Document:

Propane Sales Contract

 Exhibit 10.1 
 Execution Copy 
 PROPANE SALES CONTRACT 
 This Propane Sales Contract (this “Contract”) is entered into effective May 1, 2008 between Spectra Energy Propane LLC (“Seller”)
and Gas Supply Resources LLC (“Buyer”). (Seller and Buyer being referred to collectively as the “Parties” and individually, as a “Party”) 
 CONTRACT REF. NO.: 1 
  

	2.	SELLER 

 Spectra Energy Propane LLC 
 5400 Wecthcimer Court 
 Houston TX, USA 77056 
 Attention: William S. Garner 
  

	3.	BUYER 

 Gas Supply Resources LLC 
 5817 Westheimer, Suite 2000 
 Houston, TX 77057 
 Attention: Richard M. Paul, Jr. 
  

	4.	TERM 

 The term of this Contract shall run during the period from
May 1, 2008 to April 30, 2014, The Term shall he divided into contract years (each, a “Contract Year”) commencing on May 1 and ending, on the next succeeding April 30. 
  

	5.	ASSIGNMENT 

 This Contract shall extend to and be binding upon the
successors and assigns of the Parties, but neither this Contract nor any part, specifically including the right to receive payment, shall be assigned or transferred by either Party or by law without the prior written consent of the other Party which
shall not be unreasonably withheld, and any assignment or transfer made by either Party without the other Party’s written consent need not be recognized by and shall not be binding upon the other Party. 

	6.	GRADE AND QUALITY 

 Fully Refrigerated Propane (herein, the
“Product”). 
  

	7.	SPECIFICATIONS 

 All Product delivered to Buyer shall comply with
GPA 2140-HD5 specifications as published by the National Gas Processors Association (NGPA) and in effect on the date that Product is unloaded into the Teppco Tidewater propane terminal located in the Port of Providence, Providence, Rhode Island (the
“Delivery Point”). Ethane content shall be less than 2%. Acceptance by Buyer of Product delivered under this Contract shall constitute a waiver of any claim against Seller based on the failure of the Product to meet such specifications.

  

	8.	QUANTITY 

 The maximum annual quantity of Product to be delivered
and received during any Contract Year the Term is 225,000 Metric Tons plus 5% Buyer’s operational tolerance, and the minimum annual quantity of Product to be delivered and received during any Contract Year during the Term is 190,000 Metric Tons
less 5% Buyer’s operational tolerance. By March 31 of each year, the parties may mutually agree in writing to increase or decrease the maximum or minimum annual quantities. The annual quantity for each Contract Year shall be nominated as
provided in Section 9. 
  

	9.	NOMINATIONS AND DELIVERY 

 The quantity of Product to be delivered
by Seller and purchased by Buyer in each Contract Year shall, subject to the maximum and minimum annual quantities, be nominated by Buyer on or before the April 15 immediately preceding such Contract Year; provided, however, that the quantity
of Product for the first Contract Year shall be nominated at the same time as this Contract is executed. At the same time as Buyer provides Seller with its nomination for a Contract Year, Buyer shall provide Seller with a report (a “Delivery
Schedule”) that estimates the quantity of Product that it will require to be delivered during each Delivery Period in such Contract Year. Each Delivery Schedule shall be in the form and contain the information set out in Schedule 9 (which
shall constitute the Delivery Schedule for this Contract Year commencing May 1, 2008) and shall be used solely for purposes of calculating the Final Price pursuant to Section 16. 
 On or before the 10th day of each month in each Contract Year, Buyer shall provide Seller with (i) its nomination of the quantity of Product it will require in the month that is two months after the month in which the nomination is being made (provided,
however, that nominations for May, June, and July, 2008 shall be made upon signing this Contract), and (ii) one or more five day delivery 

  

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windows and the estimated ullage at the beginning of each such delivery window. The nominations for each month shall form the basis for Seller’s
delivery obligations for such month. The aggregate quantity nominated for the months of October, November, December, January, February and March of any Contract Year shall not exceed 300% of the aggregate quantity nominated for the months of April,
May, June, July, August and September of such Contract Year. Buyer’s nomination for any month shall not be more than 10% higher or lower than the aggregate quantities for such month set out in the Delivery Schedule; provided; however, Buyer
shall not be obligated to nominate more than the ullage of its tanks. 
 Seller agrees to make deliveries each month in quantities sufficient to allow Buyer
to drawdown from its tanks the quantity nominated for such month. Provided that Seller always complies with Buyer’s requirements as set out in the proceeding sentence, and subject to the availability of berthage, Seller may schedule deliveries
when elected by Seller. Buyer shall provide Seller with tank readings on Monday of each week. 
  

	10.	QUANTITY AND QUALITY MEASUREMENT 

 Quality shall be determined or
witnessed by an international independent inspector chosen by Seller (in accordance with standard practice at the time of delivery) at the discharge port. Quantity shall be determined at the time of delivery per shore measurements, as determined or
witnessed by a mutually agreed international independent inspector (in accordance with standard practice at the time of delivery) at the discharge port. The inspectors’ reports of quality and quantity shall, save fraud or manifest error, be
binding on both parties. All inspection costs at the discharge port shall be for Buyer’s account. 
  

	11.	QUANTITY AND QUALITY CLAIMS TIME BAR 

 Seller shall in no event be
liable for any quantity or quality claim unless the claim has been submitted to Seller in writing with all supporting documentation, within 60 days of the completion of discharge. 
  

	12.	TERMS OF DELIVERY 

 Delivered Ex-Ship one safe berth at the Delivery
Point. Buyer is the importer of record and responsible for importation. 
  

	13.	AUTOMATED MANIFEST SYSTEM 

  

	 	(a)	Where the discharge port is located within the USA or US Territories. Seller shall advise the vessel of the requirements of the U.S Bureau of Customs and Border Protection ruling
issued on December 5th 2003 under Federal Register Part II Department of Homeland Security 19 CFR Parts 4. 103, and will comply fully with these requirements for entering U.S ports (including far avoidance of doubt, the requirements of
the “Automated Manifest System”). 

  

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	 	(b)	If the discharge port is changed at Buyer’s request such that, despite Seller exercising all reasonable efforts pursuant to Clause (a), Seller’s nominated vessel is unable
to comply with the notification period required by the U.S Bureau of Customs and Border Protection ruling issued on December 5th 2003 under Federal Register Part II Department of Homeland Security 19 CFR Parts 4, 103 (including for avoidance of
doubt, the requirements of the “Automated Manifest System”): 

  

	 	(1)	any delay directly resulting from such non-compliance shall be for Buyer’s account; and 

  

	 	(2)	Seller shall not be liable for failure of performance directly resulting from such non- compliance. 

  

	14.	SELECTION OF VESSELS 

 The vessel shall be selected by Seller,
provided, however, that the vessel shall at ail times meet the requirements of this Contract and any additional requirements of the discharge port. 
  

	15.	ISMS Compliance 

  

	 	(a)	Seller shall assure that the vessel shall comply with the requirements of the International Code for the Security of Ships and of Port Facilities and the relevant amendments to
Chapter XI of SOLAS (“ISPS Code”) and where the discharge port is within the USA and US territories or waters, with the US Maritime Transportation Security Act 2002 (“MTSA”). 

  

	 	(h)	The vessel shall when required submit a Declaration of Security to the appropriate authorities prior to arrival at the discharge port. 

  

	 	(c)	If at any time prior to the arrival of the vessel at the discharge port, the vessel ceases to comply with the requirements of the ISPS Code or MTSA: 

  

	 	(1)	Buyer shall have the right not to berth such vessel at the discharge port and any demurrage resulting shall not be for the account of the Buyer. 

  

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	 	(2)	Seller shall be obliged to substitute for such vessel a vessel complying with the requirements of the ISPS Code and MTSA. 

  

	 	(d)	Buyer shall assure that the discharge port/terminal/installation shall comply with the requirements of the International Code for the Security of Ships and of Port Facilities and
the relevant amendments to Chapter XI of the ISPS Code, and if located within the USA and US territories, with the MTSA. 

  

	 	(e)	Any costs or expenses in respect of the vessel including demurrage or any additional charge, fee or duty levied on the vessel at the discharge port and actually incurred by the
Seller resulting directly from the failure of the discharge port/terminal/installation to comply with the ISPS Code (and if located within the USA and US territories, with the MTSA) shall, except under the circumstances outline in Section 21(c)
below, be for the account of the Buyer, including but not limited to the time required or costs incurred by the vessel in taking any action or any special or additional security measures required by the ISPS Code or MTSA 

  

	 	(f)	Save where the vessel has failed to comply with the requirements of the International Code for the Security of Ships and of Port Facilities and the relevant amendments to Chapter XI
the ISPS Code, and within the USA and US territories or waters, with the MTSA, the Buyer shall be responsible for any demurrage actually incurred by the Seller arising from delay to the vessel at the discharge port resulting directly from the vessel
being required by the port facility or any relevant authority to take any action or any special or additional security measures or undergo additional inspections, by virtue of the vessel’s previous ports of call. 

  

	 	(g)	The Buyer’s liability to the Seller under this Contract for any costs, losses or expenses incurred by the vessel, the charterers or the vessel owners resulting from the failure
of the discharge port/terminal/ installation to comply with the ISPS Code or MTSA shall be limited to the payment of demurrage and costs actually incurred by the vessel that Seller is obligated to pay in accordance with the provisions of this
clause. 

  

	16.	PRICE 

  

	 	(a)	 A provisional price for each cargo of Product (the “Provisional Price”) shall be calculated by Seller at the time of delivery of the cargo and
shall be equal to the quantity of Product in the cargo multiplied by the Provisional Propane Price determined in accordance with Section 16(d)(5). The Provisional Price for a cargo shall be paid within 30 days of the Bill 

  

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of Lading Date, it being agreed that if the thirtieth day following the day on which delivery commences is not a day on which banks are open in New York, New
York, (a “Banking Day”) such thirty day period shall end on the immediately preceding Banking Day. 

 In
addition to the Provisional Price, if Buyer requests that Seller deliver less than a Standard Shipload (as hereinafter defined), Buyer shall pay a fec of US$0.012 per US gallon for the full volume offloaded at the Delivery Point. No fee shall be
payable if a partial shipment is delivered at the direction or request of Seller. 
  

	 	(b)	Following payment of the Preliminary Price for a cargo, the final price (the “Final Price”) for the cargo shall be calculated as follows: 

 

	 	(1)	For purposes of calculating the Final Price of a cargo only, Buyer shall be treated as having taken delivery during each Delivery Period of the quantity of Product set out in the
then current Delivery Schedule. Such quantities shall be applied to cargos delivered on a first-in, first-out basis, and no quantities shall be treated as having been delivered from a cargo until all cargos with an earlier delivery date are treated
as having been fully delivered. 

  

	 	(2)	The Final Price for a cargo shall be calculated by Buyer within ten days after the cargo is treated as having been fully delivered by adding together for all Delivery Periods in
which Product from such cargo is treated as having been delivered, the product of (i) the quantity of Product treated as having been delivered from such cargo during such Delivery Period, multiplied by (ii) the Delivery Period Propane
Price for the Pricing Period which is associated with such Delivery Period, determined in accordance with Section 16(d)(3). 

  

	 	(3)	If the Final Price for a cargo is higher than the Provisional Price for such cargo, Buyer shall pay to Seller the additional amount due, and if the Final Price for a cargo is less
than the Provisional Price for such cargo, Seller shall refund the overpayment to Buyer, in each case, pursuant to Section 16(c). 

  

	 	(c)	 Buyer shall submit a written pricing notice to Seller calculating the difference between the Final Price and the Provisional Price for the quantity of Product
deemed to have been fully delivered during the Delivery Periods occurring in any month within ten days after the end of such month, and the net amount, if any, owed by Buyer to Seller, or by Seller to Buyer, 

  

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in respect of such cargo. Any such amounts shall be settled as an addition to or credit against the amount owed by Buyer to Seller on the next invoice
submitted by Seller hereunder, and if any such adjustment would reduce the amount of the invoice to less than zero, such amounts shall be carried over to subsequent invoices. If any such amounts are not fully recovered within 90 days from the end of
the month to which they relate, or if no further Product is expected to be delivered under this Contract, the Party entitled to the un-recovered amount shall have the right to demand that the other Party pay such amount within ten days.

  

	 	(d)	As used in this Contract: 

  

	 	(1)	The “Delivered Price” for any day during a Contract Year shall mean the arithmetic average of the mean of the high and the low price for the Mont Belvieu spot quotations
as reported in the OPIS LP Report for TET Propane Any Current Month plus the differential for such Contract Year set out in the table attached hereto as Exhibit “A”. The Delivered Price for a Sunday or a Monday on which the OPIS LP Report
is not published shall be equal to the Delivered Price for the next succeeding day for which the OPIS LP Report is published, and the Delivered Price for a Saturday or another day other than a Sunday or a Monday on which the OPIS LP Report is not
published shall be equal to the Delivered Price for the immediately preceding day on which the OPIS LP Report is published. 

  

	 	 (2)
	 The “Delivery Period” shall mean a period which either begins on the first day of a month and ends on the 15
th day of such month or begins on the 16th day
of a month and end on the last day of such month. Each Contract Year is divided into twenty-four Delivery Periods. 

  

	 	(3)	The “Delivery Period Propane Price” for any Delivery Period shall mean the arithmetic average of the Delivered Price for each day during the Pricing Period for such
Delivery Period. 

  

	 	 (4)
	 The “Pricing Period” with respect to each Delivery Period that begins on the first day of a month, shall mean
the period that begins on the 16th day of the immediately preceding month and ends on the last day of the immediately preceding month, and with
respect to each Delivery Period that begins on the 16th day of a month, shall mean the period that begins on the first day of such month and ends on
the 15th day of such month. 

  

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	 	(5)	The “Provisional Propane Price” for a cargo shall be the Delivered Price calculated for the day on which Seller commences unloading the Cargo at Buyer’s facility.

  

	17.	PAYMENT 

 Payment shall be made in U.S. Dollars by wire transfer, in
full without discount, withholding, setoff or counterclaim, in immediately available funds. 
  

	18.	PAST DUE PAYMENTS 

 If any amounts due hereunder remain outstanding
for more than five days past the due date thereof, such amounts shall be payable with interest at a rate equal to two percent (2%) above the JP Morgan Chase Bank, New York, N.Y. prime interest rate (or Citibank N.A. New York, New York prime
interest rate if JP Morgan Chase Bank interest rate is unknown) in effect on the due date for such payments. Under no circumstances shall this interest be construed as an agreement by Seller to provide extended credit. 
 18.1 SECURITY 
  

	 	A.	Affiliated Security Provisions. So long as Buyer and Seller shall be affiliates, the following security provisions of this Section 18.1 A. alone shall apply:

 Should Seller have reasonable grounds for insecurity with respect to the Buyer’s performance of this Contract, Seller
shall inform Buyer of such fact in writing and demand adequate assurance of due performance, and until Seller receives such assurance it may, if commercially reasonable, suspend performance for which Seller has not received payment or reciprocal
performance. The Parties agree that reasonableness of grounds for insecurity and the adequacy of any assurance offered shall be determined in accordance with applicable commercial standards. After its receipt of a justified written demand,
Buyer’s failure to provide (within a reasonable time not exceeding thirty days) such assurance of due performance as is adequate under the circumstances of the particular case is a repudiation of this Contract. 
  

	 	B.	 Non-Affiliated Security Provisions. Should Buyer and Seller cease to be affiliates during the term of this Contract, the following security provisions of
this Sections 18.1 B. shall apply in addition to the provisions of Section 18.1 A. For purposes of this provision, the Buyer and Seller would be deemed “non-affiliated” should there be a significant decline in 

  

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the level of Spectra Energy Corp direct or indirect ownership interest in DCP Midstream Partners, LP and related subsidiaries (i.e. either a change to less
than 50% interest by Spectra Energy Corp in DCP Midstream, LLC or if DCP Midstream, LLC no longer maintains control of the general partner interest in DCP Midstream Partners, LP): 

  

	 	(1)	In addition to the provisions of Section 18.1A, Seller may implement the following security provisions if Seller is no longer affiliated with Buyer: 

Seller shall establish a maximum open exposure (the “Credit Line”) for Buyer taking into consideration Buyer’s creditworthiness (or
Buyer’s guarantor, if applicable). If Buyer’s outstanding obligations hereunder exceed at any time the Credit Line extended to Buyer, Seller may request and Buyer at Buyer’s option shall within five Banking Days of such request,
either (i) establish an irrevocable stand-by letter of credit in a form and for an amount acceptable to Seller issued or confirmed by a first class bank acceptable to Seller, or (ii) prepay in immediately available funds on presentation of
Seller’s commercial invoice. 
  

	 	(2)	Failure by Buyer to provide the required security within five Banking Days of request therefore by Seller shall be considered a material breach of contract. Upon such breach, Seller
shall have the right upon written notice to Buyer to terminate this contract without in any way limiting any other remedies available to Seller. 

  

	 	(3)	Upon request by Seller, Buyer shall provide Seller with Buyer’s and/or Buyer’s guarantor’s (if applicable) audited annual financial statements or unaudited quarterly
financial statements, as the case may be, and any public or private credit ratings by a nationally-recognized credit rating agency as may be available, in order for Seller to determine the financial standing of the Buyer and/or its guarantor (if
applicable). 

  

	 	(4)	If at any time the financial standing of Buyer (or any guarantor, if applicable) or other person furnishing security in support of Buyer) in Seller’s reasonable opinion becomes
impaired or unsatisfactory to Seller, Seller shall have the right to reduce the Credit Line that Buyer may have outstanding without providing additional security pursuant to the first paragraph of this Section 18.1 B(1) upon three days’
prior written notice to Buyer. 

  

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	19.	BANK ACCOUNT DETAILS 

 Payment to be made in US Dollars free of all
charges without withhold or offset to: 
 Payments to Seller: 
 For invoices prior to May 20, 2008: 
 JP Morgan Chase Bank 
 ABA No. 021 000021 
 Account No. *

 For Credit to: Spectra Energy Corp 
 *Portions of this exhibit have been omitted pending a confidential treatment request filed with the Commission 
 For invoices after
May 19, 2008: 
 JP Morgan Chase Bank 
 ABA No. 021 000021 
 Account No. * 
 For Credit to: Spectra Energy Propane, LLC 
 *Portions of this exhibit have been omitted pending a confidential treatment request filed with the Commission 
 Payments to Buyer:

 JP Morgan Chase Bank 
 ABA
No. 021 000021 
 Account No. * 
 For Credit to: DCP Assets Holding LP 
 *Portions of this exhibit have been omitted pending a confidential treatment request filed
with the Commission 
  

	20.	WARRANTY OF TITLE 

 Seller hereby warrants to Buyer that at the time
title in the Product delivered under this Contract passes to Buyer, Seller has the right to sell such Product to Buyer and Seller has good, unencumbered and marketable title to such Product. 
  

	21.	LAYTIME 

  

	 	(a)	When the vessel has arrived at the Brenton Reef Pilot Station, or other Coast Guard approved inspection site, and has been cleared by U.S. Coast Guard and is in all respects ready
to proceed to Buyer’s facility to discharge the product, berth or no berth, the vessel’s master or his representative shall tender notice of readiness to Buyer by letter, telegraph, wireless or telephone. If the notice is by telephone, it
shall be confirmed in writing within two hours of the telephone call. Vessel laytime allowed to Buyer, without demurrage charges, shall be based on a discharge rate of six hundred metric tons per hour, Saturdays, Sundays and holidays included, plus
six hours after receipt of notice of readiness (N.O.R.) 

  

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	 	(b)	Seller shall arrange for the vessel’s master or Seller’s agent to notify the Buyer of the E.T.A. 72, 48, and 24 hours in advance of the vessel’s arrival at the
discharge port. Should the expected arrival hour change following the 48 hour arrival notice, the vessel’s master or Seller’s agent shall promptly notify the Buyer of the new arrival hour. 

  

	 	(c)	None of the following shall count against Buyer’s allowed laytime: 

  

	 	(1)	Time used in moving the vessel from anchorage to berth; 

  

	 	(2)	Time lost due to any delay in the vessel clearing her berth, caused by the vessel; 

  

	 	(3)	Time lost if Seller or any agency or authority having jurisdiction over the port or the dock prohibits the discharging of the product at any time unless the prohibition is caused by
facility’s failure to comply with applicable laws and regulations; 

  

	 	(4)	Time lost in awaiting U.S. Coast Guard, Customs and Immigration clearance; 

  

	 	(5)	Any time lost or delay caused by port restrictions imposed by any agency or authority having jurisdiction over the port or the dock, such as restrictions relating to tides, dark
hours, minimum safety visibility, time waiting for daylight and like conditions; or 

  

	 	(6)	Time lost or delay caused by strike, lockout, stoppage or restraint of labor for master, officers and crew of the vessel or tugboat or pilots. 

  

	 	(d)	If used laytime exceeds allowed laytime for discharging because of Buyer’s inability to receive cargo, then Buyer shall pay for the excess laytime at the demurrage rate per
hour. 

  

	 	(e)	If, however, demurrage shall be incurred by reason of fire, explosion, storm or by a strike, lockout, stoppage or restraint of labor or by breakdown of machinery or equipment in or
about the dock, or in or about Buyer’s Facility, the rate of demurrage shall be reduced to one half of the rate for demurrage so incurred. 

  

	 	(f)	All charges at the discharge port, other than those defined by Worldscale as being for owners’ account (including the expense if any, of shifting berth at the discharge port,
unless such shift shall be for the vessels’ purposes), shall he paid by Buyer. 

  

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	22.	DEMURRAGE 

 The demurrage rate shall be calculated in accordance
with the Braefoot Bay Assessment for the vessel size used, as such Assessment is in effect on notice of readiness date, and if Braefoot Bay Assessment is unavailable on any day, the Sullom Voe Assessment shall be used instead. Demurrage charges
shall be prorated to the number of hours of actual laytirne in excess of allowed laytime. 
 Seller will promptly invoice Buyer for any claimed demurrage
charges, including such documentation as Buyer may reasonably require to verify the calculation of such charges. Buyer will pay all undisputed demurrage charges, without offset, deduction or counterclaim, promptly upon receipt of any invoice from
Seller. If Buyer disputes any portion of Seller’s demurrage claim, it will promptly notify Seller and the parties will negotiate in good faith to promptly resolve such dispute. Buyer will promptly pay the amount of disputed charges
corresponding to the sum agreed between Seller and Buyer. 
  

	23.	RISK AND TITLE 

 Title to Product, as well as risk of loss or damage
thereto, shall pass from Seller to Buyer as the Product passes the flange between the vessel’s cargo discharge manifold and the receiving hose at the Delivery Point. Delivery of the Product shall be deemed to occur when title to and risk of the
Product pass to Buyer. Any loss or damage to the Product occurring during the discharge that is caused by or through the fault of the receiving facilities shall be for the account of Buyer. Any loss or damage to the Product occurring during the
discharge that is caused through the fault of the vessel shall he for the account of Seller. 
  

	24.	FORCE MAJEURE AND EXEMPTION FROM RESPONSIBILITY 

  

	 	(a)	No Party shall be liable for losses or damages of any kind arising from any delay or partial or total non-compliance with the obligations set forth in this Contract that are caused
by an Event of Force Majeure; provided, however, there is no fault or negligence on the part of the claiming Party. 

  

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	 	(b)	Event of Force Majeure 

  

	 	(1)	An “Event of Force Majeure” shall mean any unforeseen or irresistible event that occurs beyond the reasonable control of the Party claiming the Event of Force Majeure and
that could not be prevented or overcome by such Party despite its diligence. As a way of example, and provided that such events meet the definition of an Event of Force Majeure as set out in the preceding sentence, the following events (among
others) shall constitute Events of Force Majeure: earthquakes, lightning, storms, floods, fires, strikes, factory work stoppages (other than work stoppages involving a Party or an affiliate of a Party), war (for the avoidance of any doubt, the term
“war” includes wars which have the impact on the country(ies) of the Parties even their country(ies) is/are not directly involved in such war), state of mobilization, blockades, quarantine restrictions, embargoes, civil disturbances,
restrictions imposed by governmental authorities, explosions, lack of electrical power used to make and/or receive the delivery of Product, closing of the ports by the port authorities, and in general any event that would have the direct or indirect
effect, either temporary or permanent in nature, of preventing or of creating a particular danger for the extraction, pumping, storage, delivery, or removal of the Product at the loading port. The failure of Seller’s suppliers to deliver
Product to Seller shall constitute an Event of Force Majeure to the extent that such failure is excused by an event of force majeure in Seller’s contract with its supplier. 

  

	 	(2)	The Party wishing to declare an Event of Force Majeure shall notify the other Party of the Event of Force Majeure provided that reasonable particulars of the events causing such
declaration in writing as soon as possible and at no later than three (3) days after the occurrence of the Event of Force Majeure. If an Event of Force Majeure has been declared, and as a result, Seller is unable to deliver all of the
quantities of Product that it is obligated to deliver under this Contract, or Buyer is unable to accept delivery of all of the quantities of Product that it is obligated to accept deliver of under this Contract, the Parties shall meet to determine
whether (i) the quantity of Product that was to be delivered or accepted under this Contract should be permanently reduced by the quantities that were not delivered because of the Event of Force Majeure, without that having any effect on the
remainder of this Contract; or (ii) once the Event of Force Majeure is rectified, the quantities affected by the Event of Force Majeure should be delivered subsequently pursuant to the terms of this Contract. If the Parties are unable to agree,
the Party which did not declare the Event of Force Majeure shall be entitled to decide. 

  

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	 	(3)	The Party declaring the Event of Force Majeure shall use commercially reasonable endeavors to ensure the resumption of normal performance of this Contract at the earliest possible
date. If the F.vent of Force Majeure event shall continue for a period in excess of thirty (30) days, the Parties shall meet to discuss the possible solutions to the Event of Force Majeure. 

  

	 	(4)	Neither Party shall be entitled to the benefit of the provisions of this Section 25 to the extent its performance is affected by any or all of the following circumstances:
(i) economic hardship, to include, without limitation, Seller’s ability to sell Product at a higher or more advantageous price than the Contract Price, Buyer’s ability to purchase Product at a lower or more advantageous price than the
Contract Price; (ii) the loss of Buyer’s market(s) or Buyer’s inability to use or resell Product purchased hereunder, except, in either case, as provided in Section 16.1; or (iii) the loss or failure of Seller’s Product
supply or depletion of Product stores, except, in either case, as provided in Section 25(b)(1). Notwithstanding anything to the contrary herein, the parties agree that the settlement of strikes, lockouts or other industrial disturbances shall
be within the sole discretion of the party experiencing such disturbance. 

  

	25.	LAW AND DISPUTE RESOLUTION 

 This Contract shall be interpreted in
accordance with, and Seller’s and Buyer’s respective rights and liabilities hereunder shall be determined by, the laws at the time in effect in the State of New York, U.S.A. 
 Any dispute between the parties regarding interpretation of this Contract, their respective rights and liabilities hereunder, or any other matter arising out of or in connection with this Contract, shall, at the
request of either party by notice to the other, be settled by arbitration in New York, New York, to the exclusion of any other forum or jurisdiction, by one Arbitrator, appointed by agreement of the parties. If an agreement is not reached within
thirty days of the request either party may apply for an appointment by the Chief Judge of the United States District Court for the Southern District of New York, who shall have power to make the appointment. The arbitration shall be conducted in
accordance with the Commercial Arbitration Rules of the American Arbitration Association, and the determination of the arbitrator shall be conclusive on the parties and shall include a statement of the reason for the decision. 
 Unless a Party requests arbitration within two years of the occurrence in dispute, all claims related to the occurrence are barred. 
  

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 The UN Convention on Contracts for the International Sale of Goods (1980) shall not apply. 
  

	26.	LIMITATION OF LIABILITY 

 Neither Seller nor Buyer shall be liable
for consequential, indirect or special losses or damage of any kind arising out of or in any way connected with the conclusion, the performance or the termination of this Contract. 
  

	27.	OTHER TERMS AND CONDITIONS 

 CONTRACTUAL CONTACT: 

 NAME:                       R Paul

 TELEPHONE NO:    (713) 735-3739 
 FAX
NO:                    (713) 735-3106 
 OPERATIONS
CONTACT: 
 NAME:
                      Robert White 
 TELEPHONE
NO.    (866) 363-1075 
 FAX
NO:                    (401) 792-7140 
 IN WITNESS
WHEREOF, the Parties have executed this Agreement in duplicate by their respective duly authorized officers as of the date first written above. 
  

					
	SPECTRA ENERGY PROPANE LLC	 		 	Gas Supply Resources LLC
			
	\s\ William S. Garner	 		 	\s\ William Waldheim
	Name: William S. Garner	 		 	Name: William Waldheim
			
	Title: President	 		 	Title: Group Vice President
			
	Date: As of May 1, 2008	 		 	Date: June 7, 2008

  

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 EXHIBIT “A” 
 TO 
 PROPANE SALES CONTRACT BETWEEN 
 SPECTRA ENERGY PROPANE. LLC, AS SELLER AND 
 GAS SUPPLY RESOURCES LLC, AS BUYER

 Table of Differentials Used to Determine 
 the Delivered Price for each Contract Year 
  

			
	 Contract Year
	  	 Differential

	1	  	*
	2	  	*
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	*	Portions of this exhibit have been omitted pending a confidential treatment request filed with the Commission.MBIA Inc. 2005 Non-Employee Director Deferred Compensation Plan

 Exhibit 10.1 
 MBIA INC. 2005 FOR NON-EMPLOYEE DIRECTOR DEFERRED 
 COMPENSATION PLAN 
 WHEREAS, the Company had adopted the Pre-2005 Plan which remains in effect for deferrals made on or prior to December 31, 2004; 
 WHEREAS, the Company wishes to enable non-employee directors to continue deferring compensation after December 31, 2004 in a manner consistent with
the requirements of Section 409A of the Code so as to avoid the imposition of penalty taxes on non-employee directors deferring compensation; 
 WHEREAS, it is intended that the compensation deferrals under the Pre-2005 Plan shall remain “grandfathered” and therefore not subject to Section 409A of the Code; 
 WHEREAS, this Plan is intended to be a successor to the Pre-2005 Plan, and a continuation thereof, but structured as a separate plan for ease of
recordkeeping and administration; 
 NOW THEREFORE, the Company hereby adopts the MBIA Inc. 2005 Non-Employee Director Deferred Compensation
Plan (the “Plan”) governing deferrals made on and after January 1, 2005. 
  

	 	1.	Purpose. 

 The purpose of the Plan is to permit
eligible directors of MBIA Inc. to defer compensation and to enhance the long-term mutuality of interest between the directors and shareholders of MBIA Inc. by providing eligible directors the opportunity to purchase the common stock of MBIA Inc.
and to otherwise share in the success of MBIA Inc. 
  

	 	2.	Definitions. 

 “Accounts” means the
Investment Account and Share Account maintained by the Company on behalf of each Participant in the Plan. 
 “Board” means
the Board of Directors of the Company. 
 “Code” means the Internal Revenue Code of 1986, as amended, or any subsequent
income tax law of the United States. References to Code sections shall be deemed to include all subsequent amendments of those sections or the corresponding provisions of any subsequent income tax law. 

 “Common Stock” means the common stock of the Company, par value $1.00 per share, any
common stock into which such common stock may be changed and any common stock resulting from the reclassification of such common stock. 
 “Company” means MBIA Inc., a Connecticut corporation. 
 “Deferred Compensation” means, with
respect to a Participant, the aggregate amount of the Retainer and/or Fees deferred by such Participant in accordance with Section 4(a) hereof. 
 “Eligible Director” means a director of the Company who is not an employee of the Company or any of its subsidiaries. 
 “Exchange Shares” means a Share granted to an Eligible Director pursuant to Section 5 hereof in exchange for such Eligible Director’s election to forego receipt of all or a portion of his or
her Retainer or Fees. 
 “Fair Market Value” means, on any date, the closing price of the Common Stock as reported on the
consolidated tape of the New York Stock Exchange (or on such other recognized quotation system on which the trading prices of the Common Stock are quoted at the relevant time) on such date. In the event that there are no Common Stock transactions
reported on such tape (or such other system) on such date, Fair Market Value shall mean the closing price on the immediately preceding date on which Common Stock transactions were so reported. 
 “Fees” means the attendance fees and chairperson fees payable to an Eligible Director for his or her services as a director of the
Company. 
 “Investment Account” means a book entry account established and maintained by the Company on behalf of a
Participant to record the Deferred Compensation allocated to the Participant’s Investment Account and any additions thereto or subtractions therefrom credited or charged in accordance with Section 4(b) hereof. 
 “Participant” means an Eligible Director who has elected in accordance with Section 4(a) of the Plan to defer receipt of any
portion of the Retainer and/or Fees otherwise payable to such Eligible Director. An individual shall cease to be a Participant upon the payment on behalf of such individual of all amounts then standing to the credit of such individual’s
Accounts under the Plan. 
 “Plan” means the MBIA Inc. 2005 Non-Employee Director Deferred Compensation Plan, as the same
may be amended from time to time. 
 “Pre-2005 Plan” means the Amended and Restated Deferred Compensation and Stock
Ownership Plan for Non-Employee Directors of MBIA, Inc. 
  

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 “Retainer” means the annual retainer payable to an Eligible Director for his or her
services as a director of the Company. 
 “Share” means a share of Common Stock. 
 “Share Account” means a book entry account established and maintained by the Company on behalf of a Participant to record the Deferred
Compensation allocated to the Participant’s Share Account and any additions thereto or subtractions therefrom credited or charged in accordance with Section 4(b) hereof. 
  

	 	3.	Administration. 

 (a) The Plan shall be administered
by the Board. The Board may delegate its powers and functions hereunder to a duly appointed committee of the Board consisting of two or more members, each of whom is a “Non-Employee Director” within the meaning of Rule 16b-3, as
promulgated under the Securities Exchange Act of 1934, as amended. 
 (b) The Board shall have full authority to interpret the Plan; to
establish, amend and rescind rules for carrying out the Plan; to administer the Plan; and to make all other determinations and to take such steps in connection with the Plan, the Accounts and any Exchange Shares granted hereunder as the Board, in
its discretion, deems necessary or desirable for administering the Plan. 
 (c) The Board may designate the Secretary of the Company, other
employees of the Company or competent professional advisors to assist the Board in the administration of the Plan and may grant authority to such person to execute agreements or other documents on its behalf. 
 (d) The Board may employ such legal counsel, consultants and agents as it may deem desirable for the administration of the Plan and may rely upon any
opinion received from any such counsel or consultant and any computation received from any such consultant or agent. No member or former member of the Board or any committee thereof or any person designated pursuant to subsection (c) above
shall be liable for any action or determination made in good faith with respect to the Plan, any Account or any grant hereunder. To the maximum extent permitted by applicable law and the Certificate of Incorporation and By-Laws of the Company, each
member or former member of the Board or any committee thereof or any person designated pursuant to subsection (c) above shall be indemnified and held harmless by the Company against any cost or expense (including counsel fees) or liability
(including any sum paid with the approval of the Company in settlement of a claim) arising out of any act or omission to act in connection with the Plan, unless arising out of such person’s own fraud or bad faith. Such indemnification shall be
in addition to any rights of indemnification such person may have as a director, officer or employee of the Company or under the Certificate of Incorporation or the By-Laws of the Company. Expenses incurred by the Board in the engagement of any such
counsel, consultant or agent shall be paid by the Company. 
  

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 (e) For any period after the Effective Date and until December 31, 2007, this Plan shall have been
administered by the Board in accordance with the terms and conditions of the Pre-2005 Plan, but subject to such modifications or adjustments thereto as shall have been necessary to assure good faith compliance with section 409A of the Code during
such period. For this purpose and for purposes of any transitional rule applicable under Section 409A of the Code, this Plan shall be treated as though a continuation of the Pre-2005 Plan. 
  

	 	4.	Deferral Program. 

 (a) Deferral Election.

 (i) Participation. Prior to December 15 of any calendar year, an Eligible Director may elect to defer all or
any portion, in 25% increments, of (i) the Retainer payable for services rendered in the calendar year following the calendar year in which such election is made and (ii) the Fees payable in respect of services rendered in
the calendar year following the calendar year in which such election is made. Any person who shall become an Eligible Director during any calendar year and does not otherwise participate in or is eligible to participate in any “Account Balance
Plan” of the Company within the meaning of Section 409A of the Code may elect, not later than the 30th day following the commencement of his term as an Eligible Director, to defer payment of all or a portion, in 25% increments, of the
Retainer and/or Fees payable for the portion of the calendar year following such election. 
 (ii) Form and Duration of
Deferral Election. A deferral election shall be made by written notice filed with the Secretary of the Company. Such election shall continue in effect (including with respect to the Retainer and/or Fees payable for and/or in, respectively,
subsequent calendar years) unless and until the Participant revokes or modifies such election by written notice filed with the Secretary of the Company. Any such revocation or modification of a deferral election with respect to the Retainer and/or
Fees shall become effective as of the end of the calendar year in which such notice is given and only with respect to the Retainer and/or Fees payable for services as a director in the calendar year following such election. Amounts credited to the
Participant’s Accounts prior to the effective date of any such revocation or modification of a deferral election shall not be affected by such revocation or modification and shall be distributed only in accordance with the otherwise applicable
terms of the Plan. 
  

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 (iii) Renewal. An Eligible Director who has revoked an election to participate in
the Plan may file a new election in accordance with Section 4(a)(i) above to defer (A) the Retainer payable for services to be rendered in the calendar year following the calendar year in which such new election is filed and/or
(B) the Fees payable in the calendar year following the calendar year in which such new election is filed for services to be rendered in the calendar year following the calendar year in which such new election is filed. 
 (b) Participants’ Accounts. 
 (i) Establishment of Accounts. The Company shall maintain an Investment Account and a Share Account on behalf of each Participant and shall make additions to and subtractions from such Accounts as provided
herein. 
 (ii) Investment Account. Deferred Compensation allocated to a Participant’s Investment Account pursuant
to Section 4(b)(iv) shall be credited to the Investment Account as of the date such Deferred Compensation would have been paid to the Participant. As of the end of each calendar quarter, each Participant’s Investment Account shall be
credited with (or reduced by) an amount representing the hypothetical return (or loss) that would have been earned had the amount credited to such Account been invested among the notional investment or investments approved by the Board for purposes
of this Plan and specified in the Participant’s election form during the portion of such calendar quarter that such amounts were credited to the Participant’s Investment Account. 
 (iii) Share Account. Deferred Compensation allocated to a Participant’s Share Account pursuant to Section 4(b)(iv) shall
be deemed to be invested in that number of notional Shares (the “Units”) which is equal to the quotient obtained by dividing (i) the dollar amount of such Deferred Compensation by (ii) the Fair Market Value of a
Share on the date the Deferred Compensation then being allocated to the Share Account would otherwise have been paid to the Participant. Whenever a dividend (other than a dividend payable in the form of Common Stock) is declared with respect to the
Common Stock, the number of Units credited to a Participant’s Share Account shall be increased by that number of Units which is equal to the quotient obtained by dividing 
 (A) an amount equal to the product of (x) the number of Units credited to the Participant’s Share Account on the related dividend
record date multiplied by (y) the amount of any cash dividend declared by the Company with respect to a Share (or, in the case of any dividend distributable in property other than Common Stock, the per share value of such dividend, as
determined by the Company for purposes of income tax reporting) by 
  

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 (B) the Fair Market Value of a Share on the related dividend payment date. 
 In the case of any dividend declared on the Common Stock which is payable in Common Stock, a Participant’s Share Account shall be
increased by that number of Units which is equal to the product of 
 (x) the number of Units credited to the Participant’s Share
Account on the related dividend record date multiplied by 
 (y) the number of Shares (including any fraction thereof) declared as a
dividend with respect to a Share. 
 (iv) Investment Elections with Respect to Deferred Compensation. 
  

	 	(A)	General Rules. Each election with respect to the initial allocation of Deferred Compensation to a Participant’s Share Account pursuant to subsection (B) below or a
change in the manner in which Deferred Compensation is allocated between a Participant’s Accounts pursuant to subsection (C) below shall be irrevocable once made; provided, however, that nothing herein shall preclude a
Participant from making a subsequent election in accordance with subsection (C) below to change the manner in which Deferred Compensation is allocated between such Participant’s Accounts under the Plan. 

  

	 	(B)	Initial Investment Elections. At the time an Eligible Director elects to defer any portion of his or her Retainer or Fees pursuant to Section 4(a), such Eligible
Director shall elect, by written notice delivered to the Secretary of the Company, the manner in which such Deferred Compensation shall be allocated between such Director’s Investment Account and Share Account. Any Deferred Compensation to be
credited to either Account shall be rounded to the nearest whole cent, with amounts equal to or greater than $.005 rounded up and amounts below $.005 rounded down. If an Eligible Director fails to notify the Secretary as to how to allocate the
Deferred Compensation between the two Accounts, 100% of such Deferred Compensation shall be credited to such Director’s Share Account. 

  

	 	(C)	Change of Investment Elections. By written notice to the Secretary of the Company delivered not later than the last day of any calendar quarter, a Participant may elect to
change the manner in which Deferred Compensation is to be allocated between such Participant’s Investment Account and Share Account. 

  

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 (c) Distributions from Accounts. 
 (i) Form of Distribution Election. At the time an Eligible Director makes his or her first deferral election pursuant to
Section 4(a) hereof, such Eligible Director shall also file with the Secretary of the Company a written election (a “Distribution Election”) with respect to the timing, form of payment and manner of distribution of
(A) the aggregate amount, if any, credited to the Director’s Investment Account and (B) the value of any Units credited to the Director’s Share Account. A Distribution Election shall specify that a distribution from
the Investment Account and/or the Share Account shall be paid in one lump sum payment or in such number of installments as such Eligible Director may designate in accordance with Section 4(c)(ii) below. 
 Distributions under the Plan (including distributions made in installments pursuant to Section 4(c)(ii)) shall be made or commence to
be made during the 90 day period commencing immediately following the date the Eligible Director experiences a separation from service within the meaning of Section 409A of the Code. All amounts credited to the Eligible Director’s
Investment Account shall be payable in cash and amounts credited to the Eligible Director’s Share Account shall be payable in Shares. 
 (ii) Installment Payments. In lieu of receiving payment in respect of a Participant’s Accounts in one lump sum payment, in his or her initial Distribution Election, a Participant may elect in accordance
with this Section 4(c) to receive payment of his Accounts in substantially equal annual or monthly installments over a period not exceeding twenty years. In no event may the value of any annual or monthly payment be less than $10,000 or $1,000,
respectively. 
 (iii) Amendment of Distribution Election. 
  

	 	(A)	A Participant may at any time, and from time to time, elect by written notice delivered to the Secretary of the Company to change any Distribution Election; provided,
however, that no such election shall be effective unless (x) it is received by the Secretary of the Company not later than one year prior to the date on which the distribution otherwise would have commenced under
Section 4(c)(i) and (y) installment payments and any lump sum payment made pursuant to the amended Distribution Election shall not begin until at least five years after the distribution otherwise would have been paid.

  

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	 	(B)	In Plan Year 2006, a Participant may elect to change the method in which distributions from his or her Account shall be made from that determined under Section 4(a) to any
other method of distribution that would have been permitted under Section 4(a), above, provided that no such amendment shall (x) change a Deferral Election with respect to distributions that the Participant otherwise would
receive in Plan Year 2006 or (y) cause a distribution to occur in 2006. 

  

	 	(C)	In Plan Year 2007, a Participant may elect to change the method in which distributions from his or her Account shall be made from that determined under Section 4(a) to any
other method of distribution that would have been permitted under Section 4(a), above, provided that no such amendment shall (x) change a Deferral Election with respect to distributions that the Participant otherwise would
receive in Plan Year 2007 or (y) cause a distribution to occur in 2007. 

 (iv) Payment of Plan
Distributions. Any distribution hereunder, whether in the form of a lump sum payment or installments, shall commence in accordance with the Distribution Election made by the Participant in accordance with Section 4(c)(i) or 4(c)(iii),
whichever such Election is effective as of the date distributions hereunder commence. If a Participant fails to specify in accordance with Section 4(c)(i) or 4(c)(iii) that a distribution shall be made in a lump sum payment or a number of
installments, such distribution shall be made in a lump sum payment. In the case of any distribution being made in annual or monthly installments, each installment after the first installment shall be paid on the first business day of each calendar
year or calendar month, as applicable, following the year or month, as applicable, in which such first installment is paid until the entire amount subject to such installment Distribution Election shall have been paid. 
 (v) Investment Account Installment Payments. Where a Participant receives the balance of his Investment Account in annual or
monthly installments, the amount of each installment distribution shall be equal to the product of (i) the balance credited to such Participant’s Investment Account on the date of such distribution and (ii) a fraction,
the numerator of which is one (1) and the denominator of which is the total number of installments remaining to be paid at that time. 
 (vi) Share Account Installment Payments. Where a Participant receives any portion of the balance of his Share Account in annual or monthly installments, the number of Units subject to each installment
distribution shall be equal to the product of (i) the number of Units in such Participant’s Share 

  

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Account on the date of such distribution and (ii) a fraction, the numerator of which is one (1) and the denominator of which is the total
number of installments remaining to be paid at that time. 
 (vii) Distribution on Death. If a Participant shall die
before payment of all amounts credited to the Participant’s Accounts has been completed, the unpaid balance then credited to such Participant’s Accounts shall be paid to the Participant’s designated beneficiaries or estate in
accordance with the Distribution Election then in effect, with payment to begin on the first business day of the first calendar month commencing after the date of the Participant’s death. A Participant may designate a beneficiary or
beneficiaries (which may be an entity other than a natural person) to receive any payments to be made upon the Participant’s death pursuant to this Section 4. At any time, and from time to time, any such designation may be changed or
cancelled by the Participant without the consent of any beneficiary. Any such designation, change or cancellation must be made by written notice filed with the Secretary of the Company. If a Participant designates more than one beneficiary, any
payments to such beneficiaries made pursuant to this Section 4 shall be made in equal shares unless the Participant has designated otherwise, in which case the payments shall be made in the shares designated by the Participant. If no
beneficiary has been named by a Participant, payment shall be made to the Participant’s estate. 
  

	 	5.	Exchange Share Program. 

 (a) Grant. Subject
to the provisions of subsection (c) below, each Eligible Director may elect, by written notice to the Secretary of the Company, to receive Exchange Shares pursuant to the formula set forth in subsection (d) below by agreeing to forgo all
or any portion of such Eligible Director’s Retainer and/or Fees not subject to the Deferral Election that are payable in the calendar year following the calendar year in which such election is made. 
 (b) Date of Issuance. Exchange Shares shall be issued as of the first day of each calendar quarter with respect to which an Eligible Director has
elected to forgo a portion of his or her Retainer or Fees, (i) with respect to the Retainer payable to such Eligible Director, payable for services to be performed during such calendar quarter and (ii) with respect to the
Fees payable to such Eligible Director, payable for services rendered in the immediately preceding calendar quarter (the “Date of Issuance”), but based on the amount of such Retainer or Fees, as applicable, in effect at the time of the
election described in subsection (c) below. Notwithstanding the foregoing, if the Date of Issuance in any calendar quarter is a date on which the New York Stock Exchange (or such other exchange on which the Common Stock is then traded) is not
open for trading, the grant shall be made on the first day thereafter on which the New York Stock Exchange (or such other exchange) is open for trading. 
  

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 (c) Method of Election. An Eligible Director who wishes to elect to receive one or more Exchange
Shares in accordance with Section 5(a) shall deliver to the Secretary of the Company a written irrevocable election, not later than December 15 of each calendar year with respect to the Retainer and/or Fees payable to such Eligible
Director in the next following calendar year, specifying the amount of such Director’s Retainer and/or Fees which he or she wishes to forgo. (If the date an election is due is not a business day, such election shall be due on the last business
day immediately preceding such otherwise applicable date.) In the event that an Eligible Director elects to forgo less than 100% of his or her Retainer and/or Fees for a relevant year, such Director may provide in his or her election that such
foregone amount be applied to the issuance of Exchange Shares pro rata in each calendar quarter or from the full amount of the Retainer and Fees otherwise payable for each quarter until the full amount elected has been so applied. If an Eligible
Director fails to specify the timing of the deductions, the amount of such Director’s forgone Retainer and/or Fees will be applied to the issuance of Exchange Shares pro rata in each calendar quarter. 
 (d) Number of Shares. The number of Exchange Shares to be issued as of each Date of Issuance shall be equal to the number of whole Shares
determined by the quotient of (x) and (y) below, where (x) and (y) are: 
 (x) the dollar amount of the Retainer
and/or Fees being foregone with respect to services to be performed during the applicable quarter in accordance with an election under this Section 5 to receive Exchange Shares; and 
 (y) the Fair Market Value of the Exchange Shares on the Date of Issuance. 
 If the above quotient produces a fractional Share, the Participant shall receive the cash value of such fractional Share, based on the then Fair Market Value, instead of receiving such fractional Share. 
  

	 	6.	Shares; Adjustments in Event of Changes in Capitalization. 

 (a) Shares Authorized for Issuance. The total number of Shares subject to award under the Plan and the Pre-2005 Plan may not exceed 100,000 Shares, subject to adjustment pursuant to subsection (b) below. The Shares as to which
awards are granted hereunder may be either authorized but unissued Shares or issued Shares that have been or may be reacquired by the Company, as determined from time to time by the Board. Any Shares subject to award hereunder which for any reason
are cancelled or terminated without the issuance of any Common Stock shall again be available for award under the Plan. 
  

 10 

 (b) Adjustments in Certain Events. In the event of any stock dividend or stock split,
recapitalization, merger, consolidation, combination, spin-off, distribution of assets to stockholders (other than ordinary cash dividends), exchange of shares, rights offering to purchase Common Stock at a price substantially below fair market
value or other similar corporate change, the Board shall make such equitable adjustments in the number of Shares or Units authorized to be granted hereunder, to the class of any award hereunder, or to any outstanding award, as it deems appropriate
in order to prevent dilution or enlargement of rights. 
  

	 	7.	Amendment and Termination. 

 The Board may at any
time terminate the Plan and may from time to time alter or amend the Plan or any part thereof (including any amendment deemed necessary to ensure that the Company may comply with any regulatory requirement referred to in Section 8(d));
provided, that, unless otherwise required by law, the rights of an Eligible Director with respect to amounts, if any, standing to the credit of such Director’s Investment or Share Account or with respect to Exchanges Shares granted to
such Director prior to such termination, alteration or amendment may not be impaired without the consent of such Director. 
  

	 	8.	Miscellaneous. 

 (a) Unfunded Plan. The
Company shall not be obligated to fund its liabilities under the Plan, the separate memorandum Accounts established for each Participant shall not constitute trusts and no person shall have any claim against the Company or its assets in connection
with the Plan other than as an unsecured general creditor. 
 (b) No Stock Ownership. The crediting of Units to the Share Accounts
pursuant to Section 4(b) hereof shall not be deemed to create any interest in any class of equity securities of the Company and no Participant (or beneficiary) shall have any rights of a shareholder with respect to Units credited hereunder
unless and until certificates representing the Shares subject to such Units are issued to such Participant (or his or her designated beneficiaries). 
 (c) Nonalienation. The right of a Participant to receive a distribution of the value of such Participant’s Accounts payable pursuant to the Plan shall not be subject to assignment or alienation and shall
not be transferable by the Participant other than by will or under the applicable laws of descent and distribution. 
 (d) Regulatory
Compliance and Listing. The issuance or delivery of any Shares or other stock may be postponed by the Company for such period as may be required to comply with any applicable requirements under the Federal securities laws, any applicable listing
requirements of any national securities exchange and requirements 

  

 11 

 
under any other law or regulation applicable to the issuance or delivery of such Shares, and the Company shall not be obligated to issue or deliver any
Shares or other stock if the issuance or delivery of such Shares shall constitute a violation of any provision of any law or of any regulation of any governmental authority or any national securities exchange. The Company shall use reasonable
efforts to comply with any such requirements. 
 (e) Acceleration of Payment. Notwithstanding anything in the Plan to the contrary,
neither the Participant nor the Company may change the Participant’s Distribution Election so as to accelerate the date of distribution or otherwise permit a deferral or distribution in violation of Section 409A of the Code. 
 (f) Status as a Director. Nothing in the Plan shall be deemed to create any obligation on the part of the Board to nominate any director for
reelection by the Company’s shareholders. 
 (g) Tax Withholding. The Company shall have the right to require, prior to the
issuance or delivery of any Shares or other shares of stock or property or the making of any payment hereunder, payment by the Eligible Director of any taxes required by law with respect to the issuance or delivery of such shares or other property
or the making of any such payment. 
  

 12

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