Document:

EX-10.1

 Exhibit 10.1 

SUBSCRIPTION AGREEMENT 

1. The Parties. THIS SUBSCRIPTION AGREEMENT (this “Agreement”) is entered into effective as of the 14th day of October, 2013, by and between PURE BIOSCIENCE, INC., a Delaware corporation (alternatively referred to herein as the “Issuer” or the “Company”), and the
purchaser identified on Exhibit “A”, attached hereto and incorporated herein by reference (the “Purchaser”). The Company and the Purchaser are sometimes referred to collectively herein as the “Parties”,
and each individually as a “Party”. 
 2. Recitals. The Parties acknowledge and understand that the Company
is currently offering for sale $2,500,000 worth of shares of its Common Stock, $.01 par value per share (the “Shares”), having the rights, privileges, and preferences as set forth in the Certificate of Incorporation of the Company
(the “Certificate”). This offering is made pursuant to detailed financial and due diligence information and documentation previously delivered to the Purchaser, the receipt of which is hereby acknowledged (the “Due Diligence
Information”). The Parties further understand that the offering is being made without registration of the Shares under the Securities Act of 1933, as amended (the “Securities Act”), and is being made to the Purchaser in its
capacity as an “accredited investor” (as defined in Rule 501 of Regulation D under the Securities Act). 
 3.
Subscription. Subject to the terms and conditions hereof, the Purchaser hereby irrevocably subscribes for that number of Shares referenced on Exhibit “A” (the “Purchased Shares”), at the purchase price per Share
also referenced on Exhibit “A”, for the total purchase price also referenced on Exhibit “A”. The purchase price is payable in accordance with Section 6, below. The Parties acknowledge that the Shares will be subject to
restrictions on transfer pursuant to other agreements which may be executed by and between the Parties, and as further set forth in this Agreement. 

4. Acceptance of Subscription and Issuance of Shares. It is understood and agreed that the Company shall have the sole right, at
its complete discretion, to accept or reject this subscription, in whole or in part, for any reason and that the same shall be deemed to be accepted by the Company only when it is signed by a duly authorized officer of the Company and delivered to
the Purchaser at the Closing referred to in Section 5 hereof. Notwithstanding anything in this Agreement to the contrary, the Company shall have no obligation to issue any of the Shares to any person who is a resident of a jurisdiction in which
the issuance of Shares to it would constitute a violation of the securities, “blue sky” or other similar laws of such jurisdiction (collectively referred to as the “State Securities Laws”). 

5. Closing and Closing Date. The closing of the purchase and sale of the Shares (the “Closing”) shall take
place at the offices of the Company, on the day designated by the Company (the “Closing Date”), or at such place as the Parties may agree. 

6. Payment for Shares. Payment for the Shares shall be received by the Company from the Purchaser by check, cashier’s check
or wire transfer of immediately available funds at or prior to the Closing. As soon as practicable after the Closing the Company shall deliver to the Purchaser a certificate for the Purchased Shares. 

7. Representations and Warranties of the Company. As of the Closing, the Company represents and warrants that: 

(a) The Company is duly incorporated, validly existing and in good standing under the laws of the State of Delaware, with full
power and authority to conduct its business as it is currently being conducted and to own its assets and has secured any other authorizations, approvals, permits and orders required by law for the conduct by the Company of its business as it is
currently being conducted. 
 (b) The Company has duly authorized the issuance and sale of the Purchased Shares upon the
terms of their offer by all requisite corporate action. The Company has reserved for issuance such number of Shares. 

  
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 (c) The Purchased Shares, when issued and paid for, will represent validly
authorized, duly issued and fully paid and nonassessable Shares of the Company, and the issuance thereof will not conflict with the certificate of incorporation or bylaws of the Company nor with any outstanding warrant, option, call, preemptive
right or commitment of any type relating to the Company’s capital stock. The Purchased Shares shall have the rights, preferences and privileges set forth in the Certificate. 

(d) No representation or warranty by the Company in this Agreement, and no statement by an officer of the Company contained in
any document, certificate or other writing furnished to the Purchaser in connection with the transactions contemplated hereby, when taken as a whole, contains any untrue statement of a material fact or omits to state any material fact necessary to
make statements herein or therein not misleading in light of the circumstances in which they are made. 
 (e) The Company has
filed all reports, schedules, forms, statements and other documents required to be filed by the Company under applicable federal securities laws (collectively referred to herein as the “SEC Reports”). 

(f) As of the Closing, the consummation by the Company of the transactions herein contemplated, including the execution,
delivery and consummation of this Agreement, will comply with all applicable law and will not: 
 (1) Violate any judgment,
statute, law, code, act, order, writ, rule, ordinance, regulation, governmental consent or governmental requirement, or determination or decree of any arbitrator, court, or other governmental agency or administrative body, which now or at any time
hereafter may be applicable to and enforceable against the relevant party, work, or activity in question or any part thereof (collectively, “Requirement of Law”) applicable to or binding upon the Company or any of its assets; 

(2) Violate (i) the terms of the Certificate or Bylaws of the Company; or, (ii) any material agreement, contract,
mortgage, indenture, bond, bill, note, or other material instrument or writing binding upon the Company or to which the Company is subject; or 

(3) Result in the breach of, constitute a default under, constitute an event which with notice or lapse of time, or both, would
become a default under, or result in the creation of any lien, security interest, charge or encumbrance upon any of the assets or other properties of the Company under any agreement, commitment, contract (written or oral) or other instrument to
which the Company is a party, or by which the assets or other properties of the Company are bound or affected. 
 8. Representations
and Warranties of the Purchaser. The Purchaser hereby represents and warrants that: 
 8.1 General.

 (a) The Purchaser has all requisite authority to enter into this Agreement and to perform all the obligations required to
be performed by the Purchaser hereunder. 
 (b) The Purchaser is a resident of the state (or, was formed in the state, as
appropriate) referenced on Exhibit “A”. 
 (c) The Purchaser is not acquiring the Purchased Shares as an agent or
otherwise for any other person. 

  
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 (d) As of the Closing, the consummation by the Purchaser of the transactions
herein contemplated, including the execution, delivery and consummation of this Agreement, will not violate any Requirement of Law applicable to or binding upon the Purchaser. 

8.2 Information Concerning the Company. 

(a) The Purchaser has received a copy of the Due Diligence Information. The Purchaser has not been furnished any offering
literature other than the Due Diligence Information, and the Purchaser has exclusively relied only on the information contained therein and in the SEC Reports. 

(b) The Purchaser is familiar with the business and financial condition, properties, operations, and prospects of the Company,
and that there are no guarantees of the success of the Company. The Purchaser has been given the opportunity to obtain any information necessary to verify the accuracy of the information set forth in the Due Diligence Information and in the SEC
Reports and has been furnished all such information so requested. 
 (c) The Purchaser understands that, unless it notifies
the Company in writing to the contrary at or before the Closing, all of the representations and warranties contained in Section 8 of this Agreement will be deemed true and correct as of the Closing by the Purchaser in all respect with the same
effect as thought made on closing taking into account all information received by purchaser from the Company. 
 (d) The
Purchaser understands that the purchase of the Purchased Shares involves various risks, including those outlined in the SEC Reports. 

(e) The Purchaser understands that no federal or state agency has passed upon the Purchased Shares or made any finding or
determination concerning the fairness or advisability of this investment. 
 (f) The Purchaser understands that estimates and
projections like those contained in the Due Diligence Information, by their nature, involve significant elements of subjective judgment and analysis that may or may not be correct; that there can be no assurance that such projections or goals will
be attained; and, that the projections and estimates contained in the Due Diligence Information should not be relied upon as a promise or representation of the future performance of the Company. 

8.3 Accredited Investor Status. 

(a) The Purchaser is an “accredited investor” as defined in Rule 501(a) under Regulation D of the Securities Act. The
Purchaser agrees to furnish any additional information requested to assure compliance with applicable federal and state securities laws in connection with the purchase and sale of the Shares, and further acknowledges that it has completed the
Accredited Investor Questionnaire, attached hereto as Exhibit “B”, and that the information contained therein is complete and accurate as of the date thereof and is hereby affirmed as of the date of the Closing. 

(b) The Purchaser has such knowledge, skill, and experience in business, financial and investment matters so that it is capable
of evaluating the merits and risks of an investment in the Purchased Shares. To the extent necessary, it has retained, at its own expense, and relied upon, appropriate professional advice regarding the investment, tax and legal merits and
consequences of this Agreement and owning the Purchased Shares. 
 . 

  
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 8.4 Purchase Transaction and Restrictions on Transfer or Sale of the
Shares. 
 (a) The Purchaser is acquiring the Purchased Shares solely for its own beneficial account, for investment
purposes, and not with a view to, or for resale in connection with, any distribution of the Purchased Shares. The Purchaser understands that the Purchased Shares have not been registered under the Securities Act or any State Securities Laws by
reason of specific exemptions under the provisions thereof which depend in part upon the investment intent of the Purchaser and of the other representations made by the Purchaser in this Agreement. The Purchaser understands that the Company is
relying upon the representations and agreements contained in this Agreement (and any supplemental information) for the purpose of determining whether this transaction meets the requirements for such exemptions. 

(b) As of the Closing the Purchaser will be purchasing the Purchased Shares based upon its own independent investigation and
evaluation of the Company and its prospects, and the covenants, representations, and warranties of the Company set forth herein. The Purchaser is expressly not relying on any oral representations made by the Company or any of its agents. 

(c) The Purchaser understands that the Purchased Shares are “restricted securities” under applicable federal
securities laws and that the Securities Act and the rules of the Securities and Exchange Commission (the “Commission”) provide in substance that the Purchaser may dispose of the Purchased Shares only pursuant to an effective
registration statement under the Securities Act or an exemption therefrom, and the Purchaser understands that the Company is obligated to satisfy has no obligation or intention to register any of the Purchased Shares, or to take action so as to
permit sales pursuant to the Securities Act (including Rule 144 thereunder). Accordingly, the Purchaser understands that under the Commission’s rules, the Purchaser may dispose of the Purchased Shares principally only in “private
placements” which are exempt from registration under the Securities Act, in which event the transferee will acquire “restricted securities” subject to the same limitations as in the hands of the Purchaser. As a consequence, the
Purchaser understands that it must bear the economic risks of the investment in the Purchased Shares for an indefinite period of time. 

(d) The Purchaser has not offered or sold any portion of the Purchased Shares and has no present intention of dividing the
Purchased Shares with others or of reselling or otherwise disposing of any portion of the Purchased Shares either currently or after the passage of a fixed or determinable period of time or upon the occurrence or nonoccurrence of any predetermined
event or circumstance. 
 (e) The Purchaser acknowledges that neither the Company nor any other person offered to sell the
Purchased Shares to it by means of any form of general advertising, such as media advertising or seminars. 
 (f) The
Purchaser has not used any person as a “purchaser representative” within the meaning of SEC Regulation D to represent it in determining whether it should purchase the Shares, unless otherwise specifically disclosed to, and acknowledged by,
the Company in writing. 
 9. Obligations Irrevocable. The obligations of the Purchaser to effect the purchase hereunder shall
be irrevocable, except in the event of a breach of a material provision of this Agreement by the Company or abandonment by the Company pursuant to Section 8.4(h). 

10. Legend. Each certificate for Purchased Shares will be imprinted with a legend in substantially the following form: 

  
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 “THE SECURITIES REPRESENTED BY THIS INSTRUMENT HAVE NOT BEEN REGISTERED UNDER THE SECURITIES
ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY STATE SECURITIES LAWS, AND MAY NOT BE SOLD OR TRANSFERRED OR OFFERED FOR SALE OR TRANSFER UNLESS A REGISTRATION STATEMENT UNDER THE SECURITIES ACT AND OTHER APPLICABLE SECURITIES LAWS
WITH RESPECT TO SUCH SECURITIES IS THEN IN EFFECT, OR IN THE OPINION OF COUNSEL, SUCH REGISTRATION UNDER THE SECURITIES ACT AND OTHER APPLICABLE SECURITIES LAWS IS NOT REQUIRED.” 

11. Brokers. The Purchaser has not entered into any agreement to pay any broker’s or finder’s fee to any Person with
respect to this Agreement or the transactions contemplated hereby. In the sole discretion of the Company it may retain brokers and finders, the payment which, if any, will be the sole responsibility of the Company. 

12. Registration Rights. On or prior to sixty (60) days after the Closing Date the Company shall prepare and file with the
Commission a “Shelf” Registration Statement covering the resale of the Purchased Shares for an offering to be made on a continuous basis pursuant to Rule 415 under the Securities Act. The Registration Statement shall be on Form S-1 and
shall contain (unless otherwise directed by the Purchaser) a “Plan of Distribution” reasonably agreed upon the Purchaser and the Company. Subject to the terms of this Agreement, the Company shall use its best efforts to cause the
Registration Statement to be declared effective under the Securities Act as promptly as possible after the filing thereof, and shall use its best efforts to keep such Registration Statement continuously effective under the Securities Act until all
Purchased Shares covered by such Registration Statement have been sold or may be sold without volume restrictions pursuant to Rule 144(k) as determined by the counsel to the Company pursuant to a written opinion letter to such effect, addressed and
acceptable to the Company’s transfer agent and the Purchaser. The Company shall immediately notify the Purchaser via facsimile or E-Mail of the effectiveness of the Registration Statement not later than 2-days after the Company receives
notification of the effectiveness from the Commission. 
 13. Additional Provisions. 

13.1 Executed Counterparts. This Agreement may be executed in any number of counterparts, all of which when taken
together shall be considered one and the same agreement, it being understood that all Parties need not sign the same counterpart. In the event that any signature is delivered by fax or by e-mail delivery of a “.pdf” format data file, such
signature shall create a valid and binding obligation of the Party executing (or on whose behalf such signature is executed) with the same force and effect as if such facsimile or “.pdf” signature page were an original thereof. Each of the
Parties hereby expressly forever waives any and all rights to raise the use of a fax machine or E-Mail to deliver a signature, or the fact that any signature or agreement or instrument was transmitted or communicated through the use of a fax machine
or E-Mail, as a defense to the formation of a contract. 
 13.2 Successors and Assigns. Except as expressly
provided in this Agreement, each and all of the covenants, terms, provisions, conditions and agreements herein contained shall be binding upon and shall inure to the benefit of the successors and assigns of the Parties hereto. 

13.3 Article and Section Headings. The article and section headings used in this Agreement are inserted for
convenience and identification only and are not to be used in any manner to interpret this Agreement. 
 13.4
Severability. Each and every provision of this Agreement is severable and independent of any other term or provision of this Agreement. If any term or provision hereof is held void or invalid for any reason by a court of competent
jurisdiction, such invalidity shall not affect the remainder of this Agreement. 

  
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 13.5 Governing Law. This Agreement shall be governed by the laws of
the State of Delaware, without giving effect to any choice or conflict of law provision or rule (whether of the State of Delaware or any other jurisdiction) that would cause the application of the laws of any jurisdiction other than the State of
Delaware. The laws of the State of Delaware shall only apply to the extent necessary to comply with such law in light of the fact that the Company is a Delaware corporation. Each Party agrees that all legal proceedings concerning the
interpretations, enforcement and defense of the transactions contemplated by this Agreement (whether brought against a Party or its respective affiliates, directors, officers, shareholders, employees or agents) shall be commenced exclusively in the
state and federal courts sitting in the County of San Diego. Each Party hereby irrevocably submits to the exclusive jurisdiction of the state and federal courts sitting in the County of San Diego, State of California, for the adjudication of any
dispute hereunder or in connection herewith or with any transaction contemplated hereby or discussed herein, and hereby irrevocably waives, and agrees not to assert in any suit, action or proceeding, any claim that it is not personally subject to
the jurisdiction of any such court, that such suit, action or proceeding is improper or is an inconvenient venue for such proceeding. 

13.6 Entire Agreement. This Agreement, and all references, documents, or instruments referred to herein, contains
the entire agreement and understanding of the Parties hereto in respect to the subject matter contained herein. The Parties have expressly not relied upon any promises, representations, warranties, agreements, covenants, or undertakings, other than
those expressly set forth or referred to herein. This Agreement supersedes any and all prior written or oral agreements, understandings, and negotiations between the Parties with respect to the subject matter contained herein. 

13.7 Additional Documentation. The Parties hereto agree to execute, acknowledge, and cause to be filed and
recorded, if necessary, any and all documents, amendments, notices, and certificates which may be necessary or convenient under the laws of the State of Delaware. 

13.8 Attorney’s Fees. If any legal action (including arbitration) is necessary to enforce the terms and
conditions of this Agreement, the prevailing Party after final judgment shall be entitled to costs and reasonable attorney’s fees. 

13.9 Amendment. This Agreement may be amended or modified only by a writing signed by all Parties. 

13.10 Remedies. 

(a) Specific Performance. The Parties hereby declare that it is impossible to measure in money the damages which
will result from a failure to perform any of the obligations under this Agreement. Therefore, each Party waives the claim or defense that an adequate remedy at law exists in any action or proceeding brought to enforce the provisions hereof. 

(b) Cumulative. The remedies of the Parties under this Agreement are cumulative and shall not exclude any other
remedies to which any person may be lawfully entitled. 
 13.11 Waiver. No failure by any Party to insist on
the strict performance of any covenant, duty, agreement, or condition of this Agreement or to exercise any right or remedy on a breach shall constitute a waiver of any such breach or of any other covenant, duty, agreement, or condition. 

13.12 Assignability. This Agreement is not assignable by either Party without the expressed written consent of
all other Parties. 
 13.13 Notices. 

(a) Method and Delivery. All notices, requests and demands hereunder shall be in writing and delivered by hand,
by Electronic Transmission, by mail, by telegram, or by recognized 

  
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commercial over-night delivery service (such as Federal Express, UPS, or DHL), and shall be deemed given (a) if by hand delivery, upon such delivery; (b) if by Electronic Transmission,
upon telephone confirmation of receipt of same; (c) if by mail, forty-eight (48) hours after deposit in the United States mail, first class, registered or certified mail, postage prepaid; (d) if
by telegram, upon telephone confirmation of receipt of same; or, (e) if by recognized commercial over-night delivery service, upon such delivery. 

(b) Consent to Electronic Transmissions. Each Party hereby expressly consents to the use of Electronic
Transmissions for communications and notices under this Agreement. For purposes of this Agreement, “Electronic Transmissions” means a communication (i) delivered by facsimile telecommunication or electronic mail when directed
to the facsimile number or electronic mail address, respectively, for that recipient on record with the sending Party; and, (ii) that creates a record that is capable of retention, retrieval, and review, and that may thereafter be rendered into
clearly legible tangible form. 
 13.14 Time. All Parties agree that time is of the essence as to this
Agreement. 
 13.15 Provision Not Construed Against Party Drafting Agreement. This Agreement is the result of
negotiations by and between the Parties, and each Party has had the opportunity to be represented by independent legal counsel of its choice. This Agreement is the product of the work and efforts of all Parties, and shall be deemed to have been
drafted by all Parties. In the event of a dispute, no Party hereto shall be entitled to claim that any provision should be construed against any other Party by reason of the fact that it was drafted by one particular Party. 

13.16 Incorporation of Exhibits and Schedules. The Exhibits and Schedules identified in this Agreement are
incorporated herein by reference and made a part hereof as if set out in full herein. 
 13.17 Recitals. The
facts recited in Section 2, above, are hereby conclusively presumed to be true as between and affecting the Parties. 

13.18 Consents, Approvals, and Discretion. Except as herein expressly provided to the contrary, whenever this
Agreement requires consent or approval to be given by a Party, or a Party must or may exercise discretion, the Parties agree that such consent or approval shall not be unreasonably withheld, conditioned, or delayed, and such discretion shall be
reasonably exercised. Except as otherwise provided herein, if no response to a consent or request for approval is provided within ten (10) days from the receipt of the request, then the consent or approval shall be presumed to have been given.

 13.19 Best Efforts. The Parties shall use and exercise their best efforts, taking all reasonable, ordinary
and necessary measures to ensure an orderly and smooth relationship under this Agreement, and further agree to work together and negotiate in good faith to resolve any differences or problems which may arise in the future. 

13.20 Definitional Provisions. For purposes of this Agreement, (i) those words, names, or terms which are
specifically defined herein shall have the meaning specifically ascribed to them; (ii) wherever from the context it appears appropriate, each term stated either in the singular or plural shall include the singular and plural;
(iii) wherever from the context it appears appropriate, the masculine, feminine, or neuter gender, shall each include the others; (iv) the words “hereof”, “herein”, “hereunder”, and words of similar import,
when used in this Agreement, shall refer to this Agreement as a whole, and not to any particular provision of this Agreement; (v) all references to designated “Articles”, “Sections”, and to other subdivisions are to the
designated Articles, Sections, and other subdivisions of this Agreement as originally executed; (vi) all references to “Dollars” or “$” shall be construed as being United States dollars; (vii) the term
“including” is not limiting and means “including without limitation”; and, (viii) all references to all statutes, statutory provisions, regulations, or similar 

  
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administrative provisions shall be construed as a reference to such statute, statutory provision, regulation, or similar administrative provision as in force at the date of this Agreement and as
may be subsequently amended. 
 ****SIGNATURES APPEAR ON NEXT PAGE**** 

  
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 EXHIBIT “A” 

PURCHASER INFORMATION AND EXECUTION 

The Purchaser hereby subscribes for such number of shares of Stock as set forth below and agrees to be bound by the terms and conditions of
this Agreement. 
  

							
		 	 1.      Purchaser Name:
	 	  
	  	
				
		 	 2.      Purchaser’s Contact Info:
	 		  	
		 	                                Address:	 	  
	  	
		 		 	  
	  	
		 		 	  
	  	
				
		 	                                E-Mail:	 	  
	  	
				
		 	                                Phone:	 	  
	  	
				
		 	                                Fax:	 	  
	  	
				
		 	 3.      Purchase Price Per Share:
	 	Seventy-Five Cents ($0.75)	  	
				
		 	 4.      Number of Shares Purchased:
	 	  
	  	
				
		 	 5.      Total Purchase Price:
	 	  
	  	
			
	
                        
                                         
                          
	 	  
	  	
	 Signature of Purchaser
 (and title,
if applicable)
	 	 Signature of Joint Purchaser
 (if
any)
	  	
			
	
                        
                                         
                          
	 	  
	  	
	Taxpayer Identification or Social
Security Number	 	Taxpayer Identification or Social
Security Number of Joint Purchaser (if any)	  	

									
				
	
DATED:                      
                               
	 	DATED:	 	  
	  	

 Name as it should appear on Stock Certificate: 

 

					
	 	  	  
	  	 

 ACCEPTED BY: 
 PURE BIOSCIENCE,
INC., 
 a Delaware corporation 
  

			
	By:	 	 

			
	
	NAME: Peter C. Wulff
	TITLE: CFO & COO
	DATED:	 	  

  
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 EXHIBIT “B” 

ACCREDITED INVESTOR QUESTIONNAIRE 
  

	1.	IF YOU ARE AN INDIVIDUAL PLEASE FILL IN THE IDENTIFICATION QUESTIONS IN (A). IF YOU ARE AN ENTITY PLEASE FILL IN THE IDENTIFICATION QUESTIONS IN (B) 

 

	 	A.	IDENTIFICATION QUESTIONS FOR INDIVIDUALS 

  

			
	Name:	 	  

			
		
	 Residence Address:
	 	  

			
		
	 Date of Birth:
	 	  

			
		
	Social Security Number:	 	  

  

	 	B.	IDENTIFICATION QUESTIONS FOR ENTITIES 

  

			
	Name:	 	  

			
	Address of Principal Place of Business:	 	  

	  

			
	Type of Entity (corporation, partnership, trust, etc.):	 	  

			
	State (or Country) of Formation or Incorporation:	 	  

			
	Contact Person:	 	  

			
	Telephone Number:	 	  

Was entity formed for the purpose of this investment? Yes          No
          
  

	2.	DESCRIPTION OF INVESTOR 

 The following information is required to ascertain
whether you would be deemed an “accredited investor” as defined in Rule 501 of Regulation D under the Securities Act. Please check whether you are any of the following: 

 ̈ a corporation or partnership with total assets in excess of $5,000,000, not organized for
the purpose of this particular investment; 
  ̈ private business development company as
defined in Section 202(a)(22) of the Investment Advisers Act of 1940 [a U.S. venture capital fund which invests primarily through private placements in non-publicly traded securities and makes available (either directly or through co-investors)
to the portfolio companies significant guidance concerning management, operations or business objectives]; 
  ̈ a Small Business Investment Company licensed by the U.S. Small Business Administration under Section 301(c) or (d) of the Small Business Investment Act of 1958; 

 ̈ an investment company registered under the Investment Company Act of 1940 or a business
development company as defined in Section 2(a)(48) of that Act; 
  ̈ a trust not
organized to make this particular investment, with total assets in excess of $5,000,000 whose purchase is directed by a sophisticated person as described in Rule 506(b)(2)(ii) of the Securities Act of 1933 and who completed item 4 below of this
questionnaire; 
  ̈ a bank as defined in Section 3(a)(2) or a savings and loan
association or other institution defined in Section 3(a)(5)(A) of the Securities Act of 1933 acting in either an individual or fiduciary capacity; 

 ̈ an insurance company as defined in Section 2(13) of the Securities Act of 1933; 

  
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  ̈ an employee benefit plan within the meaning of
Title I of the Employee Retirement Income Security Act of 1974 (i) whose investment decision is made by a fiduciary which is either a bank, savings and loan association, insurance company, or registered investment advisor, or
(ii) whose total assets exceed $5,000,000, or (iii) if a self-directed plan, whose investment decisions are made solely by a person who is an accredited investor and who completed Part I of this questionnaire; 

 ̈ a charitable, religious, educational, or other organization described in
Section 501(c)(3) of the Internal Revenue Code, not formed for the purpose of this investment, with total assets in excess of $5,000,000; 

 ̈ an entity not located in the U.S. none of whose equity owners are U.S. citizens or U.S.
residents; 
  ̈ a plan having assets exceeding $5,000,000 established and maintained by a
government agency for its employees; 
  ̈ an individual who had individual income from all
sources during each of the last two years in excess of $200,000 or the joint income of you and your spouse (if married) from all sources during each of such years in excess of $300,000, and who reasonably expects that either your own
income from all sources during the current year to exceed $200,000 or the joint income of you and your spouse (if married) from all sources during the current year to exceed $300,000; 

 ̈ an individual whose net worth as of the date you purchase the securities offered, together
with the net worth of your spouse, be in excess of $1,000,000; or 
  ̈ an entity in which
all of the equity owners are accredited investors. 
  

	3.	BUSINESS, INVESTMENT, AND EDUCATIONAL EXPERIENCE 

  

			
	Occupation:	 	  

			
	Number of Years:	 	  

			
	Present Employer:	 	  

			
	Position/Title:	 	  

			
	Educational Background:	 	  

 Frequency of prior investment (check one in each appropriate column): 

 

					
	  	  	Stocks & Bonds	  	Venture Capital Investments
	Frequently	  	 	  	 
	Occasionally	  	 	  	 
	Never	  	 	  	 

  

	4.	SIGNATURE: 

 The above information is true and correct of my own knowledge. The undersigned
recognizes that the Company and its counsel are relying on the truth and accuracy of such information in reliance on the exemption contained in Subsection 4(2) of the Securities Act of 1933, as amended, and Regulation D promulgated
thereunder. The undersigned agrees to notify the Company promptly of any changes in the foregoing information which may occur prior to Closing. 

Executed at                     , State
of                     , on the          day of
                    , 2013. 
  

			
	  
	 	 
	(Signature),                      (Title if for Entity)	 	

  
 11EX-10.1

 Exhibit 10.1 

FIFTH AMENDMENT AGREEMENT 

THIS FIFTH AMENDMENT AGREEMENT, effective as of June 30, 2013 (this “Agreement”) is between Tower Group, Inc., a
Delaware corporation (the “Borrower”), Tower Group International, Ltd. (the “Guarantor”), each lender party hereto (collectively, the “Lenders” and individually, a “Lender”), and Bank of
America, N.A., as Administrative Agent, Fronting Bank and L/C Administrator (“Bank of America”). 
 WHEREAS, the Borrower,
the Lenders and Bank of America are parties to the Amended and Restated Credit Agreement, dated as of February 15, 2012, as amended by the First Amendment to Credit Agreement, dated as of June 22, 2012, as amended by the Second Amendment
to Credit Agreement and Consent, dated November 26, 2012, as amended by the Letter Agreement, dated as of January 23, 2013, as amended by the Limited Waiver and Amendment, dated as of March 3, 2013, and as amended by the Fourth
Amendment Agreement and Waiver, dated as of April 3, 2013 (as so amended, the “Credit Agreement”). Terms defined in the Credit Agreement are, unless otherwise defined herein or the context otherwise requires, used herein as
defined therein. 
 WHEREAS, the parties hereto wish to amend the Credit Agreement as set forth herein. 

NOW, THEREFORE, in consideration of the premises and for other good and valuable consideration (the receipt and sufficiency of which are
hereby acknowledged), the parties hereto agree as follows: 
 1. AMENDMENTS TO CREDIT AGREEMENT. The Credit Agreement is hereby
amended as follows: 
 (a) Section 1.01 is amended by amending the definition of “Applicable Rate” in its
entirety to read as follows: 
 “Applicable Rate” means, from time to time, the following percentages per annum, as set
forth below: 
  

									
	 Period
	  	Applicable Margin for
Eurodollar Rate Loans	 	 	Applicable Margin for Base Rate
Loans	 
	 August 29, 2013 through October 31, 2013
	  	 	3.000	% 	 	 	2.000	% 
	 November 1, 2013 through November 30, 2013
	  	 	4.000	% 	 	 	3.000	% 
	 December 1, 2013 through December 31, 2013
	  	 	5.000	% 	 	 	4.000	% 
	 January 1, 2014 through the January 31, 2014
	  	 	6.000	% 	 	 	5.000	% 
	 February 1, 2014 and thereafter
	  	 	7.000	% 	 	 	6.000	% 

 The Applicable Rate for the commitment fee for the period of August 29, 2013 through the
date the conditions to effectiveness under Section 5 of the Fifth Amendment are met shall be 0.500%. 
 (b)
Section 1.01 is amended by amending the definition of “Eurodollar Rate” in its entirety to read as follows: 

“Eurodollar Rate” means: 

(a) for any Interest Period with respect to a Eurodollar Rate Loan, the rate per annum equal to the London Interbank Offered
Rate (“LIBOR”) or a comparable or successor rate, which rate is approved by the Administrative Agent, as published on the applicable Reuters screen page (or such other commercially available source providing such quotations as may be
designated by the Administrative Agent from time to time) at approximately 11:00 a.m., London time, two Business 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; and 
 (b) for any interest calculation with respect to a Base Rate Loan on any
date, the rate per annum equal to LIBOR, at or about 11:00 a.m., London time determined two Business Days prior to such date for U.S. Dollar deposits with a term of one month commencing that day; 

provided that to the extent a comparable or successor rate is approved by the Administrative Agent in connection herewith, the
approved rate shall be applied in a manner consistent with market practice; provided, further that to the extent such market practice is not administratively feasible for the Administrative Agent, such approved rate shall be applied in a manner as
otherwise reasonably determined by the Administrative Agent. 
 (c) Section 1.01 is amended by amending the definition
of “Guaranty” in its entirety to read as follows: 
 “Guaranty” means each of (i) the Guaranty delivered
pursuant to the Second Amendment Agreement, executed by CHBL in favor of the Administrative Agent and the Lenders and (ii) each guaranty delivered pursuant to the Fifth Amendment. 

(d) Section 1.01 is amended by amending the definition of “Interest Period” by deleting the phrase “one,
two or three months thereafter” and inserting “one month thereafter” therefor. 

  
 2 

 (e) Section 1.01 is amended by amending the definition of “Loan
Document” in its entirety to read as follows: 
 “Loan Documents” means this Agreement, each Note, each Guaranty, each
Issuer Document, any agreement creating or perfecting rights in Cash Collateral pursuant to the provisions of Section 2.14 of this Agreement, the Fee Letters and each Pledge Agreement and any documents delivered in connection
therewith.” 
 (f) Section 1.01 is amended by amending the definition of “Maturity Date” by deleting the
date “February 15, 2016” and inserting “May 30, 2014” therefor. 
 (g) Section 1.01 is amended by
amending the definition of “Statutory Surplus” in its entirety to read as follows: 
 “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; it being agreed that with respect to any Insurance
Subsidiary that only files an Annual Statement, Statutory Surplus shall be calculated on a quarterly basis in the same manner as Statutory Surplus is calculated in such Insurance Subsidiary’s Annual Statements. 

(h) Section 1.01 is amended by adding the following terms in proper alphabetical order: 

“Fifth Amendment” means the Fifth Amendment Agreement effective as of June 30, 2013. 

“Enhanced Capital Requirement” means the minimum capital and surplus level for an Insurance Subsidiary domiciled in Bermuda
calculated pursuant to the requirements of the Bermuda Monetary Authority. 
 “Loan Party” means the Borrower, the
Guarantor and each Subsidiary who executes a Guaranty. 
 “Net Cash Proceeds” means: 

(a) with respect to the sale of any asset by any Loan Party, the excess, if any, of (i) the sum of cash and cash equivalents received in
connection with such sale (including any cash received by way of deferred payment pursuant to, or by monetization of, a note receivable or otherwise, but only as and when so received) over (ii) the sum of (A) the principal amount of any
Indebtedness that is secured by such asset and that is required to be repaid in connection with the sale thereof (other than Indebtedness under the Loan Documents) and (B) the out-of-pocket expenses incurred by such Loan Party in connection
with such sale; 

  
 3 

 (b) with respect to the sale and issuance of any Equity Interests of the Guarantor or any of its
Subsidiaries (other than to the Guarantor or any of its Wholly-Owned Subsidiaries), the excess of (i) the sum of the cash and cash equivalents received in connection with such issuance of Equity Interests over (ii) the underwriting
discounts and commissions, and other out-of-pocket expenses, incurred by the Guarantor or such Subsidiary in connection with the issuance of such Equity Interests; 

(c) with respect to any issuance of Indebtedness by any Loan Party, the excess of (i) the sum of the principal amount of such
Indebtedness over (ii) the original discount, fees and other out-of-pocket expenses, incurred by such Loan Party in connection with the issuance of such Indebtedness; and 

(d) with respect to any dividend, distribution or return of capital received by a Loan Party from a Subsidiary, without duplication, 100% of
such amount. 
 “Pledge Agreement” means each pledge agreement in form satisfactory to the Administrative Agent whereby the
Guarantor or any of its Subsidiaries grants a security interest in favor of the Administrative Agent to secure the Obligations. 

(i) Section 1.05 is amended by inserting the following at the end thereof: 

The Administrative Agent does not warrant, nor accept responsibility, nor shall the Administrative Agent have any liability with respect to
the administration, submission or any other matter related to the rates in the definition of “Eurodollar Rate” or with respect to any comparable or successor rate thereto. 

(j) Section 2.04 is amended by inserting the following new paragraph (c) at the end thereof: 

(c) On the date any Net Cash Proceeds are received by the Guarantor or any of its Subsidiaries, the Borrower shall prepay the Loans in an
amount equal to such Net Cash Proceeds. 
 (k) Section 2.05 is amended by inserting the following at the end thereof:

 On the date any payment of principal on the Loans is made, the Aggregate Commitments shall automatically be reduced Dollar for Dollar by
the amount of such principal payment regardless of whether such principal payment is voluntary or mandatory. 

  
 4 

 (l) Section 3.03 is amended in its entirety to read as follows: 

3.03 Inability to Determine Rates. If in connection with any request for a Eurodollar Rate Loan or a conversion to or continuation
thereof, (a) the Administrative Agent determines that (i) Dollar deposits are not being offered to banks in the London interbank market for the applicable amount and Interest Period of such Eurodollar Rate Loan, or (ii) 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 (in each case with respect to clause
(a) (i) above, “Impacted Loans”), or (b) the Administrative Agent or the Required Lenders determine that for any reason 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 Eurodollar Rate 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, (to the extent of the affected Eurodollar Rate Loans or Interest Periods), 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 (to the extent of the affected Eurodollar Rate Loans or Interest Periods) or, failing that, will be deemed to have
converted such request into a request for a Committed Borrowing of Base Rate Loans in the amount specified therein. 
 Notwithstanding the
foregoing, if the Administrative Agent has made the determination described in clause (a) (i) of this section, the Administrative Agent, in consultation with the Borrower and the affected Lenders, may establish an alternative interest rate
for the Impacted Loans, in which case, such alternative rate of interest shall apply with respect to the Impacted Loans until (1) the Administrative Agent revokes the notice delivered with respect to the Impacted Loans under clause (a) of
the first sentence of this section, (2) the Administrative Agent or the Required Lenders notify the Administrative Agent and the Borrower that such alternative interest rate does not adequately and fairly reflect the cost to such Lenders of
funding the Impacted Loans, or (3) any Lender determines that any Law has made it unlawful, or that any Governmental Authority has asserted that it is unlawful, for such Lender or its applicable Lending Office to make, maintain or fund Loans
whose interest is determined by reference to such alternative 

  
 5 

 
rate of interest or to determine or charge interest rates based upon such rate or any Governmental Authority has imposed material restrictions on the authority of such Lender to do any of the
foregoing and provides the Administrative Agent and the Borrower written notice thereof. 
 (m) Section 6.02 is amended
by (i) deleting the word “and” at the end of clause (h), (ii) deleting the period at the end of clause (i) and inserting “; and” therefor and adding the following new clause (j) at the end thereof: 

(j) within 5 Business Days after the end of each month, a monthly holding company cash flow projection for the Guarantor for the next twelve
months in form satisfactory to the Administrative Agent. 
 (n) Section 7.01(m) is amended by replacing
“$35,000,000” with “15,000,000”. 
 (o) Section 7.02(e) is amended in its entirety to read as
follows: 
 (e) unsecured Indebtedness of (i) any Subsidiary other than a Loan Party in an aggregate principal amount not to exceed
$15,000,000 at any time outstanding and (ii) any Loan Party. 
 (p) Section 7.03(e) is amended in its entirety to
read as follows: 
 (e) [Intentionally Omitted] 

(q) Section 7.05(d) is amended in its entirety to read as follows: 

(d) [Intentionally Omitted] 

(r) Section 7.08 is amended in its entirety to read as follows: 

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 Guarantor or the Borrower, to make loans, or to otherwise transfer property to the Guarantor or any other Subsidiary, (ii) of any Subsidiary to Guarantee
or grant Liens to secure Indebtedness of the Borrower or the Guarantor or (iii) of the Borrower or the Guarantor 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; (c) would be breached by compliance with the provisions of the Loan Documents; or (d) with respect to Contractual Obligations for any
Indebtedness, has financial covenants or rating requirements that are not included in this Agreement or are more favorable to the lenders under such Contractual Obligations  

  
 6 

 
than the financial covenants and rating requirements set forth in this Agreement; 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 Guarantor or any of its Subsidiaries,
(D) customary provisions restricting assignment in any licensing agreement (in which the Guarantor or any of its Subsidiaries is the licensee) entered into by the Guarantor 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 Guarantor and its Subsidiaries. 

(s) Section 7.10(a) is amended in its entirety to read as follows: 

(a) Consolidated Net Worth of the Guarantor. Permit Consolidated Net Worth of the Guarantor at any time to be less than
the sum of (i) the greater of $553,400,000 and 90% of Consolidated Net Worth as of June 30, 2013, (ii) an amount equal to 50% of the Consolidated Net Income earned (excluding the first $20,000,000 of Consolidated Net Income earned
after June 30, 2013) in each full fiscal quarter after June 30, 2013 (with no deduction for a net loss in any such fiscal quarter), (iii) an amount equal to 90% of the aggregate gross increases in Consolidated Net Worth of the
Guarantor and its Subsidiaries after June 30, 2013 by reason of the sale and issuance of Equity Interests by the Guarantor or any Subsidiary (other than issuance to the Guarantor or a Wholly-Owned Subsidiary), including upon any conversion of
(A) Convertible Securities of the Guarantor or (B) debt securities of the Guarantor (including Convertible Securities) into, and the exercise of any warrants issued by the Guarantor or the Borrower with respect to, Equity Interests of the
Guarantor. 
 Section 7.10(b) is amended in its entirety to read as follows: 

(b) [Intentionally Omitted.] 

(t) Section 7.10(c) is amended in its entirety to read as follows: 

(c) Debt to Capitalization Ratio. Permit the Debt to Capitalization Ratio of the Guarantor as of (i) June 30,
2013 and thereafter, to be greater than 46%. 

  
 7 

 Section 7.10(d) is amended in its entirety to read as follows: 

(d) Minimum Risk-Based Capital and Enhanced Capital Requirement. Permit (i) the Risk Based Capital Ratio of any
Material Insurance Subsidiary domiciled in the United States to be less than 175% as of the end of any fiscal year, (ii) the Statutory Surplus of any Material Insurance Subsidiary domiciled in Bermuda (other than Tower Reinsurance, Ltd.) to be
less than 150% of such Material Insurance Subsidiary’s Enhanced Capital Requirement as of the end of any fiscal year, and (iii) the Statutory Surplus of Tower Reinsurance, Ltd. to be less than (x) 110% of Tower Reinsurance Ltd.’s
Enhanced Capital Requirement as of the end of the fiscal year ended December 31, 2013 and (y) 150% of Tower Reinsurance Ltd.’s Enhanced Capital Requirement as of the end of any fiscal year thereafter. In the event any Insurance
Subsidiary ceases to be a Material Insurance Subsidiary as of the end of any fiscal quarter, such Insurance Subsidiary must comply with the requirements set forth in this Section 7.10(d) as of the end of the fiscal year in which such
Insurance Subsidiary ceased to be a Material Insurance Subsidiary. 
 (u) Section 7.10(e) is amended in its entirety to
read as follows: 
 (e) Minimum Statutory Surplus. At any time permit the consolidated Statutory Surplus, without
duplication, of the Insurance Subsidiaries of the Guarantor to be less than the sum of (i) the greater of $419,000,000 and 85% of consolidated Statutory Surplus, without duplication, of the Insurance Subsidiaries of the Guarantor as of
June 30, 2013 and (ii) 85% of the amount of capital contributions to the Insurance Subsidiaries of the Guarantor during each full fiscal quarter ending after June 30, 2013 (excluding any capital contributions made to an Insurance
Subsidiary solely with distributions received from another Insurance Subsidiary in connection with the transfer of Statutory Surplus between such Insurance Subsidiaries). 

(v) Article VII of the Credit Agreement is amended by inserting the following new Sections 7.12, 7.13 and 7.14 at the end
thereof: 
 7.12 Convertible Securities. 

(a) In the event that a holder of the Existing Convertible Securities exercises its conversion right thereunder, make such
payment in anything other than common stock of the Guarantor. 
 (b) Use any proceeds of the Loans to pay any principal on
the Convertible Securities. 
 7.13 Outstandings. Permit the Total Outstandings on February 15, 2014 to be greater than $0. 

  
 8 

 7.14 Additional Deliverables. Fail to deliver on or before
October 31, 2013 or such later date as may be acceptable to the Administrative Agent in its sole discretion, (i) such certificates of resolutions or other action, incumbency certificates and/or other certificates of Responsible Officers of
each Person executing a Guaranty or Pledge Agreement pursuant to the Fifth Amendment 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 such Loan Document(s); (ii) such documents and certifications as the Administrative Agent may reasonably require to evidence that each such Person is duly organized or formed and (iii) favorable opinions of
counsel to each such Person reasonably satisfactory to the Administrative Agent addressed to the Administrative Agent and each Lender, as to such matters concerning such Person and such Loan Documents as the Administrative Agent may reasonably
request. 
 (w) Section 8.01(j) is amended by inserting the following at the end thereof: “or any Lien granted
pursuant to any Loan Document ceases to be a first priority perfected Lien”. 
 (x) Section 8.01 by
(i) deleting the word “and” at the end of clause (l), (ii) deleting the period at the end of clause (m) and inserting “; and” therefor and adding the following new clause (n) at the end thereof: 

(n) Further Assurances. (i) On or before November 15, 2013, the Borrower has not delivered to the Lenders (a) a binding
purchase agreement on standard market terms providing for the sale of assets by a Loan Party on terms which will result in Net Cash Proceeds equal to or in excess of the Total Outstandings as of such date, (b) a binding commitment on standard
market terms for Indebtedness or sale of Equity Interests by a Loan Party which will result in Net Cash Proceeds equal to or in excess of the Total Outstandings as of such date, or (c) evidence that the Borrower has taken all necessary action
to submit to each Applicable Insurance Regulatory Authority a request for approval to pledge all of the Equity Interests in any Subsidiary directly owned by each Loan Party as of the date such Loan Party executed its Guaranty or (ii) at any
time after November 15, 2013, (x) if the Borrower has requested the approvals referred to in clause (i)(c), (A) the Borrower ceases to pursue or withdraws a request for any such approval, (B) the Borrower receives notice that any
approval requested in connection with clause (i)(c) has been denied and the Borrower fails to maintain in full force and effect an agreement meeting the requirements of clause (i)(a) or (b) or (C) within two (2) Business Days after
receipt of all such necessary approvals the Borrower fails to deliver an executed Pledge Agreement covering the Equity Interests described in (i)(c) regardless of whether the Borrower has delivered an agreement meeting the conditions of clause
(i)(a) or (b) or 

  
 9 

 
(y) the Borrower fails to maintain in full force and effect any agreement delivered pursuant to clause (i) (a) or (b) unless replaced with the Pledge Agreement. 

(v) Article IX of the Credit Agreement is amended by inserting the following new Section 9.10 at the end thereof: 

9.10 Collateral and Guaranty Matters. Without limiting the provisions of Section 9.09, the Lenders, the Fronting Bank and
the LC Administrator irrevocably authorize the Administrative Agent, at its option and in its discretion, 
 (a) to release any Lien
on any property granted to or held by the Administrative Agent under any Loan Document (i) upon termination of the Aggregate Commitments and payment in full of all Obligations (other than contingent indemnification obligations) and the
expiration or termination of all Letters of Credit, (ii) that is sold or otherwise disposed of or to be sold or otherwise disposed of as part of or in connection with any sale or other disposition permitted hereunder or under any other Loan
Document, or (iii) if approved, authorized or ratified in writing by the Required Lenders; and 
 (b) to release any Person from its
obligations under a Guaranty (i) if such Person ceases to be a Subsidiary as a result of a transaction permitted under the Loan Documents or (ii) if approved, authorized or ratified in writing by (x) in the case of the Guarantor, all
of the Lenders, or (y) in the case of any other Person party to a Guaranty, the Required Lenders. 
 Upon request by the Administrative
Agent at any time, the Required Lenders or Lenders, as applicable, will confirm in writing the Administrative Agent’s authority to release its Lien, or to release any Guarantor from its obligations under the Guaranty pursuant to this
Section 9.10. 
 2. Amendment to Schedule 2.01. Effective as of the first Business Day after the date the conditions to
effectiveness in Section 5 have been met, Schedule 2.01 is replaced with Schedule 2.01 hereto. 
 3. CONSENT. The Lenders hereby
agree to (i) to extend the date by which the June 2013 Financial Statements and the related Compliance Certificate must be delivered to the Administrative Agent and the Lenders to October 31, 2013 and (ii) the payment of a dividend on
the common stock of the Guarantor which dividend was declared on August 6, 2013 and is to be paid on September 20, 2013. 
 4.
REAFFIRMATION. All provisions of the Credit Agreement and the other Loan Documents shall continue in full force and effect in accordance with the provisions thereof, and the Borrower reaffirms all its agreements under the Credit Agreement and
the Loan Documents and the Guarantor reaffirms its obligations under the Guaranty, in each case , notwithstanding the occurrence of any Defaults. 

  
 10 

 5. CONDITIONS TO EFFECTIVENESS. This Agreement will be effective once (a) this
Agreement shall have been executed and delivered by the Borrower and the Guarantor, the Administrative Agent, and the Required Lenders, (b) the Administrative Agent shall have received (i) a Pledge Agreement whereby the Guarantor pledges
the Equity Interests of Tower Reinsurance Ltd. executed by each of the parties thereto and (ii) a guaranty substantially in the form of Annex A executed by the each party shown on Annex A as being a guarantor, (c) the Borrower shall have
paid any other fees and expenses then due and owing under the Loan Documents (including any legal fees and expenses) and (d) the Administrative Agent shall have received a secretary’s certificate for each of the Borrower and the Guarantor
certifying as to and attaching resolutions authorizing this Agreement, the organizational documents of the Borrower or the Guarantor, as applicable, and an incumbency certification unless waived by the Administrative Agent. 

6. REPRESENTATIONS AND WARRANTIES. To induce the Lenders and the Administrative Agent to enter into this Agreement, each of the
Borrower and the Guarantor represents and warrants to the Administrative Agent and each Lender as follows: 
 6.1 Due Authorization,
Non-Contravention, etc. The execution, delivery and performance of this Agreement by such Peron are within its powers, have been duly authorized by all necessary action, and do not: 

(a) contravene its Organization Documents; 

(b) contravene any contractual restriction, law or governmental regulation or court decree or order binding on or affecting
such Person or any of its Subsidiaries; or 
 (c) result in, or require the creation or imposition of, any Lien on any of the
properties of such Person or any of its Subsidiaries except pursuant to the Pledge Agreement. 
 6.2 Credit Agreement Representations and
Warranties. After giving effect to this Agreement, the representations and warranties set forth in Article V of the Credit Agreement are true and correct with the same effect as if made as of the date hereof (unless stated to relate solely
to an earlier date, in which case such representations and warranties shall be true and correct as of such earlier date); provided that with respect to the representation and warranty set forth in Section 5.06 of the Credit Agreement, we
advise you that the shareholder lawsuits that have been filed or have been threatened to be filed could, if all are filed and determined adversely, have a Material Adverse Effect. 

6.3 Validity, etc. This Agreement constitutes the legal, valid and binding obligation of such Person enforceable against such Person in
accordance with its terms. 
 7. RELEASE AND ACKNOWLEDGEMENT. 

7.1 Release and Covenant Not to Sue. In consideration of the agreements and understandings set forth in this Agreement, the
Borrower and the Guarantor, jointly and severally, and for such party’s Related Parties, its successors and assigns and the Related Parties thereof (each, a “Covered Person”), hereby knowingly and voluntarily, unconditionally

  
 11 

 
and irrevocably, absolutely, finally and forever release, acquit and discharge the Administrative Agent, the LC Administrative Agent, the Fronting Bank and each Lender (each, a “Lender
Party”) from any Claim relating in any manner whatsoever to any of the Loan Documents and/or the Borrower’s or the Guarantor’s credit relationship with the Lender Parties that may have existed at any time on or prior to the date
the conditions to effectiveness in Section 5 have been met, including any that relates or may relate in any manner whatsoever to any facts, known or unknown, in existence on or at any time prior to the date the conditions to effectiveness in
Section 5 have been met (“Borrower-Related Claim”). The Borrower and the Guarantor hereby knowingly and voluntarily, unconditionally and irrevocably, absolutely, finally and forever covenant that they will refrain, and
further will direct any Covered Person to refrain, from commencing or otherwise prosecuting any action, suit or other proceeding, in law or in equity, against each Lender Party on account of any Borrower-Related Claim. Each Lender Party shall
be entitled to enforce this covenant through specific performance. In addition to the other liability which shall accrue upon the breach of this covenant, the breaching party (including any successor or assign of the Borrower or the Guarantor)
who or that commences or prosecutes any such action, suit or other proceeding) shall be liable to such Lender Party for all reasonable attorneys’ fees and costs incurred by such party in the defense of such action or suit. For purposes of this
Agreement, “Claims” means, with respect to any Covered Party, all claims, counterclaims, actions, causes of action (including any relating in any manner to any existing or future litigation (including the Litigation) or
investigation), suits, obligations, controversies, defenses, debts, liens, contracts, agreements, covenants, promises, liabilities, damages, penalties, demands, threats, compensation, losses, costs, judgments, orders, interest, fees or expense
(including attorneys’ fees and expenses) or other similar items of any kind, type, nature, character or description, whether in law, equity or otherwise, whether now known or unknown, whether in contract or in tort, whether choate or inchoate,
whether contingent or vested, whether liquidated or unliquidated, whether fixed or unfixed, whether matured or unmatured, whether suspected or unsuspected, and whether or not concealed, sealed or hidden, of such Covered Party or that may be asserted
by such Covered Party, through such Covered Party or otherwise on the behalf of such Covered Party (including those which may be asserted on any derivative basis). 

7.2 Acknowledgement of Indebtedness. Each of the Borrower and the Guarantor acknowledges that the Total Outstandings as of
October 11, 2013 are $70,000,000 together with interest (which continues to accrue) and commitment fees (which will accrue through the date the conditions to effectiveness in Section 5 have been met). Without in any manner limiting the
generality of the release set forth in Section 7.1 or of the other provisions of the Loan Documents, each of the Borrower and the Guarantor represents, warrants, covenants and agrees that there exist no offsets, counterclaims or defenses
to payment or performance of the obligations set forth in the Loan Documents and, in consideration hereof, expressly waives any and all such offsets, counterclaims and defenses arising out of any alleged acts, transactions or omissions on the part
of the Lender Parties arising (or otherwise relating to the period) on or prior to the date the conditions to effectiveness in Section 5 have been met. 

8. MISCELLANEOUS. 
 8.1
Limited Waiver; Continuing Effectiveness, etc. This Agreement shall be strictly limited to its terms. In this Agreement, the Lenders waive no Default or Event of 

  
 12 

 
Default, whether presently or subsequently existing. This Agreement shall be deemed to be an amendment to the Credit Agreement, and the Credit Agreement, as amended hereby, shall remain in full
force and effect and is hereby ratified, approved and confirmed in each and every respect. After the amendments set forth herein have become effective, all references to the Credit Agreement in the Loan Documents or in any other document,
instrument, agreement or writing shall be deemed to refer to the Credit Agreement as amended hereby. Each other Loan Document is hereby ratified, approved and confirmed in each and every respect. 

8.2 Payment of Costs and Expenses. The Borrower agrees to pay on demand (i) all reasonable expenses of the Administrative Agent
(including the reasonable fees and out-of-pocket expenses of counsel to the Administrative Agent) in connection with the negotiation, preparation, execution and delivery of this Agreement and the transactions contemplated hereby and (ii) all
out-of-pocket fees and expenses of the Lenders in accordance with Section 10.04 of the Credit Agreement. 
 8.3 Severability.
Any provision of this Agreement which is prohibited or unenforceable in any jurisdiction shall, as to such provision and such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining
provisions of this Agreement or affecting the validity or enforceability of such provision in any other jurisdiction. 
 8.4
Headings. The various headings of this Agreement are inserted for convenience only and shall not affect the meaning or interpretation of this Agreement or any provisions hereof. 

8.5 Execution in Counterparts; Integration. This Agreement may be executed by the parties hereto in several counterparts, each of which
shall be deemed to be an original and all of which shall constitute together but one and the same agreement. Delivery of an executed counterpart hereof, or signature page hereto, to the Administrative Agent by facsimile or in a .pdf or similar file
shall be effective as delivery of a manually-executed counterpart hereof. This Agreement constitutes 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. 
 8.6 Governing Law. THIS AGREEMENT SHALL BE DEEMED TO BE A CONTRACT MADE UNDER
AND GOVERNED BY THE INTERNAL LAWS OF THE STATE OF NEW YORK. 
 8.7 Successors and Assigns. This Agreement shall be binding upon and
shall inure to the benefit of the parties hereto and their respective successors and assigns. 
 [Signature Pages Follow] 

  
 13 

 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:	 	 EVP & CFO

		
	By:	 	 /s/ Vito A. Nigro

	Name:	 	 Vito A. Nigro

	Title:	 	 Managing VP and Treasurer

	
	TOWER GROUP INTERNATIONAL, LTD.
		
	By:	 	 /s/ William E. Hitselberger

	Name:	 	 William E. Hitselberger

	Title:	 	 EVP & CFO

		
	By:	 	 /s/ Vito A. Nigro

	Name:	 	 Vito A. Nigro

	Title:	 	 Managing VP and Treasurer

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

Bank and Lender

		
	By:	 	 /s/ Jason Cassity

	Name:	 	Jason Cassity
	Title:	 	Director

			
	JPMORGAN CHASE BANK, N.A.
		
	By:	 	 /s/ Hector J. Varona

	Name:	 	 Hector J. Varona

	Title:	 	 Vice President

			
	KEYBANK NATIONAL ASSOCIATION
		
	By:	 	 /s/ James Cribbet

	Name:	 	 James Cribbet

	Title:	 	 Senior Vice President

			
	PNC BANK, NATIONAL ASSOCIATION
		
	By:	 	  

	Name:	 	  

	Title:	 	  

			
	WELLS FARGO BANK, N.A.
		
	By:	 	 /s/ Michelle S. Dagenhart

	Name:	 	 Michelle S. Dagenhart

	Title:	 	 VP – Portfolio Manager

			
	THE NORTHERN TRUST COMPANY
		
	By:	 	 /s/ Olga Georgiev

	Name:	 	 Olga Georgiev

	Title:	 	 Senior Vice President

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00222-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00222-of-00352.parquet"}]]