Loan Documents shall not be affected or impaired thereby and (b) the parties shall endeavor in good faith negotiations
to replace the illegal, invalid or unenforceable provisions with valid provisions the economic effect of which comes as close as possible to that of the illegal, invalid or unenforceable provisions. The invalidity of a provision in a particular
jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. Without limiting the foregoing provisions of this Section 10.12, if and to the extent that the enforceability of any provisions in this
Agreement relating to Defaulting Lenders shall be limited by Debtor Relief Laws, as determined in good faith by the Administrative Agent, the L/C Administrator or the Fronting Bank, as applicable, then such provisions shall be deemed to be in effect
only to the extent not so limited. 

  
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 10.13 Replacement of Lenders. If the Borrower is entitled to replace a Lender
pursuant to the provisions of Section 3.06, or if any Lender is a Defaulting Lender or a Non-Consenting Lender, then the Borrower may, at its sole expense and effort, upon notice to such Lender and the Administrative Agent, require such
Lender to assign and delegate, without recourse (in accordance with and subject to the restrictions contained in, and consents required by, Section 10.06), all of its interests, rights (other than its existing rights to payments pursuant
to Sections 3.01 and 3.04) and obligations under this Agreement and the related Loan Documents to an Eligible Assignee that shall assume such obligations (which assignee may be another Lender, if a Lender accepts such assignment),
provided that: 
 (a) the Borrower shall have paid to the Administrative Agent the assignment fee (if any) specified in
Section 10.06(b); 
 (b) such Lender shall have received payment of an amount equal to 100% of the outstanding principal
of its Loans and L/C Advances, accrued interest thereon, accrued fees and all other amounts payable to it hereunder and under the other Loan Documents (including any amounts under Section 3.05) from the assignee (to the extent of such
outstanding principal and accrued interest and fees) or the Borrower (in the case of all other amounts); 
 (c) in the case of
any such assignment resulting from a claim for compensation under Section 3.04 or payments required to be made pursuant to Section 3.01, such assignment will result in a reduction in such compensation or payments thereafter;

 (d) such assignment does not conflict with applicable Laws and 

(e) in the case of an assignment resulting from a Lender becoming a Non-Consenting Lender, the applicable assignee shall have consented
to the applicable amendment, waiver or consent. 
 A Lender shall not be required to make any such assignment or delegation if,
prior thereto, as a result of a waiver by such Lender or otherwise, the circumstances entitling the Borrower to require such assignment and delegation cease to apply. 
 10.14 Governing Law; Jurisdiction; Etc. 
 (a) GOVERNING LAW. THIS
AGREEMENT AND THE OTHER LOAN DOCUMENTS AND ANY CLAIMS, CONTROVERSY, DISPUTE OR CAUSE OF ACTION (WHETHER IN CONTRACT OR TORT OR OTHERWISE) BASED UPON, ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT (EXCEPT, AS TO ANY OTHER
LOAN DOCUMENT, AS EXPRESSLY SET FORTH THEREIN) AND THE TRANSACTIONS CONTEMPLATED HEREBY AND THEREBY SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK. 

  
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 (b) SUBMISSION TO JURISDICTION. THE BORROWER IRREVOCABLY AND UNCONDITIONALLY AGREES
THAT IT WILL NOT COMMENCE ANY ACTION, LITIGATION OR PROCEEDING OF ANY KIND OR DESCRIPTION, WHETHER IN LAW OR EQUITY, WHETHER IN CONTRACT OR IN TORT OR OTHERWISE, AGAINST THE ADMINISTRATIVE AGENT, ANY LENDER, THE L/C ISSUER, OR ANY RELATED PARTY OF
THE FOREGOING IN ANY WAY RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT OR THE TRANSACTIONS RELATING HERETO OR THERETO, IN ANY FORUM OTHER THAN THE COURTS OF THE STATE OF NEW YORK SITTING IN THE BOROUGH OF MANHATTAN AND OF THE UNITED STATES
DISTRICT COURT FOR THE SOUTHERN DISTRICT OF NEW YORK, AND ANY APPELLATE COURT FROM ANY THEREOF AND EACH OF THE PARTIES HERETO IRREVOCABLY AND UNCONDITIONALLY SUBMITS TO THE JURISDICTION OF SUCH COURTS AND AGREES THAT ALL CLAIMS IN RESPECT OF ANY
SUCH ACTION, LITIGATION OR PROCEEDING MAY BE HEARD AND DETERMINED IN SUCH NEW YORK STATE COURT OR, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, IN SUCH FEDERAL COURT. EACH OF THE PARTIES HERETO AGREES THAT A FINAL JUDGMENT IN ANY SUCH ACTION,
LITIGATION OR PROCEEDING SHALL BE CONCLUSIVE AND MAY BE ENFORCED IN OTHER JURISDICTIONS BY SUIT ON THE JUDGMENT OR IN ANY OTHER MANNER PROVIDED BY LAW. NOTHING IN THIS AGREEMENT OR IN ANY OTHER LOAN DOCUMENT SHALL AFFECT ANY RIGHT THAT THE
ADMINISTRATIVE AGENT, ANY LENDER, THE L/C ADMINISTRATOR OR THE FRONTING BANK MAY OTHERWISE HAVE TO BRING ANY ACTION OR PROCEEDING RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT AGAINST THE BORROWER OR ITS PROPERTIES IN THE COURTS OF ANY
JURISDICTION. 
 (c) WAIVER OF VENUE. THE BORROWER IRREVOCABLY AND UNCONDITIONALLY WAIVES, TO THE FULLEST EXTENT
PERMITTED BY APPLICABLE LAW, ANY OBJECTION THAT IT MAY NOW OR HEREAFTER HAVE TO THE LAYING OF VENUE OF ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT IN ANY COURT REFERRED TO IN PARAGRAPH (B) OF
THIS SECTION. EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, THE DEFENSE OF AN INCONVENIENT FORUM TO THE MAINTENANCE OF SUCH ACTION OR PROCEEDING IN ANY SUCH COURT. 

(d) SERVICE OF PROCESS. EACH PARTY HERETO IRREVOCABLY CONSENTS TO SERVICE OF PROCESS IN THE MANNER PROVIDED FOR NOTICES IN
SECTION 10.02. NOTHING IN THIS AGREEMENT WILL AFFECT THE RIGHT OF ANY PARTY HERETO TO SERVE PROCESS IN ANY OTHER MANNER PERMITTED BY APPLICABLE LAW. 
 10.15 Waiver of Jury Trial. EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY
OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY OR 

  
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THEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY). EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PERSON HAS REPRESENTED, EXPRESSLY OR
OTHERWISE, THAT SUCH OTHER PERSON WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS
BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION. 
 10.16 No Advisory or Fiduciary
Responsibility. In connection with all aspects of each transaction contemplated hereby (including in connection with any amendment, waiver or other modification hereof or of any other Loan Document), the Borrower acknowledges and agrees that:
(i) (A) the arranging and other services regarding this Agreement provided by the Administrative Agent and the Arrangers are arm’s-length commercial transactions between the Borrower and its Affiliates, on the one hand, and the
Administrative Agent and each Arranger on the other hand, (B) the Borrower has consulted its own legal, accounting, regulatory and tax advisors to the extent it has deemed appropriate, and (C) the Borrower is capable of evaluating, and
understands and accepts, the terms, risks and conditions of the transactions contemplated hereby and by the other Loan Documents; (ii) (A) the Administrative Agent and each Arranger each is and has been acting solely as a principal and,
except as expressly agreed in writing by the relevant parties, has not been, is not, and will not be acting as an advisor, agent or fiduciary for the Borrower or any of its Affiliates, or any other Person and (B) neither the Administrative
Agent nor either Arranger has any obligation to the Borrower or any of its Affiliates with respect to the transactions contemplated hereby except those obligations expressly set forth herein and in the other Loan Documents; and (iii) the
Administrative Agent and the Arrangers and their respective Affiliates may be engaged in a broad range of transactions that involve interests that differ from those of the Borrower and its Affiliates, and neither the Administrative Agent nor either
Arranger has any obligation to disclose any of such interests to the Borrower or any of its Affiliates. To the fullest extent permitted by law, the Borrower hereby waives and releases any claims that it may have against the Administrative Agent or
either Arranger with respect to any breach or alleged breach of agency or fiduciary duty in connection with any aspect of any transaction contemplated hereby. 
 10.17 Electronic Execution of Assignments and Certain Other Documents. The words “execute,” “execution,” “signed,” “signature,” and words of like import in
any Assignment and Assumption or in any amendment or other modification hereof (including waivers and consents) shall be deemed to include electronic signatures, the electronic matching of assignment terms and contract formations on electronic
platforms approved by the Administrative Agent, or the keeping of records in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature or the use of a paper-based recordkeeping
system, as the case may be, to the extent and as provided for in any applicable law, including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records Act, or any other similar
state laws based on the Uniform Electronic Transactions Act. 

  
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 10.18 USA PATRIOT Act. Each Lender that is subject to the Act (as hereinafter
defined) and the Administrative Agent (for itself and not on behalf of any Lender) hereby notifies the Borrower that pursuant to the requirements of the USA PATRIOT Act (Title III of Pub. L. 107-56 (signed into law October 26, 2001)) (the
“Act”), it is required to obtain, verify and record information that identifies the Borrower, which information includes the name and address of the Borrower and other information that will allow such Lender or the Administrative Agent, as
applicable, to identify the Borrower in accordance with the Act. The Borrower shall, promptly following a request by the Administrative Agent or any Lender, provide all documentation and other information that the Administrative Agent or such Lender
requests in order to comply with its ongoing obligations under applicable “know your customer” and anti-money laundering rules and regulations, including the Act. 
 10.19 ENTIRE AGREEMENT. THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS REPRESENT THE FINAL AGREEMENT AMONG THE PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS, OR SUBSEQUENT
ORAL AGREEMENTS OF THE PARTIES. THERE ARE NO UNWRITTEN ORAL AGREEMENTS AMONG THE PARTIES. 
 10.20 Judgment Currency. If,
for the purposes of obtaining judgment in any court, it is necessary to convert a sum due hereunder or any other Loan Document in one currency into another currency, the rate of exchange used shall be that at which in accordance with normal banking
procedures the Administrative Agent could purchase the first currency with such other currency on the Business Day preceding that on which final judgment is given. The obligation of the Borrower in respect of any such sum due from it to the
Administrative Agent or the Lenders hereunder or under the other Loan Documents shall, notwithstanding any judgment in a currency (the “Judgment Currency”) other than that in which such sum is denominated in accordance with the
applicable provisions of this Agreement (the “Agreement Currency”), be discharged only to the extent that on the Business Day following receipt by the Administrative Agent of any sum adjudged to be so due in the Judgment Currency,
the Administrative Agent may in accordance with normal banking procedures purchase the Agreement Currency with the Judgment Currency. If the amount of the Agreement Currency so purchased is less than the sum originally due to the Administrative
Agent from the Borrower in the Agreement Currency, the Borrower agrees, as a separate obligation and notwithstanding any such judgment, to indemnify the Administrative Agent or the Person to whom such obligation was owing against such loss. If the
amount of the Agreement Currency so purchased is greater than the sum originally due to the Administrative Agent in such currency, the Administrative Agent agrees to return the amount of any excess to the Borrower (or to any other Person who may be
entitled thereto under applicable Law). 
 10.21 Effect of Restatement. This Agreement amends and restates and supersedes
and replaces the Existing Credit Agreement. The parties hereto acknowledge and agree that (a) this Agreement and the other Loan Documents executed and delivered in connection herewith do not constitute a novation, payment and reborrowing, or
termination of the obligations under the Existing Agreements as in effect prior to the date hereof; (b) such obligations are in all respects continuing (as amended and restated and superseded and replaced hereby) with only the terms

  
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being modified as provided in this Agreement and in the Loan Documents; and (c) upon the effectiveness of this Agreement all loans outstanding under the Existing Agreements immediately
before the effectiveness of this Agreement will be Loans made hereunder on the terms and conditions set forth in this Agreement. 

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

			
	TOWER GROUP, INC.
		
	By:	 	 /s/ William E. Hitselberger

		
	Name:	 	 William E. Hitselberger

		
	Title:	 	 Executive Vice President and CFO

  
 S - 1

			
	 BANK OF AMERICA, N.A., as
 Administrative Agent, L/C Administrator, Fronting Bank and Lender

		
	By:	 	 /s/ Debra L. Basler

		
	Name:	 	 Debra L. Basler

		
	Title:	 	 Managing Director

  
 S - 2

			
	JPMORGAN CHASE BANK, N.A.
		
	By:	 	 /s/ Thomas A. Kiepura

		
	Name:	 	 Thomas A. Kiepura

		
	Title:	 	 Vice President

  
 S - 3

			
	KEYBANK NATIONAL ASSOCIATION
		
	By:	 	 /s/ Matthew A. Lambes

		
	Name:	 	 Matthew A. Lambes

		
	Title:	 	 Vice President

  
 S - 4

			
	PNC BANK NATIONAL ASSOCIATION
		
	By:	 	 /s/ William R. McDonnell

		
	Name:	 	 William R. McDonnell

		
	Title:	 	 Senior Vice President

  
 S - 5

			
	WELLS FARGO BANK, N.A.
		
	By:	 	 /s/ David Bendel

		
	Name:	 	 David Bendel

		
	Title:	 	 Director

  
 S - 6

			
	THE NORTHERN TRUST COMPANY
		
	By:	 	 /s/ Michael J. Kingsley

		
	Name:	 	 Michael J. Kingsley

		
	Title:	 	 Senior Vice President

  
 S - 7Second Amendment to Lease

 Exhibit 10.18 
 SECOND AMENDMENT TO LEASE 
 Definitions: 

 

			
	Effective Date:	  	November 7, 2011.
		
	Landlord:	  	President and Fellows of Harvard College, a Massachusetts educational and charitable corporation.
		
	Tenant:	  	athenahealth, Inc., a Delaware corporation.
		
	Lease:	  	Lease between Landlord, as landlord, and Tenant, as tenant, dated as of November 8, 2004, as amended by First Amendment to Lease dated as of May 16, 2011 (the “First
Amendment”).
		
	Existing Premises:	  	The Original Premises and the First Amendment Expansion Premises.
		
	Original Premises:	  	All of Building 97 and portions of the second and third floors of Building 311, containing approximately 133,616 rentable square feet of space in total, all as more particularly
described in the Lease.
		
	First Amendment	  	
	Expansion Premises:	  	A portion of the third floor of Building 311 containing approximately 18,000 rentable square feet of space, as more particularly described in the First Amendment.
		
	Expansion Premises:	  	The Alzheimer’s Expansion Premises and the A&G Expansion Premises.
		
	Alzheimer’s Expansion	  	
	Premises:	  	A portion of the fourth floor of Building 311 containing approximately 12,000 rentable square feet of space, as more particularly described on Exhibit A attached
hereto.
	A&G Expansion	  	
	Premises:	  	A portion of the fourth floor of Building 311 containing approximately 24,347 rentable square feet of space, as more particularly described on Exhibit B attached
hereto.
		
	Alzheimer’s Expansion	  	
	Premises Commencement Date:	  	May 1, 2012, provided that Tenant has delivered to Landlord certificates of insurance evidencing that Tenant is carrying all coverages required to be carried by Tenant with respect
to the Alzheimer’s Expansion Premises pursuant to Section 5.1.20 of the Lease, or such later date as Landlord shall deliver the Alzheimer’s Expansion Premises to Tenant.

			
	A&G Expansion Premises	  	
	Commencement Date:	  	September 1, 2012, provided that Tenant has delivered to Landlord certificates of insurance evidencing that Tenant is carrying all coverages required to be carried by Tenant with
respect to the A&G Expansion Premises pursuant to Section 5.1.20 of the Lease, or such later date as Landlord shall deliver the Alzheimer’s Expansion Premises to Tenant.
		
	Alzheimer’s Expansion Premises
Rent Commencement Date:	  	The Alzheimer’s Expansion Premises Commencement Date.
		
	A&G Expansion Premises Rent
Commencement Date:	  	The A&G Expansion Premises Rent Commencement Date.

 All capitalized terms not otherwise defined herein shall have the meanings set forth in the Lease.

 BACKGROUND: 
 Tenant desires to expand the Existing Premises, and Landlord has agreed to such expansion upon the terms and conditions set forth below, and provided certain other revisions are made to the Lease, all as
set forth more particularly below. 
 Landlord and Tenant hereby agree as follows: 

1. Expansion Premises: Landlord will deliver the Alzheimer’s Expansion Premises to Tenant as of the Alzheimer’s
Expansion Premises Commencement Date and Landlord will deliver the A&G Expansion Premises to Tenant as of the A&G Expansion Premises Commencement Date, and Tenant agrees to accept the Expansion Premises in their AS-IS condition, and Landlord
shall have no obligation to do any work or make any installation or alterations of any kind to the Expansion Premises, except as follow: 
  

	 	(a)	Prior to the Alzheimer’s Expansion Premises Commencement Date and the A&G Expansion Premises Commencement Date, as applicable, the Landlord, at its sole cost
and expense, will, with respect to the Alzheimer’s Expansion Premises and the A&G Expansion Premises, respectively, remove (i) all workstations, chairs and office furniture from the premises, and (ii) remove all racks electronic
equipment (other than lighting and in-wall cabling) and supplementary cooling systems and equipment from “LAN” and data rooms. 

  

	 	(b)	All mechanical, electrical, plumbing and ventilation systems (except for supplementary cooling systems and equipment in “LAN” and data rooms) serving the
Alzheimer’s Expansion Premises and the A&G Expansion Premises, which, under the terms of the Lease, are to be kept and maintained by Landlord, shall be delivered in good working order on the Alzheimer’s Expansion Premises Commencement
Date and the A&G Expansion Premises Commencement Date, as applicable. 

  
 -2-

	 	(c)	In the event that the Alzheimer’s Expansion Premises or the A&G Expansion Premises are vacant in advance of the Alzheimer’s Expansion Premises
Commencement Date or the A&G Expansion Premises Commencement Date, as applicable, Landlord shall grant Tenant early access to such premises for purposes of planning, design, demolition and site preparation provided that all such activity will be
in accordance with all relevant terms and provisions of the Expansion Premises Work Letter attached hereto as Exhibit C and all other terms and conditions of the Lease. 

 

	 	(d)	If the Alzheimer’s Expansion Premises Commencement Date has not occurred on or prior to September 1, 2012, then Tenant shall have the right to terminate this
Lease with respect to the Alzheimer’s Expansion Premises by delivering written notice of termination to Landlord on or prior to September 15, 2012. If the A&G Expansion Premises Commencement Date has not occurred on or prior to
January 1, 2013, then Tenant shall have the right to terminate this Lease with respect to the A&G Expansion Premises by delivering written notice of termination to Landlord on or prior to January 15, 2012. As an inducement to Tenant
entering this Amendment, Landlord agrees that: (A) if the Alzheimer’s Expansion Premises Commencement Date does not occur on or prior to May 1, 2012, then Landlord shall pay to Tenant one-sixth (1/6) of any amounts actually
received by Landlord as “holdover rent” (excluding any amounts received by Landlord in respect of any indemnification claims) from the tenant pursuant to that certain Lease by and between Landlord, as landlord, and Alzheimer’s Disease
and Related Disorders Association, Massachusetts Chapter, Inc., as tenant, dated as of November 29, 2004; and (B) if the A&G Expansion Premises Commencement Date does not occur on or prior to September 1, 2012, then Landlord shall
pay to Tenant one-sixth (1/6) of any amounts actually received by Landlord as “holdover rent” (excluding any amounts received by Landlord in respect of any indemnification claims) from the tenant pursuant to that certain Lease by and
between Landlord, as landlord, and Allen & Gerritson, Inc., as tenant, dated as of July 22, 2003. 

2. Amended Definitions: 
 (a) As of the Alzheimer’s Expansion Premises Commencement Date the following terms wherever they appear in the Lease shall have the following meanings: 

Premises: All references to the Premises shall mean the Existing Premises and the Alzheimer’s Expansion Premises. All
references to Premises after the expiration or termination of the Lease Term with respect to a portion of the Premises shall mean the portion of the Premises for which the Lease Term has not expired or terminated. 

Initial Lease Term: With respect to the Original Premises, the period commencing on the Lease Commencement Date and ending on the
Lease Expiration Date, unless sooner terminated as provided in this Lease. With respect to the First Amendment Expansion Premises, the period commencing on the First Amendment Expansion Premises Commencement Date and ending on the First Amendment
Expansion Premises Lease Expiration Date. With respect to the Alzheimer’s Expansion Premises, the period commencing on the Alzheimer’s Expansion Premises Commencement Date and ending on the Alzheimer’s Premises Lease Expiration Date.

  
 -3-

 Alzheimer’s Expansion Premises Lease Expiration Date: June 30, 2016, or
such earlier or later date upon which the Lease Term with respect to the Alzheimer’s Expansion Premises may expire, be terminated or extended pursuant to any of the conditions or other provisions of this Lease or pursuant to law. 

Lease Year: With respect to the Original Premises, the period running from the Lease Commencement Date to the first anniversary of
the Rent Commencement Date and thereafter a Lease Year shall mean the successive year-long period commencing on an anniversary of the Rent Commencement Date. With respect to the First Amendment Expansion Premises and the Alzheimer’s Expansion
Premises, the period running from the First Amendment Expansion Premises Commencement Date and the Alzheimer’s Expansion Premises Commencement Date, as applicable, to June 30, 2012 and thereafter a Lease Year shall mean the successive
year-long period commencing on July 1st. Rent shall be prorated for any Lease Year that is shorter or longer than one year. 

Tenant’s Share of Parking Spaces: 425 unreserved parking spaces located in the parking areas of the Complex, to be used in
accordance with Section 2.7. 
 Basic Rent: Original Premises Basic Rent, First Amendment Expansion Premises Basic
Rent and Alzheimer’s Expansion Premises Basic Rent. 
 Original Premises Basic Rent: 

 

									
	 Period
	  	Annual
Basic Rent	 	  	Monthly
Basic Rent	 
	 7/01/05 - 6/30/06
	  	$	2,924,854.24	  	  	$	243,737.85	  
	 7/01/06 - 6/30/07
	  	$	3,025,066.24	  	  	$	252,088.85	  
	 7/01/07 - 6/30/08
	  	$	3,125,278.24	  	  	$	260,439.85	  
	 7/01/08 - 6/30/09
	  	$	3,225,490.24	  	  	$	268,790.85	  
	 7/01/09 - 6/30/10
	  	$	3,325,702.24	  	  	$	277,141.85	  
	 7/01/10 - 6/30/11
	  	$	3,459,318.24	  	  	$	288,276.52	  
	 7/01/11 - 6/30/12
	  	$	3,592,934.24	  	  	$	299,411.19	  
	 7/01/12 - 6/30/13
	  	$	3,726,550.24	  	  	$	310,545.85	  
	 7/01/13 - 6/30/14
	  	$	3,860,166.24	  	  	$	321,680.52	  
	 7/01/14 - 6/30/15
	  	$	3,993,782.24	  	  	$	332,815.19	  

 First Amendment Expansion Premises Basic Rent: 

 

									
	 Period
	  	Annual
Basic Rent	 	  	Monthly
Basic Rent	 
	 10/01/11 - 6/30/12
	  	$	484,020.00	  	  	$	40,335.00	  
	 7/01/12 - 6/30/13
	  	$	502,020.00	  	  	$	41,835.00	  
	 7/01/13 - 6/30/14
	  	$	520,020.00	  	  	$	43,335.00	  
	 7/01/14 - 6/30/15
	  	$	538,020.00	  	  	$	44,835.00	  

  
 -4-

 Alzheimer’s Expansion Premises Basic Rent: 

 

					
	 Period
	  	Annual Basic
Rent	  	Monthly
Basic Rent
	05/01/12 - 6/30/12	  	$53,780.00	  	$26,890.00
	07/01/12 - 6/30/13	  	$334,680.00	  	$27,890.00
	07/01/13 - 6/30/14	  	$346,680.00	  	$28,890.00
	07/01/14- 6/30/15	  	$358,680.00	  	$29,890.00
	07/01/15 - 6/30/16	  	$370,680.00	  	$30,890.00

 Tenant’s Operating Cost Share: With respect to Original Premises, 100% of Building Operating
Costs for Building 97 and 29.84% of Building Operating Costs for Building 311 (the percentage calculated by dividing the rentable square feet of the Building 311 Premises (112,616) by the rentable square feet of the Building 311
(377,340) and multiplying the resulting quotient by 100). With respect to the First Amendment Expansion Premises, 4.77% (the percentage calculated by dividing the rentable square feet of the First Amendment Expansion Premises (18,000) by
the rentable square feet of the Building 311 (377,340) and multiplying the resulting quotient by 100). With respect to the Alzheimer’s Expansion Premises, 3.18% (the percentage calculated by dividing the rentable square feet of the First
Amendment Expansion Premises (12,000) by the rentable square feet of the Building 311 (377,340) and multiplying the resulting quotient by 100). 
 Tenant’s Tax Share: With respect to the Existing Premises, the Tenant’s Tax Share shall mean 17.98% (the percentage calculated by dividing the rentable square feet of the Existing
Premises (133,616) by the rentable square feet of the Complex (743,176) and multiplying the resulting quotient by 100). With respect to the First Amendment Expansion Premises, the Tenant’s Tax Share shall mean 2.42% (the percentage
calculated by dividing the rentable square feet of the Expansion Premises (18,000) by the rentable square feet of the Complex (743,176) and multiplying the resulting quotient by 100). With respect to the Alzheimer’s Expansion
Premises, the Tenant’s Tax Share shall mean 1.61% (the percentage calculated by dividing the rentable square feet of the Expansion Premises (12,000) by the rentable square feet of the Complex (743,176) and multiplying the resulting
quotient by 100). 
 (b) As of the A&G Expansion Premises Commencement Date the following terms wherever they
appear in the Lease shall have the following meanings: 
 Premises: All references to the Premises shall mean the Existing
Premises, the Alzheimer’s Expansion Premises and the A&G Expansion Premises. All references to Premises after the expiration or termination of the Lease Term with respect to a portion of the Premises shall mean the portion of the Premises
for which the Lease Term has not expired or terminated. 
 Initial Lease Term: With respect to the Original Premises, the
period commencing on the Lease Commencement Date and ending on the Lease Expiration Date, unless sooner terminated as provided in this Lease. With respect to the First Amendment Expansion Premises, the period commencing on the First Amendment
Expansion Premises 

  
 -5-

 
Commencement Date and ending on the First Amendment Expansion Premises Lease Expiration Date. With respect to the Alzheimer’s Expansion Premises, the period commencing on the
Alzheimer’s Expansion Premises Commencement Date and ending on the Alzheimer’s Expansion Premises Lease Expiration Date. With respect to the A&G Expansion Premises, the period commencing on the A&G Expansion Premises Commencement
Date and ending on the A&G Expansion Premises Lease Expiration Date. 
 A&G Expansion Premises Lease Expiration Date:
June 30, 2016, or such earlier or later date upon which the Lease Term with respect to the A&G Expansion Premises may expire, be terminated or extended pursuant to any of the conditions or other provisions of this Lease or pursuant to
law. 
 Lease Year: With respect to the Original Premises, the period running from the Lease Commencement Date to the
first anniversary of the Rent Commencement Date and thereafter a Lease Year shall mean the successive year-long period commencing on an anniversary of the Rent Commencement Date. With respect to the First Amendment Expansion Premises and the
Alzheimer’s Expansion Premises, the period running from the First Amendment Expansion Premises Commencement Date or the Alzheimer’s Expansion Premises Commencement Date, as applicable, to June 30, 2012 and thereafter a Lease Year
shall mean the successive year-long period commencing on July 1st. With respect to the A&G Expansion Premises, the period running from the A&G Expansion Premises Commencement Date to June 30, 2013 and thereafter a Lease Year shall
mean the successive year-long period commencing on July 1st. Rent shall be prorated for any Lease Year that is shorter or longer than one year. 
 Tenant’s Share of Parking Spaces: 489 unreserved parking spaces located in the parking areas of the Complex, to be used in accordance with Section 2.7. 

Basic Rent: Existing Premises Basic Rent, First Amendment Expansion Premises Basic Rent, the Alzheimer’s Expansion Premises
Basic Rent and the A&G Expansion Premises Basic Rent. 
 Existing Premises Basic Rent: See above. 

First Amendment Expansion Premises Basic Rent: See above. 
 Alzheimer’s Expansion Premises Basic Rent: See above. 
 A&G Expansion
Premises Basic Rent. 
  

					
	 Period
	  	Annual
Basic Rent	  	Monthly
Basic Rent
	09/01/12 - 6/30/13	  	$565,864.86	  	$56,586.49
	07/01/13 - 6/30/14	  	$703,384.83	  	$58,615.40
	07/01/14- 6/30/15	  	$727,731.83	  	$60,644.32
	07/01/15 - 6/30/16	  	$752,078.83	  	$62,673.24

  
 -6-

 Tenant’s Operating Cost Share: With respect to Original Premises, 100% of
Building Operating Costs for Building 97 and 29.84% of Building Operating Costs for Building 311 (the percentage calculated by dividing the rentable square feet of the Building 311 Premises (112,616) by the rentable square feet of the Building
311 (377,340) and multiplying the resulting quotient by 100). With respect to the First Amendment Expansion Premises, 4.77% (the percentage calculated by dividing the rentable square feet of the First Amendment Expansion Premises
(18,000) by the rentable square feet of the Building 311 (377,340) and multiplying the resulting quotient by 100). With respect to the Alzheimer’s Expansion Premises, 3.18% (the percentage calculated by dividing the rentable square
feet of the First Amendment Expansion Premises (12,000) by the rentable square feet of the Building 311 (377,340) and multiplying the resulting quotient by 100). With respect to the A&G Expansion Premises, 6.48% (the percentage
calculated by dividing the rentable square feet of the First Amendment Expansion Premises (24,347) by the rentable square feet of the Building 311 (377,340) and multiplying the resulting quotient by 100). 

Tenant’s Tax Share: With respect to the Existing Premises, the Tenant’s Tax Share shall mean 17.98% (the percentage
calculated by dividing the rentable square feet of the Existing Premises (133,616) by the rentable square feet of the Complex (743,176) and multiplying the resulting quotient by 100). With respect to the First Amendment Expansion Premises,
the Tenant’s Tax Share shall mean 2.42% (the percentage calculated by dividing the rentable square feet of the Expansion Premises (18,000) by the rentable square feet of the Complex (743,176) and multiplying the resulting quotient by
100). With respect to the Alzheimer’s Expansion Premises, the Tenant’s Tax Share shall mean 1.61% (the percentage calculated by dividing the rentable square feet of the Expansion Premises (12,000) by the rentable square feet of the
Complex (743,176) and multiplying the resulting quotient by 100). With respect to the Alzheimer’s Expansion Premises, the Tenant’s Tax Share shall mean 3.28% (the percentage calculated by dividing the rentable square feet of the
Expansion Premises (24,347) by the rentable square feet of the Complex (743,176) and multiplying the resulting quotient by 100). 
 3. Tenant’s Work. Tenant shall perform the Tenant’s Work (as defined in the Expansion Premises Work Letter) in accordance with the terms and provisions of the Expansion Premises
Work Letter attached hereto as Exhibit C. 
 4. Broker. Tenant and Landlord each warrants and represents to
the other that it has not dealt with any broker other than Beal and Company, Inc. and Avison Young, New England (the “Brokers”) in connection with this Amendment. In the event of any brokerage claims against Landlord (excluding
claims made by the Brokers) or Tenant predicated on prior dealings by the other party hereto with the maker of such claims, the party alleged to have had such prior dealings shall defend, indemnify, and hold the other party harmless against all loss
and expense incurred by it (including reasonable attorneys’ fees). Landlord shall be responsible for any brokerage commission payable to the Brokers pursuant to a separate agreement. 

5. Ratification. Except as expressly modified by this Amendment, the Lease shall remain in full force and effect, and as
further modified by this Amendment, is expressly ratified and confirmed by the parties hereto. 

  
 -7-

 6. Miscellaneous. This Amendment (i) contains the entire agreement with
respect to the subject matter hereof; (ii) may not be modified or terminated, nor may any provision hereof be waived, orally or in any manner other than by an agreement in writing signed by the parties hereto or their respective successors, and
assigns; (iii) shall be governed by and construed in accordance with the laws of The Commonwealth of Massachusetts; (iv) may be executed in multiple counterparts, each of which individually shall be deemed an original and all of which
together shall constitute a single original agreement; and (v) shall inure to the benefit of, and be binding upon, the parties hereto, and their successors, and assigns, subject to the provisions of the Lease regarding assignment and
subletting. Any termination of the Lease shall also terminate and render void all rights of Tenant under this Amendment. Tenant’s rights under this Amendment may not be severed from the Lease or separately sold, separately assigned, or
separately transferred. 
 [Remainder of Page Left Intentionally Blank] 

  
 -8-

 IN WITNESS WHEREOF, Landlord and Tenant have executed this Amendment under seal effective as
of the Effective Date. 
  

			
	 PRESIDENT AND FELLOWS
 OF HARVARD COLLEGE

		
	By:	 	 /s/ Lisa Hogarty

		 	Name: Lisa Hogarty
		 	Title: Vice President for Campus Services
		
	By:	 	 /s/ Carolee Hill

		 	Name: Carolee Hill
		 	Title: Managing Director, University and Commercial Real Estate
	
	ATHENAHEALTH, INC.
		
	By:	 	 /s/ Timothy M. Adams

		 	Name: Timothy M. Adams
		 	Title: Chief Financial Officer

 EXHIBIT A 
 ALZHEIMER’S EXPANSION PREMISES 

 

 

 EXHIBIT B 
 A&G EXPANSION PREMISES 

 

 

 EXHIBIT C 

EXPANSION PREMISES WORK LETTER 
  

					
	LANDLORD:	  	President and Fellows of Harvard College	  	
			
	TENANT:	  	athenahealth, Inc.	  	

 1. Definitions. Capitalized terms used in this Exhibit and not otherwise defined shall have the
meanings set forth in the Lease dated as of November 8, 2004, as amended by the First Amendment to Lease dated as of May 16, 2011, as amended by the Second Amendment to Lease dated as of October     , 2011. The
following capitalized terms shall have the meanings set forth below: 
 Architect: A licensed
architect to be approved by Landlord, such approval not to be unreasonably withheld or delayed. 
 Building
Permit: With respect to each of the Alzheimer’s Expansion Premises and the A&G Expansion Premises, a building permit issued by the Town of Watertown on the basis of Tenant’s Plans. 

Certificate of Occupancy: With respect to each of the Alzheimer’s Expansion Premises and the A&G
Expansion Premises, a certificate of occupancy (temporary or permanent) for the Premises issued by the Town of Watertown. 
 Construction Guidelines: The architectural, engineering, and construction guidelines for the Complex attached hereto as Schedule B. 

Construction Budget: With respect to each of the Alzheimer’s Expansion Premises and the A&G
Expansion Premises, a written budget for the applicable Tenant’s Work that contains a detailed line by line breakdown of all hard and soft costs (limited to the Construction Contract, architectural, engineering fees, and all requisite
consulting fees, construction manager’s expenses, permit fees, payment, performance, and lien bond premiums, material testing, equipment start-up and building commissioning costs, utility company billings, and all other costs needed to
construct the applicable Tenant’s Work). 
 Design/Development Plans: With respect to
each of the Alzheimer’s Expansion Premises and the A&G Expansion Premises, a set of design/development progress plans prepared by the Architect for the applicable Tenant’s Work. 

Engineers: Collectively, all acoustical, structural, heating, ventilation, air conditioning, plumbing, fire
protection, civil and electrical engineers licensed in The Commonwealth of Massachusetts retained by Tenant, Architect or General Contractor to design, supervise or perform the Tenant’s Work. All Engineers shall be approved by Landlord, such
approval not to be unreasonably withheld or delayed. 
 Final Construction Plans: With respect
to each of the Alzheimer’s Expansion Premises and the A&G Expansion Premises, a full set of final construction plans for the applicable Tenant’s Work prepared by the Architect and identified in the applicable Landlord Approval Letter.

 General Contractor: A licensed general contractor to be
approved by Landlord, such approval not to be unreasonably withheld or delayed. 
 Landlord Approval
Letter: With respect to each of the Alzheimer’s Expansion Premises and the A&G Expansion Premises, a letter agreement between Landlord and Tenant approving the applicable Final Construction Plans in the form attached hereto as
Schedule A. 
 Landlord’s Contribution: With respect to the Alzheimer’s
Expansion Premises, an allowance of up to a maximum amount of $180,000.00, and with respect to the A&G Expansion Premises, an allowance of up to a maximum amount of $365,205.00, in each case that Landlord shall provide to Tenant for
reimbursement of costs in connection with the applicable Tenant’s Work, subject to the terms and conditions set forth in Section 4 below. 
 Lien Wavers: Partial lien waivers and subordinations of lien from all vendors, contractors and sub-contractors supplying labor or materials in connection with Tenant’s Work, as
specified in M.G.L. Chapter 254, Section 32. 
 Outside Work Completion Date: With respect to
the Alzheimer’s Expansion Premises, August 31, 2012, and with respect to the A&G Expansion Premises, December 31, 2012. 
 Payment Conditions: See Section 4.3. 

Alzheimer’s Expansion Premises: A portion of the fourth floor of Building 311 containing approximately
12,000 rentable square feet of space, as more particularly described in Exhibit A to the Second Amendment to Lease. 
 A&G Expansion Premises: A portion of the fourth floor of Building 311 containing approximately 24,347 rentable square feet of space, as more particularly described in Exhibit B to
the Second Amendment to Lease. 
 Substantial Completion Certificate: With respect to each of
the Alzheimer’s Expansion Premises and the A&G Expansion Premises, a certificate signed by the Architect on an AIA form stating that the applicable Tenant’s Work has been substantially completed in accordance with the applicable Final
Construction Plans, with the exception of minor items of incomplete work and so-called “punchlist” items. 
 Substantial Completion Date: With respect to each of the Alzheimer’s Expansion Premises and the A&G Expansion Premises, the later of the (i) the date that Tenant delivers
the applicable Substantial Completion Certificate to Landlord; or (ii) the date the applicable Certificate of Occupancy is issued. 
 Tenant’s Permitted Expenses: See Section 4.1. 
 Tenant’s Plans: Collectively, with respect to each of the Alzheimer’s Expansion Premises and the A&G Expansion Premises, the applicable Design/Development Plans and the
applicable Final Construction Plans. The term “Tenant’s Plans” shall also include any revisions to those plans approved by Landlord in accordance with Section 2.1 below. 

  
 -2-

 Tenant’s Work: The leasehold improvement work
necessary to prepare the Alzheimer’s Expansion Premises and the A&G Expansion Premises, as applicable, for occupancy by Tenant, and described in applicable Tenant’s Plans. 
 2. Tenant’s Plans. Tenant will submit to Landlord for Landlord’s written approval by no later than 15 days after the Alzheimer’s Expansion Premises Commencement Date and the
A&G Expansion Premises Commencement Date, as applicable, a set of the applicable Design/Development Plans. Tenant shall submit to Landlord for Landlord’s written approval, the applicable Final Construction Plans by no later than 20 days
after the date of Landlord’s approval of the applicable Design/Development Plans. Landlord shall either approve or disapprove of such Design/Development Plans and such Final Construction Plans, respectively, within 10 Business Days of
Landlord’s receipt of such plans, and, in the event of any disapproval of such plans, Landlord will provide Tenant with a summary of the material reasons for disapproval, and a detailed description of the changes that will be required before
Landlord will reconsider approving the same. If necessary, Tenant shall promptly cause such the applicable Design/Development Plans or the applicable Final Construction Plans to be modified to address with Landlord’s reasonable requests.
Landlord’s approval of the applicable Final Construction Plans shall not be unreasonably withheld, or delayed, provided that they are consistent with the Construction Guidelines (to the extent they are applicable to the Building) and the
applicable Design Development Plans approved by Landlord. At such time as the applicable Final Construction Plans are completed and approved by Landlord, Landlord and Tenant shall each execute and deliver a Landlord Approval Letter, reciting such
approval and definitively identifying the applicable Final Construction Plans so approved, and a copy of such letter shall be appended to each counterpart of the Lease. Each Landlord Approval Letter shall also list any elements of the applicable
Tenant’s Work that Tenant shall remove at the end of the Lease Term in accordance with Section 5.1.4. of the Lease. After execution of a Landlord Approval Letter, any material changes to the applicable Tenant’s Plans shall require
Landlord’s prior written approval, such approval to follow the procedure outlined in this Section above. Upon issuance of the applicable Landlord Approval Letter, Tenant shall promptly obtain the applicable Building Permit. 

Any approval granted by Landlord under this Section 2 shall be granted solely for the benefit of Landlord, and neither Tenant nor
any third party shall have the right to rely upon Landlord’s approval of any of the applicable Tenant’s Plans for any other purpose whatsoever. Without limiting the foregoing, Tenant shall be responsible for all elements of the design of
Tenant’s Work (including, without limitation, the compliance of the Tenant’s Work and Tenant’s Plans with Legal Requirements, functionality of design, the structural integrity of the design, the configuration and demising of the
Alzheimer’s Expansion Premises and the A&G Expansion Premises, as applicable, and the placement of Tenant’s furniture, appliances and equipment), and Landlord’s approval of the applicable Tenant’s Plans shall in no event
relieve Tenant of the responsibility therefor. 
 3. Tenant’s Work. 

3.1 Commencement of Tenant’s Work. Tenant shall not commence construction of the applicable Tenant’s Work until
(i) the applicable Building Permit is issued, and a copy provided to Landlord; and (ii) Tenant has delivered to Landlord certificates of insurance evidencing that the General Contractor is carrying all coverages required to be carried by
contractors employed by Tenant under the Lease. 

  
 -3-

 3.2 Performance and Quality of the Tenant’s Work. Except for Landlord’s
Contribution, all of Tenant’s Work shall be performed by Tenant at Tenant’s sole cost and expense. All construction work conducted in connection with the Tenant’s Work shall be done in a good and workmanlike manner with new,
first-class materials, in a lien-free manner, in accordance with the applicable Final Construction Plans, and in compliance with all Legal Requirements, the Construction Guidelines (to the extent they are applicable to the Building), and all
requirements of public authorities and insurance bodies related to, or arising out of the performance of, such construction work. Tenant shall diligently pursue construction of Tenant’s Work. Landlord shall have the right to inspect such
construction work at any time, provided that Landlord shall use reasonable efforts to give Tenant reasonable prior notice of any such inspections. 
 3.3 Completion of the Tenant’s Work/Default. Tenant shall cause the applicable Substantial Completion Certificate to be issued to Landlord on or before the applicable Outside Work
Completion Date. Tenant shall obtain the applicable Certificate of Occupancy at the earliest date possible following completion of the applicable Tenant’s Work, and shall then occupy the Alzheimer’s Expansion Premises and the A&G
Expansion Premises, as applicable, for the conduct of the Permitted Use within 15 days of the applicable Substantial Completion Date. Any (i) failure by Tenant to cause the applicable Tenant’s Work to be substantially completed by the
applicable Outside Work Completion Date, or (ii) breach of any other of the terms and conditions of this Work Letter that is not cured within 10 days after written notice to Tenant thereof, shall in each case be deemed to constitute an Event of
Default under the Lease entitling Landlord to exercise Landlord’s remedies under the Lease, including the right to draw down on the Letter of Credit to cure any such Event of Default, and the rights set forth in Section 4.5 below. Upon
Landlord’s written request to Tenant, such request to be delivered no earlier than 30 days after the applicable Substantial Completion Date, Tenant shall, at Tenant’s sole expense, promptly deliver to Landlord complete sets of as-built
plans for the applicable Tenant Work prepared by the Architect. Such plans shall be in so-called “computer assisted design” or “CAD” format if requested by Landlord. 
 4. Landlord’s Contribution. 
 4.1 Permitted Expenses. As
an inducement to Tenant’s entering into the Second Amendment to Lease, and subject to the terms and conditions set forth in this Work Letter, Landlord shall provide to Tenant Landlord’s Contribution. Landlord’s Contribution shall be
used by Tenant to reimburse Tenant for the following costs paid or incurred by Tenant in connection with Tenant’s Work: building permit, general construction costs; data/telecommunications cabling and related equipment costs; architectural and
engineering services, including space plans, as-built plans, and mechanical, electrical and plumbing work; construction management fees; and relocation expenses (collectively, “Tenant’s Permitted Expenses”). 

4.2 Periodic Payments. Upon commencement of the construction of the applicable Tenant’s Work, Tenant shall have the right to
obtain periodic payments (but not more than once a month) for the applicable Tenant’s Work performed and Tenant’s Permitted Expenses incurred of up to 75% of the applicable Landlord’s Contribution (collectively, the
“Periodic Payments”) by submitting to Landlord (i) a statement (hereinafter “Tenant’s Statement”), including 

  
 -4-

 
requisitions from Tenant’s contractors with retainage of not less than 10% of the amount of such requisition, third party invoices, and other documentation reasonably requested by Landlord
showing in reasonable detail the cost of all such Tenant’s Permitted Expenses and (ii) Lien Waivers with respect to work set forth on Tenant’s Statement. For the Periodic Payments, Landlord shall pay to Tenant within 30 days of
Landlord’s receipt of Tenant’s Statement, the lesser of (i) Tenant’s Permitted Expenses as detailed on Tenant’s Statement, or (ii) 75% of the applicable Landlord’s Contribution minus amounts previously paid to
Tenant. 
 4.3 Final Payment. Tenant shall have the right to obtain payment of the unpaid balance of the applicable
Landlord’s Contribution at any time after the Final Payment Conditions are satisfied but prior to the date that is 90 days after the issuance of the applicable permanent Certificate of Occupancy (the “Final Payment”), by
submitting to Landlord (x) Tenant’s Statement in accordance with Section 4.2 above; and (y) final Lien Waivers, conditioned only upon payment of the final amount listed on the Lien Waiver, relating to items, services and work
performed in connection with all phases and portions of the applicable Tenant’s Work. The “Final Payment Conditions” shall mean (i) Landlord has received the applicable Substantial Completion Certificate, and a copy
of the applicable final Certificate of Occupancy; and (ii) Tenant is occupying the Alzheimer’s Expansion Premises and the A&G Expansion Premises, as applicable, for the Permitted Use. For each Final Payment, Landlord shall pay to
Tenant within 30 days of the date of Landlord’s receipt of the applicable Tenant’s Statement and the applicable Lien Waivers in compliance with the terms of this Section 4, the lesser of (i) an amount equal to Tenant’s
Permitted Expenses as detailed on the applicable Tenant’s Statement, or (ii) an amount equal to the unpaid balance of the applicable Landlord’s Contribution. 
 4.4 Additional Conditions. Landlord shall have the right, at Tenant’s expense, upon reasonable advance notice to Tenant, to inspect Tenant’s books and records relating to Tenant’s
Statement in order to verify the amount thereof. Notwithstanding anything to the contrary contained in the Lease: (i) Landlord shall have no obligation to pay any portion of Landlord’s Contribution requested under any Tenant’s
Statement that is submitted to Landlord after the applicable Outside Work Completion Date; (ii) Landlord’s obligation to pay any portion of Landlord’s Contribution shall be conditioned upon Tenant being in compliance with the terms of
this Lease, and there existing no Event of Default under the Lease at the time that Landlord would be required to make such payment; and (iii) Landlord shall have no obligation to advance any funds or pay any amounts on account of the
applicable Tenant’s Work in excess of Landlord’s Contribution. 
 4.5 Landlord’s Contribution/Event of
Default. If an Event of Default occurs (i) Landlord’s obligation to provide Landlord’s Contribution shall, at Landlord’s option, be deemed void as of the date of the occurrence of such Event of Default, and
(ii) if Landlord exercises it right to terminate this Lease in accordance with the provisions of Section 6.1.1 of the Lease, Landlord can recover from Tenant, in addition to the other amounts set forth in Section 6, the unamortized
balance of Landlord’s Contribution paid to Tenant (calculated on a level direct reduction basis over the Initial Lease Term). The provisions of this Section 4.5 shall be in addition to all other rights and remedies of Landlord in the event
of a default of Tenant under the Lease. Tenant shall not be entitled to any credit or reduction in the amount recoverable by Landlord pursuant to this Section 4.5 based upon amounts collected by Landlord from reletting the Alzheimer’s
Expansion Premises and the A&G Expansion Premises, as applicable, after an Event of Default. 

  
 -5-

 5. Notice. Any notice required or permitted to be given pursuant to the provisions of this
Work Letter shall be given in accordance with the provisions set forth in the Lease. 

  
 -6-

 SCHEDULE A 
 Landlord Approval Letter 

                    , 2011 

athenahealth, Inc. 
 300 North Beacon Street

 Watertown, Massachusetts 02472 
  

	 	Re:	311 Arsenal Street, The Arsenal on the Charles 

 Watertown, Massachusetts 
 Ladies and Gentlemen: 

Reference is made to that certain Lease, dated as of November 8, 2004, between President and Fellows of Harvard College, as
Landlord, and athenahealth, Inc., as Tenant, as amended by a First Amendment to Lease dated as of May 16, 2011, as further amended by a Second Amendment to Lease (the “Amendment”) dated as of October     ,
2011 (as so amended, the “Lease”). In accordance with Section 2.2 of the Expansion Premises Work Letter attached to the Amendment, this is to confirm that the Final Construction Plans referred to in such Work Letter are those
drawings prepared by [                    ] and described as follows: 

 

					
	 DATE
	  	 TITLE
	  	 #PAGES

Landlord confirms that it has approved the Final Construction Plans. 

The following elements of Tenant’s Work shall be removed by Tenant at the expiration of the Lease Term in accordance with
Section 5.1.4 of the Lease, unless Landlord elects otherwise as set forth in Section 5.1.4: 
 [LIST ALL ELEMENTS TO BE
REMOVED] 
 If the foregoing is in accordance with your understanding, would you kindly execute this letter in the space
provided below and return the same to us, whereupon it will become a binding agreement between us. 

  

			
	Very truly yours,
	
	PRESIDENT AND FELLOWS OF HARVARD COLLEGE
		
	By:	 	  

  

			
	Accepted and Agreed:
	ATHENAHEALTH, INC.
		
	By:	 	  

	Name:	 	  

	Title:	 	  

  
 -2-

 SCHEDULE B 
 Construction Guidelines 

  
 -3-

  
 

 
 CONSTRUCTION GUIDELINES 
 311 ARSENAL STREET 
 BUILDING
#311 
 WATERTOWN, MA, 02472 
 Beal.  |  3 Kingsbury Avenue  |  Watertown, MA 02472  |  p: 617-923-4500  |  f:
617-923-4501  |  www.taotc.com 

 TABLE OF CONTENTS 

 

							
	 I.
	 	INTRODUCTION	  	 	1	  
			
	 II.
	 	PRE-CONSTRUCTION	  	 	2	  
			
	 A.
	 	PLANS	  	 	2	  
	 B.
	 	PERMITS	  	 	2	  
	 C.
	 	INSURANCE	  	 	3	  
	 D.
	 	APPROVED CONTRACTORS AND SUBCONTRACTORS	  	 	3	  
	 E.
	 	CONSTRUCTION SCHEDULE	  	 	3	  
			
	 III.
	 	CONSTRUCTION PERIOD	  	 	3	  
			
	 A.
	 	SUPERVISION	  	 	3	  
	 B.
	 	SECURITY	  	 	4	  
	 C.
	 	FIRE SAFETY	  	 	4	  
	 D.
	 	CLEANING/BUILDING PROTECTION	  	 	4	  
	 E.
	 	NOISE AND VIBRATIONS	  	 	5	  
	 F.
	 	TELEPHONE AND ELECTRICAL ROOMS	  	 	5	  
	 G.
	 	ELEVATORS	  	 	6	  
	 H.
	 	DEMOLITION AND CONSTRUCTION DEBRIS	  	 	6	  
	 I.
	 	STORAGE	  	 	7	  
	 J.
	 	INSPECTION	  	 	7	  
			
	 IV.
	 	MECHANICAL/DESIGN SPECIFICATIONS	  	 	7	  
			
	 A.
	 	HVAC	  	 	7	  
	 B.
	 	ELECTRICAL INSTALLATIONS	  	 	8	  
	 C.
	 	PLUMBING	  	 	9	  
	 D.
	 	FIRE ALARM SYSTEM	  	 	9	  
	 E.
	 	TELEPHONE HOOKUPS	  	 	10	  
	 F.
	 	WALLS	  	 	10	  
	 G.
	 	ENTRY WAY DOORS AND HARDWARE, ETC.	  	 	10	  
	 H.
	 	WINDOWS/SOLAR SCREENS	  	 	10	  
	 I.
	 	FIREPROOFING	  	 	10	  
	 J.
	 	SPRINKLERS	  	 	11	  
	 K.
	 	ROOFING	  	 	11	  
		
	 APPENDIX A : CERTIFICATE OF INSURANCE 
	  	 	12	  
		
	 APPENDIX B : ELEVATOR INFORMATION 
	  	 	13	  
		
	 APPENDIX C : FIREPROOFING REQUIRMENTS 
	  	 	14	  
		
	 APPENDIX D : SUBMITTAL OF DRAWINGS 
	  	 	15	  
		
	 APPENDIX E : RULES AND REGULATIONS 
	  	 	17	  
		
	 APPENDIX F : ARCHITECTURAL AND ENGINEERING GUIDELINES 
	  	 	20	  

 The Arsenal on the Charles 

3 Kingsbury Avenue, Watertown, MA 02472 
 TEL: 617-923-4500 — FAX: 617-923-4501 — www.TAOTC.com

  

	I.	INTRODUCTION 

 The Arsenal
on the Charles staff looks forward to working with the Tenant and Contractor as fellow members of your “Project Team.” We want to ensure that the construction is completed smoothly and results in maximum tenant satisfaction. 

All construction at The Arsenal On The Charles must be done in compliance with the Building’s Standard Specifications as well as
Landlord requirements as detailed in this text. All work must be performed in compliance with all applicable Federal, State and Local Laws, Regulations, Building Codes and Zoning Ordinances. In the event of a conflict, current Laws and Regulations
supersede these Specifications. 
 Approval must be received IN WRITING from the Beal Company Management Office
prior to the commencement of any Tenant alteration/construction work. 
  

			
	CONTRACTOR	 	BUILDING OWNER
	Project Manager	 	Primary Contact
	Phone	 	Phone
	Fax	 	Fax
	Cell	 	Cell
	Email	 	Email
	Pager	 	Pager
	Project Supervisor	 	Secondary Contact
	Phone	 	Phone
	Fax	 	Fax
	Cell	 	Cell
	Email	 	Email
	Pager	 	Pager

  
 1 

	II.	PRE-CONSTRUCTION 

 A
pre-construction meeting must be held with the Tenant, Architect, Engineer Consultant, General Contractor, (“Contractor”) and Landlord’s Agent. The term “Contractor” for the purposes of this manual shall include all
sub-contractors, lower tiered sub-contractors and or vendors as may be applicable. As the project progresses, correspondence and questions should be addressed to: 
 Beal & Co., Inc. (Landlord’s Agent) 
 Attn.: Property Manager

 3 Kingsbury Avenue, Watertown, MA 02472 
 The Tenant must designate a representative (Tenant Representative) must inform Beal Company Management in writing of the individual’s name. The Tenant’s Representative must be able to make
decisions on behalf of Tenant regarding clarification of documents and must be authorized to accept financial responsibility on the Tenant’s behalf. 
  

	 	A.	Plans & CAD Files 

  

	 	1.	The Tenant shall submit preliminary construction drawings of the proposed work to the Management Office for approval. These plans will be reviewed by the Building Staff
for safety, impact on neighboring Tenants, and consistency with the Building’s operational strategies. 

  

	 	2.	All plans shall be dated and shall identify the Architect’s name, address and telephone number, Tenant’s name. All submissions to be on sheets 30” x
42” or 24” x 36”, drawn to a minimum scale of 1/8”. Tenant should maintain a file of copies of all transmissions to the Management Office. 

 

	 	3.	Prior to any construction, three (3) sets of wet-stamped drawings must be signed as “approved” by the Management Office, Chief Engineer, and Tenant
Representative. This indicates agreement on the plans to be used for construction. 

  

	 	4.	At the completion of the project, AUTOCAD format must be submitted to the Beal Management office. 

 

	 	5.	Please refer to Appendix D for a detailed discussion regarding Submittal of Drawings. 

 

	 	B.	Permits 

  

	 	1.	Have all required permits posted and submit a copy to the Beal & Company management office prior to proceeding with work. No work shall begin until permits
have been received by the Beal Management Office. 

  

	 	2.	Tenant shall be responsible for payment of all filing fees and for all controlled inspections, permits, and all other code mandated testing/inspections which shall be
performed by the Locality, Building Code consultant or Building’s independent consultants, if applicable. 

  
 2 

	 	C.	Insurance 

  

	 	1.	A Certificate of Insurance must be delivered to the Beal Management office before proceeding with work. Also the following names as the additionally insured:
President and Fellows of Harvard College. Specifications for Certificates of Insurance, Certificates are in Appendix A. 

  

	 	D.	Contractors and Subcontractors 

  

	 	1.	All work shall be performed by a licensed Contractor. All contractors and sub-contractors are subject to the approval of the Management Office.

  

	 	2.	A complete list of contractors, subcontractors and tenant representatives involved with the project should be submitted to the Beal Management Office.

  

	 	3.	Tenant and Contractor shall make every effort to avoid labor disputes and shall indemnify the Landlord and Landlord’s Agent against any such disputes.

  

	 	4.	The Contractor and all his sub-contractors shall furnish labor that will work in harmony with all other elements of labor employed or to be employed in the work and on
the premises whether labor is employed by Contractor or its sub-contractors, Landlord, Landlord’s tenants or any separate contractors and that all construction and/or alterations will be performed in such a manner as to avoid materially
interfering with Landlord’s and its tenants’ operation of the premises. Contractor shall stop construction or other activity immediately upon notification by Management Office that continuing such construction or activity would or is
creating interference. 

  

	 	E.	Construction Schedule 

  

	 	1.	A copy of the construction schedule indicating the proposed start and completion dates and proposed hours of construction should be delivered to the Beal Management
Office. Prior to and during the construction phase, Contractor shall provide weekly work schedules detailing daily work hours. Regular building business hours are from 8:00 a.m. to 5:00 p.m. (Monday — Friday). It will be the responsibility of
the Contractor to notify the Beal Management Office if the schedule changes. The construction schedule should be based on the work to be performed as indicated on the Tenant’s Approved Construction Documents. 

 

	III.	CONSTRUCTION PERIOD 

  

	 	A.	Supervision 

  

	 	1.	A foreman in the employment of the Contractor is required to be on the job site at all times when any work is in progress. The foreman shall make himself known to the
Beal Management Office, and introduce any replacement, be they temporary or permanent. 

  

	 	2.	All after-hours work by Contractors must be scheduled 24 hours in advance with the Beal Management Office. 

  
 3 

	 	B.	Security 

  

	 	1.	Tenant shall contact the Beal Management Office to obtain temporary Building Access Cards for use by the contractor. 

 

	 	2.	Beal Management Office must have access to work areas at all times. 

  

	 	C.	Fire Safety 

  

	 	1.	All necessary fire protection (i.e. fire extinguishers and sand buckets) must be in place throughout the construction process. These fire protection requirements shall
be provided by the Contractor at Tenant’s expense, and as directed by the Beal Management Office, and as required by local code. 

  

	 	2.	Properly equipped and trained fire watch personnel shall be posted whenever any type of welding, cutting or burning is taking place, and as required by Federal, State
or Local codes. 

  

	 	3.	Specific approval must be obtained from the Beal Management Office any time work may produce smoke, heat, flame, or heavy dust, or at any time when work could
potentially cause damage to sprinkler pipes or heads. This includes use of acetylene torches and demolition. This written approval is required in order to coordinate the proper deactivating and reactivating of the appropriate portions of the
Building’s sprinkler and Fire Alarm System. The deactivating and reactivating shall only be done by Building personnel. Contractor shall request approval from the Beal Management Office in writing at least 24 hours prior to such work.

  

	 	4.	Beal Management Office must be notified of all and any hazardous or flammable materials being utilized accompanied with the proper MSDS sheets. All flammable materials
(thinners, adhesives, oily rags, gasoline, etc.) must be stored in an approved NFPA (Code 30) fire cabinet at the end of each workday. Cabinets are to be provided by the Contractor. Acetylene oxygen and propane tanks must be removed from the
premises at the end of each workday. 

  

	 	5.	Any additional reasonable fire protection requested by the Beal Management Office shall be provided by the Contractor. 

 

	 	6.	The Contractor will protect the Public, Tenant, and Building property by installing all necessary signs, dust protection and all other safety measures required for this
work. These reasonable requirements shall include, but not be limited to, ensuring the core Class E system (pull stations and common-area smoke detectors) remain in full operation throughout construction. 

 

	 	D.	Cleaning/Building Protection 

  

	 	1.	In order to minimize any adverse impact on tenanted areas in the Building that may be affected by demolition or construction, dust or dirt shall be cleaned by the
Contractor’s labor to the satisfaction of the Beal Management Office. Such spaces include floors, walls and ceilings of multi-tenant corridors, and elevator lobbies and cabs. Cleanup work is the full responsibility of the Contractor.

  

	 	2.	Dust, which accumulates from work done during normal business hours, shall be cleaned continuously, and that which results from after-hours work shall be cleaned after
work is completed. 

  

	 	3.	If no work is planned for the following morning, additional follow-up cleaning of public areas is required no later than 8:00 a.m. the following day to clean dust which
may have settled during the night. This requirement includes weekends. 

  
 4 

	 	4.	The floors must be kept in broom clean condition. The job site is to be maintained in a clean condition. Trash shall be removed at the end of each day and should be
carted away from the Building by Contractor at Tenant’s expense. Debris is not to be left in piles in the Tenant space/work area, public areas such as corridors or freight lobbies, or in the main freight corridor. Containers must be promptly
returned to the work area and not left in common areas. Debris, containers, incoming material, tools and the like may not be stored anywhere outside the work area. 

 

	 	5.	Damage to elevator or common areas will be charged directly to the contractor. Protect floors and walls with poly sheets or plywood on the floor. Protection of walls,
floors, elevators, ceilings, doors, etc. is the contractor responsibility. Any damages will be the contractor’s responsibility for repairs. 

  

	 	6.	The Contractor is to use rubber wheeled carts in removing debris and trash from Tenant’s space. Under no circumstances shall metal-wheeled carts be allowed. All
doors are to be protected with paper and cardboard. 

  

	 	7.	Any damage done to the corridors must be repaired by Contractor at the Tenant’s expense upon completion of the project. Corridor specifications can be obtained
from the Management Office. 

  

	 	8.	Appropriate precautions must be taken by Contractor to protect filters on the A/C units from clogging when construction dust is heavy. Contractors should notify the
Management Office in advance when such construction activities seem likely. As determined by the Chief Engineer, filters will be replaced at the Tenant’s expense. 

 

	 	9.	Restrooms shall not be used for cleaning of construction or painting tools or equipment. Contractor will be back charged for an extra cleaning.

  

	 	10.	Cutting or trenching of the floor slab is prohibited without prior written consent. Coring is allowed ONLY with advance permission. 

 

	 	11.	Any practices that are odor-causing or particulate-generating are prohibited during business hours. 

 

	 	12.	All materials, tools and debris are required to enter and leave the building by the loading dock ONLY. Use of the front entrance doors is strictly prohibited.

  

	 	E.	Noise and Vibrations 

  

	 	1.	Consideration must be given to minimizing inconvenience to other tenants adjacent to the area under construction concerning noise, dust and orders.

  

	 	2.	Any construction work causing excessive noise and/or vibrations, such as coring, column chipping, setting of anchors, etc. shall not be performed during normal business
hours. 

  

	 	3.	Any work that disrupts nearby Tenants must cease immediately upon request of the Management Office and rescheduled for completion on an after-hours basis.

  

	 	F.	Telephone and Electrical Rooms 

 The following rules shall apply to anyone other than building personnel wanting access to telephone or electric rooms for tenant work: 

 

	 	1.	A key must be signed out at the security desk by the person/company performing the work. This sign-out shall require the person’s name, company name, name of the
tenant which the work is being performed for and the technicians’ manager’s name and phone number. 

  
 5 

	 	2.	Keys may be signed out between the hours of 7:00 a.m. to 5:00 p.m., Monday through Friday. All keys must be returned no later than 5:00 p.m. Work outside of these hours
will need to be scheduled no less than forty-eight hours in advance. 

  

	 	3.	No key may leave the premises. Any time the working Contractor leaves the floor of work, the room(s) is to be secured. 

 

	 	4.	The Contractor(s) performing the work shall be held liable for keeping the area clean. No parts or equipment are to be stored in these rooms. Rooms are to be cleaned
before the Contractor leaves for the day. No building equipment will be used by the Contractor for the task of cleaning these rooms. 

  

	 	G.	Elevators 

  

	 	1.	Construction and demolition materials move must be scheduled between 6:00 a.m. and 8:00 a.m. or after 6:00 p.m. weekdays, or on weekends, unless otherwise approved by
Beal Management. 

  

	 	2.	The Beal Management Office requires 24 hours notice for the use of an elevator for extended deliveries or the moving of large piece of equipment.

  

	 	3.	Beal Management Office must be given 24 hours prior notice for a weekday and notice by noon on Thursday for a weekend reservation of an elevator.

  

	 	4.	The Contractor must clean the elevator and all areas affected by the work after each use. 

 

	 	5.	Elevator use during normal business hours is for routine deliveries only. No exclusive use of these elevators can be granted during this time. Arrangements for
after-hours elevator service should be made with the Management Office. 

  

	 	H.	Demolition and Construction Debris 

  

	 	1.	All demolition, debris removal, and transporting of large quantities of construction materials must be done before or after regular Building business hours.
Arrangements for after-hours freight elevator service should be made with the Beal Management Office at least 24 hours in advance, or on Thursday for weekend work. 

 

	 	2.	All construction debris must be removed from the Building within twenty-four hours. 

 

	 	3.	All dumpsters are to be placed either at the West or East ends of the building only, or in an area designated by Beal Management, and covered at the end of each day.

  

	 	4.	No construction debris or materials are to be stored or transported through the main lobby/lobbies at any time. 

	

  
 6 

	 	I.	Storage 

  

	 	1.	Contractors are not to store any equipment in building attic stock, electrical closets, phone closets, mechanical rooms, or freight halls. Storage must be coordinated
with either the Beal Management Office or the General Contractor and shall in most cases be confined to the construction site. 

  

	 	2.	Anything uncrated at the loading dock, must be removed at the end of the day. The loading dock must be kept clean and contractor will be billed for removal of crates,
etc. 

  

	 	J.	Inspection 

  

	 	1.	Landlord and/or Beal Management Office has the right to inspect construction operations at any time. 

 

	IV.	MECHANICAL/DESIGN SPECIFICATIONS 

 General 
 The following items, addressed in the paragraphs below, are
among those that must conform to the Building Standard Specifications. 
  

	 	•	 	 HVAC systems 

  

	 	•	 	 Electrical installations 

  

	 	•	 	 Fire alarm 

  

	 	•	 	 Plumbing 

  

	 	•	 	 Telephone hookups 

  

	 	•	 	 Walls 

  

	 	•	 	 Entryway doors, hardware and locks, electric strike, 

 

	 	•	 	 Signage 

  

	 	•	 	 Windows, solar screens 

  

	 	•	 	 Fireproofing 

  

	 	•	 	 Security & card access systems 

 Shutdown 
 No shutdown of water, electric, drainage, sprinkler, or
HVAC, other than designated working areas, is to be preformed without notice and approval of the building maintenance. A minimum of forty-eight (48) hours notice must be prearranged with the Beal & Company management office. This work
may be required to be preformed on an overtime basis. 
  

	 	A.	HVAC 

  

	 	NOTE:	Whether or not any mechanical work is part of the project, the tenant/contractor shall be responsible for any change in the mechanical HVAC delivery system
resulting from any alteration of the space configuration. This shall include: insulating of supply ductwork, relocation of sensors, thermostats, ducts or diffusers, calibration of any temperature controls and air balancing. 

 

	 	1.	The standard air distribution system is provided by HVAC units. This system is operated and controlled by computer settings via Johnson Controls Software.

  

	 	2.	Any unused ductwork in tenant’s premises shall be removed. Prior to removal, Building Management must be notified. 

  
 7 

	 	3.	HVAC equipment is not to be installed over any wall. Walls are not to be built under any VAV box. If a VAV box is to be installed above a drywall ceiling, access panel
must be of sufficient size to allow removal of the motor unit if necessary. 

  

	 	4.	All systems must be restored to good working order and tested by Contractor, at its expense (to include thermostats and modulating controls). 

 

	 	5.	Air Balancing tests on new or modified ductwork are to be conducted by Landlord’s contractor only at the expense of the Contractor. A report is to be provided to
Beal Management. 

  

	 	6.	The only authorized HVAC Control Contractor that may work in the building is Johnson Controls. No other HVAC Control contractor may be used. In addition, only Johnson
Controls may update any changes to the HVAC Control System on the Johnson Controls computer. All costs incurred by Johnson Controls are at the sole expense of the contractor. 

 

	 	B.	Electrical Installations 

  

	 	1.	Wiring within all closets, or any exposed interior area shall be in EMT from any enclosure to a minimum of 6” above ceiling. 

 

	 	2.	The use of E.M.T or M.C. cable is acceptable. No other wiring methods are acceptable without written consent by Landlord. 

 

	 	3.	All lighting fixtures must be energy efficient. Approved plans indicating these fixtures must be submitted to the Beal Management Office prior to ordering the fixtures.

  

	 	4.	No back-to-back electrical outlets are allowed in adjacent offices. A minimum of one foot of space between electrical outlets is required. 

 

	 	5.	No sub-panels or piggyback panels are allowed in Building electric closets. 

 

	 	6.	Temporary lights must be provided at all elevator lobbies, fire exits, and equipment rooms on a 24- hour basis. All temporary lights and wiring must be removed at the
completion of the project. 

  

	 	7.	All power, including existing, must be routed back to the tenant electrical closet, as applicable, and any penetration into the electrical closet must be
fire-stopped. 

  

	 	8.	All unused electrical wiring/conduit/cabling (including telephone) within tenant’s premises shall be removed back to the source of connection. Prior to removal,
the building management must be notified in order to approve the extent of removal and to coordinate the disconnection of related electrical work. This work is to be made part of demolition work. 

 

	 	9.	Tenant electrical panels, if applicable, are required to be in the Tenant space outside of the Building electrical closets. 

 

	 	10.	All panels must be labeled. 

  

	 	11.	The electrician is responsible for final inspection and sign-off by the Electrical Inspector regardless of length of time it takes to schedule inspection date. It is
the responsibility of the electrical contractor to ensure that an inspection is done. This shall include any Fire Alarm System work performed. 

	 	

  
 8 

	 	12.	Light fixtures are to be secured to structure by jack chain only. No tie wires of any kind shall be allowed. 

 

	 	13.	No shared neutrals or multi-wire branch circuits shall be allowed on any new or retrofit work. 

 

	 	14.	Cutting or trenching of the floor slab is prohibited. Coring is allowed ONLY with Owner’s permission in advance. 

 

	 	C.	Plumbing 

  

	 	1.	Access doors must be installed at every wet column for accessibility to the valves. 

 

	 	2.	All piping to be abandoned as a result of Tenant’s Improvements within Tenant’s premises shall be removed back to the source of connection by Tenant at
Tenant’s expense. Prior to removal, Building Management must be notified in order to approve the extent of removal and to coordinate the disconnection of related plumbing work. This work is to be made part of demolition work.

  

	 	3.	Any new installation or replacement of a tenant hot water heater shall require that an automatic leak detector and water shutoff be included as an integral part of the
hot water installation. 

  

	 	D.	Fire Alarm System 

 The
Contractor or Electrician shall furnish electrical drawings to Management Office prior to the commencement of construction. These drawings shall include Fire Alarm System (which should be a separate drawing), Riser Diagram and Sequence of Events.
The Contractor is responsible for coordinating all work with Management Office. The Building’s Fire Panel contractor, Siemen’s, shall make the final tie-in of all fire devices to the panel on the respective floor(s) at the
Contractor’s expense. It is the responsibility of the Contractor to ensure that any devices installed be Building Standard and further, that any strobes/horns moved remain on the same circuit to ensure that the system remains in sync. In the
event that the moving of horns/strobes causes the system to be out of sync, it will be the responsibility of the Contractor, as its sole expense, to correct the problem. 
 A work permit must be obtained prior to any work on the fire alarm system from the Town of Watertown. The engineer who designed the mechanical systems shall sign and seal the riser plan and certify, in
writing, the completed system to the Town of Watertown prior to the final sign off of the work permit and/or issuance of the Certificate of Occupancy. Also, the electrical contractor shall complete an A433R Form which certifies the correct
installation of the fire alarm devices. The signed and sealed plan and A433R Form must be given to the Beal Management Office to complete the fire alarm filing and sign-off. 
 NOTE: The building is equipped with beam detectors in all atrium spaces that will activate the fire alarm system when crossed. 

Any fire alarm testing should be scheduled for off-hours. Fire alarm must be disconnected during the following; 

A.) For all sprinkler work. 
 B.)
For all welding, exothermic or work requiring a torch. 
 C.) Whenever dust will be generated in the vicinity of a smoke detector.

 D.) Any work on the fire alarm panel or device powered by the fire alarm panel. 

E.) The day prior to any final inspection, that included fire alarm work, as well as the day of the final inspection that involves the Watertown
fire department. 

  
 9 

	 	E.	Telephone Hookups 

  

	 	1.	All telephone and data cables are to be made of approved fire resistant wire (such as Teflon coated), or concealed in EMT when running through a return air plenum in a
manner acceptable to the Town of Watertown. No Tenant Equipment is allowed in Building Mechanical Equipment Rooms or telephone closets. Tenant Equipment is allowed only in the Tenant’s space, Permits are required for all wiring, including data
and telephone. 

  

	 	F.	Walls 

  

	 	1.	Office partition studs must extend to the underside of the slab above. All demising partitions and corridor walls must be extended completely; drywall and studs must
extend to the underside of the slab above, per Town of Watertown codes. 

  

	 	G.	Entry Way Doors, Hardware, etc. 

  

	 	1.	Entry Way Doors — All Tenant Entry Doors on the public corridors of multi-tenant floors are to: 

 

	 	•	 	 Match existing doors of other tenants on the respective floors 

 

	 	•	 	 Any deviation from building standard must be approved in writing by Beal Management Office. 

 

	 	2.	Hardware and Locks — Contractors shall utilize locksmith approved by the Landlord. Tenant shall be responsible for keys used within their space in
conjunction with the building master keying system. All locks for entrances, closets, exits, labs, computer rooms and offices must also be in conjunction with the building master keying system. 

 

	 	3.	Electric Strike — All electrical strikes must be tied in to the Building’s Fire Alarm System by the Building’s Fire Alarm System
Contractor. All strikes must fail safe on fire alarm. 

  

	 	4.	Signage — Building Standard Signage (frame, size and color) must be used. The sign graphics, if applicable, must be submitted to the Management
Office four (4) weeks prior to the Tenant’s move- in date or date when signage is needed, whichever is earlier, for approval. 

  

	 	H.	Windows/Solar Screens 

  

	 	1.	Blinds and shades are only permitted on the perimeter exterior walls of the building. This means only windows that are facing the outside. The specific types used in
the building is ThermoViel (dense basket weave). 

  

	 	I.	Fireproofing 

  

	 	1.	Fireproofing must comply with all Federal, State and Local building codes. In the event any structural steel is exposed as a result of construction, thorough
fireproofing shall be required as part of Contractor’s scope of work. 

  
 10 

	 	J.	Sprinklers 

  

	 	1.	Contractor shall provide three (3) spare sprinkler heads to the Beal Management Office. All sprinkler work will require a Fire Alarm System shutdown before
draining. As soon as system is drained, Building’s Sprinkler Contractor will put the building back on line except for the working zones. At the end of the day, Building’s Sprinkler Contractor will refill the system and reset the Fire Alarm
Panel, no later than 5:00 pm. 

  

	 	2.	It is the Sprinkler Contractor’s responsibility to secure the fire pump when refilling the system. No drain-down of the system or refill of the system shall take
place unless the Building’s Sprinkler Contractor is physically present on-site. 

  

	 	K.	Roofing 

  

	 	1.	Beal Management Office is to be notified when access is required on the roof. 

 

	 	2.	All roof penetrations must get approval by Beal Management and must conform to warranty requirements (Firestone Roofing System). 

  
 11 

 APPENDIX A 
 CERTIFICATE OF INSURANCE REQUIREMENTS 
  

	I.	The Contractor shall furnish to the Owner a Certificate(s) of Insurance providing the following minimum insurance coverage. Original Certificate(s) of Insurance must be
provided before any contractor commences contract duties or contract duties will not be allowed to commence: 

  

	 	a.	Commercial General Liability: Combined single limit — $2,000,000 per occurrence and annual aggregate per location. Such insurance shall be broad form and include,
but not be limited to, contractual liability, independent contractor’s liability, products and completed operations liability, and personal injury liability. A combination of primary and excess policies may be utilized. Policies shall be
primary and noncontributory. 

  

	 	b.	Worker’s Compensation — Statutory Limits of the Commonwealth of Massachusetts. 

 

	 	c.	Employer’s Liability: With minimum liability limits of $1,000,000 bodily injury by accident each accident; $1,000,000 bodily injury by disease policy limit;
$1,000,000 per accident. 

  

	 	d.	Commercial Automobile Liability: Combined Single Limit — $1,000,000 per accident, Such insurance shall cover injury (or death) and property damage arising out of
the ownership, maintenance or use of any private passenger or commercial vehicles and of any other equipment required to be licensed for road use. 

  

	 	e.	Property Insurance: All-risk, replacement cost property insurance to protect against loss of owned or rented equipment and tools brought onto and/or used on any
Property by the Contractor. 

  

	II.	Policies described in Section 1.a. and 1.d. above shall include the following as additional insured, including their officers, directors and employees. A GL-2010
Endorsement shall be utilized for the policy(ies) described in Section 1.a. above. Please note that the spelling of these parties must be exactly correct or the insurance is not valid and Contract Duties will not be allowed to commence.

  

	 	1.	President and Fellows of Harvard College 

  

	 	2.	Beal and Company, Inc. 

NOTE: Specific insurance requirements available upon request from Beal Management. 

 

	III.	Contractor waives any and all rights of subrogation against the parties identified above in Paragraph 2 as additional insured’s.

  

	IV.	All policies will be written by companies licensed to do business in the State of Massachusetts. 

 

	V.	Contractor shall furnish to the Owner Certificate(s) of Insurance for the contractor and all sub-contractors, sub-sub-contractors, etc. evidencing the above
coverage. Original Certificate(s) of Insurance must be provided before Contractor commences Contract Duties or Contract Duties shall not be allowed to commence. 

 

	VI.	Certificate(s) of Insurance relating to policies under this Agreement shall contain the following words verbatim: 

“It is agreed that this insurance will not be canceled, not renewed or the limits of coverage in any way reduced without at least thirty
(30) days advance written notice [ten (10) days for non-payment of premium] sent by certified mail, return receipt requested to: Beal and Company, Inc., 3 Kingsbury Avenue, Watertown, MA 02472” 

  
 12 

 APPENDIX B 
 ELEVATOR INFORMATION 
  

					
	 1.      Elevator Entrance:
	  	Located on the West and East ends of the building.
			
	 2.      Hours of Operation:
	  		  	
		
	 A)    Business Hours
	  	Normal elevator operating hours for general pickups and deliveries are as follows: Monday through Friday 8:00 a.m. — 5:00 p.m.
		
	 B)     After Hours
	  	Large moves and extended deliveries must be scheduled before 8:00 a.m. or after 6:00 p.m. weekdays, or on weekends.
		
		  	Elevator reservations must be made at least one day in advance with the Beal Management Office. Elevator usage is first come, first served; early reservations are
encouraged.
			
	 3.      Dimensions/Capacity
	  		  	
			
		  	Capacity:	  	2,500 lbs.
			
		  	Dimensions:	  	West Elevator (elevator #1)
		  		  	8’ Deep
		  		  	5’ 3” Wide
		  		  	7’ High
		  		  	Door is 4’ Wide
			
		  		  	East Elevator (elevator #8)
		  		  	5’ 5” Deep
		  		  	6’ 3.5” Wide
		  		  	7’ High
		  		  	Door is 3’ 5.5” Wide

  
 13 

 APPENDIX C 
 FIREPROOFING REQUIREMENTS 
  

	1.	Installation shall comply with the following standards: 

  

	 	a.	Dry Density: 13 lbs/ft 3 minimum, 17 lbs/ft 3 average. 

  

	 	b.	Compressive Strength: 500 lbs/ft 2 for 10% deflection, ASTM E761. 

  

	 	c.	Impact Bond: No cracking or spalling with 60 lb. bag and 4’ height, ASTM E760. 

 

	 	d.	Deflection: No cracking, spalling, delamination or other defect or failure, ASTM E759. 

 

	 	e.	Corrosion Resistance: No corrosion hen tested according to ASTM E937. 

  

	 	f.	Bond Strength: 200 lbs/ft 2 minimum, ASTM E738. 

  

	 	g.	Air Erosion Resistance: 0.25 grams ft2 maximum weight. 

  

	2.	All structural elements (columns, beams, etc.) must have an application to afford three hours of fire resistance. Floors and decking are to be two hours.

  

	3.	Application of fireproofing must adhere to the following guidelines: 

 

	 	a.	Mask and protect adjacent work which could be damaged by over spray or fallout. 

 

	 	b.	Clean substrates of all substances which might be incompatible or inhibit bonding. 

 

	 	c.	Verify that surface members to receive sprayed fireproofing are compatible with fireproofing materials and bonding requirements. 

 

	 	d.	Power clean unpainted members which will receive sprayed fireproofing to remove incompatible materials which could affect bond when scraping, bruising, or washing will
not remove the materials. 

  

	 	e.	Assure that installation of clips, hangers, supports, sleeves, shaft wall runners and other items required to penetrate the sprayed fireproofing work is complete.

  

	 	f.	Verify that ducts, piping, equipment, or other items would interfere with application of fireproofing are not positioned until sprayed fireproofing work is completed.

  
 14 

 APPENDIX D 
 SUBMITTAL OF DRAWINGS 
 The Tenant shall submit design and construction drawings of the
proposed work to Beal. Management Office for approval Beal Management Office will review for impact on neighboring Tenants, consistency with the Building’s operational strategies, and compliance with the design guidelines and construction
specifications. 
 Plans 
  

	1.	The recommended first submittal shall be a space study indicating the proposed office layout and all required exits. The study shall include egress calculations for
tenant space, indicate population loads, exit unit requirements, travel distances, and number of required exits. At this time the Tenant should also be prepared to review any special project-related requirements, such as structural reinforcement or
supplemental mechanical, electrical and plumbing systems. 

  

	2.	The required second submittal of plans shall be a complete set of construction documents, consisting of demolition, architectural, mechanical, electrical, life safety,
structural, sprinkler with hydraulic calculations and plumbing, as applicable. These drawings should indicate all special requirements, i.e., supplemental HVAC, floor loading, etc. The drawings must include a cover sheet detailing general terms and
conditions, along with relevant specifications and regulations. This set must also include all necessary detail drawings. A title sheet should include the site plan including the building address, block, lot and zone. All drawings should
predominantly display the tenant and floor involved. All additional project manuals and/or associated specifications will be presented at this time. 

  

	3.	All plans shall be dated and shall identify the Tenant Architect’s name, address and telephone number, Tenant’s name and suite number. All submissions to be
bound and collated on sheets 30” x 42” or 24” x 36”, drawn to a minimum scale of 1/8”. Tenant shall provide copies of all construction-related transmittals to the Beal Management Office. 

 

	4.	Prior to any construction three (3) sets of Building Approved drawings and construction documents must be stamped and signed by the General Manager, Chief Engineer
and Tenant Representative. This indicates agreement on the plans to be used for construction. Each party shall retain one set of drawings for record purposes. 

 

	5.	Please note that plans and drawings must not be folded. 

  

	6.	The Tenant Representative is responsible for submitting immediate written notification to the Management Office of all changes or deviations in the construction from
that shown on the approved construction set of drawings. 

 Review of Construction Documents 

 

	1.	Beal’s Management Office on-site staff will have all documents reviewed for compliance with current regulations and building compatibility. This review will not
absolve the Tenant’s Architects, engineers and contractors from their sole responsibility to design and build in accordance with all applicable regulations in a manner consistent with the Tenants requirements and in an acceptable tradesmen-like
quality. 

  

	2.	The first submittal consisting of an architectural conceptual design will be reviewed and comments returned to the Tenants representative in (7) seven working
days. This submittal should include a space study indicating the proposed office layout and all required exits. 

  

	3.	The second submittal consisting of a complete set of construction documents as outlined under PLANS, will be reviewed and comments returned to the Tenants
representative in (10) ten working days. 

  
 15 

	4.	The third submittal consisting of a complete set of construction documents, amended to incorporate all of the required modifications, from the preceding reviews. These
documents may now be released to building approved general contractors and sub-contractors for bidding purposes. Beal Management Office will not allow construction to commence until such time all relevant code or lease related issues raised by this
project are resolved. A complete set of approved construction documents must be now turned over to the Beal Management Office. 

  

	5.	The filings for permits are to be presented to the Building signed and sealed by all required parties accompanied by two sets of all required signed and sealed project
documents. The Building will keep a copy of all applications and the second set of signed and sealed project documents for its records. 

  

	6.	Tenant shall be responsible for payment of all filing fees and for all controlled inspections, permits, and other code mandated testing/inspections, which will be
performed by the Locality, Building Code consultant or Building’s independent consultants. 

  

	7.	Copies of all approved applications, project documents and permits must be delivered to the Beal Management Office upon their receipt and prior to the commencement of
work. 

  

	8.	During the course of the Project, the Building Representative will receive, in a timely manner, copies of all approved submittals, including shop drawings for all
materials, equipment and systems. 

  

	9.	The Building will receive two (2) sets of installation, operation and maintenance instructions for all architectural, mechanical, electrical, plumbing, fire and
life safety systems and their components. These should be produced in the form of Project Installation, Operation & Maintenance Manuals. 

  

	10.	Upon completion of construction, two (2) sets of as-built drawings must be submitted to the Beal Management Office, indicating all changes and deviations from the
previously approved construction set of drawings. This set shall be dated and marked “As-Built, for Record” and shall be signed by both the Tenant and the Tenant’s Architect. This set will include all “As-Built” shop
drawings from the respective mechanical, electrical, life safety trades and with any CAD files in AUTOCAD format. 

Construction Schedule 
  

	1.	Prior to any construction, the contractor should prepare a work schedule to be approved by the Beal Management Office and the Tenant. The schedule should include work
start date and anticipated completion date; the schedule will be based on the work to be performed as indicated on the Tenant’s approved construction documents. In addition, the schedule shall clearly indicate the anticipated dates for all
work, which can be reasonably expected to impact or disrupt the normal functioning of the Building or other Tenants. 

  
 16 

 APPENDIX E 
 RULES AND REGULATIONS 
 The following information outlines the rules and regulations for
contracted service personnel that shall be followed by all Service Contractors working at The Arsenal on the Charles. No deviation or exception will be permitted without the expressed, written approval of Agent. Questions or comments should be
directed to the Beal Management Office; 617-923-4500. 
  

	1.	Prior to any activities, Service Contractor shall agree to abide by and conform to these R&R’s and shall acknowledge such agreement for itself and all others
performing any portion of the Work by or through the Service Contractor, including subcontractors and material suppliers by executing these R&R’s where shown. 

 

	2.	If Service Contractor is hired directly by Tenant, Tenant will be primarily responsible for Tenant’s Service Contractor and its subcontractors, workmen, suppliers,
etc. Any action detrimental to the Property is the sole responsibility of the Tenant. Service Contractor shall be responsible for enforcing these R&R’s with all its subcontractors, workmen suppliers, etc. 

 

	3.	Plans and specifications setting forth all architectural, mechanical, electrical and other aspects of the Work to be performed by the Service Contractor shall be
submitted and approved by Agent in writing prior to commencement of Work. Upon completion, Service Contractor shall deliver to Agent “As-built” drawings of electrical, mechanical and any deviations from original approved plans. Electrical
panels must be labeled. 

  

	4.	All costs, including but not limited to, costs for permits, fees and licenses necessary for the execution of Contract Duties shall be the sole and exclusive obligation
of the Service Contractor or its subcontractors. 

  

	5.	Service Contractor shall be responsible for its actions on site as well as those of its subcontractors. Service Contractor shall promptly repair any damage to the
Property caused by Service Contractor or its subcontractors or material suppliers at no cost to Owner or Agent. Care shall be taken to protect ceilings, walls, doors, and carpets of public areas when moving construction materials, trash, etc.

  

	6.	Service Contractor is responsible for the security in the work area and at its expense shall provide its own watchman as required. All risk of loss to all property of
the Service Contractor and its subcontractors, including but not limited to, tools and materials located on the Property, shall be the sole and exclusive responsibility of Service Contractor and its subcontractors, and Agent shall have no
responsibility. 

  

	7.	Service Contractor shall give all notices and comply with laws, ordinances, rules, regulations and orders of any public authority bearing on the performance of the
Contract Duties. 

  

	8.	All workers shall maintain their actions while at the Property in a professional manner to include but not limited to: 

 

	 	a.	No abusive language. 

  

	 	b.	No alcohol or drugs. 

  

	 	c.	No smoking or drinking in public areas. 

  

	 	d.	No use of radios in areas that are accessible to the public or from which the public may hear them being played. 

Agent reserves the right to add other restrictions to those listed above as may be deemed necessary to provide for the comfort and safety of the Tenants.

  
 17 

	9.	No storage of supplies or trash will be allowed on the Property at any time. All work and adjacent areas are to be kept clean and free of trash, debris and non-useful
materials at all times at Service Contractor’s cost. Failure to do so will result in Agent providing this service and charging the Service Contractor accordingly. 

 

	10	No storage of flammable substances will be allowed at the Property unless approved by Agent and in accordance with approved building codes and regulations.

  

	11.	No interviewing of job applicants or subcontractors will be allowed on-site without prior written approval by Agent and prior scheduled appointment.

  

	12.	There will be absolutely no use of Tenant and/or Building property to include, but not limited to, telephones, dollies, ladders, photocopiers, vacuums, etc. unless
specifically approved in writing by Agent prior to its use. 

  

	13.	All deliveries will be scheduled with Agent. A prior notification of at least 24 hours but not more than seven days is required. Scheduling of elevator time through
Agent for deliveries and trash removal will be the responsibility of Service Contractor. 

  

	14.	Service Contractor shall coordinate with and provide prior written notice to Agent when access to occupied space is required. Service Contractor shall give notice
according to the following schedule. 

  

	 	a.	Less than one hour required in the space; provide 24-hour advance notice. 

  

	 	b.	Less than one day required in the space; provide two days advance notice. 

  

	 	c.	More than one day required in the space; provide three days advance notice. 

 

	15.	All Service Contractors must sign in with the security guard. An Agent’s representative must be contacted that the Contractor is on-site. 

 

	16.	Service Contractor shall not be permitted any identifying signage or advertising unless approved by Agent in writing. 

 

	17.	Service Contractor shall turn off lights and all other equipment at night after completion of work for the day. 

 

	18.	Building hours are 8:00 a.m. to 5:00 p.m. Monday through Friday. Work beyond these hours is subject to approval by Agent. 

 

	19.	The Service Contractor may only use the freight elevator to transport equipment, materials or supplies. Agent reserves the right to restrict times Service Contractor
may use freight elevator. 

  

	20.	Service Contractor shall arrange for pre-inspection of Tenant suites prior to construction to identify items subject to potential claims for breakage, theft, abuse,
damage, etc. Service Contractor’s General Superintendent and Subcontractor Foreman, Tenant Representative, and Agent’s Property Manager and Building Engineer shall attend pre-inspections. 

 

	21.	Service Contractor shall not interfere with other Tenants in such a manner as to cause unnecessary inconvenience or disruption. Work of this nature must be scheduled
before 8:00 a.m. and after 6:00 p.m. Work that disrupts nearby Tenants must cease immediately upon request of the Agent and rescheduled for completion on an after-hour basis. 

 

	22.	Use of odor causing or particulate generating practices during normal business hours is prohibited. 

  
 18 

	23.	Agent shall have the right from time to time as may be required, to inspect or perform work within the property. Agent shall have the right to suspend Service
Contractor’s Work in the property if such work, in the opinion of the Agent, is presenting or may present a danger to life, safety, or property, or in an emergency situation. 

It is expressly understood and agreed that this Agreement shall be for the direct benefit of the Owner. Accordingly, Owner shall be granted the right to
pursue in its own name any rights or remedies against Service Contractor including without limitation, claims for damages granted to other parties under the Agreement. 

  
 19 

 APPENDIX F 
 ARCHITECTURAL AND ENGINEERING GUIDELINES 
 This memorandum will summarize the basic
requirements of the sixth edition of the Massachusetts State Building Code (MSBC) applicable to the building at 311 Arsenal Street, Watertown. It includes the conditions imposed by MSBC Appeal Board in its decision to permit the roof trusses of
the building to remain without fire rating. 
 Basic Building Code Requirements 
 The basic requirement of the MSBC applicable to this building are summarized in Table No. 1. The occupancy and building characteristic that are the basis for those requirements are identified at the
beginning of that table. Any deviation from those characteristics including changes of occupancy must be made in compliance with the building code and the intent of the variance which was granted with respect to the roof assembly. 

Conditions on the Variance 
 Two sets of
conditions have been imposed on the design and construction of the building in order to justify the variance to permit the roof trusses and deck to be unrated. These are in addition to the standard features of the building required by the building
code based on its occupancy and physical characteristic. Those requirements are summarized in Table No. 1. 
 First, in the presentation of
technical arguments for the variance, it was represented that the following fire protection features would be provided in the building: 
  

	 	1.	One connection to the site water mains which are supplied from the Watertown municipal water system. 

 

	 	2.	A fire pump to boost system pressures to required levels. 

  

	 	3.	A standby power supply for the fire pump. 

  

	 	4.	A system of combined standpipe risers to supply sprinkler systems of each floor as well as hose connections within exit stairs. 

 

	 	5.	Three sprinkler systems per floor with each arranged to be supplied from two separate standpipes. 

 

	 	6.	Complete supervision of all operation characteristics and components of the sprinkler and standpipe systems. 

 

	 	7.	Complete coverage of all levels of the building with automatic smoke detectors. 

 All of these features have been provided as part of the base building except that tenant sprinkler systems must be arranged to be supplied from two separate standpipes and tenant space fire alarm systems
must include complete coverage with an addressable automatic smoke detection system for all floors. 
 Second, two conditions were imposed on
the fourth floor of the building by the Appeal Board in its decision. One condition requires that ceilings, where provide, have a one hour fire rating. This requirement may be applicable to fully enclosed offices, toilet rooms, storage rooms,
equipment rooms and similar spaces which are provided with ceilings suspended or framed below the roof trusses. The decision also required that sprinklers be installed both above (in the truss space) and below the ceilings (in the use space), where
ceilings are provided. 
 The requirement for a one hour ceiling may be satisfied by installation of a ceiling assembly which has a one hour
“finish rating” by standard Underwritten Laboratories’ test criteria. Such a ceiling will typically require two layers of 5/8 inch Type X gypsum-board appropriately attached to framing above. The ceiling membranes of UL Floor/Ceiling
Assembly Design No. L532 or L505 would be appropriate for this purpose. The intended fire rating will only be achieved if the ceiling membrane is provided with connections and support equal to that provided by the floor assembly to which it is
attached in the UL Design (ie. Spacing of framing, frequency of fastener, etc.). 

  
 20 

 Floor Systems 
 2. Provide 2 hour fire ratings for floor/ceiling assemblies as required for construction Type 1B. (T-602). 
 3. Provide multiple floor openings arranged as an atrium having features as summarized in Table No. 1. (713.3, Exception 5, 404.0) 
 Interior Walls and Partitions 
 4. Provide unrated partitions for enclosure of exit
access corridors. (1011.4)
 5. Provide one hour rated partitions as tenant-to-tenant separation walls. (T-602). 

6. Provide two hour fire enclosures for stairway, elevator and mechanical shafts which connect more than three stories and one hour fire rated
enclosures for stairway and mechanical shafts which connect three stories or less. (T-602, 1014.11, 710.3) 
 7. Provide two hour fire
rated enclosures of all rooms, shafts and closets containing equipment and wiring for emergency power generation, distribution and control. (MA Electrical Code, 700-10). 
 8. Provide one hour fire rated walls with  3/4
hour opening protective around the following specific occupancy areas: 
  

	 	•	 	 Trash rooms 

  

	 	•	 	 Physical Plant and Maintenance Shops (302.1.1, T-302.1.1) 

 9. Provide smoke partitions designed to resist the passage of smoke constructed of combustible or non-combustible materials which extend from the floor below to the underside of the floor or roof
above around the following specific occupancy areas: 
  

	 	•	 	 Storage rooms over 50 sq. ft. in area (302.1.1, T-302.1.1) 

 10. Provide doors to the areas identified in Item 9 which are self closing or arranged for automatic closing upon detection of smoke. (302.1.1.1)

Exterior Walls and Roof 
 11.
Provide three hour fire ratings for interior and exterior columns supporting more than one floor and two hour fire ratings for columns supporting only one floor or the roof. (T-602). 
 12. Provide unrated non-bearing exterior wall components for the building walls. (705.2, T-705.2). 
 13. Utilize unlimited openings in exterior walls. (705.3, T-705.3). 
 No rating is required
for exterior walls of a sprinklered building of use Group B occupancy when the fire separation distance for the wall is greater than 5 feet. Unlimited exterior wall openings are permitted in such a wall when the wall has a fire separation distance
of more than 20 feet. 
 The fire separation distance of the Arsenal Street wall measured to the centerline of Arsenal Street is 48 feet. The
fire separation distances of walls not facing immediately adjacent buildings are well in excess of 20 feet. 
 The physical distance between
building 311 and the Harvard Printing Building is approximately 37 feet. A fire separation distance of greater than 15 feet for the Harvard Printing Building permits that budling to have an unrated exterior wall with not more than 70% openings. The
remaining 22 feet is considered the fire separation distance for Building 311. That distance allows the unrated exterior wall with essentially 100% openings that are provided on Building 311. 

  
 21 

 The physical distance between Building 311 and the adjacent parking garage is approximately 55 feet. That
physical distance permits a fire separation distance of greater than 30 feet for the parking garage and greater that 20 feet for Building 311. In that situation, the exterior wall of Building 311 is permitted to be unrated and have unlimited
exterior openings. 
 14. Do not provide fire rated exterior walls for exit stair enclosures or for the exterior walls of use spaces
adjacent to exterior walls of exit stairs. (Compliance alternative 1014.11.1). 
 MSBC Section 1014.11.1 requires that either the exterior
walls of exit stair enclosures have a one hour rating and have protected openings of that the exterior walls of adjacent use spaces within 10 feet of the stair enclosure be treated in that manner. 

As a compliance alternative to strict compliance with the requirement for exterior wall rating and opening protectives wither within or adjacent to an
exit stair, close spaced automatic sprinklers will be provided to protect the exterior glass of the stair enclosure. Those sprinklers will help to maintain the integrity of the stairway windows under potential fire exposure. 

15. Do not provide opening protection for any exterior wall openings in this fully sprinklered building. (705.3.1). 

16. Do not provide a fire rated spandrel panel or wall on this fully sprinklered building. (705.4, Exception 2). 

Fire Alarm System 
 17. Provide a
fire alarm system having the basic features required by Section 917 and additional features required by the atrium Section 404.0. (917.4.2). 
 18. Provide addressable system connected automatic some detectors throughout all levels of the building. (NR/Condition of variance). 
 Complete coverage of the building with addressable type smoke detectors was offered as part of the justification of the requested variance from fire rating requirements applicable to the roof assembly.
Such protection is considered a condition of the variance. 
 19. Activate the fire alarm system using manual pull stations, water-flow
detectors of the sprinkler system and smoke detectors of the atrium exhaust system. (917.7.1). 
 Means of Egress 

20. Provide 2 doors to the corridor system from all rooms or spaces with an occupant load of more than 50 persons or in which the travel distance
exceeds 75 feet. (T-1017.2). 
 21. Install doors which serve rooms with occupants loads of 50 or more persons so as to awing in the
direction of egress travel. (1017.4). 
 22. Where two exit or exit access doors are required from a room or other space, separate the
doors by a distance equal to or greater than one quarter of the longest diagonal of the area served. (1006.4.1)
 23. Limit dead ends of
corridors to not more than 20 feet. (1011.2). 
 24. Limit the length of a common path of travel in the Use Group B spaces to not more
than 100 feet. (1011.2.1). 

  
 22 

 25. Provide unrated exit access corridor enclosures. (1011.4.). 

26. Provide unrated corridor doors. (1011.4.2). 
 27. Provide corridors with a minimum clear width of 44 inches. (1011.3). 
 28.
Utilize interior exit stairs designed in accordance with MSBC Section 1014.0 as the required exits of the building. (1014.0). 
 29.
Provide sufficient egress capacity for the occupant load of each floor of the building separately. (1009.1, 1009.3). 
 At the code
specified area allowance of 100 square feet per person and with an area of not more than 147,000 square feet, the occupant load of the largest floor of the building will be 1,470 persons. There will be four 44 inch wide exits stairs and seven 48
inch wide exit stairs provided from the upper stories of the building will each have a capacity of 220 persons. The total capacity available from those stairs at an allowance of 0.20 inches per person will be 2,560 persons, well in excess of the
project population. 
 30. Locate exits as required to limit travel distances to less than 150 feet in spaces not separated from the
atrium and 250 feet in spaces separated from the atria. (404.7, T-1006.5). 
 31. Provide exit discharge from exit stairs directly to the
outside, through rated passageways, sprinklered lobbies or small vestibules. (1020.0). 
 Elevators 

32. Provide all elevators having a travel of 25 feet or more with characteristics and controls for fire emergency use in accordance with the MA
Elevator Code. (MA Elevator Code, 17.39). 
 33. Provide one elevator which serves all floors of the building with characteristics and
controls to permit emergency medical use in accordance with the MA Elevator Code. (MA Elevator Code, 17.40). 
 Sprinkler Systems

 34. Provide a complete automatic suppression system in all portions of the building in accordance with the requirements of
Article 9. (904.2, 404.2). 
 Standpipe 
 35. Provide fire standpipes in the building with hose connections located in accordance with the criteria of NFPA 14. (914.4, 914.5). 
 Water Supply 
 36. Provide water supplies for the sprinkler and standpipe systems
using a connection to the municipal water supply. (NFPA 13, 14). 
 37. Size the supply piping of the combined sprinkler and standpipe
water supply system in accordance with the criteria of NFPA 14. (914.3). 
  

	38.	Provide connections of each sprinkler system to two separate standpipe risers. (NR/Condition of variance). 

  
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 Emergency Power 
 39. Provide an emergency generator to provide standby power for the fire alarm system, exit signs, emergency lights, the atria smoke control systems and the fire pump. (917.6, 1023.4,1024.4, 921.5,
Condition of variance). 
 The provisions of standby power for the fire pump was a condition of the variance from the requirements for the fire
rating of the roof assembly. 
 Interior Finish 
 40. Utilize interior finish as follows: 
  

	 	•	 	 Class I interior finish within all exit stairs. 

  

	 	•	 	 Class II or better interior finish within all exit access corridors serving only office areas. 

 

	 	•	 	 Class III or better interior finish within rooms or spaces of assembly and office areas. (T-803.4). 

41. Utilize traditional floor coverings such as wood, vinyl, linoleum, terrazzo or other resilient floor finish material or carpeting which
complies with the DOC FF-1 “pill test” (CPSC 16 CFR, Part 1630) in all spaces including exits and exit access corridors. (805.3, Exception). 

  
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 TABLE NO. 1 
 Summary of Atrium Requirements 
 Massachusetts States Building Code —
Sixth Edition 
  

	1	Classify any openings in the floor systems connecting two or more stories as an atrium. (404.1). 

 

	2	Provide a complete automatic suppression system in the portions of the building not separated from the atrium by two hour fire separation partition and floor assemblies
(404.2). 

  

	3	Limit the use of the floor of the atrium low hazard uses with approved materials and decorations unless appropriately protected with automatic fire suppression system.
(404.3). 

  

	4	Allow exit discharge through the atrium in accordance with the rules for exit discharge through a lobby in Section 1020.0. (404.3.1). 

 

	5	Provide a smoke control system as required by Section 921.0. (404.4) 

  

	6	Separate the atrium from adjacent spaces by 1-hour fire separation walls, fire rated windows or tempered, wired or laminated glass walls constructed as required by
Section 404.5 [Exception 2] except as noted in Item 7 below (404,5). 

  

	7	Allow up to three levels of the building to be open to the atrium without the separation required by Item 6. (404.5, Exception 3). 

Only limited portions of the First Floor of the building will be open to the atrium. Most spaces will be separated from the atrium spaces by glass walls
protected by closely spaced sprinklers. 
  

	8	Provide automatic smoke detectors within and at the perimeter of the atrium and on the ceilings of spaces not separated from the atrium (404.6.)

 The extent of coverage by smoke detectors is not explicitly stated in the code. Coverage should be provided in the area
immediately surrounding the atrium and all corridors which are open to the atrium. The specific extent of coverage should be determined in discussions with the authorities having jurisdiction. 

 

	9	Arrange automatic smoke detectors within the atrium space to sound fire alarms upon activation of an two or more of the detectors. (Not required).

 No explicit requirement that two or more smoke detectors be required to operate before fire alarms are sounded is found in the
current edition of the code. However, that means of operation is one reasonable approach to limiting the effect of false alarms from smoke detectors (Such a requirement did appear in previous editions of the NBC.) Other technical approaches to
limiting the false alarm problem are available such as addressable detectors and alarm confirmation circuits. The specific arrangement of the detection system in this facility should be determined in discussions with the authorities having
jurisdiction 
  

	10	Activate the fire alarm system using signals from sprinkler system water-flow detectors and manual pull stations. (406.6, 917.7,1). 

 

	11	Utilize a voice or non-voice alarm system which complies with the detailed provisions of Section 917.9. (404.6) 

 

	12	Limit the distance of exit access travel within the atrium on other than the lowest levels of the building to not more than 150 feet. (404.7).

  
 25

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