Document:

Long-term deferred compensation agreement dated June 15, 2006

 Exhibit 10.1 
 SHARPER IMAGE CORPORATION 
 2005 OFFICER NON-QUALIFIED DEFERRED COMPENSATION PLAN 
 ARTICLE 1 
 PURPOSE 

This 2005 Officer Non-Qualified Deferred Compensation Plan is designed to provide an opportunity for certain officers of Sharper Image Corporation to
defer compensation. This Plan is intended to be a plan that is unfunded and that is maintained by Sharper Image Corporation primarily for the purpose of providing deferred compensation for a select group of management or highly compensated employees
within the meaning of the Employee Retirement Income Security Act of 1974 (“ERISA”). This Plan shall apply to amounts deferred on or after January 1, 2005. 
 ARTICLE 2 
 DEFINITIONS 
 In this Plan, the following terms have the meanings indicated below: 
 (a) “Account” or “Accounts” means a book account reflecting amounts credited to a Participant’s Separation Account or Scheduled Withdrawal Account under the Plan, as adjusted for
investment performance under the Plan and distributions or withdrawals in accordance with the Plan. To the extent it considers necessary or appropriate, the Committee or its delegate shall maintain a separate subaccount under the Separation Account
and/or Scheduled Withdrawal Account for each type of contribution under the Plan or shall otherwise provide a means for determining that portion of an Account attributable to each type. 
 (b) “Affiliate” means an entity other than the Company whose Associates are authorized to participate in this Plan by the Committee.

 (c) “Base Salary” means the base salary received by a Participant from the Company or any of its subsidiaries or
affiliates during the Plan Year, before reductions for salary deferrals under this Plan and the Company’s 401(k) plan and before salary reductions under a cafeteria plan qualified under Section 125 of the Code. Such base salary
excludes commissions, bonuses, overtime, living or other allowances, contributions by the Company any other employee benefit plan of the Company, vacation buy-out payments or other extra, incentive, premium, contingent, supplemental or additional
compensation, all as defined by the Company, but shall include salary continuation amounts during vacation, illness, etc., but not severance pay. 

 (d) “Base Salary Deferral” means a Participant’s deferral of a portion of his or
her Base Salary pursuant to the terms of this Plan. 
 (e) “Beneficiary” means the person or persons, natural or otherwise,
designated in writing by a Participant before his or her death to receive the Participant’s vested Account balance if the Participant dies before distribution of his or her entire vested Account balance. A Participant may designate one or more
primary Beneficiaries and one or more secondary Beneficiaries. The Participant may revoke or change this designation at any time before his or her death by following such procedures as the Committee may establish. However, if a Participant is
married at the time of his or her death, the designation of a person other than the Participant’s surviving spouse, if any, as a primary Beneficiary shall be void unless the surviving spouse has consented in writing to such designation pursuant
to such procedures as the Committee may establish. If the Committee has not received a Participant’s Beneficiary designation before the Participant’s death or if the Participant does not otherwise have an effective Beneficiary designation
on file when he or she dies, the Participant’s vested Account balance will be distributed to the Participant’s surviving spouse, if any, or, if none, to the Participant’s estate. 
 (f) “Bonus” means an amount awarded to an Eligible Associate under a management bonus incentive program maintained by the Company or an
Affiliate thereof, unless otherwise determined by the Committee. 
 (g) “Bonus Deferral” means a Participant’s deferral
of a portion of his or her Bonus pursuant to the terms of this Plan. 
 (h) “Change in Control” means, unless inconsistent
with Section 409A: 
 (i) The acquisition, directly or indirectly, by any person or related group of persons (as such
term is used in Sections 13(d) and 14(d) of the Exchange Act) of beneficial ownership (as defined in Rule 13d-3 of the Exchange Act) of securities that results in such person or related group of persons beneficially owning securities representing
50% or more of the combined voting power of the Company’s then outstanding securities, but excluding (A) acquisitions directly from the Company, (B) acquisitions by the Participant or a person that directly or indirectly controls, is
controlled by or is under common control with the Company or any employee benefit plan maintained by any such entity and (C) any acquisition by a corporation pursuant to a transaction that satisfies each of the conditions of clauses (A),
(B) and (C) of Paragraph (ii) below; 
 (ii) A merger, consolidation or similar transaction to which the
Company is a party or the sale, transfer or other disposition of all or substantially all of the Company’s assets, unless (A) securities representing at least 50% of the combined voting power of the then 
  

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 outstanding securities of the surviving entity or the entity acquiring the Company’s assets, as the
case may be, or a parent thereof, are immediately thereafter beneficially owned, directly or indirectly and in substantially the same proportions, by persons who beneficially owned the Corporation’s outstanding voting securities immediately
before the transaction, (B) the directors of the Company immediately before the transaction constitute, upon consummation of the transaction, at least a majority of the board of directors of the surviving entity or the entity acquiring the
Company’s assets, as the case may be, or the ultimate parent thereof (for this purpose, treating any change in board of director composition that is anticipated or pursuant to an understanding or agreement in connection with the transaction as
deemed to have occurred at the time of the transaction) and (C) no person acquires securities representing 30% or more of the combined voting power of the then outstanding securities of the surviving entity or the entity acquiring the
Company’s assets, as the case may be, or a parent thereof; or 
 (iii) A change in the composition of the board of
directors of the Company over a period of 12 months or less such that the majority of the board ceases by reason of one or more contested elections for board membership, to be comprised of individuals who either (A) have been board members
since the beginning of such period or (B) have been elected or nominated for election during such period by at least a majority of the board members who were described in clause (A) or who were previously so elected or approved and who
were still in office at the time the board approved such election or nomination; 
 provided that in no event shall a Change in Control
be deemed to have occurred, with respect to a Participant, if the Participant is part of a purchasing group that consummates the Change-in Control transaction. The Participant shall be deemed “part of a purchasing group” for purposes of
the preceding sentence if the Participant is an equity participant in the purchasing company or group (except for (i) passive ownership of less than three percent (3%) of the stock or other equity of the purchasing company; or
(ii) ownership of equity participation in the purchasing company or group which is otherwise not significant, as determined prior to the Change in Control by a majority of the nonemployee continuing directors). 
 (i) “Code” means the Internal Revenue Code of 1986, as amended. 
 (j) “Commission Compensation” means compensation if a substantial portion of the services provided by an Eligible Associate consist of
the direct sale of a product or service to a customer, the compensation paid by the Company to the Eligible Associate consists of either a portion of the purchase price for the product or service or an amount calculated solely by reference to the
volume of sales, and payment of the compensation is contingent upon the Company receiving payment from an unrelated customer for the product or services, or as otherwise defined by Section 409A. 
  

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 (k) “Commission Deferral” means a Participant’s deferral of a portion of his or her
commissions or Commission Compensation pursuant to the terms of this Plan. 
 (1) “Committee” means the 401(k) Plan
Committee of the Board of Directors of the Company, as constituted from time to time. The Committee has full discretionary authority to administer and interpret the Plan, to determine eligibility for Plan benefits, to select Associates for Plan
participation, and to correct errors. The Committee may delegate its duties and responsibilities and, unless the Committee expressly provides to the contrary, any such delegation will carry with it the Committee’s full discretionary authority
to accomplish the delegation. Decisions of the Committee and its delegate will be final and binding on all persons. 
 (m)
“Compensation Committee” means the compensation committee of the Board of Directors of the Company as constituted from time to time. 
 (n) “Company” means Sharper Image Corporation. 
 (o) “Company Contributions”
means a payment to Participant’s Account in an amount equal to a percentage of Participant’s Base Salary designated by the Compensation Committee pursuant to the Plan. 
 (p) “Eligible Associate” means each officer of the Company or of an Affiliate at the level of Vice President or above who has been
selected by the Committee for Plan participation. An individual will automatically cease to be an Eligible Associate on the earliest of (i) the date the individual ceases to qualify under the preceding sentence, (ii) the date specified by
the Committee for such cessation or (iii) the date the Plan is terminated. In addition, the Committee may, in its sole discretion, place further requirements and/or limitations on an Eligible Associate’s participation in any portion of the
Plan. 
 (q) “Key Employee” means any Participant who the Committee, in its sole discretion, determines is a “key
employee” of the Company, as defined in Section 416(i) of the Code, on the identification date specified by the Committee. Generally, this will include any officer of the Company who has annual compensation from the Company in excess of
$130,000 (as adjusted for any year pursuant to Section 416(i) of the Code), any 5 percent owner of the Company and any 1 percent owner of the Company who has annual compensation from the Company in excess of $150,000. 
 (r) “Participant” means a current or former Eligible Associate who retains an Account. 
  

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 (s) “Performance-based Compensation” shall have the meaning specified in
Section 409A. 
 (t) “Plan” means this Sharper Image 2005 Officer Non-qualified Deferred Compensation Plan, as amended
from time to time. 
 (u) “Plan Year” means the calendar year. 
 (v) “Profit Sharing” means an amount received by a Participant under a profit sharing plan maintained by the Company or an Affiliate
thereof. 
 (w) “Profit Sharing Deferral” means a Participant’s deferral of a portion of his or her Profit Sharing
allocation pursuant to the terms of this Plan. 
 (x) “Scheduled Withdrawal Account” means a portion of a Participant’s
Account reflecting an amount to be distributed pursuant to Participant’s election as specified in Article 6. 
 (y) “Section
409A” means Section 409A of the Code and the regulations promulgated thereunder from time to time. 
 (z) “Separation
Account” means a portion of a Participant’s Account reflecting an amount to be distributed pursuant to Participant’s election on Termination of Employment. 
 (aa) “Special Deferred Compensation Arrangement” means any deferred compensation arrangement entered into between an Eligible Associate
and the Company, or an Affiliate thereof, which is approved by the Committee or its delegate pursuant to Section 7.01 hereof. 
 (bb)
“Termination of Employment” means termination of employment (including retirement) with the Company and all Affiliates, other than by reason of death. For purposes hereof, unless otherwise specified by Section 409A, the
employment relationship is treated as continuing intact while the individual is on military leave, sick leave, or other bona fide leave of absence; provided that if the period of such leave exceeds six months and the individual’s right
to reemployment with the Company is not provided either by statute or by contract, the employment relationship is deemed to terminate on the first date immediately following such six-month period. 
 (cc) “Unforeseeable Emergency” shall mean, unless otherwise defined in Section 409A of the Code or the regulations thereunder, a
severe financial hardship to the Participant resulting from (i) an illness or accident of the Participant, the Participant’s spouse, or a dependent (as defined in Section 152(a) of the Code) of the Participant, (ii) a loss of the
Participant’s property due to casualty, or (iii) such other similar extraordinary and unforeseeable circumstances arising as a result of events beyond the control of the Participant, all as determined in the sole discretion of the
Committee. 
  

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 ARTICLE 3 
 BASE SALARY AND BONUS DEFERRALS 
 Section 3.01. Deferral. In order to be eligible for Base Salary, Commission, Bonus and Profit Sharing Deferrals for a Plan Year, an Eligible Associate must make an election for such Plan Year in such form as the Committee shall
specify. Such election generally must be made before the start of the Plan Year in which the services are performed, unless otherwise required by Section 409A. 
 (a) Performance-based Compensation. Notwithstanding the foregoing, in the case of any Performance-based Compensation based upon a performance period of at least 12 months, where the Eligible Associate has
performed services continuously from a date no later than the date upon which the performance criteria are established through a date no earlier than the date upon which the service provider makes an initial deferral election, the Committee may
permit Participants to make a deferral election with respect to such Performance-based Compensation no later than the date that is six months before the end of the performance period; provided that in no event may an election to defer
Performance-based Compensation be made after such compensation has become both substantially certain to be paid and readily ascertainable. 
 (b) Commission Compensation. For purposes of this Section, to the extent required by Section 409A, an Eligible Associate earning Commission Compensation shall be deemed to provide the services to which such Commissions relate in
the year in which the customer remits payment to the Company. 
 Section 3.02. Initial Participation. In addition, if an
individual becomes an Eligible Associate and becomes eligible to participate in the Plan after the beginning of a Plan Year, he or she may elect, within 30 days after the date such Eligible Associate first becomes eligible to participate in the
Plan, to elect Base Salary, Commission, Bonus and/or Profit Sharing Deferrals with respect to Base Salary, Commissions, Bonuses and/or Profit Sharing for such Plan Year on and after such election, to the extent permitted by Section 409A and by
the Committee. 
 Section 3.03. Elections. Elections will remain in effect for one Plan Year or, if and to the extent that the
Committee so permits, for subsequent Plan Years. The Committee may authorize a separate election with respect to one or more types or specific items of compensation and may authorize later elections if it determines, in its sole discretion, that
special circumstances so warrant. 
  

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 Section 3.04. Revocation and Change of Deferral Election. A deferral election may be revoked
or changed by filing a written revocation in such form and within the time period as the Committee shall specify but only to the extent permitted by Section 409A. 
 Section 3.05. Late Election. If an Eligible Associate does not make a timely election, no Base Salary, Commission, Bonus or Profit Sharing Deferrals will be made under the Plan on behalf of that Eligible
Associate with regard to that election for that Plan Year. 
 Section 3.06. Amount. The amount of an Eligible Associate’s
Base Salary, Commission, Bonus and Profit Sharing Deferrals for a Plan Year must be made in a manner and subject to such minimum and maximum limits as the Committee (or in the case of maximum limits, the Compensation Committee) may specify. Until
specified otherwise, elections must be made as in accordance with the following rules: An election may be made to defer (i) any whole dollar amount (not less than $2,000 or percentage (not less than 2% or exceeding 25%) of the
Participant’s Base Salary, (ii) any whole dollar amount (not less than $2,000) or percentage (not less than 5% or exceeding 25%) of the Participant’s commissions, (iii) any whole dollar amount (not less than $2,000) or percentage
(not less than 5% or exceeding 50%) of the cash portion of the Participant’s Bonus (iv) any whole percentage (not less than 5% or exceeding 50%) of the cash portion of the Participant’s Bonus above a dollar amount designated by
Participant and/or (v) any whole dollar amount (not less than $2,000) or whole percentage (not less than 5% or exceeding 50%) of the Participant’s Profit Sharing. An Eligible Associate’s deferral election with respect to such Eligible
Associate’s Base Salary, Commission, Bonus or Profit Sharing shall be void if the amount deferred under such portion of the Eligible Associate’s election is less than $2,000. If an Eligible Associate allocates deferrals to both a Scheduled
Withdrawal Account and a Separation Account, then the amounts deferred to each account must satisfy the foregoing minimum dollar amounts and percentages. 
 Section 3.07. Crediting. Base Salary, Commission, Bonus and Profit Sharing Deferrals will be credited to a Participant’s Separation Account and/or Scheduled Withdrawal Account in the percentage
elected by such Participant as of the date that the deferred Base Salary, Commission Compensation, Bonus or Profit Sharing would otherwise have been paid. 
 ARTICLE 4 
 COMPANY CONTRIBUTIONS 
 Section 4.01. Amount. For any Plan Year or fiscal year of the Company the Compensation Committee may, in its sole discretion, provide
Participants with a Company Contribution equal to a designated percentage of Participant’s Base Salary for such Plan Year or fiscal year or the annual rate of Base Salary on a specified date, as the Compensation Committee may determine.

  

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 Section 4.02. Crediting. Any Company Contribution will be credited to Eligible
Associate’s Accounts at such date as the Compensation Committee specifies. Any Company Contribution will be allocated to a Participant’s Separation Account. 
 ARTICLE 5 
 EARNINGS AND VESTING 
 Section 5.01. Earnings. Amounts credited to a Participant’s Account under the Plan shall be credited with earnings, at periodic
intervals determined by the Committee, at a rate equal to the actual rate of return (after reduction for associated expenses specified by the Committee) for such period of an investment fund or funds or index or indices selected by that Participant
from a range of investment vehicles authorized by the Committee. A Participant may change his or her investment selections at periodic intervals determined by the Committee. The rate of return on investment vehicles shall be tracked solely for the
purpose of computing the amount of benefits payable to Participants under the Plan. The Company shall be under no obligation to invest any assets in any such investment vehicle, but if the Company invests in such an investment vehicle to hedge its
obligations under the Plan (or a hedging transaction is made under a Trust), earnings credited to an Account shall be adjusted for such expenses associated with such investment as the Committee shall specify and the timing of an assumed change in
investment vehicle for purposes of determining earnings on an Account and/or the date for valuing an Account for distribution purposes may be delayed until a related hedging transaction is implemented or undone, as the case may be. 
 Section 5.02. Vesting. Participants will be 100% vested in that portion of their Account balance attributable to any Base Salary, Commission,
Bonus or Profit Sharing Deferrals at all times. Unless otherwise provided by the Compensation Committee, a Participant will vest in that portion of his or her Account balance attributable to a Company Contribution in equal annual installments over a
five (5) year period beginning on the date that such Company Contribution is credited to the Participant’s Accounts. Notwithstanding the foregoing, a Participant shall become 100% vested in that portion of his or her Account balance
attributable to Company Contributions on the effective date of a Change in Control. That portion of an Account attributable to amounts deferred under a Special Deferred Compensation Arrangement shall vest in accordance with the terms of that
arrangement. 
  

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 ARTICLE 6 
 DISTRIBUTIONS 
 Section 6.01. Normal Distribution of Benefits. A
Participant’s vested Account balance will be distributed in a single lump sum during the later of (i) the first January following the Participant’s Termination of Employment or (ii) if the Participant is a Key Employee, six
months following the Participant’s Termination of Employment, subject to any elections made subject to the procedures described below (and such additional requirements as the Committee may determine) and other special provisions of this
Article: 
 (a) Elections. When an Eligible Associate first confirms his or her initial participation in the Plan, the Eligible
Associate may elect, in writing, to credit his or her deferrals to either or both of the following distribution accounts; provided that the Committee may authorize a separate election with respect to one or more items of compensation: 
 (i) Separation Account. Distributions of the vested portion of a Participant’s Separation Account will commence on the later
of (i) the first January following the Participant’s Termination of Employment or (ii) if the Participant is a Key Employee, six months following the Participant’s Termination of Employment. Subject to compliance with
Section 409A, a Participant may elect that, if on the date of such Participant’s Termination of Employment, the Participant has completed at least five (5) years of service with the Company or an Affiliate and has a vested Separation
Account balance of at least $50,000, the vested portion of the Participant’s Separation Account will be distributed in a series of annual installments, not in excess of the lesser of (A) ten (10) or (B) the number of years of
service that the Participant rendered with the company or an Affiliate. The amount of each installment will be the remaining balance of the Participant’s vested Separation Account divided by the number of installments remaining (including the
installment to be made). Distributions from Separation Accounts shall be made in cash. 
 (ii) Scheduled Withdrawal
Account. Distributions of the vested portion of a Participant’s Scheduled Withdrawal Account will commence during the January elected by Participant at least one year after the Participant’s election is filed, unless otherwise required
by Section 409A. A Participant may elect that the vested portion of his or her Scheduled Withdrawal Account will be distributed in a series of annual installments, not in excess of four installments. The amount of each installment will be the
remaining balance of the Participant’s vested Scheduled Withdrawal Account divided by the number of installments remaining (including the installment to be made). In the event of a Participant’s Termination of Employment prior to receipt
of all distributions from his or her Scheduled Withdrawal Account, Participant’s remaining vested Scheduled Withdrawal Account will be distributed during the first January following 
  

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 the Participant’s Termination of Employment (or, if later, the first January at least one year after
the election is filed) or, if the Participant is a Key Employee, six months following the Participant’s Termination of Employment. Distributions from Separation Accounts shall be made in cash. 
 (b) Subsequent Elections. A Participant’s distributions election with respect to his or her Scheduled Withdrawal Account is irrevocable. A
Participant may change a distribution election with respect to his or her vested Separation Account balance by submitting the change to the Committee, in writing, provided that (subject to Section 409A): 
 (i) such change cannot be made effective until at least 12 months after the date on which the change is filed; 
 (ii) in the case of an election not related to death or Unforeseeable Emergency, the payment with respect to which such election is made
is deferred for a period of not less than 5 years from the date such payment would otherwise have been paid (or, in the case of a life annuity, if applicable, or installment payments treated as a single payment, 5 years from the date the first
amount was scheduled to be paid); and 
 (iii) any payment at a specified time or pursuant to a fixed schedule may not be made
less than 12 months prior to the date the payment is scheduled to be paid (or, in the case of a life annuity, if applicable, or installment payments treated as a single payment, 12 months from the date the first amount was scheduled to be paid).

 (c) Default. If, upon a Participant’s Termination of Employment, the Committee does not have a proper distribution election on
file for that Participant, the vested portion of that Participant’s Account balance will be distributed to the Participant in one lump sum in the first January after the date of the Participant’s Termination of Employment (or, if later,
the first January at one year after the Participant’s initial deferral election is filed) or, if the Participant is a Key Employee, six months, following the Participant’s Termination of Employment. 
 (d) Unvested Amounts. The unvested portion of an Eligible Associate’s Account balance shall be forfeited at the time of the Eligible
Associate’s Termination of Employment. 
 Section 6.02. Acceleration of Distributions. The timing and form of distribution
may be accelerated by the Participant only as follows: 
 (a) Unforeseesable Emergency. If a Participant has an Unforeseeable Emergency
and has no other resources that could be liquidated or otherwise accessed to relieve this hardship without such liquidation or access itself causing a 
  

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 severe financial hardship, the Participant may request a hardship withdrawal. The total hardship withdrawal must be
approved by the Committee, and shall be limited to the amount reasonably necessary to meet the emergency need, taking into account the suspension under clause (b) of this Section, and in no event may such amount exceed the vested portion of the
Participant’s Account balance. The Participant may petition the Committee to suspend deferrals to the extent deemed necessary by the Committee to satisfy the Unforeseeable Financial Emergency. If suspension of deferrals is not sufficient to
satisfy the Participant’s Unforeseeable Financial Emergency, or if suspension of deferrals is not required under applicable tax law, the Participant may further petition the Committee to receive a partial or full payout from the Plan. Hardship
withdrawals will be taken first from a Participant’s vested Separation Account balance and then from Participant’s vested Scheduled Withdrawal Account balance. 
 (b) Suspension. A participant who elects a withdrawal under clause (a) of this Section may not make further deferrals under this Plan until the beginning of the second Plan Year commencing after the date
of the withdrawal, and any further deferrals under existing deferral elections shall be suspended until such date. 
 Section 6.03.
Death. If a Participant dies with a vested amount in his or her Account, whether or not distributions had commenced from that Account at the time of his or her death, the remaining vested balance in the Participant’s Account shall be
paid to such Participant’s Beneficiary or Beneficiaries in one lump sum in the first January after the Participant’s death. 
 Section 6.04. Change in Control. Notwithstanding Section 6.01, in the event of a Change in Control, a Participant shall receive a lump sum distribution of the vested portion of his or her Account (including any portion that
vests by reason of the Change in Control) within 30 days following the effective date of such Change in Control; provided that receipt of such distribution shall be subject to a six-month wait after Termination of Employment if required by
Section 409A. 
 Section 6.05. Section 162(m). In the event the payment of a distribution will cause the loss of a tax
deduction for the Company under Section 162(m) of the Code, or any successor provision, the distribution shall be deferred to the first year in which the Company reasonably anticipates that a payment of such amount would not result in a
limitation of a deduction with respect to the payment of such amount under Section 162(m) of the code. However, this Section shall not apply to any Participant seeking a withdrawal on account of an Unforeseeable Emergency under
Section 6.02 or to distributions made after the effective date of a Change in Control of the Company. 
 Section 6.06.
Withholding. The Company will deduct from Plan payouts, or from other compensation payable to a Participant or Beneficiary, amounts required by law to be withheld for taxes with respect to benefits under this Plan. 
  

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 The Company reserves the right to reduce any supplemental deferral or contribution that would otherwise be made under
this Plan on behalf of a Participant to satisfy the Participant’s tax withholding liabilities. 
 Section 6.07. Valuation.
For purposes of calculating the amount to be distributed to a Participant on each distribution date, Participant’s Account balance will be valued (i) for distributions made in January of any calendar year, on December 31 of the
preceding calendar year or (ii) for distributions on any other date, as of the end of the last month ending at least 30 days before the distribution date. 
 ARTICLE 7 
 SPECIAL DEFERRED COMPENSATION
ARRANGEMENTS 
 Section 7.01. General. If an Eligible Associate enters into a separate arrangement with the
Company or an Affiliate for the payment of nonqualified deferred compensation or the Company authorizes the deferral of additional types of compensation arrangements (including but not limited to severance payments, special bonuses, bonuses or other
compensation earned with a predecessor company) (“Special Deferred Compensation Arrangement”), payment of such compensation shall be made through this Plan, unless expressly specified otherwise under such arrangement. 
 Section 7.02. Defined Contribution Arrangements. If the Special Deferred Compensation Arrangement is in the nature of a defined contribution
arrangement, the deferred amount will be credited to Eligible Associates’ Account when such amounts would otherwise have been paid or when specified under the arrangement. Amounts so credited to the Eligible Associate’s Account will be
credited with earnings and, to the extent vested under the arrangement, shall become distributed in accordance with the terms of the Plan, except to the extent specified under the arrangement. 
 Section 7.03. Defined Benefit Arrangements. If a Special Deferred Compensation Arrangement is in the nature of a defined benefit arrangement,
the benefit shall be payable hereunder if, at the time and in the form specified in the arrangement. 
 ARTICLE 8 
 MISCELLANEOUS 
 Section 8.01. Limitation of Rights. Participation in this Plan does not give any individual the right to be retained in the service of the Company or of any related entity. 
  

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 Section 8.02. Claims Procedure. If a Participant or Beneficiary (“Claimant”)
believes that he or she is entitled to a greater benefit under the Plan, the Claimant may submit a signed, written application to the Committee within 90 days of having been denied such a greater benefit. The Claimant will generally be notified
of the approval or denial of this application within 90 days of the date that the Committee receives the application. If the claim is denied, the notification will state specific reasons for the denial and the Claimant will have 60 days to file a
signed, written request for a review of the denial with the Committee. This request will include the reasons for requesting a review, facts supporting the request and any other relevant comments. The Committee, operating pursuant to its
discretionary authority to administer and interpret the Plan and to determine eligibility for benefits under the terms of the Plan, will generally make a final, written determination of the Claimant’s eligibility for benefits within 60 days for
receipt of the request for review. 
 Section 8.03. Indemnification. The Company and the Affiliates will indemnify and hold
harmless the Directors, the members of the Committee, and Associates and employees of the Company and the Affiliates who may be deemed fiduciaries of the Plan, from and against any and all liabilities, claims, costs and expenses, including
attorneys’ fees, arising out of an alleged breach in the performance of their fiduciary duties under the Plan, other than such liabilities, claims, costs and expenses as may result from the gross negligence or willful misconduct of such
persons. The Company and the Affiliates shall have the right, but not the obligation, to conduct the defense of such persons in any proceeding to which this Section applies. 
 Section 8.04. Assignment. To the fullest extent permitted by law, benefits under the Plan and rights thereto are not subject in any manner to
anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment, or garnishment by creditors of a Participant or a Beneficiary. 
 Section 8.05. Amendment and Termination. The Company’s Board of Directors may, at any time, amend or terminate the Plan. In addition, the Committee may amend the Plan (other than this Section),
provided that no such amendment may cause any substantial increase in cost to the Company or to any Affiliate. Any amendment must be made in writing; no oral amendment will be effective. No amendment or termination may, without the consent of an
affected Participant (or, if the Participant is deceased, the Participant’s Beneficiary) or, as set forth below, adversely affect the Participant’s or the Beneficiary’s rights and obligations under the Plan with respect to amounts
already credited to a Participant’s Account; provided that the Company’s Board of Directors may amend the Plan at any time to the extent deemed necessary or appropriate to comply with Section 409A. Notwithstanding the
foregoing, if the Plan is terminated, the Company’s Board of Directors may determine that all Accounts will be paid out as soon as practicable thereafter in single sum payments if permitted by Section 409A. In addition, if the Committee
determines that additional restrictions must be placed on Participants’ rights regarding the 
  

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 determination of earnings on amounts credited to their Accounts, their ability to make or change distribution elections
or their ability to accelerate distributions or on their rights as creditors in order to avoid current taxation of amounts deferred under the Plan, the Compensation Committee may amend the Plan to impose such restrictions unless it determines in its
sole discretion that it is in the Participants’ interests to terminate the Plan and distribute Accounts. 
 Section 8.06.
Applicable Law. To the extent not governed by Federal law, the laws of the State of California, disregarding choice of law, will govern the Plan. If any provision of the Plan is held to be invalid or unenforceable, the remaining provisions of
the Plan will continue to be fully effective. 
 Section 8.07. No Funding. The Plan constitutes a mere promise by the Company and
the Affiliates to make payments in the future in accordance with the terms of the Plan. Participants and Beneficiaries have the status of general unsecured creditors of the Company and the Affiliates. Except to the extent provided below in
Section 8.08, Plan benefits will be paid from the general assets of the Company and the Affiliates and nothing in the Plan will be construed to give any Participant or any other person rights to any specific assets of the Company or the
Affiliates. In all events, it is the intention of the Company, all Affiliates and all Participants that the Plan be treated as unfunded for tax purposes and for purposes of Title I of ERISA. 
 Section 8.08. Trust. The Committee may determine that Plan benefits will be paid from the assets of a grantor trust (the
“Trust”) established by the Company to assist it in meeting its obligations and, to the extent that such assets are not sufficient, by the Company. The Trust shall conform to the terms of the Internal Revenue Service Model Trust as
described in Internal Revenue Service Procedure 92-64 or to the requirements of successor authority regarding trusts established under non-qualified deferred compensation arrangements. 
 Section 8.09. Section 409A. This Plan is intended to comply with the applicable requirements of Section 409A and shall be construed
and interpreted in accordance therewith. The Company may at any time amend, suspend or terminate this Plan, or any payments to be made hereunder, as necessary to be in compliance with Section 409A. Notwithstanding the preceding, the Company
shall not be liable to any Participant or any other person if any applicable authority determines for any reason that any payments under this Plan are subject to taxes, penalties or interest as a result of failing to comply with Section 409A.

 IN WITNESS WHEREOF, Sharper Image Corporation has caused this Plan to be executed by its duly authorized representative on the date
indicated below. 
  

			
	By:	 	 /s/ Jeffrey P. Forgan

	Date:	 	June 15, 2006

  

 14Credit Agreement Dated as of June 15, 2006

 Exhibit 10.1 
 Execution Copy 
  

 CREDIT AGREEMENT 
 DATED AS OF JUNE 15, 2006 
 AMONG 
 STANCORP FINANCIAL GROUP,
INC., 
 as Borrower, 
 THE LENDERS LISTED HEREIN, 
 as Lenders, 
 WELLS FARGO BANK, NATIONAL ASSOCIATION, 
 as Administrative Agent, 
 and 
 U.S. BANK NATIONAL
ASSOCIATION, 
 as Syndication Agent 
  

 WELLS FARGO BANK, NATIONAL ASSOCIATION 
 and 
 U.S. BANK NATIONAL ASSOCIATION, 
 as Joint Lead Arrangers and Joint Bookrunners 
  

 TABLE OF CONTENTS 
  

					
	 	  	 	  	Page
	 Section 1.   
	  	 DEFINITIONS
	  	1
			
	 1.1    
	  	 Certain Defined Terms
	  	1
	 1.2    
	  	 Accounting Terms; Utilization of GAAP for Purposes of Calculations Under Agreement
	  	19
	 1.3    
	  	 Other Definitional Provisions and Rules of Construction
	  	20
			
	 Section 2.   
	  	 AMOUNTS AND TERMS OF LOANS
	  	20
			
	 2.1    
	  	 Loans; Making of Loans; the Register; Optional Notes
	  	20
	 2.2    
	  	 Interest on the Loans
	  	26
	 2.3    
	  	 Fees
	  	29
	 2.4    
	  	 Repayments, Prepayments and Reductions of Revolving Loan Commitment Amount; General Provisions Regarding Payments
	  	29
	 2.5    
	  	 Use of Proceeds
	  	32
	 2.6    
	  	 Special Provisions Governing Eurodollar Rate Loans
	  	32
	 2.7    
	  	 Increased Costs; Taxes; Capital Adequacy
	  	35
	 2.8    
	  	 Statement of Lenders; Obligation of Lenders and Issuing Lenders to Mitigate
	  	39
	 2.9    
	  	 Replacement of a Lender
	  	40
	 2.10  
	  	 Increase in Commitments
	  	41
	 2.11  
	  	 Extension of Revolving Loan Commitment Termination Date
	  	42
			
	 Section 3.   
	  	 LETTERS OF CREDIT
	  	43
			
	 3.1    
	  	 Issuance of Letters of Credit and Lenders’ Purchase of Participations Therein
	  	43
	 3.2    
	  	 Letter of Credit Fees
	  	45
	 3.3    
	  	 Drawings and Reimbursement of Amounts Paid Under Letters of Credit
	  	45
	 3.4    
	  	 Obligations Absolute
	  	48
	 3.5    
	  	 Nature of Issuing Lenders’ Duties
	  	49
	 3.6    
	  	 Applicability of UCP
	  	49
			
	 Section 4.   
	  	 CONDITIONS TO LOANS AND LETTERS OF CREDIT
	  	49
			
	 4.1    
	  	 Conditions to Closing
	  	50
	 4.2    
	  	 Conditions to Effective Date; All Loans
	  	51
	 4.3    
	  	 Conditions to Letters of Credit
	  	52
			
	 Section 5.   
	  	 COMPANY’S REPRESENTATIONS AND WARRANTIES
	  	52
			
	 5.1    
	  	 Organization, Powers, Qualification, Good Standing, Business and Subsidiaries
	  	52
	 5.2    
	  	 Authorization of Borrowing, etc.
	  	53

  

 i 

					
	 5.3    
	  	 Financial Condition
	  	54
	 5.4    
	  	 No Material Adverse Change
	  	55
	 5.5    
	  	 Title to Properties; Liens
	  	55
	 5.6    
	  	 Litigation; Adverse Facts
	  	55
	 5.7    
	  	 Payment of Taxes
	  	55
	 5.8    
	  	 Governmental Regulation
	  	55
	 5.9    
	  	 Securities Activities
	  	56
	 5.10  
	  	 Employee Benefit Plans
	  	56
	 5.11  
	  	 Environmental Protection
	  	56
	 5.12  
	  	 Solvency
	  	57
	 5.13  
	  	 Disclosure
	  	57
	 5.14  
	  	 Foreign Assets Control Regulations, etc.
	  	57
	 5.15  
	  	 Insurance Licenses
	  	57
			
	 Section 6.   
	  	 AFFIRMATIVE COVENANTS
	  	58
			
	 6.1    
	  	 Financial Statements and Other Reports
	  	58
	 6.2    
	  	 Existence, etc.
	  	62
	 6.3    
	  	 Payment of Taxes and Claims
	  	62
	 6.4    
	  	 Maintenance of Properties; Insurance
	  	63
	 6.5    
	  	 Inspection Rights
	  	63
	 6.6    
	  	 Compliance with Laws, etc.
	  	63
			
	 Section 7.   
	  	 NEGATIVE COVENANTS
	  	63
			
	 7.1    
	  	 Liens and Related Matters
	  	64
	 7.2    
	  	 Acquisitions
	  	64
	 7.3    
	  	 Restricted Junior Payments
	  	65
	 7.4    
	  	 Financial Covenants
	  	65
	 7.5    
	  	 Restriction on Fundamental Changes; Asset Sales
	  	65
	 7.6    
	  	 Transactions with Affiliates
	  	66
	 7.7    
	  	 Conduct of Business
	  	66
	 7.8    
	  	 Fiscal Year
	  	66
	 7.9    
	  	 Subsidiary Indebtedness
	  	67
			
	 Section 8.   
	  	 EVENTS OF DEFAULT
	  	67
			
	 8.1    
	  	 Failure to Make Payments When Due
	  	67
	 8.2    
	  	 Default in Other Agreements
	  	67
	 8.3    
	  	 Breach of Certain Covenants
	  	68
	 8.4    
	  	 Breach of Warranty
	  	68
	 8.5    
	  	 Other Defaults Under Loan Documents
	  	68
	 8.6    
	  	 Involuntary Bankruptcy; Appointment of Receiver, etc.
	  	68
	 8.7    
	  	 Voluntary Bankruptcy; Appointment of Receiver, etc.
	  	68
	 8.8    
	  	 Judgments and Attachments
	  	69
	 8.9    
	  	 Dissolution
	  	69
	 8.10  
	  	 Employee Benefit Plans
	  	69

  

 ii 

					
	 8.11    
	  	 Change in Control
	  	69
	 8.12    
	  	 Licensing
	  	69
	 8.13    
	  	 Certain Proceedings
	  	70
	 8.14    
	  	 Invalidity of Loan Documents; Repudiation of Obligations
	  	70
			
	 Section 9.   
	  	 ADMINISTRATIVE AGENT
	  	71
			
	 9.1    
	  	 Appointment
	  	71
	 9.2    
	  	 Powers and Duties; General Immunity
	  	71
	 9.3    
	  	 Independent Investigation by Lenders; No Responsibility For Appraisal of Creditworthiness
	  	73
	 9.4    
	  	 Right to Indemnity
	  	73
	 9.5    
	  	 Resignation of Administrative Agent; Successor Administrative Agent and Swing Line Lender
	  	73
	 9.6    
	  	 Duties of Other Agents
	  	74
	 9.7    
	  	 Administrative Agent May File Proofs of Claim
	  	74
			
	 Section 10. 
	  	 MISCELLANEOUS
	  	75
			
	 10.1  
	  	 Successors and Assigns; Assignments and Participations in Loans and Letters of Credit
	  	75
	 10.2  
	  	 Expenses
	  	78
	 10.3  
	  	 Indemnity
	  	79
	 10.4  
	  	 Set-Off
	  	80
	 10.5  
	  	 Ratable Sharing
	  	80
	 10.6  
	  	 Amendments and Waivers
	  	81
	 10.7  
	  	 Independence of Covenants
	  	82
	 10.8  
	  	 Notices; Effectiveness of Signatures; Posting on Electronic Delivery Systems
	  	82
	 10.9  
	  	 Survival of Representations, Warranties and Agreements
	  	84
	 10.10
	  	 Failure or Indulgence Not Waiver; Remedies Cumulative
	  	84
	 10.11
	  	 Marshalling; Payments Set Aside
	  	85
	 10.12
	  	 Severability
	  	85
	 10.13
	  	 Obligations Several; Independent Nature of Lenders’ Rights; Damage Waiver
	  	85
	 10.14
	  	 Applicable Law
	  	86
	 10.15
	  	 Construction of Agreement; Nature of Relationship
	  	86
	 10.16
	  	 Consent to Jurisdiction and Service of Process
	  	86
	 10.17
	  	 Waiver of Jury Trial
	  	87
	 10.18
	  	 Confidentiality
	  	87
	 10.19
	  	 Counterparts; Effectiveness
	  	88
	 10.20
	  	 USA Patriot Act
	  	88

  

 iii 

 EXHIBITS 
  

			
	 I
	  	FORM OF NOTICE OF REVOLVING BORROWING
		
	 II
	  	FORM OF NOTICE OF CONVERSION/CONTINUATION
		
	 III
	  	FORM OF REQUEST FOR ISSUANCE
		
	 IV
	  	FORM OF REVOLVING NOTE
		
	 V
	  	FORM OF SWING LINE NOTE
		
	 VI
	  	FORM OF COMPLIANCE CERTIFICATE
		
	 VII
	  	FORM OF ASSIGNMENT AGREEMENT

  

 iv 

 SCHEDULES 
  

			
	 2.1
	  	LENDERS’ COMMITMENTS AND PRO RATA SHARES
		
	 5.15
	  	INSURANCE LICENSES
		
	 7.1
	  	CERTAIN EXISTING LIENS
		
	 7.9
	  	EXISTING SUBSIDIARY INDEBTEDNESS
		
	 10.8
	  	NOTICE ADDRESSES

  

 v 

 STANCORP FINANCIAL GROUP, INC. 
 CREDIT AGREEMENT 
 This CREDIT AGREEMENT is dated as of June 15,
2006 and entered into by and among STANCORP FINANCIAL GROUP, INC., an Oregon corporation (“Company”), THE FINANCIAL INSTITUTIONS LISTED ON THE SIGNATURE PAGES HEREOF (each individually referred to herein as a
“Lender” and collectively as “Lenders”), WELLS FARGO BANK, NATIONAL ASSOCIATION (“Wells Fargo”), as administrative agent for Lenders (in such capacity, “Administrative Agent”), and
U.S. BANK NATIONAL ASSOCIATION, as syndication agent for Lenders (in such capacity, “Syndication Agent”). 
 RECITALS 
 WHEREAS, Lenders, at the request of Company, have agreed to extend certain credit facilities to Company,
the proceeds of which will be used to provide financing for working capital and other general corporate purposes of Company and its Subsidiaries: 
 NOW, THEREFORE, in consideration of the premises and the agreements, provisions and covenants herein contained, Company, Lenders and Administrative Agent agree as follows: 
  

	Section 1.	DEFINITIONS 

  

	 	1.1	Certain Defined Terms. 

 The
following terms used in this Agreement shall have the following meanings: 
 “Administrative Agent” has the
meaning assigned to that term in the introduction to this Agreement and also means and includes any successor Administrative Agent appointed pursuant to subsection 9.5A. 
 “Administrative Questionnaire” means an Administrative Questionnaire in a form supplied by the Administrative Agent.

 “Affected Lender” has the meaning assigned to that term in subsection 2.6C. 
 “Affected Loans” has the meaning assigned to that term in subsection 2.6C. 
 “Affiliate”, as applied to any Person, means any other Person directly or indirectly controlling, controlled by, or under
common control with, that Person. For the purposes of this definition, “control” (including, with correlative meanings, the terms “controlling”, “controlled by” and “under common control with”), as applied to
any Person, means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of that Person, whether through the ownership of voting securities or by contract or otherwise; provided, however,
that the term “Affiliate” shall specifically exclude the Agents and each Lender. 

 “Agents” means Administrative Agent, and the Syndication Agent named in
the introduction to this Agreement. 
 “Agreement” means this Credit Agreement. 
 “Annual Statement” means the annual statutory financial statement of any Insurance Subsidiary required to be filed with
the insurance commissioner (or similar authority) of its jurisdiction of incorporation, which statement shall be in the form required by such Insurance Subsidiary’s jurisdiction of incorporation or, if no specific form is so required, in the
form of financial statements permitted by such insurance commissioner (or such similar authority) to be used for filing annual statutory financial statements and shall contain the type of information permitted by such insurance commissioner (or such
similar authority) to be disclosed therein, together with all exhibits or schedules filed therewith. 
 “Applicable
Margin” means, with respect to the Eurodollar Margin, the Facility Fee or the Utilization Fee, as the case may be, from time to time, the following rate per annum based upon the Leverage Ratio as set forth below: 
  

												
	 Pricing
 Level
	    	Consolidated
Leverage Ratio	 	Eurodollar
Margin	 	    	 Facility
 Fee
	 	    	 Utilization
 Fee
	 
	 Pricing Level I
	    	£15.0%	 	0.22	%	    	0.06	%	    	0.07	%
	 Pricing Level II
	    	>15.0% but £20.0%	 	0.30	%	    	0.08	%	    	0.07	%
	 Pricing Level III
	    	>20.0% but £25.0%	 	0.35	%	    	0.10	%	    	0.10	%
	 Pricing Level IV
	    	>25.0% but £ 30.0%	 	0.425	%	    	0.125	%	    	0.10	%
	 Pricing Level V
	    	>30.0%	 	0.50	%	    	0.15	%	    	0.10	%

 The Applicable Margin shall be determined in accordance with the foregoing table
based on Company’s Consolidated Leverage Ratio as reflected in the then most recent financial statements delivered pursuant to Section 6.1(ii) and (iii). Adjustments, if any, to the Applicable Margin shall be effective five
Business Days after the Administrative Agent has received the applicable financial statements. If Company fails to deliver its financial statements to the Administrative Agent at the time required pursuant to the Credit Agreement, then the
Applicable Margin shall be the highest Applicable Margin set forth in the foregoing table until five days after such financial statements are so delivered. Until adjusted commencing with the delivery of Company’s financial statements with
respect to the fiscal quarter ending June 30, 2006, Pricing Level II shall be deemed to exist. 
 “Approved
Fund” means a Fund that is administered or managed by (i) a Lender, (ii) an Affiliate of a Lender or (iii) an entity or an Affiliate of an entity that administers or manages a Lender. 
  

 2 

 “Asset Sale” means the sale by Company or any of its Subsidiaries to any
Person other than Company or any of its wholly-owned Subsidiaries of (i) any of the Capital Stock of any of Company’s Subsidiaries, (ii) substantially all of the assets of any division or line of business of Company or any of its
Subsidiaries, or (iii) any other assets (whether tangible or intangible) of Company or any of its Subsidiaries (other than (a) sales, assignments, transfers or dispositions of accounts in the ordinary course of business for purposes of
collection and (b) sales, assignments, transfers or dispositions of investment assets by the Company or any of its Insurance Subsidiaries in the ordinary course of business). 
 “Assignment Agreement” means an Assignment and Assumption in substantially the form of Exhibit VII annexed hereto.

 “Bankruptcy Code” means Title 11 of the United States Code entitled “Bankruptcy”, as now and
hereafter in effect, or any successor statute. 
 “Base Rate” means, at any time, the higher of (i) the
Prime Rate or (ii) the rate which is 1/2 of 1% in excess of the Federal Funds Effective Rate. Any change in the Base Rate due to a change in the Prime Rate or the Federal Funds Effective Rate shall be effective on the effective date of such
change. 
 “Base Rate Loans” means Loans bearing interest at rates determined by reference to the Base Rate
as provided in subsection 2.2A. 
 “Business Day” means (i) except as set forth in clause
(ii) below, any day excluding Saturday, Sunday and any day which is a legal holiday under the laws of the State of New York or is a day on which banking institutions located in such state are authorized or required by law or other governmental
action to close, and (ii) with respect to all notices, determinations, fundings and payments in connection with the Eurodollar Rate or any Eurodollar Rate Loans, any day that is a Business Day described in clause (i) above and that is also
a day for trading by and between banks in Dollar deposits in the London interbank market. 
 “Capital Lease”,
as applied to any Person, means any lease of any property (whether real, personal or mixed) by that Person as lessee that, in conformity with GAAP, is accounted for as a capital lease on the balance sheet of that Person. 
 “Capital Stock” means the capital stock of or other equity interests in a Person. 
 “Cash” means money, currency or a credit balance in a Deposit Account. 
 “Change in Control” means any of the following: 
 (a) the acquisition by any Person, or two or more Persons acting in concert, of beneficial ownership (within the meaning of Rule 13d-3 of
the Securities and Exchange Commission under the Securities Exchange Act of 1934), but excluding any employee benefit plan of such Person or its Subsidiaries, of 20% or more of the outstanding shares of voting stock of Company; 
  

 3 

 (b) during any period of 12 consecutive months, a majority of the members of the board of
directors of Company cease to be composed of individuals (i) who were members of the board of directors on the first day of such period, (ii) whose election or nomination to the board of directors was approved by individuals referred to in
clause (i) above constituting at the time of such election or nomination at least a majority of the board of directors or (iii) whose election or nomination to the board of directors was approved by individuals referred to in clauses
(i) and (ii) above constituting at the time of such election or nomination at least a majority of the board of directors; or 
 (c) any Person or two or more Persons acting in concert will have acquired by contract or otherwise, or will have entered into a contract or arrangement that, upon consummation thereof, will result in its or their
acquisition of the power to exercise, directly or indirectly, a controlling influence over the management or policies of Company, or control over the equity securities of Company entitled to vote for members of the board of directors or equivalent
governing body of Company on a fully-diluted basis (and taking into account all such securities that such Person or group has the right to acquire pursuant to any option right) representing 30% or more of the combined voting power of such
securities. 
 “Change in Law” means the occurrence, after the date of this Agreement, of any of the
following: (i) the adoption or taking effect of any law, rule, regulation, treaty or order, (ii) any change in any law, rule, regulation or treaty or in the administration, interpretation or application thereof by any Government Authority,
(iii) any determination of a court or other Government Authority or (iv) the making or issuance of any request, guideline or directive (whether or not having the force of law) by any Government Authority. 
 “Closing Date” means the date on which the conditions precedent set forth in subsection 4.1 have been satisfied.

 “Commitments” means the commitments of Lenders to make Loans as set forth in subsections 2.1A and 3.3.

 “Company” has the meaning assigned to that term in the introduction to this Agreement. 
 “Compliance Certificate” means a certificate substantially in the form of Exhibit VI annexed hereto. 

“Consolidated Leverage Ratio” means, as of the last day of any Fiscal Quarter, the ratio of (i) Consolidated
Total Debt as of such day to (ii) Consolidated Total Capitalization as of such day. 
 “Consolidated Net
Worth” means, as of any date of determination, the shareholders’ equity of Company and its Subsidiaries determined on a consolidated basis as of such date in accordance with GAAP (excluding the effect of Statement of Financial
Accounting Standards No. 115). 
 “Consolidated Total Capitalization” means, as of any date of
determination, the sum of (a) Consolidated Net Worth and (b) Consolidated Total Debt. 
  

 4 

 “Consolidated Total Debt” means, as of any date of determination, the
aggregate amount of all Indebtedness of Company and its Subsidiaries, determined on a consolidated basis in accordance with GAAP. For the purpose of this definition, amounts determined pursuant to clause (iv) of the definition of Indebtedness
shall be limited to reimbursement obligations in respect of drawings on letters of credit or similar instruments. 
 “Contingent Obligation”, as applied to any Person, means any direct or indirect liability, contingent or otherwise, of that Person (i) with respect to any Indebtedness, lease, dividend or other obligation of another if
the primary purpose or intent thereof by the Person incurring the Contingent Obligation is to provide assurance to the obligee of such obligation of another that such obligation of another will be paid or discharged, or that any agreements relating
thereto will be complied with, or that the holders of such obligation will be protected (in whole or in part) against loss in respect thereof or (ii) with respect to any letter of credit issued for the account of that Person or as to which that
Person is otherwise liable for reimbursement of drawings. Contingent Obligations shall include (a) the direct or indirect guaranty, endorsement (otherwise than for collection or deposit in the ordinary course of business), co-making,
discounting with recourse or sale with recourse by such Person of the obligation of another, (b) the obligation to make take-or-pay or similar payments if required regardless of non-performance by any other party or parties to an agreement, and
(c) any liability of such Person for the obligation of another through any agreement (contingent or otherwise) (1) to purchase, repurchase or otherwise acquire such obligation or any security therefor, or to provide funds for the payment
or discharge of such obligation (whether in the form of loans, advances, stock purchases, capital contributions or otherwise) or (2) to maintain the solvency or any balance sheet item, level of income or financial condition of another if, in
the case of any agreement described under subclauses (1) or (2) of this sentence, the primary purpose or intent thereof is as described in the preceding sentence. The amount of any Contingent Obligation shall be equal to the amount of the
obligation so guaranteed or otherwise supported or, if less, the amount to which such Contingent Obligation is specifically limited. 
 “Contractual Obligation”, as applied to any Person, means any provision of any Security issued by that Person or of any material indenture, mortgage, deed of trust, contract, undertaking, agreement or other instrument to
which that Person is a party or by which it or any of its properties is bound or to which it or any of its properties is subject. 
 “Currency Agreement” means any foreign exchange contract, currency swap agreement, futures contract, option contract, synthetic cap or other similar agreement or arrangement to which Company or any of its Subsidiaries is a
party. 
 “Defaulting Lender” means any Lender that (a) has failed to fund any portion of the Revolving
Loans, participations in Letters of Credit or participations in Swing Line Loans required to be funded by it hereunder within one Business Day of the date required to be funded by it hereunder, (b) has otherwise failed to pay over to
Administrative Agent or any other Lender any other amount required to be paid by it hereunder within one Business Day of the date when due, unless the subject of a good faith dispute, or (c) has been deemed insolvent or become the subject of a
bankruptcy or insolvency proceeding. 
  

 5 

 “Deposit Account” means a demand, time, savings, passbook or similar
account maintained with a Person engaged in the business of banking, including a savings bank, savings and loan association, credit union or trust company. 
 “Dollars” and the sign “$” mean the lawful money of the United States of America. 
 “Effective Date” means the date on which the conditions precedent set forth in subsection 4.1 have been satisfied. 
 “Eligible Assignee” means (i) any Lender, any Affiliate of any Lender or any Approved Fund of any Lender; and
(ii) (a) a commercial bank organized under the laws of the United States or any state thereof; (b) a savings and loan association or savings bank organized under the laws of the United States or any state thereof; (c) a
commercial bank organized under the laws of any other country or a political subdivision thereof; provided that (1) such bank is acting through a branch or agency located in the United States or (2) such bank is organized under the
laws of a country that is a member of the Organization for Economic Cooperation and Development or a political subdivision of such country; and (d) any other entity that is an institutional “accredited investor” (as defined in
Regulation D under the Securities Act) that extends credit or buys loans as one of its businesses, including insurance companies and mutual funds; provided that neither Company nor any Affiliate of Company shall be an Eligible Assignee.

 “Employee Benefit Plan” means any “employee benefit plan”, as defined in Section 3(3) of
ERISA, which is or was maintained or contributed to by Company, any of its Subsidiaries or any of their respective ERISA Affiliates. 
 “Environmental Claim” means any investigation, notice, notice of violation, claim, action, suit, proceeding, demand, abatement order or other order or directive (conditional or otherwise), by any Government Authority or any
other Person, arising (i) pursuant to or in connection with any actual or alleged violation of any Environmental Law, (ii) in connection with any Hazardous Materials or any actual or alleged Hazardous Materials Activity, or (iii) in
connection with any actual or alleged damage, injury, threat or harm to health, safety, natural resources or the environment. 
 “Environmental Laws” means any and all current or future statutes, ordinances, orders, rules, regulations, guidance documents, judgments, Governmental Authorizations, or any other requirements of any Government Authority
relating to (i) environmental matters, including those relating to any Hazardous Materials Activity, (ii) the generation, use, storage, transportation or disposal of Hazardous Materials, or (iii) occupational safety and health,
industrial hygiene, land use or the protection of human, plant or animal health or welfare, in any manner applicable to Company or any of its Subsidiaries or any of its properties. 
 “ERISA” means the Employee Retirement Income Security Act of 1974, as amended from time to time, and any successor
thereto. 
 “ERISA Affiliate”, as applied to any Person, means (i) any corporation that is a member of a
controlled group of corporations within the meaning of Section 414(b) of the 

  

 6 

 
Internal Revenue Code of which that Person is a member; (ii) any trade or business (whether or not incorporated) that is a member of a group of trades
or businesses under common control within the meaning of Section 414(c) of the Internal Revenue Code of which that Person is a member; and (iii) any member of an affiliated service group within the meaning of Section 414(m) or
(o) of the Internal Revenue Code of which that Person, any corporation described in clause (i) above or any trade or business described in clause (ii) above is a member. Any former ERISA Affiliate of a Person or any of its
Subsidiaries shall continue to be considered an ERISA Affiliate of such Person or such Subsidiary within the meaning of this definition with respect to the period such entity was an ERISA Affiliate of such Person or such Subsidiary and with respect
to liabilities arising after such period for which such Person or such Subsidiary could be liable under the Internal Revenue Code or ERISA. 
 “ERISA Event” means (i) a “reportable event” within the meaning of Section 4043 of ERISA and the regulations issued thereunder with respect to any Pension Plan (excluding those for
which the provision for 30-day notice to the PBGC has been waived by regulation); (ii) the failure to meet the minimum funding standard of Section 412 of the Internal Revenue Code with respect to any Pension Plan (whether or not waived in
accordance with Section 412(d) of the Internal Revenue Code) or the failure to make by its due date a required installment under Section 412(m) of the Internal Revenue Code with respect to any Pension Plan or the failure to make any
required contribution to a Multiemployer Plan; (iii) the provision by the administrator of any Pension Plan pursuant to Section 4041(a)(2) of ERISA of a notice of intent to terminate such plan in a distress termination described in
Section 4041(c) of ERISA; (iv) the withdrawal by Company, any of its Subsidiaries or any of their respective ERISA Affiliates from any Pension Plan with two or more contributing sponsors or the termination of any such Pension Plan
resulting in a material liability pursuant to Section 4063 or 4064 of ERISA; (v) the institution by the PBGC of proceedings to terminate any Pension Plan, or the occurrence of any event or condition which might constitute grounds under
ERISA for the termination of, or the appointment of a trustee to administer, any Pension Plan; (vi) the imposition of liability on Company, any of its Subsidiaries or any of their respective ERISA Affiliates pursuant to Section 4062(e) or
4069 of ERISA or by reason of the application of Section 4212(c) of ERISA; (vii) the withdrawal of Company, any of its Subsidiaries or any of their respective ERISA Affiliates in a complete or partial withdrawal (within the meaning of
Sections 4203 and 4205 of ERISA) from any Multiemployer Plan if there would be any liability therefor, or the receipt by Company, any of its Subsidiaries or any of their respective ERISA Affiliates of notice from any Multiemployer Plan that it is in
reorganization or insolvency pursuant to Section 4241 or 4245 of ERISA, or that it intends to terminate or has terminated under Section 4041A or 4042 of ERISA; (viii) the assertion of a claim (other than routine claims for benefits
and other immaterial claims) against any Employee Benefit Plan other than a Multiemployer Plan or the assets thereof, or against Company, any of its Subsidiaries or any of their respective ERISA Affiliates in connection with any Employee Benefit
Plan; (ix) receipt from the Internal Revenue Service of notice of the failure of any Pension Plan (or any other Employee Benefit Plan intended to be qualified under Section 401(a) of the Internal Revenue Code) to qualify under
Section 401(a) of the Internal Revenue Code, or the failure of any trust forming part of any Pension Plan to qualify for exemption from taxation under Section 501(a) of the Internal Revenue Code where such failure would reasonably be
expected to result in a Material Adverse Effect; or (x) the imposition of a Lien pursuant to Section 401(a)(29) or 412(n) of the Internal Revenue Code or pursuant to ERISA with respect to any Pension Plan. With 

  

 7 

 
respect to a Multiemployer Plan or a Pension Plan not maintained or contributed to by Company or its Subsidiaries, an event described above shall not be an
ERISA Event unless it is reasonably likely to result in material liability to Company or any of its Subsidiaries. 
 “Eurodollar Rate” means, for any Interest Rate Determination Date with respect to an Interest Period for a Eurodollar Rate Loan, the rate per annum obtained by dividing (i) (A) the rate per annum (rounded
upward to the nearest 1/16 of one percent) that appears on the Moneyline Telerate page 3750 (or such other comparable page as may, in the opinion of Administrative Agent, replace such page for the purpose of displaying such rate) as the interbank
offered rate for Dollar deposits with maturities comparable to such Interest Period as of approximately 11:00 A.M. (London time) on such Interest Rate Determination Date or (B) if such rate is not available at such time for any reason, the rate
per annum obtained by dividing (i) the arithmetic average (rounded upward to the nearest 1/16 of one percent) of the offered quotations, if any, to first class banks in the interbank Eurodollar market by Wells Fargo for Dollar deposits of
amounts in same day funds comparable to the principal amount of the Eurodollar Rate Loan of Wells Fargo for which the Eurodollar Rate is then being determined with maturities comparable to such Interest Period as of approximately 12:00 Noon (New
York time) on such Interest Rate Determination Date by (ii) a percentage equal to 100% minus the stated maximum rate of all reserve requirements (including any marginal, emergency, supplemental, special or other reserves)
applicable on such Interest Rate Determination Date to any member bank of the Federal Reserve System in respect of “Eurocurrency liabilities” as defined in Regulation D (or any successor category of liabilities under Regulation D).

 “Eurodollar Rate Loans” means Revolving Loans bearing interest at rates determined by reference to the
Eurodollar Rate as provided in subsection 2.2A. 
 “Eurodollar Rate Margin” means the margin over the
Eurodollar Rate used in determining the rate of interest of Eurodollar Rate Loans in accordance with the definition of Applicable Margin. 
 “Event of Default” means each of the events set forth in Section 8. 
 “Exchange Act” means the Securities Exchange Act of 1934, as amended from time to time, and any successor statute. 
 “Excluded Taxes” means, with respect to the Administrative Agent, any Lender, or any other recipient of any payment to be made by or on account of any obligation of Company hereunder (i) taxes
that are imposed on the overall net income (however denominated) and franchise taxes imposed in lieu thereof (a) by the United States, (b) by any other Government Authority under the laws of which such Lender is organized or has its
principal office or maintains its applicable lending office, or (c) by any Government Authority solely as a result of a present or former connection between such recipient and the jurisdiction of such Government Authority (other than any such
connection arising solely from such recipient having executed, delivered or performed its obligations or received a payment under, or enforced, any of the Loan Documents), (ii) taxes that are imposed on gross income in lieu of net income (other
than a gross income tax imposed by means of withholding) by any state or local Governmental Authority in the United States under the laws of which such Lender is organized or has its principal office or 

  

 8 

 
maintains its applicable lending office, (iii) any branch profits taxes imposed by the United States or any similar tax imposed by any other
jurisdiction in which Company is located, and (iv) in the case of a Foreign Lender (other than an assignee pursuant to a request of Company under subsection 2.9), any withholding tax that (x) is imposed on amounts payable to such Foreign
Lender at the time it becomes a party hereto (or designates a new lending office), (y) is attributable to such Foreign Lender’s failure or inability (other than as a result of a Change in Law) to comply with its obligations under
subsection 2.7B(iv), except to the extent that such Foreign Lender (or its assignor, if any) was entitled, at the time of designation of a new lending office (or assignment), to receive additional amounts from Company with respect to such
withholding tax pursuant to subsection 2.7B, or (z) is required to be deducted under applicable law from any payment hereunder on the basis of the information provided by such Foreign Lender pursuant to clause (d) of subsection 2.7B(iv).

 “Extension Request” is defined in subsection 2.11. 
 “Federal Funds Effective Rate” means, for any period, a fluctuating interest rate equal for each day during such period
to the weighted average of the rates on overnight Federal funds transactions with members of the Federal Reserve System arranged by Federal funds brokers, as published for such day (or, if such day is not a Business Day, for the next preceding
Business Day) by the Federal Reserve Bank of New York, or, if such rate is not so published for any day which is a Business Day, the average of the quotations for such day on such transactions received by Administrative Agent from three Federal
funds brokers of recognized standing selected by Administrative Agent. 
 “Fiscal Quarter” means a fiscal
quarter of any Fiscal Year. 
 “Fiscal Year” means the fiscal year of Company and its Subsidiaries ending on
December 31 of each calendar year. For purposes of this Agreement, any particular Fiscal Year shall be designated by reference to the calendar year in which such Fiscal Year ends. 
 “Foreign Lender” means any Lender that is organized under the laws of a jurisdiction other than that in which Company is
resident for tax purposes. For purposes of this definition, the United States, each state thereof and the District of Columbia shall be deemed to constitute a single jurisdiction. 
 “Fund” means any Person (other than a natural Person) that is (or will be) engaged in making, purchasing, holding or
otherwise investing in commercial loans and similar extensions of credit in the ordinary course. 
 “Funding and
Payment Office” means (i) the office of Administrative Agent and Wells Fargo, in its capacity as a Swing Line Lender, located at 201 Third Street, 8th Floor, San Francisco, California 94103, or the office of U.S. Bank, in its capacity
as a Swing Line Lender, located at 1420 Fifth Avenue, 9th Floor, Seattle, Washington 98101, as applicable, or (ii) such other office of Administrative Agent or either Swing Line Lender as may from time to time hereafter be designated as such in
a written notice delivered by Administrative Agent or such Swing Line Lender to Company and each Lender. 
 “Funding
Date” means the date of funding of a Loan. 
  

 9 

 “GAAP” means, subject to the limitations on the application thereof set
forth in subsection 1.2, generally accepted accounting principles set forth in opinions and pronouncements of the Accounting Principles Board of the American Institute of Certified Public Accountants and statements and pronouncements of the
Financial Accounting Standards Board or in such other statements by such other entity as may be approved by a significant segment of the accounting profession, in each case as the same are applicable to the circumstances as of the date of
determination. 
 “Governing Body” means the board of directors or other body having the power to direct or
cause the direction of the management and policies of a Person that is a corporation, partnership, trust or limited liability company. 
 “Government Authority” means the government of the United States or any other nation, or any state, regional or local political subdivision or department thereof, and any other governmental or
regulatory agency, authority, body, commission, central bank, board, bureau, organ, court, instrumentality or other entity exercising executive, legislative, judicial, taxing, regulatory or administrative powers or functions of or pertaining to
government, in each case whether federal, state, local or foreign (including supra-national bodies such as the European Union or the European Central Bank). 
 “Governmental Authorization” means any permit, license, registration, authorization, plan, directive, accreditation,
consent, order or consent decree of or from, or notice to, any Government Authority. 
 “Hazardous Materials”
means (i) any chemical, material or substance at any time defined as or included in the definition of “hazardous substances”, “hazardous wastes”, “hazardous materials”, “extremely hazardous waste”,
“acutely hazardous waste”, “radioactive waste”, “biohazardous waste”, “pollutant”, “toxic pollutant”, “contaminant”, “restricted hazardous waste”, “infectious waste”,
“toxic substances”, or any other term or expression intended to define, list or classify substances by reason of properties harmful to health, safety or the indoor or outdoor environment (including harmful properties such as ignitability,
corrosivity, reactivity, carcinogenicity, toxicity, reproductive toxicity, “TCLP toxicity” or “EP toxicity” or words of similar import under any applicable Environmental Laws); (ii) any oil, petroleum, petroleum fraction or
petroleum derived substance; (iii) any drilling fluids, produced waters and other wastes associated with the exploration, development or production of crude oil, natural gas or geothermal resources; (iv) any flammable substances or
explosives; (v) any radioactive materials; (vi) any asbestos-containing materials; (vii) urea formaldehyde foam insulation; (viii) electrical equipment which contains any oil or dielectric fluid containing polychlorinated
biphenyls; (ix) pesticides; and (x) any other chemical, material or substance, exposure to which is prohibited, limited or regulated by any Government Authority or which may or could pose a hazard to the health and safety of the owners,
occupants or any Persons in the vicinity of any facility of Company or any of its Subsidiaries or to the indoor or outdoor environment. 
 “Hazardous Materials Activity” means any past, current, proposed or threatened activity, event or occurrence involving any Hazardous Materials, including the use, manufacture, possession, storage,
holding, presence, existence, location, Release, threatened Release, discharge, placement, generation, transportation, processing, construction, treatment, abatement, 

  

 10 

 
removal, remediation, disposal, disposition or handling of any Hazardous Materials, and any corrective action or response action with respect to any of the
foregoing. 
 “Indebtedness”, as applied to any Person, means, without duplication, (i) indebtedness
created, issued or incurred for borrowed money (whether by loan or the issuance and sale of debt securities), but excluding customer deposits, investment accounts and certificates, insurance reserves and passbook accounts, (ii) that portion of
obligations with respect to Capital Leases that is properly classified as a liability on a balance sheet in conformity with GAAP, (iii) obligations to pay the deferred purchase or acquisition price of property or services, other than trade
accounts payable (other than for borrowed money) arising, and accrued expenses incurred, in the ordinary course of business (excluding any such obligations incurred under ERISA), (iv) obligations in respect of letters of credit or similar
instruments, whether drawn or undrawn, (v) obligations secured by a Lien on the property of such Person, whether or not such indebtedness shall have been assumed by such Person; and (vi) Contingent Obligations of such Person in respect of
Indebtedness of the types described in clauses (i), (ii), (iii) and (iv) of this definition. 
 “Indemnified
Liabilities” has the meaning assigned to that term in subsection 10.3. 
 “Indemnified Taxes” means
Taxes other than Excluded Taxes. 
 “Indemnitee” has the meaning assigned to that term in subsection 10.3.

 “Insurance Subsidiary” means any Subsidiary which is engaged in the insurance business. 
 “Interest Payment Date” means (i) with respect to any Base Rate Loan, the last Business Day of each March, June,
September and December of each year, commencing on the first such date to occur after the Closing Date, and (ii) with respect to any Eurodollar Rate Loan, the last day of each Interest Period applicable to such Loan; provided that in the
case of each Interest Period of longer than three months “Interest Payment Date” shall also include each date that is three months, or a multiple thereof, after the commencement of such Interest Period. 
 “Interest Period” has the meaning assigned to that term in subsection 2.2B. 
 “Interest Rate Agreement” means any interest rate swap agreement, interest rate cap agreement, interest rate collar
agreement or other similar agreement or arrangement to which Company or any of its Subsidiaries is a party. 
 “Interest Rate Determination Date”, with respect to any Interest Period, means the second Business Day prior to the first day of such Interest Period. 
 “Internal Revenue Code” means the Internal Revenue Code of 1986, as amended to the date hereof and from time to time
hereafter, and any successor statute. 
 “Issuing Lender”, with respect to any Letter of Credit, means Wells
Fargo, in its capacity as issuer of Letters of Credit hereunder. 
  

 11 

 “Lender” and “Lenders” means the Persons identified as
“Lenders” and listed on the signature pages of this Agreement, together with their successors and permitted assigns pursuant to subsection 10.1, and the term “Lenders” shall include each Swing Line Lender unless the context
otherwise requires. 
 “Letter of Credit” or “Letters of Credit” means standby letters of
credit issued or to be issued by Issuing Lender for the account of Company pursuant to subsection 3.1. 
 “Letter of
Credit Usage” means, as at any date of determination, the sum of (i) the maximum aggregate amount which is or at any time thereafter may become available for drawing under all Letters of Credit then outstanding plus
(ii) the aggregate amount of all drawings under Letters of Credit honored by Issuing Lenders and not theretofore reimbursed out of the proceeds of Revolving Loans pursuant to subsection 3.3B or otherwise reimbursed by Company. For all purposes
of this Agreement, if on any date of determination a Letter of Credit has expired by its terms but any amount may still be drawn thereunder by reason of the operation of the UCP, such Letter of Credit shall be deemed to be “outstanding” in
the amount so remaining available to be drawn. 
 “License” means any license, certificate of authority,
permit or other authorization which is required to be obtained from any Government Authority in connection with the operation, ownership or transaction of insurance, broker-dealer or investment advisory businesses or other regulated businesses.

 “Lien” means any lien, mortgage, pledge, assignment, security interest, charge or encumbrance of any kind
(including any conditional sale or other title retention agreement, any lease in the nature thereof, and any agreement to give any security interest) and any option, trust or other preferential arrangement having the practical effect of any of the
foregoing. 
 “Loan” or “Loans” means one or more of the Loans made by Lenders to Company
pursuant to subsection 2.1A and shall include one or more Revolving Loans and Swing Line Loans. 
 “Loan
Documents” means this Agreement, the Notes and the Letters of Credit (and any applications for, or reimbursement agreements or other documents or certificates executed by Company in favor of an Issuing Lender relating to, the Letters of
Credit). 
 “Margin Stock” has the meaning assigned to that term in Regulation U of the Board of Governors of
the Federal Reserve System as in effect from time to time. 
 “Material Adverse Effect” means a material
adverse effect upon (i) the business, financial condition, prospects or operations of Company and its Subsidiaries taken as a whole or (ii) Company’s ability to perform its obligations under the Loan Documents, or (iii) the
enforceability of the Obligations. 
 “Moody’s” means Moody’s Investors Service, Inc. 

“Multiemployer Plan” means any Employee Benefit Plan that is a “multiemployer plan” as defined in
Section 3(37) of ERISA. 
  

 12 

 “Notes” means one or more of the Revolving Notes or Swing Line Note or
any combination thereof. 
 “Notice of Conversion/Continuation” means a notice substantially in the form of
Exhibit II annexed hereto. 
 “Notice of Revolving Borrowing” means a notice substantially in the form
of Exhibit I annexed hereto signed by an Officer of Company authorized in a writing previously delivered to Administrative Agent. 
 “Obligations” means all obligations of every nature of Company from time to time owed to Administrative Agent, Lenders or any of them under the Loan Documents, whether for principal, interest,
reimbursement of amounts drawn under Letters of Credit, fees, expenses, indemnification or otherwise. 
 “Officer” means the president, chief executive officer, a vice president, chief financial officer, treasurer, general partner (if an individual), managing member (if an individual) or other individual appointed by the
Governing Body or the Organizational Documents of a corporation, partnership, trust or limited liability company to serve in a similar capacity as the foregoing. 
 “Officer’s Certificate”, as applied to any Person that is a corporation, partnership, trust or limited liability
company, means a certificate executed on behalf of such Person by one or more Officers of such Person or one or more Officers of a general partner or a managing member if such general partner or managing member is a corporation, partnership, trust
or limited liability company. 
 “Organizational Documents” means the documents (including bylaws, if
applicable) pursuant to which a Person that is a corporation, partnership, trust or limited liability company is organized. 
 “Other Taxes” means all present or future stamp or documentary taxes or any other excise or property taxes, charges, fees, expenses or similar levies arising from any payment made hereunder or under any other Loan Document
or from the execution, delivery or enforcement of, or otherwise with respect to, this Agreement or any other Loan Document. 
 “Participant” means a purchaser of a participation in the rights and obligations under this Agreement pursuant to subsection 10.1C. 
 “PBGC” means the Pension Benefit Guaranty Corporation or any successor thereto. 
 “Pension Plan” means any Employee Benefit Plan, other than a Multiemployer Plan, that is subject to Section 412 of
the Internal Revenue Code or Section 302 of ERISA. 
  

 13 

 “Permitted Encumbrances” means the following types of Liens: 

(i) Liens for taxes, assessments or governmental charges or claims the payment of which is not, at the time, required by subsection 6.3; 
 (ii) statutory Liens of landlords, Liens of collecting banks under the UCC on items in the course of collection, statutory Liens and rights of set-off of
banks, statutory Liens of carriers, warehousemen, mechanics, repairmen, workmen and materialmen, and other Liens imposed by law, in each case incurred in the ordinary course of business (a) for amounts not yet overdue or (b) for amounts
that are overdue and that (in the case of any such amounts overdue for a period in excess of 5 days) are being contested in good faith by appropriate proceedings, so long as (1) such reserves or other appropriate provisions, if any, as shall be
required by GAAP shall have been made for any such contested amounts, and (2) no foreclosure, sale or similar proceedings have been commenced; 
 (iii) deposits made in the ordinary course of business (A) in connection with workers’ compensation, unemployment insurance, and other types of social security, (B) with state insurance departments, or (C) to secure the
performance of statutory obligations, bids, leases, government contracts, trade contracts, and other similar obligations (exclusive of obligations for the payment of borrowed money), so long as no foreclosure, sale or similar proceedings have been
commenced with respect thereto; 
 (iv) any attachment or judgment Lien not constituting an Event of Default under subsection 8.8; 

(v) licenses (with respect to intellectual property and other property), leases or subleases granted to third parties not interfering in any material
respect with the ordinary conduct of the business of Company or any of its Subsidiaries; 
 (vi) easements, rights-of-way, restrictions,
encroachments, and other minor defects or irregularities in title, in each case which do not and will not interfere in any material respect with the ordinary conduct of the business of Company or any of its Subsidiaries; 
 (vii) any (a) interest or title of a lessor or sublessor under any lease not prohibited by this Agreement, (b) Lien or restriction that the
interest or title of such lessor or sublessor may be subject to, or (c) subordination of the interest of the lessee or sublessee under such lease to any Lien or restriction referred to in the preceding clause (b), so long as the holder of such
Lien or restriction agrees to recognize the rights of such lessee or sublessee under such lease; 
 (viii) Liens arising from filing UCC
financing statements relating solely to leases not prohibited by this Agreement; 
 (ix) Liens in favor of customs and revenue authorities
arising as a matter of law to secure payment of customs duties in connection with the importation of goods; 
  

 14 

 (x) any zoning or similar law or right reserved to or vested in any Government Authority to control or
regulate the use of any real property; and 
 (xi) Liens securing obligations (other than obligations representing Indebtedness for borrowed
money) under operating, reciprocal easement or similar agreements entered into in the ordinary course of business of Company and its Subsidiaries. 
 “Person” means and includes natural persons, corporations, limited partnerships, general partnerships, limited liability companies, limited liability partnerships, joint stock companies, joint
ventures, associations, companies, trusts, banks, trust companies, land trusts, business trusts or other organizations, whether or not legal entities, and Government Authorities. 
 “Potential Event of Default” means a condition or event that, after notice or lapse of time or both, would constitute an
Event of Default. 
 “Prime Rate” means the rate that Wells Fargo announces from time to time as its prime
lending rate, as in effect from time to time. The Prime Rate is a reference rate and does not necessarily represent the lowest or best rate actually charged to any customer. Wells Fargo or any other Lender may make commercial loans or other loans at
rates of interest at, above or below the Prime Rate. 
 “Proceedings” means any action, suit, proceeding
(whether administrative, judicial or otherwise), governmental investigation or arbitration. 
 “Pro Rata
Share” means (i) with respect to all payments, computations and other matters relating to the Revolving Loan Commitment or the Revolving Loans of any Lender or any Letters of Credit issued or participations therein deemed purchased by
any Lender or any assignments of any Swing Line Loans deemed purchased by any Lender, the percentage obtained by dividing (x) the Revolving Loan Exposure of that Lender by (y) the aggregate Revolving Loan Exposure of all
Lenders, and (ii) for all other purposes with respect to each Lender, the percentage obtained by dividing (x) the Revolving Loan Exposure of that Lender by (y) the aggregate Revolving Loan Exposure of all Lenders, in any
such case as the applicable percentage may be adjusted by assignments permitted pursuant to subsection 10.1. The initial Pro Rata Share of each Lender for purposes of each of clauses (i) and (ii) of the preceding sentence is set forth
opposite the name of that Lender in Schedule 2.1 annexed hereto. 
 “Quarterly Statement” means the
quarterly statutory financial statement of any Insurance Subsidiary required to be filed with the insurance commissioner (or similar authority) of its jurisdiction of incorporation or, if no specific form is so required, in the form of financial
statements permitted by such insurance commissioner (or such similar authority) to be used for filing quarterly statutory financial statements and shall contain the type of financial information permitted by such insurance commissioner (or such
similar authority) to be disclosed therein, together with all exhibits or schedules filed therewith. 
 “Refunded
Swing Line Loans” has the meaning assigned to that term in subsection 2.1A(ii). 
  

 15 

 “Register” has the meaning assigned to that term in subsection 2.1D.

 “Regulated Subsidiary” means any Insurance Subsidiary or any other Subsidiary of Company otherwise subject
to specific licensing or regulatory schemes by a Government Authority. 
 “Regulation D” means Regulation D
of the Board of Governors of the Federal Reserve System, as in effect from time to time. 
 “Reimbursement
Date” has the meaning assigned to that term in subsection 3.3B. 
 “Release” means any release,
spill, emission, leaking, pumping, pouring, injection, escaping, deposit, disposal, discharge, dispersal, dumping, leaching or migration of Hazardous Materials into the indoor or outdoor environment (including the abandonment or disposal of any
barrels, containers or other closed receptacles containing any Hazardous Materials), including the movement of any Hazardous Materials through the air, soil, surface water or groundwater. 
 “Request for Issuance” means a request substantially in the form of Exhibit III annexed hereto. 
 “Requisite Lenders” means Lenders having or holding more than 50% of the aggregate Revolving Loan Exposure of all
Lenders; provided that the Commitment of, and the portion of the Total Utilization of Revolving Credit Commitments held or deemed held by, any Defaulting Lender shall be excluded for purposes of making a determination of Requisite Lenders;
provided, further, that at any time at which there are four or more Lenders, then Requisite Lenders must consist of at least three Lenders. 
 “Response Date” is defined in subsection 2.11. 
 “Restricted Junior
Payment” means (i) any dividend or other distribution, direct or indirect, on account of any shares of any class of stock of Company now or hereafter outstanding, except a dividend payable solely in shares of that class of stock to the
holders of that class or an increase in the liquidation value of shares of that class of stock, (ii) any redemption, retirement, sinking fund or similar payment, purchase or other acquisition for value, direct or indirect, of any shares of any
class of stock of Company now or hereafter outstanding, and (iii) any payment made to retire, or to obtain the surrender of, any outstanding warrants, options or other rights to acquire shares of any class of stock of Company now or hereafter
outstanding. 
 “Revolving Loan Commitment” means the commitment of a Lender to make Revolving Loans to
Company pursuant to subsection 2.1A(i), and “Revolving Loan Commitments” means such commitments of all Lenders in the aggregate. 
 “Revolving Loan Commitment Amount” means, at any date, the aggregate amount of the Revolving Loan Commitments of all Lenders. 
  

 16 

 “Revolving Loan Commitment Termination Date” means June 15, 2011,
as such date may be extended in accordance with subsection 2.11. 
 “Revolving Loan Exposure”, with respect
to any Lender, means, as of any date of determination (i) prior to the termination of the Revolving Loan Commitments, the amount of that Lender’s Revolving Loan Commitment, and (ii) after the termination of the Revolving Loan
Commitments, the sum of (a) the aggregate outstanding principal amount of the Revolving Loans of that Lender plus (b) in the event that Lender is an Issuing Lender, the aggregate Letter of Credit Usage in respect of all Letters of
Credit issued by that Lender (in each case net of any participations purchased by other Lenders in such Letters of Credit or in any unreimbursed drawings thereunder) plus (c) the aggregate amount of all participations purchased by that
Lender in any outstanding Letters of Credit or any unreimbursed drawings under any Letters of Credit plus (d) in the case of a Swing Line Lender, the aggregate outstanding principal amount of all Swing Line Loans made by such Swing Line
Lender (net of any assignments thereof deemed purchased by other Lenders) plus (e) the aggregate amount of all assignments deemed purchased by that Lender in any outstanding Swing Line Loans. 
 “Revolving Loans” means the Loans made by Lenders to Company pursuant to subsection 2.1A(i). 
 “Revolving Notes” means any promissory notes of Company issued pursuant to subsection 2.1E to evidence the Revolving
Loans of any Lenders, substantially in the form of Exhibit IV annexed hereto. 
 “S&P” means
Standard & Poor’s Ratings Service, a division of The McGraw-Hill Companies, Inc. 
 “SAP”
means, with respect to any Insurance Subsidiary, the statutory accounting practices prescribed or permitted by the insurance commissioner (or other similar authority) in the jurisdiction of such Person for the preparation of annual statements and
other financial reports by insurance companies of the same type as such Person in effect from time to time, applied in a manner consistent with those used in preparing the financial statements referred to in Section 6.1. 
 “Sarbanes-Oxley” means the Sarbanes-Oxley Act of 2002. 
 “Securities” means any stock, shares, partnership interests, voting trust certificates, certificates of interest or
participation in any profit-sharing agreement or arrangement, options, warrants, bonds, debentures, notes, or other evidences of indebtedness, secured or unsecured, convertible, subordinated, certificated or uncertificated, or otherwise, or in
general any instruments commonly known as “securities” or any certificates of interest, shares or participations in temporary or interim certificates for the purchase or acquisition of, or any right to subscribe to, purchase or
acquire, any of the foregoing. 
 “Securities Act” means the Securities Act of 1933, as amended from time to
time, and any successor statute. 
  

 17 

 “Securities Laws” means the Securities Act, the Exchange Act,
Sarbanes-Oxley and the applicable accounting and auditing principles, rules, standards and practices promulgated, approved or incorporated by the Securities and Exchange Commission or the Public Company Accounting Oversight Board, as each of the
foregoing may be amended and in effect on any applicable date hereunder. 
 “Solvent”, with respect to any
Person, means that as of the date of determination both (i)(a) the then fair saleable value of the property of such Person is (1) greater than the total amount of liabilities (including contingent liabilities) of such Person and (2) not
less than the amount that will be required to pay the probable liabilities on such Person’s then existing debts as they become absolute and due considering all financing alternatives, ordinary operating income and potential asset sales
reasonably available to such Person; (b) such Person’s capital is not unreasonably small in relation to its business or any contemplated or undertaken transaction; and (c) such Person does not intend to incur, or believe (nor should
it reasonably believe) that it will incur, debts beyond its ability to pay such debts as they become due; and (ii) such Person is “solvent” within the meaning given that term and similar terms under applicable laws relating to
fraudulent transfers and conveyances. For purposes of this definition, the amount of any contingent liability at any time shall be computed as the amount that, in light of all of the facts and circumstances existing at such time, represents the
amount that can reasonably be expected to become an actual or matured liability. 
 “Subsidiary”, with
respect to any Person, means any corporation, partnership, trust, limited liability company, association, joint venture or other business entity of which more than 50% of the total voting power of shares of stock or other ownership interests
entitled (without regard to the occurrence of any contingency) to vote in the election of the members of the Governing Body is at the time owned or controlled, directly or indirectly, by that Person or one or more of the other Subsidiaries of that
Person or a combination thereof. 
 “Swing Line Lender” means Wells Fargo, or any Person serving as a
successor Administrative Agent hereunder, or U.S. Bank National Association, in each case in its capacity as a Swing Line Lender hereunder. 
 “Swing Line Loan Commitment” means the commitment of a Swing Line Lender to make Swing Line Loans to Company pursuant to subsection 2.1A(ii). 
 “Swing Line Loans” means the Loans made by a Swing Line Lender to Company pursuant to subsection 2.1A(ii). 
 “Swing Line Note” means any promissory note of Company issued pursuant to subsection 2.1E to evidence the Swing Line
Loans of a Swing Line Lender, substantially in the form of Exhibit V annexed hereto. 
 “Tax” or
“Taxes” means any present or future tax, levy, impost, duty, fee, assessment, deduction, withholding or other charge of any nature and whatever called, by whomsoever, on whomsoever and wherever imposed, levied, collected, withheld
or assessed, including interest, penalties, additions to tax and any similar liabilities with respect thereto. 
  

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 “Total Utilization of Revolving Loan Commitments” means, as at any date
of determination, the sum of (i) the aggregate principal amount of all outstanding Revolving Loans plus (ii) the aggregate principal amount of all outstanding Swing Line Loans plus (iii) the Letter of Credit Usage.

 “Type” means, with respect to a Revolving Loan, its character as a Base Rate Loan or a Eurodollar Rate
Revolving Loan. 
 “UCC” means the Uniform Commercial Code as in effect in any applicable jurisdiction.

 “UCP” is defined in subsection 3.6. 
 “Unasserted Obligations” means, at any time, Obligations for taxes, costs, indemnifications, reimbursements, damages and
other liabilities (except for (i) the principal of and interest on, and fees relating to, any Indebtedness and (ii) contingent reimbursement obligations in respect of amounts that may be drawn under Letters of Credit) in respect of which
no claim or demand for payment has been made (or, in the case of Obligations for indemnification, no notice for indemnification has been issued by the Indemnitee) at such time. 
 “U.S. Bank” means U.S. Bank National Association. 
 “Wells Fargo” has the meaning assigned to that term in the introduction to this Agreement. 
  

	 	1.2	Accounting Terms; Utilization of GAAP for Purposes of Calculations Under Agreement. 

 Except as otherwise expressly provided in this Agreement, all accounting terms not otherwise defined herein shall have the meanings
assigned to them in conformity with GAAP. Financial statements and other information required to be delivered by Company to Lenders pursuant to subsection 6.1 shall be prepared in accordance with GAAP as in effect at the time of such preparation
(and delivered together with the reconciliation statements provided for in subsection 6.1(v)). Calculations in connection with the definitions, covenants and other provisions of this Agreement shall utilize GAAP as in effect on the date of
determination, applied in a manner consistent with that used in preparing the financial statements referred to in subsection 5.3. If at any time any change in GAAP would affect the computation of any financial ratio or requirement set forth in any
Loan Document, and Company, Administrative Agent or Requisite Lenders shall so request, Administrative Agent, Lenders and Company shall negotiate in good faith to amend such ratio or requirement to preserve the original intent thereof in light of
such change in GAAP (subject to the approval of Requisite Lenders), provided that, until so amended, such ratio or requirement shall continue to be computed in accordance with GAAP prior to such change therein and Company shall provide to
Administrative Agent and Lenders reconciliation statements provided for in subsection 6.1(v). For purposes of determining compliance with the financial covenants in Section 7.4 of this Agreement, the application of Financial Accounting
Standards Board Interpretation No. 46 shall be disregarded with respect to financial consolidation of any entity that is required to be included in the consolidated financial statements of Company solely as a result of such application.

  

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	 	1.3	Other Definitional Provisions and Rules of Construction. 

 A. Any of the terms defined herein may, unless the context otherwise requires, be used in the singular or the plural, depending on the reference. 
 B. References to “Sections” and “subsections” shall be to Sections and subsections, respectively, of this
Agreement unless otherwise specifically provided. Section and subsection headings in this Agreement are included herein for convenience of reference only and shall not constitute a part of this Agreement for any other purpose or be given any
substantive effect. 
 C. The use in any of the Loan Documents of the word “include” or
“including”, when following any general statement, term or matter, shall not be construed to limit such statement, term or matter to the specific items or matters set forth immediately following such word or to similar items or matters,
whether or not nonlimiting language (such as “without limitation” or “but not limited to” or words of similar import) is used with reference thereto, but rather shall be deemed to refer to all other items or matters that fall
within the broadest possible scope of such general statement, term or matter. 
 D. Unless otherwise expressly
provided herein, references to Organizational Documents, agreements (including the Loan Documents) and other contractual instruments shall be deemed to include all subsequent amendments, restatements, extensions, supplements and other modifications
thereto, but only to the extent that such amendments, restatements, extensions, supplements and other modifications are not prohibited by any Loan Document. 
  

	Section 2.	AMOUNTS AND TERMS OF LOANS 

  

	 	2.1	Loans; Making of Loans; the Register; Optional Notes. 

 A. Loans. Subject to the terms and conditions of this Agreement and in reliance upon the representations and warranties of Company herein set forth, each Lender hereby severally agrees to make Revolving
Loans as described in subsection 2.1A(i) and each Swing Line Lender hereby agrees to make Swing Line Loans as described in subsection 2.1A(ii). 
 (i) Revolving Loans. Each Lender severally agrees, subject to the limitations set forth below with respect to the maximum amount of Revolving Loans permitted to be outstanding from time to time, to make
revolving loans (each such loan a “Revolving Loan”) to Company from time to time during the period from the Effective Date to but excluding the Revolving Loan Commitment Termination Date in an aggregate amount not exceeding its Pro
Rata Share of the aggregate amount of the Revolving Loan Commitments to be used in accordance with the terms of this Agreement. The original amount of each Lender’s Revolving Loan Commitment is set forth opposite its name on Schedule 2.1
annexed hereto and the original Revolving Loan Commitment Amount is $200,000,000; provided that the amount of the Revolving Loan Commitment of each Lender shall be adjusted to give effect to any assignment of such Revolving Loan Commitment
pursuant to subsection 10.1B and shall be reduced from time to time by the amount of any reductions thereto made pursuant to subsection 2.4. Each Lender’s Revolving Loan Commitment shall expire on the Revolving Loan Commitment 

  

 20 

 
Termination Date and Company hereby agrees that all Revolving Loans and all other Obligations shall be paid in full no later than that date. Amounts borrowed
under this subsection 2.1A(i) may be repaid and reborrowed to but excluding the Revolving Loan Commitment Termination Date. 
 Anything contained in this Agreement to the contrary notwithstanding, the Revolving Loans and the Revolving Loan Commitments shall be subject to the limitation that in no event shall the Total Utilization of Revolving Loan Commitments at
any time exceed the Revolving Loan Commitment Amount then in effect. 
 (ii) Swing Line Loans. 
 (a) General Provisions. Each Swing Line Lender hereby agrees, subject to the limitations set forth in the last paragraph of
subsection 2.1A(ii) and set forth below with respect to the maximum amount of Swing Line Loans permitted to be outstanding from time to time, to make a portion of the Revolving Loan Commitments available to Company from time to time during the
period from the Effective Date to but excluding the Revolving Loan Commitment Termination Date by making Swing Line Loans to Company in an aggregate amount not exceeding the aggregate amount of the Swing Line Loan Commitment to be used for the
purposes identified in subsection 2.5A, notwithstanding the fact that such Swing Line Loans, when aggregated with such Swing Line Lender’s outstanding Revolving Loans and such Swing Line Lender’s Pro Rata Share of the Letter of Credit
Usage then in effect, may exceed such Swing Line Lender’s Revolving Loan Commitment. The original aggregate amount of the Swing Line Loan Commitment for all Swing Line Lenders is $25,000,000; provided that any reduction of the Revolving
Loan Commitment Amount made pursuant to subsection 2.4 that reduces the Revolving Loan Commitment Amount to an amount less than the then current amount of the Swing Line Loan Commitment shall result in an automatic corresponding reduction of the
amount of the Swing Line Loan Commitment to the amount of the Revolving Loan Commitment Amount, as so reduced, without any further action on the part of Company, Administrative Agent or any Swing Line Lender. The Swing Line Loan Commitment shall
expire on the Revolving Loan Commitment Termination Date and all Swing Line Loans and all other amounts owed hereunder with respect to the Swing Line Loans shall be paid in full no later than that date. 
 (b) Swing Line Loan Prepayment with Proceeds of Revolving Loans. With respect to any Swing Line Loans funded by a Swing Line
Lender that have not been voluntarily prepaid by Company pursuant to subsection 2.4A(i), such Swing Line Lender may, at any time in its sole and absolute discretion, deliver to Administrative Agent (with a copy to Company), no later than 12:00 noon
(San Francisco time) on the first Business Day in advance of the proposed Funding Date, a notice requesting Lenders to make Revolving Loans that are Base Rate Loans on such Funding Date in an amount equal to the amount of such Swing Line Loans (the
“Refunded Swing Line Loans”) outstanding on the date such notice is given. Company hereby authorizes the giving of any such notice and the 

  

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making of any such Revolving Loans. Anything contained in this Agreement to the contrary notwithstanding, (1) the proceeds of such Revolving Loans made
by Lenders other than the related Swing Line Lender shall be immediately delivered by Administrative Agent to such Swing Line Lender (and not to Company) and applied to repay a corresponding portion of the Refunded Swing Line Loans and (2) on
the day such Revolving Loans are made, the applicable Swing Line Lender’s Pro Rata Share of the related Refunded Swing Line Loans shall be deemed to be paid with the proceeds of a Revolving Loan made by such Swing Line Lender, and such portion
of the Swing Line Loans deemed to be so paid shall no longer be outstanding as Swing Line Loans and shall no longer be due under the Swing Line Note, if any, of such Swing Line Lender but shall instead constitute part of such Swing Line
Lender’s outstanding Revolving Loans and shall be due under the Revolving Note, if any, of such Swing Line Lender. If any portion of any such amount paid (or deemed to be paid) to a Swing Line Lender should be recovered by or on behalf of
Company from such Swing Line Lender in any bankruptcy proceeding, in any assignment for the benefit of creditors or otherwise, the loss of the amount so recovered shall be ratably shared among all Lenders in the manner contemplated by subsection
10.5. 
 (c) Swing Line Loan Assignments. On the Funding Date of each Swing Line Loan, each Lender shall be deemed to,
and hereby agrees to, purchase an assignment of such Swing Line Loan in an amount equal to its Pro Rata Share. If for any reason (1) Revolving Loans are not made upon the request of a Swing Line Lender as provided in the immediately preceding
paragraph in an amount sufficient to repay any amounts owed to such Swing Line Lender in respect of such Swing Line Loan or (2) the Revolving Loan Commitments are terminated at a time when such Swing Line Loan is outstanding, upon notice from
the applicable Swing Line Lender as provided below, each Lender shall fund the purchase of such assignment in an amount equal to its Pro Rata Share (calculated, in the case of the foregoing clause (2), immediately prior to such termination of the
Revolving Loan Commitments) of the unpaid amount of such Swing Line Loan together with accrued interest thereon. Upon one Business Day’s notice from the applicable Swing Line Lender, each Lender shall deliver to such Swing Line Lender such
amount in same day funds at the Funding and Payment Office. In order to further evidence such assignment (and without prejudice to the effectiveness of the assignment provisions set forth above), each Lender agrees to enter into an Assignment
Agreement at the request of such Swing Line Lender in form and substance reasonably satisfactory to such Swing Line Lender. In the event any Lender fails to make available to such Swing Line Lender any amount as provided in this paragraph, such
Swing Line Lender shall be entitled to recover such amount on demand from such Lender together with interest thereon at the rate customarily used by such Swing Line Lender for the correction of errors among banks for three Business Days and
thereafter at the Base Rate. In the event a Swing Line Lender receives a payment of any amount with respect to which other Lenders have funded the purchase of assignments as provided in this paragraph, such Swing Line Lender shall promptly
distribute to each such other Lender its Pro Rata Share of such payment. 
  

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 (d) Lenders’ Obligations. Anything contained herein to the contrary
notwithstanding, each Lender’s obligation to make Revolving Loans for the purpose of repaying any Refunded Swing Line Loans pursuant to subsection 2.1A(ii)(b) and each Lender’s obligation to purchase an assignment of any unpaid Swing Line
Loans pursuant to the immediately preceding paragraph shall be absolute and unconditional and shall not be affected by any circumstance, including (1) any set-off, counterclaim, recoupment, defense or other right which such Lender may have
against any Swing Line Lender, Company or any other Person for any reason whatsoever; (2) the occurrence or continuation of an Event of Default or a Potential Event of Default; (3) any adverse change in the business, operations,
properties, assets, condition (financial or otherwise) or prospects of Company or any of its Subsidiaries; (4) any breach of this Agreement or any other Loan Document by any party thereto; or (5) any other circumstance, happening or event
whatsoever, whether or not similar to any of the foregoing; provided that such obligations of each Lender are subject to the condition that (x) the applicable Swing Line Lender believed in good faith that all conditions under
Section 4 to the making of the applicable Refunded Swing Line Loans or other unpaid Swing Line Loans, as the case may be, were satisfied at the time such Refunded Swing Line Loans or unpaid Swing Line Loans were made or (y) the
satisfaction of any such condition not satisfied had been waived in accordance with subsection 10.6 prior to or at the time such Refunded Swing Line Loans or other unpaid Swing Line Loans were made. 
 B. Borrowing Mechanics. Revolving Loans made on any Funding Date (other than Swing Line Loans, Revolving Loans made pursuant
to a request by a Swing Line Lender pursuant to subsection 2.1A(ii) or Revolving Loans made pursuant to subsection 3.3B) shall be in an aggregate minimum amount of $5,000,000 and multiples of $1,000,000 in excess of that amount. Swing Line Loans
made on any Funding Date shall be in an aggregate minimum amount of $500,000 and multiples of $100,000 in excess of that amount. Whenever Company desires that Lenders make Revolving Loans it shall deliver to Administrative Agent a duly executed
Notice of Revolving Borrowing no later than 11:00 A.M. (San Francisco time) at least three Business Days in advance of the proposed Funding Date (in the case of a Eurodollar Rate Loan) or at least one Business Day in advance of the proposed Funding
Date (in the case of a Base Rate Loan). Whenever Company desires that a Swing Line Lender make a Swing Line Loan, it shall deliver to Administrative Agent a duly executed Notice of Revolving Borrowing identifying such Swing Line Lender no later than
11:00 A.M. (San Francisco time) on the proposed Funding Date. Revolving Loans may be continued as or converted into Base Rate Loans and Eurodollar Rate Loans in the manner provided in subsection 2.2D. In lieu of delivering a Notice of Revolving
Borrowing, Company, through an Officer of Company authorized in a writing previously delivered to Administrative Agent, may give Administrative Agent telephonic notice by the required time of any proposed borrowing under this subsection 2.1B;
provided that such notice shall be promptly confirmed in writing by delivery of a duly executed Notice of Revolving Borrowing to Administrative Agent on or before the applicable Funding Date. 
 Neither Administrative Agent nor any Lender shall incur any liability to Company in acting upon any telephonic notice referred to above
that Administrative Agent believes in 

  

 23 

 
good faith to have been given by an Officer or other person authorized to borrow on behalf of Company or for otherwise acting in good faith under this
subsection 2.1B or under subsection 2.2D, and upon funding of Loans by Lenders, and upon conversion or continuation of the applicable basis for determining the interest rate with respect to any Loans pursuant to subsection 2.2D, in each case in
accordance with this Agreement, pursuant to any such telephonic notice Company shall have effected Loans or a conversion or continuation, as the case may be, hereunder. 
 Company shall notify Administrative Agent prior to the funding of any Revolving Loans in the event that any of the matters to which
Company is required to certify in the applicable Notice of Revolving Borrowing is no longer true and correct as of the applicable Funding Date, and the acceptance by Company of the proceeds of any Revolving Loans shall constitute a re-certification
by Company, as of the applicable Funding Date, as to the matters to which Company is required to certify in the applicable Notice of Revolving Borrowing. 
 Except as otherwise provided in subsections 2.6B, 2.6C and 2.6G, a Notice of Revolving Borrowing for, or a Notice of Conversion/Continuation for conversion to, or continuation of, a Eurodollar Rate Loan (or telephonic
notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and Company shall be bound to make a borrowing or to effect a conversion or continuation in accordance therewith. 
 C. Disbursement of Funds. All Revolving Loans shall be made by Lenders simultaneously and proportionately to their
respective Pro Rata Shares, it being understood that neither Administrative Agent nor any Lender shall be responsible for any default by any other Lender in that other Lender’s obligation to make a Revolving Loan requested hereunder nor shall
the amount of the Commitment of any Lender to make the particular Type of Loan requested be increased or decreased as a result of a default by any other Lender in that other Lender’s obligation to make a Revolving Loan requested hereunder.
Promptly after receipt by Administrative Agent of a Notice of Revolving Borrowing pursuant to subsection 2.1A (or telephonic notice in lieu thereof), Administrative Agent shall notify each Lender for that Type of Loan or the applicable Swing Line
Lender, as the case may be, of the proposed borrowing. Each such Lender (other than the Swing Line Lender making such Swing Line Loan) shall make the amount of its Revolving Loan available to Administrative Agent not later than 1:00 P.M. (San
Francisco time) on the applicable Funding Date, and the applicable Swing Line Lender shall make the amount of its Swing Line Loan available to Administrative Agent not later than 3:00 P.M. (San Francisco time) on the applicable Funding Date, in each
case in same day funds in Dollars, at the Funding and Payment Office; provided, that when U.S. Bank is the Swing Line Lender it may provide such funds directly to Company. Except as provided in subsection 2.1A(ii) and subsection 3.3B with
respect to Revolving Loans used to repay Refunded Swing Line Loans or to reimburse any Issuing Lender for the amount of a drawing under a Letter of Credit issued by it, upon satisfaction or waiver of the conditions precedent specified in subsections
4.1 and 4.2, Administrative Agent shall make the proceeds of such Loans available to Company on the applicable Funding Date by causing an amount of same day funds in Dollars equal to the proceeds of all such Loans received by Administrative Agent
from Lenders to be credited to the account of Company at the Funding and Payment Office. 
  

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 Unless Administrative Agent shall have been notified by any Lender prior to a Funding
Date that such Lender does not intend to make available to Administrative Agent the amount of such Lender’s Revolving Loan requested on such Funding Date, Administrative Agent may assume that such Lender has made such amount available to
Administrative Agent on such Funding Date and Administrative Agent may, in its sole discretion, but shall not be obligated to, make available to Company a corresponding amount on such Funding Date. If such corresponding amount is not in fact made
available to Administrative Agent by such Lender, Administrative Agent shall be entitled to recover such corresponding amount on demand from such Lender together with interest thereon, for each day from such Funding Date until the date such amount
is paid to Administrative Agent, at the customary rate set by Administrative Agent for the correction of errors among banks for three Business Days and thereafter at the Base Rate. If such Lender does not pay such corresponding amount forthwith upon
Administrative Agent’s demand therefor, Administrative Agent shall promptly notify Company and Company shall immediately pay such corresponding amount to Administrative Agent together with interest thereon, for each day from such Funding Date
until the date such amount is paid to Administrative Agent, at the rate payable under this Agreement for Base Rate Loans. Nothing in this subsection 2.1C shall be deemed to relieve any Lender from its obligation to fulfill its Commitments hereunder
or to prejudice any rights that Company may have against any Lender as a result of any default by such Lender hereunder. 
 D. The Register. Administrative Agent, acting for these purposes solely as an agent of Company (it being acknowledged that Administrative Agent, in such capacity, and its officers, directors, employees, agent and affiliates
shall constitute Indemnitees under subsection 10.3), shall maintain (and make available for inspection by Company and by each Lender, but only as to information regarding the Loans made by such Lender, upon reasonable prior notice at reasonable
times) at its address referred to in subsection 10.8 a register for the recordation of, and shall record, the names and addresses of Lenders and the respective amounts of the Revolving Loan Commitment, Swing Line Loan Commitment, Revolving Loans and
Swing Line Loans of each Lender from time to time (the “Register”). Company, Administrative Agent and Lenders shall deem and treat the Persons listed as Lenders in the Register as the holders and owners of the corresponding
Commitments and Loans listed therein for all purposes hereof; all amounts owed with respect to any Commitment or Loan shall be owed to the Lender listed in the Register as the owner thereof; and any request, authority or consent of any Person who,
at the time of making such request or giving such authority or consent, is listed in the Register as a Lender shall be conclusive and binding on any subsequent holder, assignee or transferee of the corresponding Commitments or Loans. Each Lender
shall record on its internal records the amount of its Loans and Commitments and each payment in respect hereof, and any such recordation shall be conclusive and binding on Company, absent manifest error, subject to the entries in the Register,
which shall, absent manifest error, govern in the event of any inconsistency with any Lender’s records. Failure to make any recordation in the Register or in any Lender’s records, or any error in such recordation, shall not affect any
Loans or Commitments or any Obligations in respect of any Loans. 
 E. Optional Notes. If so requested by any
Lender by written notice to Company (with a copy to Administrative Agent) at least two Business Days prior to the Closing Date or at any time thereafter, Company shall execute and deliver to such Lender (and/or, if applicable and if so specified in
such notice, to any Person who is an assignee of such Lender 

  

 25 

 
pursuant to subsection 10.1) on the Closing Date (or, if such notice is delivered after the Closing Date, promptly after Company’s receipt of such
notice) a promissory note or promissory notes to evidence such Lender’s Revolving Loans or Swing Line Loans, substantially in the form of Exhibit IV or Exhibit V annexed hereto, respectively, with appropriate insertions.

  

	 	2.2	Interest on the Loans. 

 A. Rate of Interest. Subject to the provisions of subsections 2.6 and 2.7, each Revolving Loan shall bear interest on the unpaid principal amount thereof from the date made through maturity (whether by acceleration or
otherwise) at a rate determined by reference to the Base Rate or the Eurodollar Rate. Subject to the provisions of subsection 2.7, each Swing Line Loan shall bear interest on the unpaid principal amount thereof from the date made through maturity
(whether by acceleration or otherwise) at a rate determined by reference to the Base Rate or as otherwise set forth in clause (ii) below. The applicable basis for determining the rate of interest with respect to any Revolving Loan shall be
selected by Company initially at the time a Notice of Revolving Borrowing is given with respect to such Loan pursuant to subsection 2.1B, and the basis for determining the interest rate with respect to any Revolving Loan may be changed from time to
time pursuant to subsection 2.2D. If on any day a Revolving Loan is outstanding with respect to which notice has not been delivered to Administrative Agent in accordance with the terms of this Agreement specifying the applicable basis for
determining the rate of interest, then for that day that Loan shall bear interest determined by reference to the Base Rate. 
 (i) Subject to the provisions of subsections 2.2E, 2.2G and 2.7, the Revolving Loans shall bear interest through maturity as follows: 
 (a) if a Base Rate Loan, then at the Base Rate; or 
 (b) if a Eurodollar Rate Loan, then at
the sum of the Eurodollar Rate plus the Eurodollar Rate Margin. 
 (ii) Subject to the provisions of subsections 2.2E,
2.2G and 2.7, the Swing Line Loans shall bear interest through maturity at the Base Rate (or such other interest rate agreed to between the applicable Swing Line Lender and Company with respect to any Swing Line Loans). 
 B. Interest Periods. In connection with each Eurodollar Rate Loan, Company may, pursuant to the applicable Notice of
Revolving Borrowing or Notice of Conversion/Continuation, as the case may be, select an interest period (each an “Interest Period”) to be applicable to such Loan, which Interest Period shall be, at Company’s option, the period
commencing on the date such Eurodollar Rate Revolving Loan is disbursed or converted to or continued as a Eurodollar Rate Revolving Loan and ending on the date one, two, three or six months thereafter, as selected by Company in its Notice of
Revolving Borrowing or nine or twelve months if requested by Company and available to all the Lenders; provided that: 
 (i) the initial Interest Period for any Eurodollar Rate Loan shall commence on the Funding Date in respect of such Loan, in the case of a Loan initially made as a Eurodollar Rate Loan, or on the date specified in the applicable Notice of
Conversion/Continuation, in the case of a Loan converted to a Eurodollar Rate Revolving Loan; 
  

 26 

 (ii) in the case of immediately successive Interest Periods applicable to a Eurodollar
Rate Loan continued as such pursuant to a Notice of Conversion/Continuation, each successive Interest Period shall commence on the day on which the next preceding Interest Period expires; 
 (iii) if an Interest Period would otherwise expire on a day that is not a Business Day, such Interest Period shall expire on the next
succeeding Business Day; provided that, if any Interest Period would otherwise expire on a day that is not a Business Day but is a day of the month after which no further Business Day occurs in such month, such Interest Period shall expire on
the next preceding Business Day; 
 (iv) any Interest Period that begins on the last Business Day of a calendar month (or on a
day for which there is no numerically corresponding day in the calendar month at the end of such Interest Period) shall, subject to clause (v) of this subsection 2.2B, end on the last Business Day of a calendar month; 
 (v) no Interest Period with respect to any portion of the Revolving Loans shall extend beyond the Revolving Loan Commitment Termination
Date; 
 (vi) there shall be no more than six Interest Periods outstanding at any time; and 
 (vii) in the event Company fails to specify an Interest Period for any Eurodollar Rate Loan in the applicable Notice of Revolving
Borrowing or Notice of Conversion/Continuation, Company shall be deemed to have selected an Interest Period of one month. 
 C. Interest Payments. Subject to the provisions of subsection 2.2E, interest on each Loan shall be payable in arrears on and to each Interest Payment Date applicable to that Loan, upon any prepayment of that Loan (to the
extent accrued on the amount being prepaid) and at maturity (including final maturity); provided that, in the event any Swing Line Loans or any Revolving Loans that are Base Rate Loans are prepaid pursuant to subsection 2.4A(i), interest
accrued on such Loans through the date of such prepayment shall be payable on the next succeeding Interest Payment Date applicable to Base Rate Loans (or, if earlier, at final maturity). 
 D. Conversion or Continuation. Subject to the provisions of subsection 2.6, Company shall have the option (i) to
convert at any time all or any part of its outstanding Revolving Loans equal to $1,000,000 and multiples of $100,000 in excess of that amount from Loans bearing interest at a rate determined by reference to one basis to Loans bearing interest at a
rate determined by reference to an alternative basis or (ii) upon the expiration of any Interest Period applicable to a Eurodollar Rate Revolving Loan, to continue all or any portion of such Loan equal to $1,000,000 and multiples of $100,000 in
excess of that amount as a Eurodollar Rate Revolving Loan; provided, however, that a Eurodollar Rate Revolving Loan may only be converted into a Base Rate Loan on the expiration date of an Interest Period applicable thereto.

  

 27 

 Company shall deliver a duly executed Notice of Conversion/Continuation to Administrative
Agent no later than 11:00 A.M. (San Francisco time) at least one Business Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and at least three Business Days in advance of the proposed
conversion/continuation date (in the case of a conversion to, or a continuation of, a Eurodollar Rate Revolving Loan). In lieu of delivering a Notice of Conversion/Continuation, Company may give Administrative Agent telephonic notice by the required
time of any proposed conversion/continuation under this subsection 2.2D; provided that such notice shall be promptly confirmed in writing by delivery of a duly executed Notice of Conversion/Continuation to Administrative Agent on or before
the proposed conversion/continuation date. Administrative Agent shall notify each Lender of any Loan subject to a Notice of Conversion/Continuation. 
 E. Default Rate. Upon the occurrence and during the continuation of any Event of Default, the outstanding principal amount of all Loans and, to the extent permitted by applicable law, any interest
payments thereon not paid when due and any fees and other amounts then due and payable hereunder, shall thereafter bear interest (including post-petition interest in any proceeding under the Bankruptcy Code or other applicable bankruptcy laws)
payable upon demand by Administrative Agent at a rate that is 2% per annum in excess of the interest rate otherwise payable under this Agreement with respect to the applicable Loans (or, in the case of any such fees and other amounts, at a rate
which is 2% per annum in excess of the interest rate otherwise payable under this Agreement for Base Rate Loans); provided that, in the case of Eurodollar Rate Loans, upon the expiration of the Interest Period in effect at the time any
such increase in interest rate is effective such Eurodollar Rate Loans shall thereupon become Base Rate Loans and shall thereafter bear interest payable upon demand at a rate which is 2% per annum in excess of the interest rate otherwise
payable under this Agreement for Base Rate Loans. Payment or acceptance of the increased rates of interest provided for in this subsection 2.2E is not a permitted alternative to timely payment and shall not constitute a waiver of any Event of
Default or otherwise prejudice or limit any rights or remedies of Administrative Agent or any Lender. 
 F.
Computation of Interest. Interest on the Loans shall be computed on the basis of a 365-day year (or a 366-day year in case of a leap year) with respect to Base Rate Loans bearing interest based on the Prime Rate and otherwise a 360-day year,
in each case for the actual number of days elapsed in the period during which it accrues. In computing interest on any Loan, the date of the making of such Loan or the first day of an Interest Period applicable to such Loan or, with respect to a
Base Rate Loan being converted from a Eurodollar Rate Revolving Loan, the date of conversion of such Eurodollar Rate Revolving Loan to such Base Rate Loan, as the case may be, shall be included, and the date of payment of such Loan or the expiration
date of an Interest Period applicable to such Loan or, with respect to a Base Rate Loan being converted to a Eurodollar Rate Revolving Loan, the date of conversion of such Base Rate Loan to such Eurodollar Rate Loan, as the case may be, shall be
excluded; provided that if a Loan is repaid on the same day on which it is made, one day’s interest shall be paid on that Loan. 
 G. Maximum Rate. Notwithstanding the foregoing provisions of this subsection 2.2, in no event shall the rate of interest payable by Company with respect to any Loan exceed the maximum rate of interest
permitted to be charged under applicable law. 
  

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	 	2.3	Fees. 

 A.
Facility Fee. Company shall pay to the Administrative Agent for the account of each Lender in accordance with its Pro Rata Share, a facility fee equal to the Applicable Margin times the actual daily amount of the Revolving Loan
Commitment Amount (or, if the Revolving Loan Commitment Amount has terminated, on the Total Utilization of Revolving Loan Commitments), regardless of usage. The facility fee shall accrue at all times from the Closing Date to the Revolving Loan
Commitment Termination Date (and thereafter so long as any Loans or Letter of Credit Usage remain outstanding), including at any time during which one or more of the conditions in subsection 4.2 is not met, and shall be due and payable in arrears on
and to (but excluding) the last Business Day of each March, June, September and December of each year and on the Revolving Loan Commitment Termination Date (and, if applicable, thereafter on demand). The facility fee and utilization fee referred to
in subsection 2.3B shall be calculated quarterly in arrears, and if there is any change in the Applicable Margin during any quarter, the actual daily amount shall be computed and multiplied by the Applicable Margin separately for each period during
such quarter that such Applicable Margin was in effect. 
 B. Utilization Fee. Company agrees to pay to the
Administrative Agent for the pro rata account of each Lender, in accordance with such Lender’s Loans, a utilization fee for each quarter during which the average daily Total Utilization of Revolving Loan Commitments for such quarter is
greater than 50% of the Revolving Loan Commitment Amount. The utilization fee shall accrue at all such times, including at any time during which one or more of the conditions in subsection 4.2 is not met. If applicable, such utilization fee shall be
equal to the Applicable Margin times the average daily Total Utilization of Revolving Loan Commitments during such quarter, due and payable in arrears on the last Business Day of each March, June, September and December of each year and on
the Revolving Loan Commitment Termination Date (and, if applicable, thereafter on demand). 
 C. Other Fees.
Company agrees to pay to Administrative Agent such fees in the amounts and at the times separately agreed upon between Company and Administrative Agent. 
  

	 	2.4	Repayments, Prepayments and Reductions of Revolving Loan Commitment Amount; General Provisions Regarding Payments. 

 A. Prepayments and Reductions in Revolving Loan Commitment Amount. 
 (i) Voluntary Prepayments. Company may, upon written or telephonic notice to Administrative Agent on or prior to 12:00 noon (San
Francisco time) on the date of prepayment, which notice, if telephonic, shall be promptly confirmed in writing, at any time and from time to time prepay, without premium or penalty, any Swing Line Loan on any Business Day in whole or in part in an
aggregate minimum amount of $500,000 and multiples of $100,000 in excess of that amount. Company may, upon not less than one Business Day’s prior written or telephonic notice, in the case of Base Rate Loans, and three Business Days’ prior
written or telephonic notice, in the case of Eurodollar Rate Loans, in each case given to Administrative Agent by 12:00 noon (San Francisco time) 

  

 29 

 
on the date required and, if given by telephone, promptly confirmed in writing to Administrative Agent, who will promptly notify each Lender whose Loans are
to be prepaid of such prepayment, at any time and from time to time prepay, without premium or penalty, any Revolving Loans on any Business Day in whole or in part in an aggregate minimum amount of $5,000,000 and multiples of $1,000,000 in excess of
that amount. Notice of prepayment having been given as aforesaid, the principal amount of the Loans specified in such notice shall become due and payable on the prepayment date specified therein. Any such voluntary prepayment shall be applied as
specified in subsection 2.4A(iv) and, in the case of Eurodollar Rate Loans, shall be subject to subsection 2.6D. 
 (ii)
Voluntary Reductions of Revolving Loan Commitments. Company may, upon not less than three Business Days’ prior written or telephonic notice confirmed in writing to Administrative Agent, or upon such lesser number of days’ prior
written or telephonic notice, as determined by Administrative Agent in its sole discretion, at any time and from time to time, terminate in whole or permanently reduce in part, without premium or penalty, the Revolving Loan Commitment Amount in an
amount up to the amount by which the Revolving Loan Commitment Amount exceeds the Total Utilization of Revolving Loan Commitments at the time of such proposed termination or reduction; provided that any such partial reduction of the Revolving
Loan Commitment Amount shall be in an aggregate minimum amount of $5,000,000 and multiples of $5,000,000 in excess of that amount. Company’s notice to Administrative Agent (who will promptly notify each Lender of such notice) shall designate
the date (which shall be a Business Day) of such termination or reduction and the amount of any partial reduction, and such termination or reduction shall be effective on the date specified in Company’s notice and shall reduce the amount of the
Revolving Loan Commitment of each Lender proportionately to its Pro Rata Share. Any such voluntary reduction of the Revolving Loan Commitment Amount shall be applied as specified in subsection 2.4A(iv). 
 (iii) Mandatory Prepayments Due to Reductions of Revolving Loan Commitment Amount. Company shall from time to time prepay
first the Swing Line Loans and second the Revolving Loans (and, after prepaying all Loans, Cash collateralize any outstanding Letters of Credit by depositing the requisite amount with the Issuing Lender) to the extent necessary so that
the Total Utilization of Revolving Loan Commitments shall not at any time exceed the Revolving Loan Commitment Amount then in effect. At such time as the Total Utilization of Revolving Loan Commitments shall be equal to or less than the Revolving
Loan Commitment Amount if no Event of Default has occurred and is continuing, to the extent any Cash collateral was provided by Company and has not been applied to any Obligations, such amount shall be released to Company. 
 (iv) Application of Prepayments. 
 (a) Application of Voluntary Prepayments and Order of Maturity. Any voluntary prepayments pursuant to subsection 2.4A(i) shall be applied as specified by Company in the applicable notice of prepayment;
provided that in the event Company fails to specify the Loans to which any such prepayment shall be applied, such prepayment shall be applied first to repay outstanding Swing Line 

  

 30 

 
Loans to the full extent thereof, and second to repay outstanding Revolving Loans to the full extent thereof. 
 (b) Application of Mandatory Prepayments. Any mandatory reduction of the Revolving Loan Commitment Amount pursuant to this
subsection 2.4A shall be in proportion to each Lender’s Pro Rata Share. 
 (c) Application of Prepayments to Base
Rate Loans and Eurodollar Rate Loans. Considering Revolving Loans being prepaid separately, any prepayment thereof shall be applied first to Base Rate Loans to the full extent thereof before application to Eurodollar Rate Loans, in each case in
a manner that minimizes the amount of any payments required to be made by Company pursuant to subsection 2.6D. 
 B.
General Provisions Regarding Payments. 
 (i) Manner and Time of Payment. All payments by Company of principal,
interest, fees and other Obligations shall be made in Dollars in same day funds, without defense, setoff or counterclaim, free of any restriction or condition, and delivered to Administrative Agent not later than 12:00 noon (San Francisco time) on
the date due at the Funding and Payment Office for the account of Lenders (provided, that at any time that no Event of Default has occurred and is continuing, Company may make payments directly to U.S. Bank in respect of Swing Loan Loans made by
U.S. Bank to Company); funds received by Administrative Agent after that time on such due date shall be deemed to have been paid by Company on the next succeeding Business Day. 
 (ii) Application of Payments to Principal and Interest. Except as provided in subsection 2.2C, all payments in respect of the
principal amount of any Loan shall include payment of accrued interest on the principal amount being repaid or prepaid, and all such payments shall be applied to the payment of interest before application to principal. 
 (iii) Apportionment of Payments. Aggregate payments of principal and interest shall be apportioned among all outstanding Loans to
which such payments relate, in each case proportionately to Lenders’ respective Pro Rata Shares. Administrative Agent shall promptly distribute to each Lender, at the account specified in the payment instructions delivered to Administrative
Agent by such Lender, its Pro Rata Share of all such payments received by Administrative Agent and fees of such Lender, if any, when received by Administrative Agent pursuant to subsections 2.3 and 3.2. Notwithstanding the foregoing provisions of
this subsection 2.4B(iii), if, pursuant to the provisions of subsection 2.6C, any Notice of Conversion/Continuation is withdrawn as to any Affected Lender or if any Affected Lender makes Base Rate Loans in lieu of its Pro Rata Share of any
Eurodollar Rate Revolving Loans, Administrative Agent shall give effect thereto in apportioning interest payments received thereafter. 
 (iv) Payments on Business Days. Whenever any payment to be made hereunder shall be stated to be due on a day that is not a Business Day, such payment 

  

 31 

 
shall be made on the next succeeding Business Day and such extension of time shall be included in the computation of the payment of interest hereunder or of
the commitment fees hereunder, as the case may be. 
 C. Payments after Event of Default. Upon the occurrence
and during the continuation of an Event of Default, if requested by Requisite Lenders, or upon acceleration of the Obligations pursuant to Section 8, all payments received by Administrative Agent, whether from Company or otherwise may, in the
discretion of Administrative Agent, be held by Administrative Agent, and/or (then or at any time thereafter) shall be applied in full or in part by Administrative Agent, in each case in the following order of priority: 
 (i) to the payment of all amounts for which Administrative Agent is entitled to compensation (including the fees described in subsection
2.3C), reimbursement and indemnification under any Loan Document and all advances made by Administrative Agent thereunder for the account of Company, and to the payment of all costs and expenses paid or incurred by Administrative Agent in connection
with the Loan Documents, all in accordance with subsections 9.4, 10.2 and 10.3 and the other terms of this Agreement and the Loan Documents; 
 (ii) thereafter, to the payment of all other Obligations for the ratable benefit of the holders thereof (subject to the provisions of subsection 2.4B(ii) hereof); and 
 (iii) thereafter, to the payment to or upon the order of Company or to whosoever may be lawfully entitled to receive the same or as a
court of competent jurisdiction may direct. 
  

	 	2.5	Use of Proceeds. 

 A.
Loans. The proceeds of any Loans may be applied by Company for working capital or any other general corporate purposes. 
 B. Margin Regulations. No portion of the proceeds of any borrowing under this Agreement shall be used by Company or any of its Subsidiaries in any manner that might cause the borrowing or the application of such proceeds to
violate Regulation U, Regulation T or Regulation X of the Board of Governors of the Federal Reserve System or any other regulation of such Board or to violate the Exchange Act, in each case as in effect on the date or dates of such borrowing and
such use of proceeds. 
  

	 	2.6	Special Provisions Governing Eurodollar Rate Loans. 

 Notwithstanding any other provision of this Agreement to the contrary, the following provisions shall govern with respect to Eurodollar Rate Loans as to the matters covered: 
 A. Determination of Applicable Interest Rate. On each Interest Rate Determination Date, Administrative Agent shall determine
in accordance with the terms of this Agreement (which determination shall, absent manifest error, be conclusive and binding upon all parties) the interest rate that shall apply to the Eurodollar Rate Revolving Loans for which an 

  

 32 

 
interest rate is then being determined for the applicable Interest Period and shall promptly give notice thereof (in writing or by telephone confirmed in
writing) to Company and each applicable Lender. 
 B. Inability to Determine Applicable Interest Rate. In the
event that Administrative Agent shall have determined (which determination shall be conclusive and binding upon all parties hereto), on any Interest Rate Determination Date that by reason of circumstances affecting the interbank Eurodollar market
adequate and fair means do not exist for ascertaining the interest rate applicable to such Loans on the basis provided for in the definition of Eurodollar Rate, Administrative Agent shall on such date give notice (by telefacsimile or by telephone
confirmed in writing) to Company and each Lender of such determination, whereupon (i) no Loans may be made as, or converted to, Eurodollar Rate Revolving Loans until such time as Administrative Agent notifies Company and Lenders that the
circumstances giving rise to such notice no longer exist and (ii) any Notice of Revolving Borrowing or Notice of Conversion/Continuation given by Company with respect to the Loans in respect of which such determination was made shall be deemed
to be for a Base Rate Loan. 
 C. Illegality or Impracticability of Eurodollar Rate Loans. In the event that on
any date any Lender shall have determined (which determination shall be conclusive and binding upon all parties hereto but shall be made only after consultation with Company and Administrative Agent) that the making, maintaining or continuation of
its Eurodollar Rate Loans (i) has become unlawful as a result of compliance by such Lender in good faith with any law, treaty, governmental rule, regulation, guideline or order (or would conflict with any such treaty, governmental rule,
regulation, guideline or order not having the force of law even though the failure to comply therewith would not be unlawful) or (ii) has become impracticable, or would cause such Lender material hardship, as a result of contingencies occurring
after the date of this Agreement which materially and adversely affect the interbank Eurodollar market or the position of such Lender in that market, then, and in any such event, such Lender shall be an “Affected Lender” and it
shall on that day give notice (by telefacsimile or by telephone confirmed in writing) to Company and Administrative Agent of such determination. Administrative Agent shall promptly notify each other Lender of the receipt of such notice. Thereafter
(a) the obligation of the Affected Lender to make Loans as, or to convert Loans to, Eurodollar Rate Revolving Loans shall be suspended until such notice shall be withdrawn by the Affected Lender, (b) to the extent such determination by the
Affected Lender relates to a Eurodollar Rate Loan then being requested by Company pursuant to a Notice of Revolving Borrowing or a Notice of Conversion/Continuation, the Affected Lender shall make such Loan as (or convert such Loan to, as the case
may be) a Base Rate Loan, (c) the Affected Lender’s obligation to maintain its outstanding Eurodollar Rate Loans (the “Affected Loans”) shall be terminated at the earlier to occur of the expiration of the Interest Period
then in effect with respect to the Affected Loans or when required by law, and (d) the Affected Loans shall automatically convert into Base Rate Loans on the date of such termination. Notwithstanding the foregoing, to the extent a determination
by an Affected Lender as described above relates to a Eurodollar Rate Loan then being requested by Company pursuant to a Notice of Revolving Borrowing or a Notice of Conversion/Continuation, Company shall have the option, subject to the provisions
of subsection 2.6D, to rescind such Notice of Revolving Borrowing or Notice of Conversion/Continuation as to all Lenders by giving notice (by telefacsimile or by telephone confirmed in writing) to Administrative Agent of such rescission on the date
on which the Affected Lender gives notice 

  

 33 

 
of its determination as described above. Administrative Agent shall promptly notify each other Lender of the receipt of such notice. Except as provided in
the immediately preceding sentence, nothing in this subsection 2.6C shall affect the obligation of any Lender other than an Affected Lender to make or maintain Loans as, or to convert Loans to, Eurodollar Rate Loans in accordance with the terms of
this Agreement. 
 D. Compensation For Breakage or Non-Commencement of Interest Periods. Company shall
compensate each Lender, upon written request by that Lender pursuant to subsection 2.8A, for all reasonable losses, expenses and liabilities (including any interest paid by that Lender to lenders of funds borrowed by it to make or carry its
Eurodollar Rate Loans and any loss, expense or liability sustained by that Lender in connection with the liquidation or re-employment of such funds) which that Lender may sustain: (i) if for any reason (other than a default by that Lender) a
borrowing of any Eurodollar Rate Loan does not occur on a date specified therefor in a Notice of Revolving Borrowing or a telephonic request therefor, or a conversion to or continuation of any Eurodollar Rate Loan does not occur on a date specified
therefor in a Notice of Conversion/Continuation or a telephonic request therefor, (ii) if any prepayment or other principal payment or any conversion of any of its Eurodollar Rate Loans (including any prepayment or conversion occasioned by the
circumstances described in subsection 2.6C) occurs on a date prior to the last day of an Interest Period applicable to that Loan, (iii) if any prepayment of any of its Eurodollar Rate Loans is not made on any date specified in a notice of
prepayment given by Company, or (iv) as a consequence of any other default by Company in the repayment of its Eurodollar Rate Loans on a date prior to the last day of the Interest Period therefor. Breakage cost loss shall consist of an amount
equal to the excess, if a positive number, of (i) the amount of interest that would have accrued on the amount so prepaid, or not so borrowed, converted or continued, for the period from the date of such prepayment or of such failure to borrow,
convert or continue to the last day of such Interest Period (or, in the case of a failure to borrow, convert or continue, the Interest Period that would have commenced on the date of such failure) in each case at the applicable rate of interest for
such Eurodollar Rate Loans provided for herein (excluding, however, the Eurodollar Rate Margin included therein, if any) over (ii) the amount of interest (as reasonably determined by such Lender) that would have accrued to such Lender on such
amount by placing such amount on deposit for a comparable period with leading banks in the interbank Eurodollar market. 
 E. Booking of Eurodollar Rate Loans. Any Lender may make, carry or transfer Eurodollar Rate Loans at, to, or for the account of any of its branch offices or the office of an Affiliate of that Lender. 
 F. Assumptions Concerning Funding of Eurodollar Rate Loans. Calculation of all amounts payable to a Lender under this
subsection 2.6 and under subsection 2.7A shall be made as though that Lender had funded each of its Eurodollar Rate Loans through the purchase of a Eurodollar deposit bearing interest at the rate obtained pursuant to clause (i) of the
definition of Eurodollar Rate in an amount equal to the amount of such Eurodollar Rate Loan and having a maturity comparable to the relevant Interest Period, whether or not its Eurodollar Rate Loans had been funded in such manner. 
 G. Eurodollar Rate Loans After Default. After the occurrence of and during the continuation of an Event of Default,
(i) Company may not elect to have a Loan be 

  

 34 

 
made or maintained as, or converted to, a Eurodollar Rate Loan after the expiration of any Interest Period then in effect for that Loan and (ii) subject
to the provisions of subsection 2.6D, any Notice of Revolving Borrowing or Notice of Conversion/Continuation given by Company with respect to a requested borrowing or conversion/continuation that has not yet occurred shall be deemed to be for a Base
Rate Loan or, if the conditions to making a Loan set forth in subsection 4.2 cannot then be satisfied, to be rescinded by Company. 
  

	 	2.7	Increased Costs; Taxes; Capital Adequacy. 

 A. Compensation for Increased Costs. Subject to the provisions of subsection 2.7B (which shall be controlling with respect to the matters covered thereby), in the event that any Lender (including any
Issuing Lender) shall determine (which determination shall, absent manifest error, be final and conclusive and binding upon all parties hereto) that any Change in Law: 
 (i) subjects such Lender to any additional Tax of any kind whatsoever with respect to this Agreement or any of its obligations hereunder
(including with respect to issuing or maintaining any Letters of Credit or purchasing or maintaining any participations therein or maintaining any Commitment hereunder) or any payments to such Lender of principal, interest, fees or any other amount
payable hereunder (except for the imposition of, or any change in the rate of, any Excluded Tax payable by such Lender); 
 (ii) imposes, modifies or holds applicable any reserve, special deposit, compulsory loan, insurance charge or similar requirement against assets held by, or deposits or other liabilities in or for the account of, or advances or loans by, or
other credit extended by, or any other acquisition of funds by, any office of such Lender (other than any such reserve or other requirements with respect to Eurodollar Rate Loans that are reflected in the definition of Eurodollar Rate); or

 (iii) imposes any other condition (other than with respect to Taxes) on or affecting such Lender or its obligations
hereunder or the interbank Eurodollar market; 
 and the result of any of the foregoing is to increase the cost to such Lender of agreeing to make, making or
maintaining its Loans or Commitments or agreeing to issue, issuing or maintaining any Letter of Credit or agreeing to purchase, purchasing or maintaining any participation therein or to reduce any amount received or receivable by such Lender with
respect thereto; then, in any such case, Company shall promptly pay to such Lender, upon receipt of the statement referred to in subsection 2.8A, such additional amount or amounts (in the form of an increased rate of, or a different method of
calculating, interest or otherwise as such Lender in its sole discretion may reasonably determine) as may be necessary to compensate such Lender on an after-tax basis for any such increased cost or reduction in amounts received or receivable
hereunder. Company shall not be required to compensate a Lender pursuant to this subsection 2.7A for any increased cost or reduction in respect of a period occurring more than 180 days prior to the date on which such Lender notifies Company of such
Change in Law and such Lender’s intention to claim compensation therefor, except, if the Change in Law giving rise to such increased cost or reduction is retroactive, no such 180 day time limitation shall apply to such period of 

  

 35 

 
retroactivity, so long as such Lender requests compensation within 180 days from the date on which the applicable Government Authority informed Lender of
such Change in Law. 
 B. Taxes. 
 (i) Payments to Be Free and Clear. Any and all payments by or on account of any obligation of Company under this Agreement and the
other Loan Documents shall be made free and clear of, and without any deduction or withholding on account of, any Indemnified Taxes or Other Taxes. 
 (ii) Grossing-up of Payments. If Company or any other Person is required by law to make any deduction or withholding on account of any Tax from any sum paid or payable by Company to Administrative Agent or any
Lender under any of the Loan Documents: 
 (a) Company shall notify Administrative Agent of any such requirement or any
change in any such requirement as soon as Company becomes aware of it; 
 (b) Company shall timely pay any such Tax to the
relevant Government Authority when such Tax is due, in accordance with applicable law; 
 (c) unless such Tax is an Excluded
Tax, the sum payable by Company shall be increased to the extent necessary to ensure that, after making the required deductions (including deductions applicable to additional sums payable under this subsection 2.7B(ii)), Administrative Agent or such
Lender, as the case may be, receives on the due date a net sum equal to the sum it would have received had no such deduction been required or made; and 
 (d) within 30 days after the due date of payment of any Tax which it is required by clause (b) above to pay, Company shall deliver to Administrative Agent the original or a certified copy of an official receipt
or other document satisfactory to the other affected parties to evidence the payment and its remittance to the relevant Government Authority. 
 (iii) Indemnification by Company. Company shall indemnify Administrative Agent and each Lender, within 10 days after the date Administrative Agent or such Lender (as the case may be) makes written demand
therefor, for the full amount of any Indemnified Taxes or Other Taxes (including for the full amount of any Indemnified Taxes or Other Taxes imposed or asserted on or attributable to amounts payable under this subsection 2.7B(iii)) paid by
Administrative Agent or such Lender, as the case may be, and any penalties, interest and reasonable expenses arising therefrom or with respect thereto, whether or not such Indemnified Taxes were correctly or legally imposed or asserted by the
relevant Government Authority. A certificate as to the amount of such payment or liability delivered to Company by a Lender (with a copy to Administrative Agent), or by Administrative Agent on its own behalf or on behalf of a Lender, shall be
conclusive absent manifest error. 
  

 36 

 (iv) Tax Status of Lenders. Unless not legally entitled to do so: 
 (a) any Lender, if requested by Company or Administrative Agent, shall deliver such forms or other documentation prescribed by applicable
law or reasonably requested by Company or Administrative Agent as will enable Company or Administrative Agent to determine whether or not such Lender is subject to backup withholding or information reporting requirements; 
 (b) any Foreign Lender that is entitled to an exemption from or reduction of any Tax with respect to payments hereunder or under any
other Loan Document shall deliver to Company and Administrative Agent, on or prior to the date on which such Foreign Lender becomes a Lender under this Agreement (and from time to time thereafter, as may be necessary in the determination of Company
or Administrative Agent, each in the reasonable exercise of its discretion), such properly completed and duly executed forms or other documentation prescribed by applicable law as will permit such payments to be made without withholding or at a
reduced rate of withholding; 
 (c) without limiting the generality of the foregoing, in the event that Company is resident
for tax purposes in the United States, any Foreign Lender shall deliver to Company and Administrative Agent (in such number of copies as shall be requested by the recipient) on or prior to the date on which such Foreign Lender becomes a Lender under
this Agreement (and from time to time thereafter, as may be necessary in the determination of Company or Administrative Agent, each in the reasonable exercise of its discretion), whichever of the following is applicable: 
 (1) properly completed and duly executed copies of Internal Revenue Service Form W-8BEN claiming eligibility for benefits of an income
tax treaty to which the United States is a party, or 
 (2) properly completed and duly executed copies of Internal Revenue
Service Form W-8ECI, or 
 (3) in the case of a Foreign Lender claiming the benefits of the exemption for “portfolio
interest” under Section 881(c) of the Internal Revenue Code, (A) a duly executed certificate to the effect that such Foreign Lender is not (i) a “bank” within the meaning of Section 881(c)(3)(A) of the Internal
Revenue Code, (ii) a ten-percent shareholder (within the meaning of Section 881(c)(3)(B) of the Internal Revenue Code) of Company or (iii) a controlled foreign corporation described in Section 881(c)(3)(C) of the Internal Revenue
Code and (B) properly completed and duly executed copies of Internal Revenue Service Form W-8BEN, 
  

 37 

 (4) properly completed and duly executed copies of any other form prescribed by
applicable law as a basis for claiming exemption from or a reduction in any Tax, 
 in each case together with such supplementary
documentation as may be prescribed by applicable law to permit Company and Administrative Agent to determine the withholding or deduction required to be made, if any; 
 (d) without limiting the generality of the foregoing, in the event that Company is resident for tax purposes in the United States, any
Foreign Lender that does not act or ceases to act for its own account with respect to any portion of any sums paid or payable to such Lender under any of the Loan Documents (for example, in the case of a typical participation by such Lender) shall
deliver to Administrative Agent and Company (in such number of copies as shall be requested by the recipient), on or prior to the date such Foreign Lender becomes a Lender, or on such later date when such Foreign Lender ceases to act for its own
account with respect to any portion of any such sums paid or payable, and from time to time thereafter, as may be necessary in the determination of Company or Administrative Agent (each in the reasonable exercise of its discretion): 
 (1) duly executed and properly completed copies of the forms and statements required to be provided by such Foreign Lender under clause
(c) of subsection 2.7B(iv), to establish the portion of any such sums paid or payable with respect to which such Lender acts for its own account and may be entitled to an exemption from or a reduction of the applicable Tax, and 
 (2) duly executed and properly completed copies of Internal Revenue Service Form W-8IMY (or any successor forms) properly completed and
duly executed by such Foreign Lender, together with any information, if any, such Foreign Lender chooses to transmit with such form, and any other certificate or statement of exemption required under the Internal Revenue Code or the regulations
thereunder, to establish that such Foreign Lender is not acting for its own account with respect to a portion of any such sums payable to such Foreign Lender; 
 (e) without limiting the generality of the foregoing, in the event that Company is resident for tax purposes in the United States, any
Lender that is not a Foreign Lender and has not otherwise established to the reasonable satisfaction of Company and Administrative Agent that it is an exempt recipient (as defined in section 6049(b)(4) of the Internal Revenue Code and the United
States Treasury Regulations thereunder) shall deliver to Company and Administrative Agent (in such numbers of copies as shall be requested by the recipient) on or prior to the date on which such Lender becomes a Lender under this Agreement (and from
time to time thereafter as prescribed by applicable law or upon the request of Company or Administrative Agent), duly executed and properly completed copies of Internal Revenue Service Form W-9; and 
  

 38 

 (f) without limiting the generality of the foregoing, each Lender hereby agrees, from
time to time after the initial delivery by such Lender of such forms, whenever a lapse in time or change in circumstances renders such forms, certificates or other evidence so delivered obsolete or inaccurate in any material respect, that such
Lender shall promptly (1) deliver to Administrative Agent and Company two original copies of renewals, amendments or additional or successor forms, properly completed and duly executed by such Lender, together with any other certificate or
statement of exemption required in order to confirm or establish that such Lender is entitled to an exemption from or reduction of any Tax with respect to payments to such Lender under the Loan Documents and, if applicable, that such Lender does not
act for its own account with respect to any portion of such payment, or (2) notify Administrative Agent and Company of its inability to deliver any such forms, certificates or other evidence. 
 C. Capital Adequacy Adjustment. If any Lender shall have determined that any Change in Law regarding capital adequacy has or
would have the effect of reducing the rate of return on the capital of such Lender or any corporation controlling such Lender as a consequence of, or with reference to, such Lender’s Loans or Commitments or Letters of Credit or participations
therein or other obligations hereunder with respect to the Loans or the Letters of Credit to a level below that which such Lender or such controlling corporation could have achieved but for such Change in Law (taking into consideration the policies
of such Lender or such controlling corporation with regard to capital adequacy), then from time to time, within ten Business Days after receipt by Company from such Lender of the statement referred to in subsection 2.8A, Company shall pay to such
Lender such additional amount or amounts as will compensate such Lender or such controlling corporation on an after-tax basis for such reduction. Company shall not be required to compensate a Lender pursuant to this subsection 2.7C for any reduction
in respect of a period occurring more than 180 days prior to the date on which such Lender notifies Company of such Change in Law and such Lender’s intention to claim compensation therefor, except, if the Change in Law giving rise to such
reduction is retroactive, no such 180 day time limitation shall apply to such period of retroactivity, so long as such Lender requests compensation within 180 days from the date on which the applicable Government Authority informed such Lender of
such Change in Law. 
  

	 	2.8	Statement of Lenders; Obligation of Lenders and Issuing Lenders to Mitigate. 

 A. Statements. Each Lender claiming compensation or reimbursement pursuant to subsection 2.6D, 2.7 or 2.8B shall deliver to
Company (with a copy to Administrative Agent) a written statement, setting forth in reasonable detail the basis of the calculation of such compensation or reimbursement, which statement shall be conclusive and binding upon all parties hereto absent
manifest error. 
 B. Mitigation. Each Lender and Issuing Lender agrees that, as promptly as practicable after
the officer of such Lender or Issuing Lender responsible for administering the Loans or Letters of Credit of such Lender or Issuing Lender, as the case may be, becomes aware of the occurrence of an event or the existence of a condition that would
cause such Lender to become an Affected Lender or that would entitle such Lender or Issuing Lender to receive 

  

 39 

 
payments under subsection 2.7, it will use reasonable efforts to make, issue, fund or maintain the Commitments of such Lender or the Loans or Letters of
Credit of such Lender or Issuing Lender through another lending or letter of credit office of such Lender or Issuing Lender, if (i) as a result thereof the circumstances which would cause such Lender to be an Affected Lender would cease to
exist or the additional amounts which would otherwise be required to be paid to such Lender or Issuing Lender pursuant to subsection 2.7 would be materially reduced and (ii) as determined by such Lender or Issuing Lender in its sole discretion,
such action would not otherwise be disadvantageous to such Lender or Issuing Lender; provided that such Lender or Issuing Lender will not be obligated to utilize such other lending or letter of credit office pursuant to this subsection 2.8B
unless Company agrees to pay all incremental expenses incurred by such Lender or Issuing Lender as a result of utilizing such other lending or letter of credit office as described above. 
  

	 	2.9	Replacement of a Lender. 

 If
(i) Company receives a statement of amounts due pursuant to subsection 2.8A from a Lender (other than for breakage costs under subsection 2.6D), (ii) a Lender is a Defaulting Lender, (iii) a Lender (a “Non-Consenting
Lender”) refuses to consent to an amendment, modification or waiver of this Agreement that, pursuant to subsection 10.6, requires consent of 100% of the Lenders or 100% of the Lenders with Obligations directly affected or (iv) a Lender
becomes an Affected Lender (any such Lender, a “Subject Lender”), so long as (i) no Event of Default shall have occurred and be continuing and Company has obtained a commitment from another Lender or an Eligible Assignee to
purchase at par the Subject Lender’s Loans and assume the Subject Lender’s Commitments and all other obligations of the Subject Lender hereunder, (ii) such Lender is not an Issuing Lender with respect to any Letters of Credit
outstanding (unless all such Letters of Credit are terminated or arrangements reasonably acceptable to such Issuing Lender (such as a “back-to-back” letter of credit) are made) and (iii), if applicable, the Subject Lender is unwilling to
withdraw the notice delivered to Company pursuant to subsection 2.8 upon 10 days prior written notice to the Subject Lender and Administrative Agent and/or is unwilling to remedy its default upon three days prior written notice to the Subject Lender
and Administrative Agent, Company may require the Subject Lender to assign all of its Loans and Commitments to such other Lender, Lenders, Eligible Assignee or Eligible Assignees pursuant to the provisions of subsection 10.1B; provided that,
prior to or concurrently with such replacement, (1) the Subject Lender shall have received payment in full of all principal, interest, fees and other amounts (including all amounts under subsections 2.6D, 2.7 and/or 2.8B (if applicable))
through such date of replacement and a release from its obligations under the Loan Documents, (2) the processing fee required to be paid by subsection 10.1B(i) shall have been paid to Administrative Agent by Company or the assignee,
(3) all of the requirements for such assignment contained in subsection 10.1B, including, without limitation, the consent of Administrative Agent (if required) and the receipt by Administrative Agent of an executed Assignment Agreement and
other supporting documents, have been fulfilled, and (4) in the event such Subject Lender is a Non-Consenting Lender, each assignee shall consent, at the time of such assignment, to each matter in respect of which such Subject Lender was a
Non-Consenting Lender. 
  

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	 	2.10 	Increase in Commitments. 

 A. Request for Increase. Provided there exists no Potential Event of Default or Event of Default, upon notice to the Administrative Agent (which shall promptly notify the Lenders), Company may from time to time request an increase in
the Revolving Loan Commitment Amount by an amount (for all such requests) not exceeding $100,000,000; provided that (i) the Revolving Loan Commitment Amount may not exceed $300,000,000; and provided further that any such request for an increase
shall be in a minimum amount of $25,000,000 and in multiples of $5,000,000 in excess thereof and (ii) Company may not request more than two increases during any twelve month period. At the time of sending such notice, Company (in consultation
with the Administrative Agent) shall specify the time period within which each Lender is requested to respond (which shall in no event be less than ten Business Days from the date of delivery of such notice to the Lenders). 
 B. Lender Elections to Increase. Each Lender shall notify the Administrative Agent within such time period whether or not it agrees
to increase its Revolving Loan Commitment and, if so, whether by an amount equal to, greater than, or less than its Pro Rata Share of such requested increase. Any Lender not responding within such time period shall be deemed to have declined to
increase its Revolving Loan Commitment. 
 C. Notification by Administrative Agent; Additional Lenders. The
Administrative Agent shall notify Company and each Lender of the Lenders’ responses to each request made hereunder. If the Lenders do not agree to the full amount of a requested increase, subject to the approval of the Administrative Agent and
the Issuing Lender (which approvals shall not be unreasonably withheld), Company may also invite additional Eligible Assignees to become Lenders pursuant to a joinder agreement in form and substance satisfactory to the Administrative Agent and its
counsel. 
 D. Effective Date and Allocations. If the Revolving Loan Commitment Amount is increased in accordance with
this Section, the Administrative Agent and Company shall determine the effective date (the “Increase Effective Date”) and the final allocation of such increase. The Administrative Agent shall promptly notify Company and the Lenders
of the final allocation of such increase, the Increase Effective Date and revised Pro Rata Shares. 
 E. Conditions to
Effectiveness of Increase. As a condition precedent to such increase, Company shall deliver to the Administrative Agent an Officer’s Certificate dated as of the Increase Effective Date (i) certifying and attaching the resolutions
adopted by Company approving or consenting to such increase, and (ii) certifying that, before and after giving effect to such increase, (A) the representations and warranties contained in Section 5 and the other Loan Documents are
true and correct on and as of the Increase Effective Date, except to the extent that such representations and warranties specifically refer to an earlier date, in which case they are true and correct as of such earlier date, and (B) no
Potential Event of Default or Event of Default exists. Company shall prepay any Revolving Loans outstanding on the Increase Effective Date (and pay any additional amounts required pursuant to subsection 2.6D) to the extent necessary to keep the
outstanding Revolving Loans ratable with any revised Pro Rata Shares arising from any nonratable increase in the Revolving Loan Commitments under this subsection. 
  

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 F. Conflicting Provisions. This Section shall supersede any provisions in
subsection 10.5 or 10.6 to the contrary. 
  

	 	2.11 	Extension of Revolving Loan Commitment Termination Date. 

 Prior to the Revolving Loan Commitment Termination Date, Company may request an extension of the Revolving Loan Commitment Termination Date by submitting a request for an extension to the Administrative Agent (an
“Extension Request”) no earlier than 90 days, but no later than 60 days prior to either or both of the first and second anniversaries of the Closing Date. The Extension Request must specify the new Revolving Loan Commitment
Termination Date requested by Company and the date (which must be at least 30 days after the Extension Request is delivered to the Administrative Agent) as of which the Lenders must respond to the Extension Request, which date shall not be less than
20 days prior to the applicable anniversary date (the “Response Date”). Promptly upon receipt of an Extension Request, the Agent shall notify each Lender of the contents thereof and shall request each Lender to approve the Extension
Request. Each Lender may, in its sole and absolute discretion, approve or deny any Extension Request. Each Lender approving the Extension Request (an “Extending Lender”) shall deliver its written consent no later than the Response
Date. The Administrative Agent shall provide written notice to Company of the Lenders’ response no later than 15 days prior to the applicable anniversary date. The Extending Lenders’ Revolving Loan Commitments (and the Revolving Loan
Commitment Termination Date) shall be extended for one additional year after the Revolving Loan Commitment Termination Date in effect at the time the Extension Request is received, including the Revolving Loan Commitment Termination Date as one of
the days in the calculation of the days elapsed; provided that (i) at least 50% of the Revolving Loan Commitment Amount is extended or otherwise committed to by Extending Lenders and any new lenders and (ii) Company has delivered to the
Administrative Agent an Officer’s Certificate dated as of the Revolving Loan Commitment Termination Date in effect at the time the Extension Request is received certifying that (A) the representations and warranties contained in
Section 5 and the other Loan Documents are true and correct as of such date, except to the extent that such representations and warranties specifically refer to an earlier date, in which case they are true and correct as of such earlier date,
and (B) no Potential Event of Default or Event of Default exists. Otherwise, the Revolving Loan Commitment Termination Date shall not be extended. 
 The Commitment of any Lender that declines an Extension Request or fails to approve an Extension Request on or prior to the Response Date (a “Declining Lender”) shall be terminated on the Revolving
Loan Commitment Termination Date in effect at the time the Extension Request is received (without regard to any extension by other Lenders) and Company shall pay to such Declining Lender all principal, interest, fees and other amounts owing to such
Declining Lender on the Revolving Loan Commitment Termination Date in effect at the time the Extension Request is received (without regard to any extension by other Lenders). Company shall have the right, on or prior to the applicable anniversary
date, to replace any Declining Lender with a third party financial institution reasonably acceptable to the Administrative Agent and Company in the manner set forth in subsection 2.9. 
  

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	Section 3.	LETTERS OF CREDIT 

  

	 	3.1	Issuance of Letters of Credit and Lenders’ Purchase of Participations Therein. 

 A. Letters of Credit. Company may request, in accordance with the provisions of this subsection 3.1, from time to time during the
period from the Effective Date to but excluding the Revolving Loan Commitment Termination Date, that the Issuing Lender issue Letters of Credit for the account of Company for the general corporate purposes of Company or a Subsidiary of Company.
Subject to the terms and conditions of this Agreement and in reliance upon the representations and warranties of Company herein set forth, the Issuing Lender shall issue such Letters of Credit in accordance with the provisions of this subsection
3.1; provided that Company shall not request that the Issuing Lender issue (and the Issuing Lender shall not issue): 
 (i) any Letter of Credit if, after giving effect to such issuance, the Total Utilization of Revolving Loan Commitments would exceed the Revolving Loan Commitment Amount then in effect; 
 (ii) any Letter of Credit if, after giving effect to such issuance, the Letter of Credit Usage would exceed $25,000,000; 
 (iii) any Letter of Credit having an expiration date later than the earlier of (a) five days prior to the Revolving Loan Commitment
Termination Date and (b) the date which is one year from the date of issuance of such Letter of Credit; provided that the immediately preceding clause (b) shall not prevent the Issuing Lender from agreeing that a Letter of Credit
will automatically be extended for one or more successive periods not to exceed one year each unless the Issuing Lender elects not to extend for any such additional period; and provided, further that the Issuing Lender shall elect not
to extend such Letter of Credit if it has knowledge that an Event of Default has occurred and is continuing (and has not been waived in accordance with subsection 10.6) at the time such Issuing Lender must elect whether or not to allow such
extension; or 
 (iv) any Letter of Credit denominated in a currency other than Dollars. 
 Notwithstanding anything contained in this Agreement, the Issuing Lender shall not be under any obligation to issue any Letter of Credit
if (i) the Issuing Lender has received written notice that the conditions precedent set forth in subsection 4.3 have not been satisfied or (ii) a default of any Lender’s obligations to fund under subsection 3.3C exists or any Lender
is at such time a Defaulting Lender hereunder, unless the Issuing Lender has entered into satisfactory arrangements with Company or such Lender to eliminate the Issuing Lender’s risk with respect to such Lender. 
 B. Mechanics of Issuance. 
 (i) Request for Issuance. Whenever Company desires the issuance of a Letter of Credit, it shall deliver to the Issuing Lender (with a copy to Administrative Agent if Administrative Agent is not the proposed
Issuing Lender) a Request for Issuance no later 

  

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than 1:00 P.M. (San Francisco time) at least five Business Days or such shorter period as may be agreed to by the Issuing Lender in any particular instance,
in advance of the proposed date of issuance. The Issuing Lender, in its reasonable discretion, may require changes in the text of the proposed Letter of Credit or any documents described in or attached to the Request for Issuance. In furtherance of
the provisions of subsection 10.8, and not in limitation thereof, Company may submit Requests for Issuance by telefacsimile and Administrative Agent and the Issuing Lender may rely and act upon any such Request for Issuance without receiving an
original signed copy thereof. 
 Company shall notify the Issuing Lender (and Administrative Agent, if Administrative Agent is
not the Issuing Lender) prior to the issuance of any Letter of Credit in the event that any of the matters to which Company is required to certify in the applicable Request for Issuance is no longer true and correct as of the proposed date of
issuance of such Letter of Credit, and upon the issuance of any Letter of Credit Company shall be deemed to have re-certified, as of the date of such issuance, as to the matters to which Company is required to certify in the applicable Request for
Issuance. 
 (ii) Determination of Issuing Lender. Upon receipt by the Issuing Lender of a Request for Issuance
pursuant to subsection 3.1B(i) requesting the issuance of a Letter of Credit, the Issuing Lender shall issue such Letter of Credit, notwithstanding the fact that the Letter of Credit Usage with respect to such Letter of Credit and with respect to
all other Letters of Credit issued by the Issuing Lender, when aggregated with Wells Fargo’s outstanding Revolving Loans and Swing Line Loans, may exceed the amount of Wells Fargo’s Revolving Loan Commitment then in effect. 
 (iii) Issuance of Letter of Credit. Upon satisfaction or waiver (in accordance with subsection 10.6) of the conditions set forth in
subsection 4.3, the Issuing Lender shall issue the requested Letter of Credit in accordance with the Issuing Lender’s standard operating procedures. 
 (iv) Notification to Lenders. Upon the issuance of or amendment to any Letter of Credit the Issuing Lender shall promptly notify Administrative Agent and Company of such issuance or amendment in writing and
such notice shall be accompanied by a copy of such Letter of Credit or amendment. Upon receipt of such notice (or, if Administrative Agent is the Issuing Lender, together with such notice), Administrative Agent shall notify each Lender in writing of
such issuance or amendment and the amount of such Lender’s respective participation in such Letter of Credit or amendment, and, if so requested by a Lender, Administrative Agent shall provide such Lender with a copy of such Letter of Credit or
amendment. 
 C. Lenders’ Purchase of Participations in Letters of Credit. Immediately upon the issuance of each
Letter of Credit, each Lender shall be deemed to, and hereby agrees to, have irrevocably purchased from the Issuing Lender a participation in such Letter of Credit and any drawings honored thereunder in an amount equal to such Lender’s Pro Rata
Share of the maximum amount that is or at any time may become available to be drawn thereunder. 
  

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	 	3.2	Letter of Credit Fees. 

 Company agrees to pay the following amounts with respect to Letters of Credit issued hereunder: 
 (i) with respect
to each Letter of Credit, (a) a fronting fee, payable directly to the Issuing Lender for its own account, in an amount agreed to between Company and the Issuing Lender and (b) a letter of credit fee, payable to Administrative Agent for the
account of Lenders, equal to the applicable Eurodollar Rate Margin plus, for as long as any increased rates of interest apply pursuant to subsection 2.2E, 2% per annum, multiplied by the daily amount available to be drawn under
such Letter of Credit, each such fronting fee or letter of credit fee to be payable in arrears on and to (but excluding) the last Business Day of each March, June, September and December of each year and computed on the basis of a 360-day year for
the actual number of days elapsed; and 
 (ii) with respect to the issuance, amendment or transfer of each Letter of Credit
and each payment of a drawing made thereunder (without duplication of the fees payable under clause (i) above), documentary and processing charges payable directly to the Issuing Lender for its own account in accordance with the Issuing
Lender’s standard schedule for such charges in effect at the time of such issuance, amendment, transfer or payment, as the case may be. 
 For purposes of calculating any fees payable under clause (i) of this subsection 3.2, the daily amount available to be drawn under any Letter of Credit shall be determined as of the close of business on any date
of determination. 
  

	 	3.3	Drawings and Reimbursement of Amounts Paid Under Letters of Credit. 

 A. Responsibility of Issuing Lender With Respect to Drawings. In determining whether to honor any drawing under any Letter of
Credit by the beneficiary thereof, the Issuing Lender shall be responsible only to examine the documents delivered under such Letter of Credit with reasonable care so as to ascertain whether they appear on their face to be in accordance with the
terms and conditions of such Letter of Credit. 
 B. Reimbursement by Company of Amounts Paid Under Letters of Credit.
In the event the Issuing Lender has determined to honor a drawing under a Letter of Credit issued by it, the Issuing Lender shall immediately notify Company and Administrative Agent, and Company shall reimburse the Issuing Lender on or before the
Business Day immediately following the date on which such drawing is honored (the “Reimbursement Date”) in an amount in Dollars and in same day funds equal to the amount of such payment; provided that, anything contained in
this Agreement to the contrary notwithstanding, (i) unless Company shall have notified Administrative Agent and the Issuing Lender prior to 12:00 noon (San Francisco time) on the date such drawing is honored that Company intends to reimburse
the Issuing Lender for the amount of such payment with funds other than the proceeds of Revolving Loans, Company shall be deemed to have given a timely Notice of Revolving Borrowing to Administrative Agent requesting Lenders to make Revolving Loans
that are Base Rate Loans on the Reimbursement Date in an amount in Dollars equal to the amount of such payment and (ii) 

  

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subject to satisfaction or waiver of the conditions specified in subsection 4.2, Lenders shall, on the Reimbursement Date, make Revolving Loans that are Base
Rate Loans in the amount of such payment, the proceeds of which shall be applied directly by Administrative Agent to reimburse such Issuing Lender for the amount of such payment; and provided, further that if for any reason proceeds of Revolving
Loans are not received by the Issuing Lender on the Reimbursement Date in an amount equal to the amount of such payment, Company shall reimburse the Issuing Lender, on demand, in an amount in same day funds equal to the excess of the amount of such
payment over the aggregate amount of such Revolving Loans, if any, which are so received. Nothing in this subsection 3.3B shall be deemed to relieve any Lender from its obligation to make Revolving Loans on the terms and conditions set forth in this
Agreement, and Company shall retain any and all rights it may have against any Lender resulting from the failure of such Lender to make such Revolving Loans under this subsection 3.3B. During the continuance of an Event of Default, if Administrative
Agent receives any Cash collateral in respect of any outstanding Letter of Credit, such Cash collateral shall be held by Administrative Agent for the ratable benefit of the Lenders. 
 C. Payment by Lenders of Unreimbursed Amounts Paid Under Letters of Credit. 
 (i) Payment by Lenders. In the event that Company shall fail for any reason to reimburse the Issuing Lender as provided in
subsection 3.3B in an amount equal to the amount of any payment by the Issuing Lender under a Letter of Credit issued by it, such Issuing Lender shall promptly notify Administrative Agent, who shall promptly notify each Lender of the unreimbursed
amount of such honored drawing and of such Lender’s respective participation therein based on such Lender’s Pro Rata Share (after giving effect to any Revolving Loans made by such Lender under subsection 3.3B in respect of such drawing).
Each Lender (other than the Issuing Lender) shall make available to Administrative Agent an amount equal to its respective participation, in Dollars, in same day funds, at the Funding and Payment Office, not later than 1:00 P.M. (San Francisco time)
on the first Business Day after the date notified by Administrative Agent, and Administrative Agent shall make available to the Issuing Lender in Dollars, in same day funds, at the office of the Issuing Lender on such Business Day the aggregate
amount of the payments so received by Administrative Agent. In the event that any Lender fails to make available to Administrative Agent on such Business Day the amount of such Lender’s participation in such Letter of Credit as provided in this
subsection 3.3C, the Issuing Lender shall be entitled to recover such amount on demand from such Lender together with interest thereon at the rate customarily used by the Issuing Lender for the correction of errors among banks for three Business
Days and thereafter at the Base Rate. Nothing in this subsection 3.3C shall be deemed to prejudice the right of Administrative Agent to recover, for the benefit of Lenders, from the Issuing Lender any amounts made available to the Issuing Lender
pursuant to this subsection 3.3C in the event that it is determined by the final judgment of a court of competent jurisdiction that the payment with respect to a Letter of Credit by the Issuing Lender in respect of which payments were made by
Lenders constituted gross negligence or willful misconduct on the part of the Issuing Lender. 
  

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 (ii) Distribution to Lenders of Reimbursements Received From Company. In the event
the Issuing Lender shall have been reimbursed by other Lenders pursuant to subsection 3.3C(i) for all or any portion of any payment by the Issuing Lender under a Letter of Credit issued by it, and Administrative Agent or the Issuing Lender
thereafter receives any payments from Company in reimbursement of such payment under the Letter of Credit, to the extent any such payment is received by the Issuing Lender, it shall distribute such payment to Administrative Agent, and Administrative
Agent shall distribute to each other Lender that has paid all amounts payable by it under subsection 3.3C(i) with respect to such payment such Lender’s Pro Rata Share of all payments subsequently received by Administrative Agent or by the
Issuing Lender from Company. Any such distribution shall be made to a Lender at the account specified in subsection 2.4B(iii). 
 D. Interest on Amounts Paid Under Letters of Credit. 
 (i) Payment of Interest by Company. Company
agrees to pay to Administrative Agent, with respect to payments under any Letters of Credit issued by any Issuing Lender, interest on the amount paid by the Issuing Lender in respect of each such payment from the date a drawing is honored to but
excluding the date such amount is reimbursed by Company (including any such reimbursement out of the proceeds of Revolving Loans pursuant to subsection 3.3B) at a rate equal to (a) for the period from the date such drawing is honored to but
excluding the Reimbursement Date, the rate then in effect under this Agreement with respect to Base Rate Loans and (b) thereafter, a rate which is 2% per annum in excess of the rate of interest otherwise payable under this Agreement with
respect to Base Rate Loans. Interest payable pursuant to this subsection 3.3D(i) shall be computed on the basis of a 365-day year (or 366-day year in case of a leap year) for the actual number of days elapsed in the period during which it accrues
and shall be payable on demand or, if no demand is made, on the date on which the related drawing under a Letter of Credit is reimbursed in full. 
 (ii) Distribution of Interest Payments by Administrative Agent. Promptly upon receipt by Administrative Agent of any payment of interest pursuant to subsection 3.3D(i) with respect to a payment under a Letter
of Credit, (a) Administrative Agent shall distribute to (x) each Lender (including the Issuing Lender) out of the interest received by Administrative Agent in respect of the period from the date such drawing is honored to but excluding the
date on which the Issuing Lender is reimbursed for the amount of such payment (including any such reimbursement out of the proceeds of Revolving Loans pursuant to subsection 3.3B), the amount that such Lender would have been entitled to receive in
respect of the letter of credit fee that would have been payable in respect of such Letter of Credit for such period pursuant to subsection 3.2 if no drawing had been honored under such Letter of Credit, and (y) the Issuing Lender the amount,
if any, remaining after payment of the amounts applied pursuant to clause (x), and (b) in the event the Issuing Lender shall have been reimbursed by other Lenders pursuant to subsection 3.3C(i) for all or any portion of such payment,
Administrative Agent shall distribute to each Lender (including the Issuing Lender) that has paid all amounts payable by it under subsection 3.3C(i) with respect to such payment such Lender’s Pro Rata Share of any interest received by
Administrative Agent in respect of that portion of such 

  

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payment so made by Lenders for the period from the date on which the Issuing Lender was so reimbursed to but excluding the date on which such portion of such
payment is reimbursed by Company. Any such distribution shall be made to a Lender at the account specified in subsection 2.4B(iii). 
  

	 	3.4	Obligations Absolute. 

 The
obligation of Company to reimburse the Issuing Lender for payments under the Letters of Credit issued by it and to repay any Revolving Loans made by Lenders pursuant to subsection 3.3B and the obligations of Lenders under subsection 3.3C(i) shall be
unconditional and irrevocable and shall be paid strictly in accordance with the terms of this Agreement under all circumstances including any of the following circumstances: 
 (i) any lack of validity or enforceability of any Letter of Credit; 
 (ii) the existence of any claim, set-off, defense or other right which Company or any Lender may have at any time against a beneficiary or
any transferee of any Letter of Credit (or any Persons for whom any such transferee may be acting), the Issuing Lender or other Lender or any other Person or, in the case of a Lender, against Company, whether in connection with this Agreement, the
transactions contemplated herein or any unrelated transaction (including any underlying transaction between Company or one of its Subsidiaries and the beneficiary for which any Letter of Credit was procured); 
 (iii) any draft or other document presented under any Letter of Credit proving to be forged, fraudulent, invalid or insufficient in any
respect or any statement therein being untrue or inaccurate in any respect; 
 (iv) payment by the Issuing Lender under any
Letter of Credit against presentation of a draft or other document which does not substantially comply with the terms of such Letter of Credit; 
 (v) any adverse change in the business, operations, properties, assets, condition (financial or otherwise) or prospects of Company or any of its Subsidiaries; 
 (vi) any breach of this Agreement or any other Loan Document by any party thereto; 
 (vii) any other circumstance or happening whatsoever, whether or not similar to any of the foregoing; or 
 (viii) the fact that an Event of Default or a Potential Event of Default shall have occurred and be continuing; 
 provided, in each case, that payment by the Issuing Lender under the applicable Letter of Credit shall not have constituted gross negligence or
willful misconduct of the Issuing Lender under the circumstances in question (as determined by a final judgment of a court of competent jurisdiction). 
  

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	 	3.5	Nature of Issuing Lender’s Duties. 

 As between Company and the Issuing Lender, Company assumes all risks of the acts and omissions of, or misuse of the Letters of Credit issued by the Issuing Lender by, the respective beneficiaries of such Letters of
Credit. In furtherance and not in limitation of the foregoing, the Issuing Lender shall not be responsible for: (i) the form, validity, sufficiency, accuracy, genuineness or legal effect of any document submitted by any party in connection with
the application for and issuance of any such Letter of Credit, even if it should in fact prove to be in any or all respects invalid, insufficient, inaccurate, fraudulent or forged; (ii) the validity or sufficiency of any instrument transferring
or assigning or purporting to transfer or assign any such Letter of Credit or the rights or benefits thereunder or proceeds thereof, in whole or in part, which may prove to be invalid or ineffective for any reason; (iii) failure of the
beneficiary of any such Letter of Credit to comply fully with any conditions required in order to draw upon such Letter of Credit; (iv) errors, omissions, interruptions or delays in transmission or delivery of any messages, by mail, cable,
telegraph, telex or otherwise, whether or not they be in cipher; (v) errors in interpretation of technical terms; (vi) any loss or delay in the transmission or otherwise of any document required in order to make a drawing under any such
Letter of Credit or of the proceeds thereof; (vii) the misapplication by the beneficiary of any such Letter of Credit of the proceeds of any drawing under such Letter of Credit; or (viii) any consequences arising from causes beyond the
control of the Issuing Lender, including any act or omission by a Government Authority, and none of the above shall affect or impair, or prevent the vesting of, any of the Issuing Lender’s rights or powers hereunder. 
 In furtherance and extension and not in limitation of the specific provisions set forth in the first paragraph of this subsection 3.5, any
action taken or omitted by the Issuing Lender under or in connection with the Letters of Credit issued by it or any documents and certificates delivered thereunder, if taken or omitted in good faith, shall not put the Issuing Lender under any
resulting liability to Company. 
 Notwithstanding anything to the contrary contained in this subsection 3.5, Company shall
retain any and all rights it may have against the Issuing Lender for any liability arising solely out of the gross negligence or willful misconduct of the Issuing Lender, as determined by a final judgment of a court of competent jurisdiction.

  

	 	3.6	Applicability of UCP. 

 Unless otherwise expressly agreed by the Issuing Lender and Company when a Letter of Credit is issued, the rules of the Uniform Customs and Practice for Documentary Credits (UCP 500) (the “UCP”), as most recently
published by the International Chamber of Commerce at the time of issuance, shall apply to each Letter of Credit. 
  

	Section 4. 	CONDITIONS TO LOANS AND LETTERS OF CREDIT 

 The obligations of Lenders to make Loans and the issuance of Letters of Credit hereunder are subject to the satisfaction of the following conditions. 
  

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	 	4.1	Conditions to Closing. 

 This
Agreement shall become effective subject to prior or concurrent satisfaction of the following conditions, upon which the Closing Date shall occur: 
 A. Loan Documents. Company shall deliver to Lenders (or to Administrative Agent with sufficient originally executed copies, where appropriate, for each Lender) the following with respect to Company, each,
unless otherwise noted, dated the date hereof: 
 (i) Copies of the Organizational Documents of Company, certified by the
Secretary of State of its jurisdiction of organization or, if such document is of a type that may not be so certified, certified by the secretary or similar officer of Company, together with a good standing certificate from the Secretary of State of
its jurisdiction of organization dated a recent date prior to the date hereof; 
 (ii) Resolutions of the Governing Body of
Company approving and authorizing the execution, delivery and performance of the Loan Documents, certified as of the date hereof by the secretary or similar officer of Company as being in full force and effect without modification or amendment;

 (iii) Signature and incumbency certificates of the officers of Company executing the Loan Documents; 
 (iv) Executed originals of the Loan Documents; and 
 (v) Such other opinions, documents or materials as Administrative Agent or any Lender may reasonably request. 
 B. Fees. Company shall have paid to Administrative Agent the fees payable on the date hereof referred to in subsection 2.3.

 C. Representations and Warranties. Company shall have delivered to Administrative Agent an Officer’s
Certificate, in form and substance satisfactory to Administrative Agent, to the effect that the representations and warranties in Section 5 are true and correct in all material respects on and as of the date hereof to the same extent as though
made on and as of that date (or, to the extent such representations and warranties specifically relate to an earlier date, that such representations and warranties were true and correct in all material respects on and as of such earlier date);
provided that, if a representation and warranty is qualified as to materiality, the applicable materiality qualifier set forth above shall be disregarded with respect to such representation and warranty for purposes of this condition. 
 D. Financial Statements. Lenders shall have received from Company the financial statements referred to in Section 5.3 in form
and substance reasonably satisfactory to Administrative Agent. 
  

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 E. Opinions of Counsel. Lenders shall have received executed copies of the opinion
of Stoel Rives LLP, counsel for Company, dated as of the date hereof and in form and substance reasonably satisfactory to Administrative Agent. 
 F. Solvency Assurances. Administrative Agent and Lenders shall have received an Officer’s Certificate of Company dated as of the date hereof as to solvency matters in form and substance reasonably
satisfactory to Administrative Agent. 
 G. Necessary Governmental Authorizations and Consents; Expiration of Waiting
Periods, Etc. Company shall have obtained all Governmental Authorizations and all consents of other Persons, in each case that are necessary or advisable in connection with the transactions contemplated by the Loan Documents and all Governmental
Authorizations and consents necessary for the continued operation of the business conducted by Company and its Subsidiaries in substantially the same manner as conducted prior to the date hereof. Each such Governmental Authorization and consent
shall be in full force and effect, except in a case where the failure to obtain or maintain a Governmental Authorization or consent, either individually or in the aggregate, would not reasonably be expected to result in a Material Adverse Effect.
All applicable waiting periods shall have expired without any action being taken or threatened by any competent authority that would restrain, prevent or otherwise impose adverse conditions on the transactions contemplated by the Loan Documents or
the financing thereof. No action, request for stay, petition for review or rehearing, reconsideration, or appeal with respect to any of the foregoing shall be pending. 
 H. Completion of Proceedings. All corporate and other proceedings taken or to be taken in connection with the transactions
contemplated hereby and all documents incidental thereto not previously found acceptable by Administrative Agent, acting on behalf of Lenders, and its counsel shall be satisfactory in form and substance to Administrative Agent and such counsel, and
Administrative Agent and such counsel shall have received all such counterpart originals or certified copies of such documents as Administrative Agent may reasonably request. 
  

	 	4.2	Conditions to Effective Date; All Loans. 

 The obligations of Lenders to make any Revolving Loans and Swing Line Loans on any Funding Date are, in addition to the conditions precedent specified in subsection 4.1, subject to prior or concurrent satisfaction of
the following conditions: 
 A. Notice of Revolving Borrowing. Administrative Agent shall have received before
that Funding Date, in accordance with the provisions of subsection 2.1B, a duly executed Notice of Revolving Borrowing, in each case signed by a duly authorized Officer of Company. 
 B. Representations and Warranties True; No Default; Etc. As of that Funding Date: 
 (i) the representations and warranties contained herein (other than subsection 5.4) and in the other Loan Documents shall be true and
correct in all material respects on and as of that Funding Date to the same extent as though made on and as of that date, 

  

 51 

 
except to the extent such representations and warranties specifically relate to an earlier date, in which case such representations and warranties shall have
been true and correct in all material respects on and as of such earlier date; provided, that, if a representation and warranty is already qualified as to materiality, the materiality qualifier set forth above shall be disregarded with
respect to such representation and warranty for purposes of this condition; 
 (ii) no event shall have occurred and be
continuing or would result from the consummation of the borrowing contemplated by such Notice of Revolving Borrowing that would constitute an Event of Default or a Potential Event of Default; and 
 (iii) no order, judgment or decree of any arbitrator or Government Authority shall purport to enjoin or restrain such Lender from making
the Loans to be made by it on that Funding Date. 
  

	 	4.3	Conditions to Letters of Credit. 

 The issuance of any Letter of Credit hereunder (whether or not the applicable Issuing Lender is obligated to issue such Letter of Credit) is subject to the following conditions precedent: 
 A. On or before the date of issuance of such Letter of Credit, Administrative Agent shall have received, in accordance with the
provisions of subsection 3.1B(i), an originally executed Request for Issuance (or a copy thereof transmitted by electronic mail) in each case signed by a duly authorized Officer of Company, together with all other information specified in subsection
3.1B(i) and such other documents or information as the applicable Issuing Lender may reasonably require in connection with the issuance of such Letter of Credit. 
 B. On the date of issuance of such Letter of Credit, all conditions precedent described in subsection 4.2B shall be satisfied to
the same extent as if the issuance of such Letter of Credit were the making of a Loan and the date of issuance of such Letter of Credit were a Funding Date. 
  

	Section 5. 	COMPANY’S REPRESENTATIONS AND WARRANTIES 

 In order to induce Lenders to enter into this Agreement and to make the Loans, to induce Issuing Lenders to issue Letters of Credit and to induce Lenders to purchase participations therein, Company represents and
warrants to each Lender: 
  

	 	5.1	Organization, Powers, Qualification, Good Standing, Business and Subsidiaries. 

 A. Organization and Powers. Company is a corporation duly organized, validly existing and in good standing under the laws of the
State of Oregon. Company has all requisite corporate power and authority to own and operate its properties, to carry on its business as now conducted, to enter into the Loan Documents to which it is a party and to carry out the transactions
contemplated thereby. 
  

 52 

 B. Qualification and Good Standing. Company is qualified to do business and in
good standing in every jurisdiction where its assets are located and wherever necessary to carry out its business and operations, except in jurisdictions where the failure to be so qualified or in good standing would not reasonably be expected to
result in a Material Adverse Effect. 
 C. Conduct of Business. Company and its Subsidiaries are engaged only in the
businesses permitted to be engaged in pursuant to subsection 7.7. 
 D. Subsidiaries. The Capital Stock of each of the
Subsidiaries of Company is duly authorized, validly issued, fully paid and nonassessable and none of such Capital Stock constitutes Margin Stock. Each of the Subsidiaries of Company is a corporation, partnership, trust or limited liability company
duly organized, validly existing and in good standing under the laws of its respective jurisdiction of organization set forth therein, has all requisite organizational power and authority to own and operate its properties and to carry on its
business as now conducted, and is qualified to do business and in good standing in every jurisdiction where its assets are located and wherever necessary to carry out its business and operations, in each case except where failure to be so qualified
or in good standing or a lack of such power and authority would not reasonably be expected to result in a Material Adverse Effect. 
  

	 	5.2	Authorization of Borrowing, etc. 

 A. Authorization of Borrowing. The execution, delivery and performance of the Loan Documents have been duly authorized by all necessary organizational action on the part of Company. 
 B. No Conflict. The execution, delivery and performance by Company of the Loan Documents and the consummation of the transactions
contemplated by the Loan Documents do not and will not (i) violate any provision of any law or any governmental rule or regulation applicable to Company or any of its Subsidiaries, the Organizational Documents of Company or any of its
Subsidiaries or any order, judgment or decree of any court or other Government Authority binding on Company or any of its Subsidiaries, (ii) conflict with, result in a breach of or constitute (with due notice or lapse of time or both) a default
under any Contractual Obligation of Company or any of its Subsidiaries, (iii) result in or require the creation or imposition of any Lien upon any of the properties or assets of Company or any of its Subsidiaries (other than any Liens created
under any of the Loan Documents in favor of Administrative Agent on behalf of Lenders), or (iv) require any approval of stockholders or any approval or consent of any Person under any Contractual Obligation of Company or any of its
Subsidiaries, except for such approvals or consents which will be obtained on or before the date hereof and disclosed in writing to Lenders and except, in each case, to the extent such violation, conflict, Lien or failure to obtain such approval or
consent would not reasonably be expected to result in a Material Adverse Effect. 
 C. Governmental Consents. The
execution, delivery and performance by Company of the Loan Documents and the consummation of the transactions contemplated by the Loan Documents do not and will not require any Governmental Authorization except for any Governmental Authorization
required in connection with the conduct of business of Company in the ordinary course. 
  

 53 

 D. Binding Obligation. Each of the Loan Documents has been duly executed
and delivered by Company and is the legally valid and binding obligation of Company, enforceable against Company in accordance with its respective terms, except as may be limited by bankruptcy, insolvency, reorganization, fraudulent transfer,
moratorium or similar laws relating to or limiting creditors’ rights generally or by equitable principles relating to enforceability. 
  

	 	5.3	Financial Condition. 

 A. Company has heretofore delivered to Lenders, at Lenders’ request, the audited consolidated balance sheets, statements of income and cash flows of Company and its Subsidiaries as at and for the year ended December 31,
2005, and the unaudited consolidated balance sheets, statements of income and cash flows of Company and its Subsidiaries as at and for the fiscal quarter ended March 31, 2006. All such statements were prepared in conformity with GAAP and fairly
present, in all material respects, the financial position (on a consolidated basis) of the entities described in such financial statements as at the respective dates thereof and the results of operations and cash flows (on a consolidated basis) of
the entities described therein for each of the periods then ended, subject, in the case of any such unaudited financial statements, to changes resulting from audit and normal year-end adjustments and the absence of footnote disclosure. With respect
to the audited financial statements as of December 31, 2005, neither Company nor any of its Subsidiaries has any Contingent Obligation, contingent liability or liability for taxes, long-term lease or unusual forward or long-term commitment
that, as of the Closing Date, is not reflected in the foregoing financial statements or the notes thereto and, as of any Funding Date subsequent to the Closing Date, is not reflected in the most recent audited financial statements delivered to
Lenders pursuant to subsection 6.1 or the notes thereto and that, in any such case, is required by GAAP to be reflected in such financial statements or the notes thereto and material in relation to the business, operations, properties, assets,
condition (financial or otherwise) or prospects of Company or any of its Subsidiaries. 
 B. Company has heretofore
delivered to Lenders, at Lenders’ request, the audited Annual Statements for each of Standard Insurance Company and The Standard Life Insurance Company of New York as at and for the year ended December 31, 2005, and the unaudited Quarterly
Statements as at and for the fiscal quarter ended March 31, 2006. All such statements were prepared in conformity with SAP and fairly present, in all material respects, the financial position of the entities described in such financial
statements as at the respective dates thereof. With respect to such audited Annual Statements as of December 31, 2005, none of such Insurance Subsidiaries has any Contingent Obligation, contingent liability or liability for taxes, long-term
lease or unusual forward or long-term commitment that, as of the Closing Date, is not reflected in the foregoing financial statements or the notes thereto and, as of any Funding Date subsequent to the Closing Date, is not reflected in the most
recent audited Annual Statements delivered to Lenders pursuant to subsection 6.1 or the notes thereto and that, in any such case, is required by SAP to be reflected in such financial statements or the notes thereto and material in relation to the
business, operations, properties, assets, condition (financial or otherwise) or prospects of such Insurance Subsidiaries. 
  

 54 

	 	5.4	No Material Adverse Change. 

 Since December 31, 2005, no event or change has occurred that has resulted in or evidences, either in any case or in the aggregate, a Material Adverse Effect. 
  

	 	5.5	Title to Properties; Liens. 

 Company and its Subsidiaries have good and marketable title to all of their respective properties and assets reflected in the financial statements referred to in subsection 5.3 or in the most recent financial statements delivered pursuant
to subsection 6.1, in each case except for assets disposed of since the date of such financial statements in the ordinary course of business or as otherwise permitted under subsection 7.5 and except for defects and irregularities that would not
reasonably be expected to result in a Material Adverse Effect. Except as permitted by this Agreement, all such properties and assets are free and clear of Liens. 
  

	 	5.6	Litigation; Adverse Facts. 

 There are no Proceedings (whether or not purportedly on behalf of Company or any of its Subsidiaries) at law or in equity, or before or by any court or other Government Authority (including any Environmental Claims) that are pending or, to
the knowledge of Company, threatened against or affecting Company or any of its Subsidiaries or any property of Company or any of its Subsidiaries and that, individually or in the aggregate, would reasonably be expected to result in a Material
Adverse Effect. Neither Company nor any of its Subsidiaries (i) is in violation of any applicable laws (including Environmental Laws) that, individually or in the aggregate, would reasonably be expected to result in a Material Adverse Effect,
or (ii) is subject to or in default with respect to any final judgments, writs, injunctions, decrees, rules or regulations of any court or other Government Authority that, individually or in the aggregate, would reasonably be expected to result
in a Material Adverse Effect. 
  

	 	5.7	Payment of Taxes. 

 Except to
the extent permitted by subsection 6.3, all federal and all other material tax returns and reports of Company and its Subsidiaries required to be filed by any of them have been timely filed, and all taxes shown on such tax returns to be due and
payable and all material assessments, fees and other governmental charges upon Company and its Subsidiaries and upon their respective properties, assets, income, businesses and franchises that are due and payable have been paid when due and payable,
unless such taxes, assessments, fees or charges are being actively contested by Company or such Subsidiary in good faith and by appropriate proceedings and reserves or other appropriate provisions, if any, as shall be required in conformity with
GAAP shall have been made or provided therefor. 
  

	 	5.8	Governmental Regulation. 

 Neither Company nor any of its Subsidiaries is subject to regulation under the Public Utility Holding Company Act of 2005, the Federal Power Act, the Interstate Commerce Act or the Investment Company Act of 1940 or under any other federal
or state statute or regulation which may limit its ability to incur Indebtedness or which may otherwise render all or any portion of the Obligations unenforceable. 
  

 55 

	 	5.9	Securities Activities. 

 A. Neither Company nor any of its Subsidiaries is engaged principally, or as one of its important activities, in the business of extending credit for the purpose of purchasing or carrying any Margin Stock. 
 B. No part of the proceeds of the Loans will be used for the purpose, directly or indirectly, of buying or carrying any Margin
Stock. 
  

	 	5.10 	Employee Benefit Plans. 

 A.
Company, each of its Subsidiaries and each of their respective ERISA Affiliates are in material compliance with all applicable provisions and requirements of ERISA and the regulations and published interpretations thereunder with respect to each
Employee Benefit Plan, and have performed all their obligations under each Employee Benefit Plan. To the knowledge of Company and each of its Subsidiaries, each Employee Benefit Plan that is intended to qualify under Section 401(a) of the
Internal Revenue Code is so qualified. 
 B. No ERISA Event has occurred or is reasonably expected to occur.

 C. There are no liabilities with respect to either (i) any Employee Benefit Plan which provides health or
welfare benefits (through the purchase of insurance or otherwise) for any retired or former employee of Company, any of its Subsidiaries or any of their respective ERISA Affiliates, or (ii) any Pension Plan sponsored or contributed to by
Company, any of its Subsidiaries or any of their respective ERISA Affiliates which, in any such case, could reasonably be expected to have a Material Adverse Effect. 
 D. Neither Company, any of its Subsidiaries nor any of their respective ERISA Affiliates sponsor or contribute to, nor have ever
sponsored or contributed to, any Multiemployer Plan. 
  

	 	5.11 	Environmental Protection. 

 In the ordinary course of its business, the officers of Company and its Subsidiaries consider the effect of Environmental Laws on the business of Company and its Subsidiaries, in the course of which they identify and evaluate potential
risks and liabilities accruing to Company due to Environmental Laws. On the basis of this consideration, Company has concluded that Environmental Laws would not reasonably be expected to have a Material Adverse Effect. Neither Company nor any
Subsidiary has received any notice to the effect that its operations are not in material compliance with any of the requirements of applicable Environmental Laws or are the subject of any federal or state investigation evaluating whether any
remedial action is needed to respond to a release of any Hazardous Materials into the environment, which non-compliance or remedial action could reasonably be expected to have a Material Adverse Effect. 
  

 56 

	 	5.12 	Solvency. 

 Company is and,
upon the incurrence of any Obligations by Company on any date on which this representation is made, will be, Solvent. 
  

	 	5.13 	Disclosure. 

 No
representation or warranty of Company or any of its Subsidiaries contained in the Confidential Information Memorandum or in any Loan Document or in any other document, certificate or written statement furnished to Lenders by or on behalf of Company
or any of its Subsidiaries for use in connection with the transactions contemplated by this Agreement contains any untrue statement of a material fact or omits to state a material fact (known to Company, in the case of any information not furnished
by it) necessary in order to make the statements contained herein or therein not misleading in light of the circumstances in which the same were made. Any projections and pro forma financial information contained in such materials are based upon
good faith estimates and assumptions believed by Company to be reasonable at the time made, it being recognized by Lenders that such projections as to future events are not to be viewed as facts and that actual results during the period or periods
covered by any such projections may differ from the projected results. There are no facts known (or which should upon the reasonable exercise of diligence be known) to Company that, individually or in the aggregate, could reasonably be expected to
result in a Material Adverse Effect and that have not been disclosed herein or in such other documents, certificates and statements furnished to Lenders for use in connection with the transactions contemplated hereby. 
  

	 	5.14 	Foreign Assets Control Regulations, etc.. 

 Neither the making of the Loans to, or issuance of Letters of Credit on behalf of, Company nor its use of the proceeds thereof will violate the Trading with the Enemy Act, as amended, or any of the foreign assets
control regulations of the United States Treasury Department (31 CFR, Subtitle B, Chapter V, as amended) or any enabling legislation or executive order relating thereto. Without limiting the foregoing, neither Company nor any of its Subsidiaries or
Affiliates (a) is or will become a Person whose property or interests in property are blocked pursuant to Section 1 of Executive Order 13224 of September 23, 2001 Blocking Property and Prohibiting Transactions With Persons Who Commit,
Threaten to Commit, or Support Terrorism (66 Fed. Reg. 49079 (2001)) or (b) engages or will engage in any dealings or transactions, or be otherwise associated, with any such Person. Company and its Subsidiaries and Affiliates are in
compliance, in all material respects, with the Uniting And Strengthening America By Providing Appropriate Tools Required To Intercept And Obstruct Terrorism (USA Patriot Act of 2001). 
  

	 	5.15 	Insurance Licenses. 

 Schedule 5.15 hereto lists all of the jurisdictions in which any material Insurance Subsidiary holds a License and is authorized to transact insurance business as of the Closing Date. No such License, the loss of which could
reasonably be expected to have a Material Adverse Effect, is the subject of a proceeding for suspension or revocation. To Company’s knowledge, there is no sustainable basis for such suspension or revocation, and no such 

  

 57 

 
suspension or revocation has been threatened by any Governmental Authority. Schedule 5.15 also indicates the line or lines of insurance in which each
such Insurance Subsidiary is engaged and the state or states in which such Insurance Subsidiary is licensed to engage in any line of insurance, in each case as of the Closing Date. 
  

	Section 6.	AFFIRMATIVE COVENANTS 

 Company
covenants and agrees that, so long as any of the Commitments hereunder shall remain in effect and until payment in full of all of the Loans and other Obligations (other than Unasserted Obligations) and the cancellation or expiration of all Letters
of Credit, unless Requisite Lenders shall otherwise give consent, Company shall perform, and shall cause each of its Subsidiaries to perform, all covenants in this Section 6. 
  

	 	6.1	Financial Statements and Other Reports. 

 Company will maintain, and cause each of its Subsidiaries to maintain, a system of accounting established and administered in accordance with sound business practices to permit preparation of financial statements in
conformity with GAAP. Company will deliver, or cause to be delivered, to Administrative Agent for further distribution to Lenders: 
 (i) Events of Default, etc.: promptly upon any officer of Company obtaining knowledge (A) of any condition or event that constitutes an Event of Default or Potential Event of Default, or becoming aware that any Lender has given
any notice (other than to Administrative Agent) or taken any other action with respect to a claimed Event of Default or Potential Event of Default, (B) that any Person has given any notice to Company or any of its Subsidiaries or taken any
other action with respect to a claimed default or event or condition of the type referred to in subsection 8.2, or (C) of the occurrence of any event or change that has caused or evidences, either in any case or in the aggregate, a Material
Adverse Effect, an Officer’s Certificate specifying the nature and period of existence of such condition, event or change, or specifying the notice given or action taken by any such Person and the nature of such claimed Event of Default,
Potential Event of Default, default, event or condition and what action Company has taken, is taking and proposes to take with respect thereto; 
 (ii) Quarterly Financials: (a) as soon as available and in any event within 45 days after the end of each of the first three Fiscal Quarters of each Fiscal Year, the consolidated balance sheets of Company
and its Subsidiaries as at the end of such Fiscal Quarter and the related consolidated statements of income, stockholders’ equity and cash flows of Company and its Subsidiaries for such Fiscal Quarter and for the period from the beginning of
the then current Fiscal Year to the end of such Fiscal Quarter, setting forth in each case in comparative form the corresponding figures for the corresponding periods of the previous Fiscal Year, all in reasonable detail and certified by the chief
financial officer of Company that they fairly present, in all material respects, the financial condition of Company and its Subsidiaries as at the dates indicated and the results of their operations and their cash flows for the periods indicated,
subject to changes resulting from audit and normal year-end adjustments and the absence of footnote disclosure, and (b) within 45 days after the end of each of the first three Fiscal Quarters of each Fiscal 

  

 58 

 
Year, a narrative report describing the operations of Company and its Subsidiaries in the form prepared for presentation to senior management for such Fiscal
Quarter and for the period from the beginning of the then current Fiscal Year to the end of such Fiscal Quarter; it being understood and agreed that the delivery of Company’s Form 10-Q promptly following the filing thereof with the Securities
and Exchange Commission shall satisfy the delivery requirements set forth in this clause (subject to the time periods set forth in this clause (ii)); 
 (iii) Year-End Financials: as soon as available and in any event within 90 days after the end of each Fiscal Year, (a) the consolidated balance sheets of Company and its Subsidiaries as at the end of such
Fiscal Year and the related consolidated statements of income, stockholders’ equity and cash flows of Company and its Subsidiaries for such Fiscal Year, setting forth in each case in comparative form the corresponding figures for the previous
Fiscal Year, all in reasonable detail and certified by the chief financial officer of Company that they fairly present, in all material respects, the consolidated financial condition of Company and its Subsidiaries as at the dates indicated and the
consolidated results of their operations and their cash flows for the periods indicated, (b) a report for Company and its Subsidiaries setting forth in comparative form the corresponding figures for the previous Fiscal Year, (c) a
narrative report describing the operations of Company and its Subsidiaries in the form prepared for presentation to senior management for such Fiscal Year, (d) in the case of all such consolidated financial statements, a report and opinion
thereon of Deloitte & Touche LLP or other independent certified public accountants of recognized national standing selected by Company, which report and opinion shall be prepared in accordance with audit standards of the Public Company
Accounting Oversight Board and applicable Securities Laws unqualified as to the scope of the audit or the ability of Company and its Subsidiaries to continue as a going concern, and shall state that such consolidated financial statements fairly
present, in all material respects, the consolidated financial position of Company and its Subsidiaries as at the dates indicated and the consolidated results of their operations and their cash flows for the periods indicated in conformity with GAAP
applied on a basis consistent with prior years (except as otherwise disclosed in such financial statements) and that the examination by such accountants in connection with such consolidated financial statements has been made in accordance with
generally accepted auditing standards, and it being understood and agreed that the delivery of Company’s Form 10-K promptly after the filing thereof with the Securities and Exchange Commission shall satisfy the requirements set forth in this
clause (subject to the time periods set forth in this clause (iii)); 
 (iv) Compliance Certificates: together with
each delivery of financial statements pursuant to subdivisions (ii) and (iii) above, (a) an Officer’s Certificate of Company stating that the signers have reviewed the terms of this Agreement and have made, or caused to be made
under their supervision, a review in reasonable detail of the transactions and condition of Company and its Subsidiaries during the accounting period covered by such financial statements and that such review has not disclosed the existence during or
at the end of such accounting period, and that the signers do not have knowledge of the existence as at the date of such Officer’s Certificate, of any condition or event that constitutes an Event of Default or Potential Event of Default, or, if
any such 

  

 59 

 
condition or event existed or exists, specifying the nature and period of existence thereof and what action Company has taken, is taking and proposes to take
with respect thereto; and (b) a Compliance Certificate demonstrating in reasonable detail compliance at the end of the applicable accounting periods with the restrictions contained in subsection 7.4; 
 (v) SAP Financial Statements. (a) as soon as available and in any event within 60 days after the end of each of the first
three Fiscal Quarters of each Fiscal Year, copies of the unaudited Quarterly Statement of Standard Insurance Company, The Standard Life Insurance Company of New York and each other Insurance Subsidiary requested by Administrative Agent, certified by
the chief financial officer or the treasurer of such Insurance Subsidiary, all such statements to be prepared in accordance with SAP consistently applied throughout the periods reflected therein and (b) as soon as available and in any event
within 100 days after the end of each Fiscal Year, copies of the Annual Statement of Standard Insurance Company, The Standard Life Insurance Company of New York and each other Insurance Subsidiary requested by Administrative Agent in the form
delivered to the applicable Government Authority, all such statements to be prepared in accordance with SAP consistently applied throughout the periods reflected therein. 
 (vi) Reconciliation Statements: if, as a result of any change in accounting principles and policies from those used in the
preparation of the audited financial statements referred to in subsection 5.3, the consolidated financial statements of Company and its Subsidiaries or of Company and its Subsidiaries, as applicable, delivered pursuant to subdivisions (ii),
(iii) or (v) of this subsection 6.1 will differ in any material respect from the consolidated financial statements that would have been delivered pursuant to such subdivisions had no such change in accounting principles and policies been
made, then, together with the first delivery of financial statements pursuant to subdivision (ii), (iii) or (v) of this subsection 6.1 following such change, consolidated financial statements of Company and its Subsidiaries or of Company
and its Subsidiaries, as applicable, for the current Fiscal Year to the effective date of such change, prepared on a pro forma basis as if such change had been in effect during such periods, together with, if required pursuant to subsection 1.2, a
written statement of the chief financial officer of Company setting forth the differences (including any differences that would affect any calculations relating to the financial covenants set forth in subsection 7.4) which would have resulted if
such financial statements had been prepared without giving effect to such change; 
 (vii) Accountants’ Reports:
promptly upon receipt thereof (unless restricted by applicable professional standards), copies of all reports submitted to Company by independent certified public accountants in connection with each annual, interim or special audit of the financial
statements of Company and its Subsidiaries made by such accountants, including any comment letter submitted by such accountants to management in connection with their annual audit; 
 (viii) SEC Filings and Press Releases: promptly upon their becoming available, copies of (a) regular and periodic reports and
all registration statements (other than on Form S-8 or a similar form) and prospectuses, if any, filed by Company or any of its 

  

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Subsidiaries with any securities exchange or with the Securities and Exchange Commission or any governmental or private regulatory authority, and
(b) all press releases and other statements made available generally by Company or any of its Subsidiaries to the public concerning material developments in the business of Company and its Subsidiaries, taken as a whole; 
 (ix) Litigation or Other Proceedings: promptly upon any Officer of Company obtaining knowledge of (a) the institution of, or
non-frivolous threat of, any Proceeding against or affecting Company or any of its Subsidiaries or any property of Company or any of its Subsidiaries not previously disclosed in writing by Company to Lenders or (b) any material development in
any Proceeding that, in any case: 
 (x) if adversely determined, after giving effect to the coverage and policy limits of
insurance policies issued to Company and its Subsidiaries, would reasonably be expected to result in a Material Adverse Effect; or 
 (y) seeks to enjoin or otherwise prevent the consummation of, or to recover any damages or obtain relief as a result of, the making, securing or repayment of the Obligations hereunder or the application of proceeds thereof; 
 written notice thereof together with such other information as may be reasonably available to Company to enable Lenders and their counsel to evaluate such
matters; 
 (x) ERISA Events: promptly upon becoming aware of the occurrence of or forthcoming occurrence of any ERISA
Event, a written notice specifying the nature thereof, what action Company, any of its Subsidiaries or any of their respective ERISA Affiliates has taken, is taking or proposes to take with respect thereto and, when known, any action taken or
threatened by the Internal Revenue Service, the Department of Labor or the PBGC with respect thereto; 
 (xi) ERISA
Notices: with reasonable promptness, copies of all notices received by Company or any of its Subsidiaries from a Multiemployer Plan sponsor concerning an ERISA Event; 
 (xii) Insurance Matters: promptly upon receipt thereof, (a) copies of any notice from any Governmental Authority of the
expiration without renewal, revocation or suspension of, or the institution of any proceedings to revoke or suspend, any License now or hereafter held by any Insurance Subsidiary which is required to conduct insurance business in compliance with all
applicable laws and regulations and the expiration, revocation or suspension of which would reasonably be expected to have a Material Adverse Effect, (b) copies any notice from any Governmental Authority of the institution of any disciplinary
proceedings against or in respect of any Insurance Subsidiary, or the issuance of any order, the taking of any action or any request for an extraordinary audit for cause by any Governmental Authority which, if adversely determined, would reasonably
be expected to have a Material Adverse Effect, and (c) copies of any material judicial or administrative order of which Company is aware limiting or controlling the 

  

 61 

 
insurance business of any Insurance Subsidiary (and not the insurance industry generally) which has been issued or adopted; 
 (xiii) Ratings: immediately upon becoming aware of any change in Company’s non-credit-enhanced, senior unsecured debt ratings,
a statement describing such change, whether such change was made by S&P, Moody’s or both and the effective date of such change; and 
 (xiv) Other Information: with reasonable promptness, such other information and data with respect to Company or any of its Subsidiaries as from time to time may be reasonably requested by Administrative Agent.

  

	 	6.2	Existence, etc. 

 A.
Except as permitted under subsection 7.5, Company will, and will cause each of its Subsidiaries to, at all times preserve and keep in full force and effect its existence and all rights and franchises material to its business; provided,
however that neither Company nor any of its Subsidiaries shall be required to preserve any such right or franchise if the Governing Body of Company or such Subsidiary shall determine that the preservation thereof is no longer desirable in the
conduct of the business of Company or such Subsidiary, as the case may be, and that the loss thereof would not reasonably be expected to result in a Material Adverse Effect. 
 B. Company will cause each Insurance Subsidiary to do all things necessary to renew, extend and continue in effect all Licenses
which may at any time and from time to time be necessary for any Insurance Subsidiary to operate its insurance business in compliance with all applicable laws and regulations except for any License the loss of which could not reasonably be expected
to have a Material Adverse Effect; provided, that any Insurance Subsidiary may withdraw from one or more states (other than its state of domicile) as an admitted insurer if such withdrawal is determined by the Borrower’s Board of
Directors to be in the best interest of the Borrower and could not reasonably be expected to have a Material Adverse Effect; provided further, that Standard Insurance Company shall not change its state of domicile or incorporation without the
prior written consent of the Requisite Lenders if such change could reasonably be expected to have a Material Adverse Effect. 
  

	 	6.3	Payment of Taxes and Claims. 

 Company will, and will cause each of its Subsidiaries to, pay all material taxes, assessments and other governmental charges imposed upon it or any of its properties or assets or in respect of any of its income, businesses or franchises
before any material penalty accrues thereon, and all material claims (including claims for labor, services, materials and supplies) for sums that have become due and payable and that by law have or may become a Lien upon any of its properties or
assets, prior to the time when any material penalty or fine shall be incurred with respect thereto; provided that no such tax, assessment, charge or claim need be paid if it is being contested in good faith by appropriate proceedings, so long
as (i) such reserve or other appropriate provision, if any, as shall be required in conformity with GAAP shall have been made therefor and (ii) in the case of a tax, assessment, charge or claim which has or may become a Lien against any of
the assets of Company or its Subsidiaries, the Lien is not being enforced by 

  

 62 

 
foreclosure or sale of any portion of such assets to satisfy such charge or claim or is otherwise permitted by this Agreement. 
  

	 	6.4	Maintenance of Properties; Insurance. 

 A. Maintenance of Properties. Company will, and will cause each of its Subsidiaries to, maintain or cause to be maintained in good repair, working order and condition, ordinary wear and tear excepted,
all material properties used or useful in the business of Company and its Subsidiaries (including all material intellectual property). 
 B. Insurance. Company will maintain or cause to be maintained, with financially sound and reputable insurers, such public liability insurance, third party property damage insurance, business interruption
insurance and casualty insurance with respect to liabilities, losses or damage in respect of the assets, properties and businesses of Company and its Subsidiaries as may customarily be carried or maintained under similar circumstances by
corporations of established reputation engaged in similar businesses, in each case in such amounts (giving effect to self-insurance), with such deductibles, covering such risks and otherwise on such terms and conditions as shall be customary for
corporations similarly situated in the industry. 
  

	 	6.5	Inspection Rights. 

 Company
shall, and shall cause each of its Subsidiaries to, permit any authorized representatives designated by Administrative Agent (and, during the continuance of an Event of Default, any Lender) to visit and inspect any of the properties of Company or of
any of its Subsidiaries, to inspect, copy and take extracts from its and their financial and accounting records, and to discuss its and their affairs, finances and accounts with its and their officers and independent public accountants (provided
that Company may, if it so chooses, be present at or participate in any such discussion), all upon reasonable notice and at such reasonable times during normal business hours and as often as may reasonably be requested or at any time or from time to
time following the occurrence and during the continuation of an Event of Default. 
  

	 	6.6	Compliance with Laws, etc. 

 Company shall comply, and shall cause each of its Subsidiaries to comply, with the requirements of all applicable laws, rules, regulations and orders of any Government Authority (including all Environmental Laws), noncompliance with which
would reasonably be expected to result in, individually or in the aggregate, a Material Adverse Effect. 
  

	Section 7. 	NEGATIVE COVENANTS 

 Company
covenants and agrees that, so long as any of the Commitments hereunder shall remain in effect and until payment in full of all of the Loans and other Obligations (other than Unasserted Obligations) and the cancellation or expiration of all Letters
of Credit, unless Requisite Lenders shall otherwise give consent, Company shall perform, and shall cause each of its Subsidiaries to perform, all covenants in this Section 7. 
  

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	 	7.1	Liens and Related Matters. 

 A. Prohibition on Liens. Company shall not, and shall not permit any of its Subsidiaries to, directly or indirectly, create, incur, assume or permit to exist any Lien on or with respect to any property or asset of any kind
(including any document or instrument in respect of goods or accounts receivable) of Company or any of its Subsidiaries, whether now owned or hereafter acquired, or any income or profits therefrom, or file or permit the filing of, or permit to
remain in effect, any financing statement or other similar notice of any Lien with respect to any such property, asset, income or profits under the UCC or under any similar recording or notice statute, except: 
 (i) Permitted Encumbrances; 
 (ii) Liens described in Schedule 7.1 annexed hereto; 
 (iii) Purchase money liens;
provided that (A) such Liens do not at any time encumber any property other than the property financed by such Indebtedness, (B) the Indebtedness secured thereby does not exceed the cost or fair market value, whichever is lower, of the
property being acquired on the date of acquisition and (C) the aggregate principal amount of the Indebtedness secured thereby does not exceed $25,000,000 at any one time outstanding; and 
 (iv) other Liens securing Indebtedness in an aggregate amount not to exceed 10% of Consolidated Net Worth. 
 B. No Further Negative Pledges. Neither Company nor any of its Subsidiaries shall enter into any agreement prohibiting the
creation or assumption of any Lien upon any of its properties or assets, whether now owned or hereafter acquired, other than (i) any agreement evidencing Indebtedness secured by Liens permitted by this Agreement, as to the assets securing such
Indebtedness, and (ii) any agreement evidencing an asset sale, as to the assets being sold. 
 C. No
Restrictions on Subsidiary Distributions to Company or Other Subsidiaries. Company will not, and will not permit any of its Subsidiaries to, create or otherwise cause or suffer to exist or become effective any consensual encumbrance or
restriction of any kind on the ability of any such Subsidiary to (i) pay dividends or make any other distributions on any of such Subsidiary’s Capital Stock owned by Company or any other Subsidiary of Company, (ii) repay or prepay any
Indebtedness owed by such Subsidiary to Company or any other Subsidiary of Company, (iii) make loans or advances to Company or any other Subsidiary of Company, or (iv) transfer any of its property or assets to Company or any other
Subsidiary of Company, except in each case (a) as provided in this Agreement, (b) as to transfers of assets, as may be provided in an agreement with respect to a sale of such assets and (c) as required by law. 
  

	 	7.2	Acquisitions. 

 Company shall
not, and shall not permit any of its Subsidiaries to, directly or indirectly, acquire, by purchase or otherwise, all or substantially all the business, property or 

  

 64 

 
fixed assets of, or Capital Stock of any Person, or any division or line of business of any Person except Company and its Subsidiaries may acquire, in a
single transaction or series of related transactions (a) all or substantially all of the assets or a majority of the outstanding Securities entitled to vote in an election of members of the Governing Body of a Person or (b) any division,
line of business or other business unit of a Person, in each case that is a type of business (or assets used in a type of business) permitted to be engaged in by Company and its Subsidiaries pursuant to subsection 7.7, so long as (1) no Event
of Default or Potential Event of Default shall then exist or would exist after giving effect thereto, and (2) after giving effect to such acquisition and any financing thereof on a pro forma basis as if such acquisition had been completed on
the first day of the four Fiscal Quarter period ending on the last day of the most recent Fiscal Quarter for which financial statements have been delivered pursuant to subsection 6.1(ii) (such last day, the “test date”), Company and its
Subsidiaries would have been in compliance with each of the financial covenants set forth in subsection 7.4. 
  

	 	7.3	Restricted Junior Payments. 

 Company shall not, and shall not permit any of its Subsidiaries to, directly or indirectly, declare, order, pay, make or set apart any sum for any Restricted Junior Payment so long as any Event of Default or Potential Event of Default shall
have occurred and be continuing or shall be caused thereby; provided, that if a Restricted Junior Payment was validly declared by the Governing Body of the Company at a time when no Event of Default or Potential Event of Default was in
existence, then such Restricted Junior Payment may be paid notwithstanding the occurrence and continuance of an Event of Default or Potential Event of Default (other than an Event of Default or Potential Event of Default arising under
Section 8.1 or (to the extent relating to a breach of Section 7.4) Section 8.3, so long as such Restricted Junior Payment is paid within 60 days after the date of such declaration. 
  

	 	7.4	Financial Covenants. 

 A. Maximum Leverage Ratio. Company shall not permit the Consolidated Leverage Ratio as of the last day of any Fiscal Quarter to exceed 35%. 
 B. Consolidated Net Worth. Company shall maintain a Consolidated Net Worth at all times equal to at least $1,040,000,000.

  

	 	7.5	Restriction on Fundamental Changes; Asset Sales. 

 Company shall not, and shall not permit any of its Subsidiaries to, enter into any transaction of merger or consolidation, or liquidate, wind-up or dissolve itself (or suffer any liquidation or dissolution), or
convey, sell, lease or sub-lease (as lessor or sublessor), transfer or otherwise dispose of, in one transaction or a series of transactions, all or any part of its business, property or assets (including its notes or receivables and Capital Stock of
any Subsidiary, whether newly issued or outstanding), whether now owned or hereafter acquired, except: 
 (i) any Subsidiary
of Company may be merged with or into Company or any wholly-owned Subsidiary, or be liquidated, wound up or dissolved, or all or any part of its business, property or assets may be conveyed, sold, leased, transferred or otherwise disposed of, in one
transaction or a series of transactions, to Company or any 

  

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wholly-owned Subsidiary; provided that, in the case of such a merger, Company or such wholly-owned Subsidiary shall be the continuing or surviving
Person; 
 (ii) Company and its Subsidiaries may sell or otherwise dispose of assets in transactions that do not constitute
Asset Sales; provided that the consideration received for such assets shall be in an amount at least equal to the fair market value thereof; 
 (iii) Company and its Subsidiaries may dispose of obsolete, worn out or surplus property in the ordinary course of business; 
 (iv) Company and its Subsidiaries may make Asset Sales of assets (other than the Capital Stock or all or any material portion of any of
Standard Insurance Company or StanCorp Mortgage Investors LLC) having a fair market value in an aggregate amount not to exceed 10% of Consolidated Net Worth; 
 (v) Company or a Subsidiary may sell or dispose of shares of Capital Stock of any of its Subsidiaries in order to qualify members of the
Governing Body of the Subsidiary if required by applicable law; and 
 (vi) any Person may be merged with or into Company or
any Subsidiary if the acquisition of the Capital Stock of such Person by Company or such Subsidiary would have been permitted pursuant to subsection 7.2; provided that (a) in the case of Company, Company shall be the continuing or
surviving Person, (b) if a Subsidiary is not the surviving or continuing Person, the surviving Person becomes a Subsidiary and (c) no Potential Event of Default or Event of Default shall have occurred or be continuing after giving effect
thereto. 
  

	 	7.6	Transactions with Affiliates. 

 Company shall not, and shall not permit any of its Subsidiaries to, directly or indirectly, enter into or permit to exist any transaction (including the purchase, sale, lease or exchange of any property or the rendering of any service) of
any kind with any Affiliate of Company, whether or not in the ordinary course of business, other than on fair and reasonable terms substantially as favorable to Company or such Subsidiary as would be obtainable by Company or such Subsidiary at the
time in a comparable arm’s length transaction with a Person other than an Affiliate, provided that the foregoing restriction will not apply to transactions between or among the Company and any of its wholly-owned Subsidiaries or between and
among any wholly-owned Subsidiaries. 
  

	 	7.7	Conduct of Business. 

 From
and after the Closing Date, Company shall not, and shall not permit any of its Subsidiaries to, engage in any businesses that are material to Company and its Subsidiaries, taken as a whole, other than businesses in the financial services industry.

  

	 	7.8	Fiscal Year. 

 Company shall
not change its Fiscal Year-end from December 31. 
  

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	 	7.9	Subsidiary Indebtedness. 

 Company shall not permit any of its Subsidiaries to incur Indebtedness except: 
 (i) Indebtedness described in
Schedule 7.9 annexed hereto; 
 (ii) Indebtedness meeting the criteria described in clauses (A) and (B) of
subsection 7.1(A)(iii), so long as the aggregate principal amount of such Indebtedness does not exceed $25,000,000 at any one time outstanding; and 
 (iii) other Indebtedness of the Subsidiaries in an aggregate amount not to exceed 10% of Consolidated Net Worth. 
  

	Section 8. 	EVENTS OF DEFAULT 

 If any of the
following conditions or events (“Events of Default”) shall occur: 
  

	 	8.1	Failure to Make Payments When Due. 

 Failure by Company to pay any principal of any Loan when due, whether at stated maturity, by acceleration, by notice of voluntary prepayment, by mandatory prepayment or otherwise; failure by Company to pay when due any amount payable to an
Issuing Lender in reimbursement of any drawing under a Letter of Credit; or failure by Company to pay any interest on any Loan or any fee or any other amount due under this Agreement within five days after the date due; or 
  

	 	8.2	Default in Other Agreements. 

 (i) Failure of Company or any of its Subsidiaries to pay when due any principal of or interest on or any other amount payable in respect of one or more items of Indebtedness (other than Indebtedness referred to in subsection 8.1) or
Contingent Obligations with an aggregate principal amount of $20,000,000 or more, in each case beyond the end of any grace period provided therefor; or 
 (ii) breach or default by Company or any of its Subsidiaries with respect to any other material term of (a) one or more items of Indebtedness or Contingent Obligations in the aggregate principal amount referred
to in clause (i) above or (b) any loan agreement, mortgage, indenture or other agreement relating to such item(s) of Indebtedness or Contingent Obligation(s), if the effect of such breach or default is to cause, or to permit the holder or
holders of that Indebtedness or Contingent Obligation(s) (or a trustee on behalf of such holder or holders) to cause, that Indebtedness or Contingent Obligation(s) to become or be declared due and payable prior to its stated maturity or the stated
maturity of any underlying obligation, as the case may be (with all notices provided for therein having been given and all grace periods provided for therein having lapsed, such that no further notice or passage of time is required in order for such
holders or such trustee to exercise such right, other than notice of their or its election to exercise such right); or 
  

 67 

	 	8.3	Breach of Certain Covenants. 

 Failure of Company to perform or comply with any term or condition contained in subsections 2.5, 6.1(i), 6.2, 6.8 or Section 7 of this Agreement; or 
  

	 	8.4	Breach of Warranty. 

 Any
representation, warranty or certification made by Company in any Loan Document or in any certificate at any time given by Company in writing pursuant hereto or thereto or in connection herewith or therewith shall be false in any material respect on
the date as of which made; or 
  

	 	8.5	Other Defaults Under Loan Documents. 

 Company shall default in the performance of or compliance with any term contained in this Agreement or any of the other Loan Documents, other than any such term referred to or covered in any other subsection of this Section 8, and such
default shall not have been remedied or waived within 30 days after receipt by Company of notice from Administrative Agent or any Lender of such default; or 
  

	 	8.6	Involuntary Bankruptcy; Appointment of Receiver, etc. 

 (i) A court having jurisdiction in the premises shall enter a decree or order for relief in respect of Company or any of its Subsidiaries in an involuntary case under the Bankruptcy Code or under any other applicable
bankruptcy, insolvency or similar law now or hereafter in effect, which decree or order is not stayed; or any other similar relief shall be granted under any applicable federal or state law; or 
 (ii) an involuntary case shall be commenced against Company or any of its Subsidiaries under the Bankruptcy Code or under any other
applicable bankruptcy, insolvency or similar law now or hereafter in effect; or a decree or order of a court having jurisdiction in the premises for the appointment of a receiver, liquidator, sequestrator, trustee, conservator, custodian or other
officer having similar powers over Company or any of its Subsidiaries, or over all or a substantial part of its property, shall have been entered; or there shall have occurred the involuntary appointment of an interim receiver, trustee or other
custodian of Company or any of its Subsidiaries for all or a substantial part of its property; or a warrant of attachment, execution or similar process shall have been issued against any substantial part of the property of Company or any of its
Subsidiaries, and any such event described in this clause (ii) shall continue for 60 days unless dismissed, bonded or discharged; or 
  

	 	8.7	Voluntary Bankruptcy; Appointment of Receiver, etc. 

 (i) Company or any of its Subsidiaries shall have an order for relief entered with respect to it or commence a voluntary case under the Bankruptcy Code or under any other applicable bankruptcy, insolvency or similar
law now or hereafter in effect, or shall consent to the entry of an order for relief in an involuntary case, or to the conversion of an involuntary case to a voluntary case, under any such law, or shall consent to the 

  

 68 

 
appointment of or taking possession by a receiver, trustee or other custodian for all or a substantial part of its property; or Company or any of its
Subsidiaries shall make any assignment for the benefit of creditors; or 
 (ii) Company or any of its Subsidiaries shall be
unable, or shall fail generally, or shall admit in writing its inability, to pay its debts as such debts become due; or the Governing Body of Company or any of its Subsidiaries (or any committee thereof) shall adopt any resolution or otherwise
authorize any action to approve any of the actions referred to in clause (i) above or this clause (ii); or 
  

	 	8.8	Judgments and Attachments. 

 Any money judgment, writ or warrant of attachment or similar process involving in the aggregate at any time an amount in excess of $20,000,000 to the extent not adequately covered by insurance as to which a solvent and unaffiliated
insurance company has acknowledged coverage, shall be entered or filed against Company or any of its Subsidiaries or any of their respective assets and shall remain undischarged, unvacated, unbonded or unstayed for a period of 60 days (or in any
event later than five days prior to the date of any proposed sale thereunder); or 
  

	 	8.9	Dissolution. 

 Any order,
judgment or decree shall be entered against Company or any of its Subsidiaries decreeing the dissolution or split up of Company or that Subsidiary and such order shall remain undischarged or unstayed for a period in excess of 30 days; or 

 

	 	8.10	Employee Benefit Plans. 

 There shall occur one or more ERISA Events that individually or in the aggregate result in or would reasonably be expected to result in liability of Company in excess of $20,000,000; or there shall exist an amount of unfunded benefit
liabilities (as defined in Section 4001(a)(18) of ERISA), individually or in the aggregate for all Pension Plans to which Company or any of its Subsidiaries has contributed (excluding for purposes of such computation any Pension Plans with
respect to which assets exceed benefit liabilities), which would reasonably be expected to result in a Material Adverse Effect; or 
  

	 	8.11	Change in Control. 

 A Change
in Control shall have occurred; or 
  

	 	8.12	Licensing. 

 Any License of
any Regulated Subsidiary (a) shall be revoked by the Government Authority which issued such License, or any action (administrative or judicial) to revoke a License shall have been commenced against any Regulated Subsidiary and shall not have
been dismissed within 180 days after the commencement thereof, (b) shall be suspended by such Government Authority for a period in excess of thirty (30) days or (c) shall not be reissued or renewed by such Government Authority upon
the expiration thereof following application for 

  

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such reissuance or renewal by any Regulated Subsidiary, in each case to the extent such revocation, action, suspension, nonreissuance or nonrenewal would
reasonably be expected to have a Material Adverse Effect; or 
  

	 	8.13	Certain Proceedings. 

 Any
Regulated Subsidiary shall become subject to any conservation, rehabilitation or liquidation order, directive or mandate issued by any Government Authority or any Regulated Subsidiary shall become subject to any other directive or mandate issued by
any Government Authority which would reasonably be expected to have a Material Adverse Effect and which is not stayed within ten (10) days; or 
  

	 	8.14	Invalidity of Loan Documents; Repudiation of Obligations. 

 At any time after the execution and delivery thereof, (i) any Loan Document or any provision thereof, for any reason other than the satisfaction in full of all Obligations, shall cease to be in full force and
effect (other than in accordance with its terms) or shall be declared to be null and void, or (ii) Company shall contest the validity or enforceability of any Loan Document or any provision thereof in writing or deny in writing that it has any
further liability, including with respect to future advances by Lenders, under any Loan Document or any provision thereof: 
 THEN (i) upon the occurrence of any Event of Default described in subsection 8.6 or 8.7, each of (a) the unpaid principal amount of and accrued interest on the Loans, (b) an amount equal to the maximum amount that may at any time be
drawn under all Letters of Credit then outstanding (whether or not any beneficiary under any such Letter of Credit shall have presented, or shall be entitled at such time to present, the drafts or other documents or certificates required to draw
under such Letter of Credit), and (c) all other Obligations shall automatically become immediately due and payable, without presentment, demand, protest or other requirements of any kind, all of which are hereby expressly waived by Company, and
the obligation of each Lender to make any Loan, the obligation of Administrative Agent to issue any Letter of Credit and the right of any Lender to issue any Letter of Credit hereunder shall thereupon terminate (and Company shall become immediately
obligated to cash collateralize all Letters of Credit in a manner acceptable to Administrative Agent), and (ii) upon the occurrence and during the continuation of any other Event of Default, Administrative Agent shall, upon the written request or
with the written consent of Requisite Lenders, by written notice to Company, declare all or any portion of the amounts described in clauses (a) through (c) above to be, and the same shall forthwith become, immediately due and payable (and Company
shall immediately cash collateralize all Letters of Credit in a manner acceptable to Administrative Agent), and the obligation of each Lender to make any Loan, the obligation of Administrative Agent to issue any Letter of Credit and the right of any
Lender to issue any Letter of Credit hereunder shall thereupon terminate; provided that the foregoing shall not affect in any way the obligations of Lenders under subsection 3.3C(i) or the obligations of Lenders to purchase assignments of any
unpaid Swing Line Loans as provided in subsection 2.1A(ii). 
 Any cash collateral delivered hereunder shall be held by
Administrative Agent (without liability for interest thereon) and applied to Obligations arising in connection with any 

  

 70 

 
drawing under a Letter of Credit. After the expiration or termination of all Letters of Credit, such cash collateral shall be applied by the Administrative
Agent to any remaining Obligations and any excess shall be delivered to Company or as a court of competent jurisdiction may elect. 
  

	Section 9.	ADMINISTRATIVE AGENT 

  

	 	9.1	Appointment. 

 A.
Appointment of Administrative Agent. Wells Fargo is hereby appointed Administrative Agent hereunder and under the other Loan Documents. Each Lender hereby authorizes Administrative Agent to act as its agent in accordance with the terms of
this Agreement and the other Loan Documents. Wells Fargo agrees to act upon the express conditions contained in this Agreement and the other Loan Documents, as applicable. The provisions of this Section 9 are solely for the benefit of Agents
and Lenders and none of Company or any of its Subsidiaries shall have rights as a third party beneficiary of any of the provisions thereof. In performing its functions and duties under this Agreement, Administrative Agent (other than as provided in
subsection 2.1D) shall act solely as an agent of Lenders and does not assume and shall not be deemed to have assumed any obligation towards or relationship of agency or trust with or for Company or any of its Subsidiaries. 
  

	 	9.2	Powers and Duties; General Immunity. 

 A. Powers; Duties Specified. Each Lender irrevocably authorizes Administrative Agent to take such action on such Lender’s behalf and to exercise such powers, rights and remedies hereunder and under the other Loan
Documents as are specifically delegated or granted to Administrative Agent by the terms hereof and thereof, together with such powers, rights and remedies as are reasonably incidental thereto. Administrative Agent shall have only those duties and
responsibilities that are expressly specified in this Agreement and the other Loan Documents. Administrative Agent may exercise such powers, rights and remedies and perform such duties by or through its agents or employees. Administrative Agent
shall not have, by reason of this Agreement or any of the other Loan Documents, a fiduciary relationship in respect of any Lender or Company; and nothing in this Agreement or any of the other Loan Documents, expressed or implied, is intended to or
shall be so construed as to impose upon Administrative Agent any obligations in respect of this Agreement or any of the other Loan Documents except as expressly set forth herein or therein. 
 B. No Responsibility for Certain Matters. No Agent shall be responsible to any Lender for the execution, effectiveness,
genuineness, validity, enforceability, collectibility or sufficiency of this Agreement or any other Loan Document or for any representations, warranties, recitals or statements made herein or therein or made in any written or oral statements or in
any financial or other statements, instruments, reports or certificates or any other documents furnished or made by such Agent to Lenders or by or on behalf of Company to such Agent or any Lender in connection with the Loan Documents and the
transactions contemplated thereby or for the financial condition or business affairs of Company or any other Person liable for the payment of any Obligations, nor shall such Agent be required to ascertain or inquire as to the performance or
observance of any of the terms, conditions, provisions, covenants or agreements contained in any of the Loan Documents or as to the use of the proceeds of the Loans 

  

 71 

 
or the use of the Letters of Credit or as to the existence or possible existence of any Event of Default or Potential Event of Default. Anything contained in
this Agreement to the contrary notwithstanding, Administrative Agent shall not have any liability arising from confirmations of the amount of outstanding Loans or the Letter of Credit Usage or the component amounts thereof. 
 C. Exculpatory Provisions. No Agent or any of its officers, directors, employees or agents shall be liable to Lenders for
any action taken or omitted by such Agent under or in connection with any of the Loan Documents except to the extent caused by such Agent’s gross negligence or willful misconduct. An Agent shall be entitled to refrain from any act or the taking
of any action (including the failure to take an action) in connection with this Agreement or any of the other Loan Documents or from the exercise of any power, discretion or authority vested in it hereunder or thereunder unless and until such Agent
shall have received instructions in respect thereof from Requisite Lenders (or such other Lenders as may be required to give such instructions under subsection 10.6) and, upon receipt of such instructions from Requisite Lenders (or such other
Lenders, as the case may be), such Agent shall be entitled to act or (where so instructed) refrain from acting, or to exercise such power, discretion or authority, in accordance with such instructions; provided that no Agent shall be required
to take any action that, in its opinion or the opinion of its counsel, may expose such Agent to liability or that is contrary to any Loan Document or applicable law. Without prejudice to the generality of the foregoing, (i) each Agent shall be
entitled to rely, and shall be fully protected in relying, upon any communication (including any electronic message, Internet or intranet website posting or other distribution), instrument or document believed by it to be genuine and correct and to
have been signed or sent by the proper person or persons, and shall be entitled to rely and shall be protected in relying on opinions and judgments of attorneys (who may be attorneys for Company and its Subsidiaries), accountants, experts and other
professional advisors selected by it; and (ii) no Lender shall have any right of action whatsoever against an Agent as a result of such Agent acting or (where so instructed) refraining from acting under this Agreement or any of the other Loan
Documents in accordance with the instructions of Requisite Lenders (or such other Lenders as may be required to give such instructions under subsection 10.6). 
 D. Agents Entitled to Act as Lender. The agency hereby created shall in no way impair or affect any of the rights and powers
of, or impose any duties or obligations upon, an Agent in its individual capacity as a Lender hereunder. With respect to its participation in the Loans and the Letters of Credit, an Agent shall have the same rights and powers hereunder as any other
Lender and may exercise the same as though it were not performing the duties and functions delegated to it hereunder, and the term “Lender” or “Lenders” or any similar term shall, unless the context clearly otherwise indicates,
include each Agent in its individual capacity. An Agent and its Affiliates may accept deposits from, lend money to, acquire equity interests in and generally engage in any kind of commercial banking, investment banking, trust, financial advisory or
other business with Company or any of its Affiliates as if it were not performing the duties specified herein, and may accept fees and other consideration from Company for services in connection with this Agreement and otherwise without having to
account for the same to Lenders. 
  

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	 	9.3	Independent Investigation by Lenders; No Responsibility For Appraisal of Creditworthiness. 

 Each Lender agrees that it has made its own independent investigation of the financial condition and affairs of Company and its
Subsidiaries in connection with the making of the Loans and the issuance of Letters of Credit hereunder and that it has made and shall continue to make its own appraisal of the creditworthiness of Company and its Subsidiaries. No Agent shall have
any duty or responsibility, either initially or on a continuing basis, to make any such investigation or any such appraisal on behalf of Lenders or to provide any Lender with any credit or other information with respect thereto, whether coming into
its possession before the making of the Loans or at any time or times thereafter, and no Agent shall have any responsibility with respect to the accuracy of or the completeness of any information provided to Lenders. 
  

	 	9.4	Right to Indemnity. 

 Each
Lender, in proportion to its Pro Rata Share, severally agrees to indemnify each Agent and its officers, directors, employees, agents, attorneys, professional advisors and Affiliates to the extent that any such Person shall not have been reimbursed
by Company, for and against any and all liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses (including reasonable counsel fees and disbursements and fees and disbursements of any financial advisor engaged
by Agents) or disbursements of any kind or nature whatsoever which may be imposed on, incurred by or asserted against an Agent or such other Person in exercising the powers, rights and remedies of an Agent or performing duties of an Agent hereunder
or under the other Loan Documents or otherwise in its capacity as Agent in any way relating to or arising out of this Agreement or the other Loan Documents; provided that no Lender shall be liable for any portion of such liabilities,
obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses or disbursements of an Agent resulting from such Agent’s gross negligence or willful misconduct as determined by a final judgment of a court of competent
jurisdiction. If any indemnity furnished to an Agent or any other such Person for any purpose shall, in the opinion of such Agent, be insufficient or become impaired, such Agent may call for additional indemnity and cease, or not commence, to do the
acts indemnified against until such additional indemnity is furnished. 
  

	 	9.5	Resignation of Administrative Agent; Successor Administrative Agent and Swing Line Lender. 

 A. Resignation; Successor Administrative Agent. Administrative Agent may resign at any time by giving 30 days’ prior
written notice thereof to Lenders and Company. Upon any such notice of resignation by Administrative Agent, Requisite Lenders shall have the right, upon five Business Days’ notice to Company, to appoint a successor Administrative Agent. If no
such successor shall have been so appointed by Requisite Lenders and shall have accepted such appointment within 30 days after the retiring Administrative Agent gives notice of its resignation, the retiring Administrative Agent may, on behalf of
Lenders, appoint a successor Administrative Agent. If Administrative Agent shall notify Lenders and Company that no Person has accepted such appointment as successor Administrative Agent, such resignation shall nonetheless become effective in
accordance with Administrative Agent’s notice and (i) the retiring Administrative Agent shall be discharged from its duties and obligations under the Loan 

  

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Documents, and (ii) all payments, communications and determinations provided to be made by, to or through Administrative Agent shall instead be made by,
to or through each Lender directly, until such time as Requisite Lenders appoint a successor Administrative Agent in accordance with this subsection 9.5A. Upon the acceptance of any appointment as Administrative Agent hereunder by a successor
Administrative Agent, that successor Administrative Agent shall thereupon succeed to and become vested with all the rights, powers, privileges and duties of the retiring Administrative Agent and the retiring Administrative Agent shall be discharged
from its duties and obligations under this Agreement (if not already discharged as set forth above). After any retiring Agent’s resignation hereunder, the provisions of this Section 9 shall inure to its benefit as to any actions taken or
omitted to be taken by it while it was an Agent under this Agreement. 
 B. Successor Swing Line Lender. Any
resignation of Administrative Agent pursuant to subsection 9.5A shall also constitute the resignation of Wells Fargo or its successor as a Swing Line Lender, and any successor Administrative Agent appointed pursuant to subsection 9.5A shall, upon
its acceptance of such appointment, become a successor Swing Line Lender for all purposes hereunder. In such event (i) Company shall prepay any outstanding Swing Line Loans made by the retiring Administrative Agent in its capacity as a Swing
Line Lender, (ii) upon such prepayment, the retiring Administrative Agent and Swing Line Lender shall surrender any Swing Line Note held by it to Company for cancellation, and (iii) if so requested by the successor Administrative Agent and
Swing Line Lender in accordance with subsection 2.1E, Company shall issue a Swing Line Note to the successor Administrative Agent and Swing Line Lender substantially in the form of Exhibit V annexed hereto, in the amount of the Swing Line
Loan Commitment then in effect and with other appropriate insertions. 
  

	 	9.6	Duties of Other Agents. 

 To
the extent that any Lender is identified in this Agreement as a co-agent, documentation agent or syndication agent, such Lender shall not have any right, power, obligation, liability, responsibility or duty under this Agreement other than those
applicable to all Lenders as such. Without limiting the foregoing, none of such Lenders shall have or be deemed to have a fiduciary relationship with any Lender. 
  

	 	9.7	Administrative Agent May File Proofs of Claim. 

 In case of the pendency of any receivership, insolvency, liquidation, bankruptcy, reorganization, arrangement, adjustment, composition or other judicial proceeding relative to Company or any of the Subsidiaries of
Company, Administrative Agent (irrespective of whether the principal of any Loan shall then be due and payable as herein expressed or by declaration or otherwise and irrespective of whether Administrative Agent shall have made any demand on Company)
shall be entitled and empowered, by intervention in such proceeding or otherwise 
 (i) to file and prove a claim for the
whole amount of principal and interest owing and unpaid in respect of the Loans and any other Obligations that are owing and unpaid and to file such other papers or documents as may be necessary or advisable in order to have the claims of Lenders
and Administrative Agent (including any claim for the reasonable compensation, expenses, disbursements and advances of Lenders and 

  

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Administrative Agent and its agents and counsel and all other amounts due Lenders and Agents under subsections 2.3 and 10.2) allowed in such judicial
proceeding, and 
 (ii) to collect and receive any moneys or other property payable or deliverable on any such claims and to
distribute the same; 
 and any custodian, receiver, assignee, trustee, liquidator, sequestrator or other similar official in any such
judicial proceeding is hereby authorized by each Lender to make such payments to Administrative Agent and, in the event that Administrative Agent shall consent to the making of such payments directly to Lenders, to pay to Administrative Agent any
amount due for the reasonable compensation, expenses, disbursements and advances of Administrative Agent and its agents and counsel, and any other amounts due Agents under subsections 2.3 and 10.2. 
 Nothing herein contained shall be deemed to authorize Administrative Agent to authorize or consent to or accept or adopt on behalf of any
Lender any plan of reorganization, arrangement, adjustment or composition affecting the Obligations or the rights of any Lenders or to authorize Administrative Agent to vote in respect of the claim of any Lender in any such proceeding. 

 

	Section 10.	MISCELLANEOUS 

  

	 	10.1 	Successors and Assigns; Assignments and Participations in Loans and Letters of Credit. 

 A. General. This Agreement shall be binding upon the parties hereto and their respective successors and assigns and shall
inure to the benefit of the parties hereto and the successors and assigns of Lenders (it being understood that Lenders’ rights of assignment are subject to the further provisions of this subsection 10.1). Neither Company’s rights nor
obligations hereunder nor any interest therein may be assigned or delegated by Company without the prior written consent of all Lenders (and any attempted assignment or transfer by Company without such consent shall be null and void). No sale,
assignment or transfer or participation of any obligations of a Lender in respect of a Letter of Credit or any participation therein may be made separately from a sale, assignment, transfer or participation of a corresponding interest in the
Revolving Loan Commitment and the Revolving Loans of the Lender effecting such sale, assignment, transfer or participation. Anything contained herein to the contrary notwithstanding, except as provided in subsection 2.1A(ii) and subsection 10.5, the
Swing Line Loan Commitment and the Swing Line Loans of any Swing Line Lender may not be sold, assigned or transferred as described below to any Person other than a successor Administrative Agent and Swing Line Lender to the extent contemplated by
subsection 9.5. Nothing in this Agreement, expressed or implied, shall be construed to confer upon any Person (other than the parties hereto, their respective successors and assigns permitted hereby and, to the extent expressly contemplated hereby,
the Affiliates of each of Administrative Agent and Lenders and Indemnitees) any legal or equitable right, remedy or claim under or by reason of this Agreement. 
 B. Assignments. 
 (i) Amounts and Terms of Assignments. Any Lender may assign to one or more Eligible Assignees all or any portion of its rights and obligations under this 

  

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Agreement; provided that (a), except (1) in the case of an assignment of the entire remaining amount of the assigning Lender’s rights and
obligations under this Agreement or (2) in the case of an assignment to a Lender or an Affiliate of a Lender or an Approved Fund of a Lender, the aggregate amount of the Revolving Loan Exposure of the assigning Lender and the assignee subject
to each such assignment shall not be less than $5,000,000, unless Administrative Agent otherwise consents (such consent not to be unreasonably withheld or delayed), provided that simultaneous assignments to or by two or more related Funds shall be
treated as one assignment for purposes of this clause (a), (b) each partial assignment shall be made as an assignment of a proportionate part of all the assigning Lender’s rights and obligations under this Agreement with respect to the
Loan or the Commitment assigned; and any assignment of all or any portion of a Revolving Loan Commitment, Revolving Loan or Letter of Credit participation shall be made only as an assignment of the same proportionate part of the assigning
Lender’s Revolving Loan Commitment, Revolving Loans and Letter of Credit participations, (c) the parties to each assignment shall execute and deliver to Administrative Agent an Assignment Agreement, together with a processing and
recordation fee of $3,500, and the Eligible Assignee, if it shall not already be a Lender, shall deliver to Administrative Agent information reasonably requested by Administrative Agent, including forms, certificates or other information in
compliance with subsection 2.7B(iv) and (d), except in the case of an assignment to another Lender, an Affiliate of a Lender (provided that such Affiliate has a long-term non-credit enhanced unsecured debt rating of at least A- (in the case of
S&P) or A3 (in the case of Moody’s)) or an Approved Fund of a Lender, Administrative Agent and, if no Event of Default has occurred and is continuing, Company, shall have consented thereto (which consent shall not be unreasonably withheld).

 Upon such execution, delivery and consent, from and after the effective date specified in such Assignment Agreement,
(y) the assignee thereunder shall be a party hereto and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment Agreement, shall have the rights and obligations of a Lender hereunder and
(z) the assigning Lender thereunder shall, to the extent that rights and obligations hereunder have been assigned by it pursuant to such Assignment Agreement, relinquish its rights (other than any rights which survive the termination of this
Agreement under subsection 10.9B) and be released from its obligations under this Agreement (and, in the case of an Assignment Agreement covering all or the remaining portion of an assigning Lender’s rights and obligations under this Agreement,
such Lender shall cease to be a party hereto; provided that, anything contained in any of the Loan Documents to the contrary notwithstanding, if such Lender is an Issuing Lender such Lender shall continue to have all rights and obligations of an
Issuing Lender until the cancellation or expiration of any Letters of Credit issued by it and the reimbursement of any amounts drawn thereunder). The assigning Lender shall, upon the effectiveness of such assignment or as promptly thereafter as
practicable, surrender its Notes, if any, to Administrative Agent for cancellation, and thereupon new Notes shall, if so requested by the assignee and/or the assigning Lender in accordance with subsection 2.1E, be issued to the assignee and/or to
the assigning Lender, substantially in the form of Exhibit IV or Exhibit V annexed hereto, as the case may be, with appropriate insertions, to reflect the amounts of the new Commitments and/or outstanding Revolving Loans, as the case
may 

  

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be, of the assignee and/or the assigning Lender. Other than as provided in subsection 2.1A(ii) and subsection 10.5, any assignment or transfer by a Lender of
rights or obligations under this Agreement that does not comply with this subsection 10.1B shall be treated for purposes of this Agreement as a sale by such Lender of a participation in such rights and obligations in accordance with subsection
10.1C. 
 (ii) Acceptance by Administrative Agent; Recordation in Register. Upon its receipt of an Assignment Agreement
executed by an assigning Lender and an assignee representing that it is an Eligible Assignee, together with the processing and recordation fee referred to in subsection 10.1B(i) and any forms, certificates or other evidence with respect to United
States federal income tax withholding matters that such assignee may be required to deliver to Administrative Agent pursuant to subsection 2.7B(iv), Administrative Agent shall, if Administrative Agent and Company have consented to the assignment
evidenced thereby (in each case to the extent such consent is required pursuant to subsection 10.1B(i)), (a) accept such Assignment Agreement by executing a counterpart thereof as provided therein (which acceptance shall evidence any required
consent of Administrative Agent to such assignment), (b) record the information contained therein in the Register, and (c) give prompt notice thereof to Company. Administrative Agent shall maintain a copy of each Assignment Agreement
delivered to and accepted by it as provided in this subsection 10.1B(ii). 
 (iii) Deemed Consent by Company. If the
consent of Company to an assignment or to an Eligible Assignee is required hereunder, Company shall be deemed to have given its consent five Business Days after the date notice thereof has been delivered by the assigning Lender (through
Administrative Agent) unless such consent is expressly refused by Company prior to such fifth Business Day. 
 C.
Participations. Any Lender may, without the consent of, or notice to, Company or Administrative Agent, sell participations to one or more Persons (other than a natural Person or Company or any of its Affiliates) in all or a portion of such
Lender’s rights and/or obligations under this Agreement; provided that (i) such Lender’s obligations under this Agreement shall remain unchanged, (ii) such Lender shall remain solely responsible to the other parties hereto
for the performance of such obligations and (iii) Company, Administrative Agent and Lenders shall continue to deal solely and directly with such Lender in connection with such Lender’s rights and obligations under this Agreement. Any
agreement or instrument pursuant to which a Lender sells such a participation shall provide that such Lender shall retain the sole right to enforce this Agreement and to approve any amendment, modification or waiver of any provision of this
Agreement; provided that such agreement or instrument may provide that such Lender will not, without the consent of the Participant, agree to any amendment, modification or waiver directly affecting (i) the extension of the scheduled
final maturity date of any Loan allocated to such participation, (ii) any mandatory prepayment required to be made pursuant to Section 2.4A(iii) or (iii) a reduction of the principal amount of or the rate of interest payable on any
Loan allocated to such participation. Subject to the further provisions of this subsection 10.1C, Company agrees that each Participant shall be entitled to the benefits of subsections 2.6D and 2.7 to the same extent as if it were a Lender and had
acquired its interest by assignment pursuant to subsection 10.1B. To the extent permitted by law, each Participant also shall be entitled to the benefits of subsection 10.4 as though it were a Lender, provided such Participant 

  

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agrees to be subject to subsection 10.5 as though it were a Lender. A Participant shall not be entitled to receive any greater payment under subsections 2.6D
and 2.7A than the applicable Lender would have been entitled to receive with respect to the participation sold to such Participant unless the sale of the participation to such Participant is made with Company’s prior written consent. No
Participant shall be entitled to the benefits of subsection 2.7 unless Company is notified of the participation sold to such Participant and such Participant agrees, for the benefit of Company, to comply with subsection 2.7B(iv) as though it were a
Lender. 
 D. Pledges and Assignments. Any Lender may, without the consent of Administrative Agent or Company,
at any time pledge or assign a security interest in all or any portion of its Loans, and the other Obligations owed to such Lender, to secure obligations of such Lender, including without limitation (A) any pledge or assignment to secure
obligations to any Federal Reserve Bank and (B) in the case of any Lender that is a Fund, any pledge or assignment to any holders of obligations owed, or securities issued, by such Lender including to any trustee for, or any other
representative of, such holders; provided that (i) no Lender shall be relieved of any of its obligations hereunder as a result of any such assignment or pledge and (ii) in no event shall any assignee or pledgee be considered to be a
“Lender” or be entitled to require the assigning Lender to take or omit to take any action hereunder. 
 E.
Information. Each Lender may furnish any information concerning Company and its Subsidiaries in the possession of that Lender from time to time to pledgees under subsection 10.10D, assignees and participants (including prospective assignees
and participants), in each case subject to subsection 10.18. 
 F. Agreements of Lenders. Each Lender listed on
the signature pages hereof hereby agrees, and each Lender that becomes a party hereto pursuant to an Assignment Agreement shall be deemed to agree, (i) that it is an Eligible Assignee described in clause (ii) of the definition thereof;
(ii) that it has experience and expertise in the making of or purchasing loans such as the Loans; and (iii) that it will make or purchase Loans for its own account in the ordinary course of its business and without a view to distribution
of such Loans within the meaning of the Securities Act or the Exchange Act or other federal securities laws (it being understood that, subject to the provisions of this subsection 10.1, the disposition of such Loans or any interests therein shall at
all times remain within its exclusive control). 
  

	 	10.2 	Expenses. 

 Whether or not
the transactions contemplated hereby shall be consummated, Company agrees to pay promptly (i) all reasonable out-of-pocket costs and expenses incurred by Administrative Agent, including fees, expenses and disbursements of counsel to the
Administrative Agent, in connection with the negotiation, preparation, execution and administration of the Loan Documents and any consents, amendments, waivers or other modifications thereto and any other documents or matters requested by Company;
(ii) all other reasonable costs and expenses incurred by the Administrative Agent in connection with the syndication of the Commitments; (iii) all reasonable costs and expenses, including reasonable attorneys’ fees (including
allocated costs of internal counsel) and reasonable fees, costs and expenses of accountants, advisors and consultants, incurred by Administrative Agent and its counsel at any time when an Event of Default has occurred and is continuing, relating to
efforts 

  

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to evaluate or assess Company or any of its Subsidiaries and its business or financial condition; and (iv) all reasonable costs and expenses, including
reasonable attorneys’ fees (including allocated costs of internal counsel), reasonable fees, costs and expenses of accountants, advisors and consultants and costs of settlement, incurred by Administrative Agent and Lenders in enforcing any
Obligations of or in collecting any payments due from Company hereunder or under the other Loan Documents (including in connection with the enforcement of the Loan Documents) or in connection with any refinancing or restructuring of the credit
arrangements provided under this Agreement in the nature of a “work-out” or pursuant to any insolvency or bankruptcy proceedings; provided, that with respect to Lenders other than Administrative Agent, Company shall not be required
to pay the costs and expenses of more than one counsel. 
  

	 	10.3 	Indemnity. 

 In addition to
the payment of expenses pursuant to subsection 10.2, whether or not the transactions contemplated hereby shall be consummated, Company agrees to indemnify, pay and hold harmless Administrative Agent and Lenders (including Issuing Lenders), and the
officers, directors, trustees, employees, agents, advisors and Affiliates of Administrative Agent and Lenders (collectively called the “Indemnitees”), from and against any and all Indemnified Liabilities (as hereinafter defined);
provided that Company shall not have any obligation to any Indemnitee hereunder with respect to any Indemnified Liabilities to the extent such Indemnified Liabilities arise from the gross negligence or willful misconduct of that Indemnitee as
determined by a final judgment of a court of competent jurisdiction. 
 As used herein, “Indemnified
Liabilities” means, collectively, any and all liabilities, obligations, losses, damages (including natural resource damages) penalties, actions, judgments, suits, claims (including Environmental Claims), costs (including the costs of any
investigation, study, sampling, testing, abatement, cleanup, removal, remediation or other response action necessary to remove, remediate, clean up or abate any Hazardous Materials Activity), expenses and disbursements of any kind or nature
whatsoever (including the reasonable fees and disbursements of counsel for Indemnitees in connection with any investigative, administrative or judicial proceeding commenced or threatened by any Person, whether or not any such Indemnitee shall be
designated as a party or a potential party thereto, and any fees or expenses incurred by Indemnitees in enforcing this indemnity), whether direct, indirect or consequential and whether based on any federal, state or foreign laws, statutes, rules or
regulations (including securities and commercial laws, statutes, rules or regulations and Environmental Laws), on common law or equitable cause or on contract or otherwise, that may be imposed on, incurred by, or asserted against any such
Indemnitee, in any manner relating to or arising out of (i) this Agreement or the other Loan Documents or the transactions contemplated hereby or thereby (including Lenders’ agreement to make the Loans hereunder or the use or intended use
of the proceeds thereof or the issuance of Letters of Credit hereunder or the use or intended use of any thereof, the failure of an Issuing Lender to honor a drawing under a Letter of Credit as a result of any act or omission, whether rightful or
wrongful, of any present or future de jure or de facto Government Authority, or any enforcement of any of the Loan Documents) or (ii) any Environmental Claim or any Hazardous Materials Activity relating to or arising from, directly or
indirectly, any past or present activity, operation, land ownership, or practice of Company or any of its Subsidiaries. 
  

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 To the extent that the undertakings to indemnify, pay and hold harmless set forth in this
subsection 10.3 may be unenforceable in whole or in part because they are violative of any law or public policy, Company shall contribute the maximum portion that it is permitted to pay and satisfy under applicable law to the payment and
satisfaction of all Indemnified Liabilities incurred by Indemnitees or any of them. 
  

	 	10.4 	Set-Off. 

 In addition to any
rights now or hereafter granted under applicable law and not by way of limitation of any such rights, upon the occurrence and during the continuation of any Event of Default each of Lenders and their Affiliates is hereby authorized by Company at any
time or from time to time, without notice to Company or to any other Person, any such notice being hereby expressly waived, to set off and to appropriate and to apply any and all deposits (general or special, time or demand, provisional or final,
including Indebtedness evidenced by certificates of deposit, whether matured or unmatured, but not including trust accounts) and any other Indebtedness at any time held or owing by that Lender or any Affiliate of that Lender to or for the credit or
the account of Company against and on account of the Obligations of Company to that Lender (or any Affiliate of that Lender) or to any other Lender (or any Affiliate of any other Lender) under this Agreement, the Letters of Credit and participations
therein and the other Loan Documents, including all claims of any nature or description arising out of or connected with this Agreement, the Letters of Credit and participations therein or any other Loan Document, irrespective of whether or not
(i) that Lender shall have made any demand hereunder or (ii) the principal of or the interest on the Loans or any amounts in respect of the Letters of Credit or any other amounts due hereunder shall have become due and payable pursuant to
Section 8 and although said obligations and liabilities, or any of them, may be contingent or unmatured. 
  

	 	10.5 	Ratable Sharing. 

 Lenders
hereby agree among themselves that if any of them shall, whether by voluntary or mandatory payment (other than a payment or prepayment of Loans made and applied in accordance with the terms of this Agreement), by realization upon security, through
the exercise of any right of set-off or banker’s lien, by counterclaim or cross action or by the enforcement of any right under the Loan Documents or otherwise, or as adequate protection of a deposit treated as cash collateral under the
Bankruptcy Code, receive payment or reduction of a proportion of the aggregate amount of principal, interest, amounts payable in respect of Letters of Credit, fees and other amounts then due and owing to that Lender hereunder or under the other Loan
Documents (collectively, the “Aggregate Amounts Due” to such Lender) that is greater than the proportion received by any other Lender in respect of the Aggregate Amounts Due to such other Lender, then the Lender receiving such
proportionately greater payment shall, unless such proportionately greater payment is required by the terms of this Agreement, (i) notify Administrative Agent and each other Lender of the receipt of such payment and (ii) apply a portion of
such payment to purchase assignments (which it shall be deemed to have purchased from each seller of an assignment simultaneously upon the receipt by such seller of its portion of such payment) of the Aggregate Amounts Due to the other Lenders so
that all such recoveries of Aggregate Amounts Due shall be shared by all Lenders in proportion to the Aggregate Amounts Due to them; provided that (A) if all or part of such proportionately greater payment received by 

  

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such purchasing Lender is thereafter recovered from such Lender upon the bankruptcy or reorganization of Company or otherwise, those purchases shall be
rescinded and the purchase prices paid for such assignments shall be returned to such purchasing Lender ratably to the extent of such recovery, but without interest and (B) the foregoing provisions shall not apply to (1) any payment made
by Company pursuant to and in accordance with the express terms of this Agreement or (2) any payment obtained by a Lender as consideration for the assignment (other than an assignment pursuant to this subsection 10.5) of or the sale of a
participation in any of its Obligations to any Eligible Assignee or Participant pursuant to subsection 10.1B. Company expressly consents to the foregoing arrangement and agrees that any purchaser of an assignment so purchased may exercise any and
all rights of a Lender as to such assignment as fully as if that Lender had complied with the provisions of subsection 10.1B with respect to such assignment. In order to further evidence such assignment (and without prejudice to the effectiveness of
the assignment provisions set forth above), each purchasing Lender and each selling Lender agree to enter into an Assignment Agreement at the request of a selling Lender or a purchasing Lender, as the case may be, in form and substance reasonably
satisfactory to each such Lender. 
  

	 	10.6 	Amendments and Waivers. 

 No
amendment, modification, termination or waiver of any provision of this Agreement or of the Notes, and no consent to any departure by Company therefrom, shall in any event be effective without the written concurrence of Requisite Lenders; provided
that no such amendment, modification, termination, waiver or consent shall, without the consent of: 
 (i) each Lender with
Obligations directly affected (whose consent shall be sufficient for any such amendment, modification, termination or waiver without the consent of Requisite Lenders) (1) reduce or forgive the principal amount of any Loan, (2) postpone the
scheduled final maturity date of any Loan (but not the date of any scheduled installment of principal), (3) postpone the date on which any interest or any fees are payable, (4) decrease the interest rate borne by any Loan (other than any
waiver of any increase in the interest rate applicable to any of the Loans pursuant to subsection 2.2E) or the amount of any fees payable hereunder (other than any waiver of any increase in the fees applicable to Letters of Credit pursuant to
subsection 3.2 following an Event of Default), (5) reduce the amount or postpone the due date of any amount payable in respect of any Letter of Credit reimbursement obligation, (6) extend the expiration date of any Letter of Credit beyond
the Revolving Loan Commitment Termination Date, (7) except as provided in subsection 2.11, extend the Revolving Commitment Termination Date, (8) change in any manner the obligations of Lenders relating to the purchase of participations in
Letters of Credit or (9) change in any manner the provisions of subsection 2.4B to provide that Lenders will not share pro rata in reductions of the Revolving Loan Commitment Amount; 
 (ii) each Lender, (1) change in any manner the definition of “Pro Rata Share” or the definition of “Requisite
Lenders” (except for any changes resulting solely from an increase in the aggregate amount of the Commitments approved by Requisite Lenders), (2) change the provisions of subsection 2.4B(iii) to provide that Lenders will not share pro rata
in payments, (3) change in any manner any provision of this Agreement that, by its terms, expressly requires the approval or concurrence of all Lenders, (4) increase the 

  

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maximum duration of Interest Periods permitted hereunder, or (5) change in any manner or waive the provisions contained in subsection 2.4A(iii),
subsection 8.1, subsection 10.5 or this subsection 10.6. 
 In addition, no amendment, modification, termination or waiver of
any provision (i) of any Note shall be effective without the written concurrence of the Lender which is the holder of that Note, (ii) of subsection 2.1A(ii) or of any other provision of this Agreement relating to the Swing Line Loan
Commitment or the Swing Line Loans shall be effective without the written concurrence of each affected Swing Line Lender, (iii) of Section 3 shall be effective without the written concurrence of Administrative Agent and, with respect to
the purchase of participations in Letters of Credit, without the written concurrence of each Issuing Lender that has issued an outstanding Letter of Credit or has not been reimbursed for a payment under a Letter of Credit, (iv) of
Section 9 or of any other provision of this Agreement which, by its terms, expressly requires the approval or concurrence of Administrative Agent shall be effective without the written concurrence of Administrative Agent; and (v) that
increases the amount of a Commitment of a Lender shall be effective without the consent of such Lender. 
 Administrative
Agent may, but shall have no obligation to, with the concurrence of any Lender, execute amendments, modifications, waivers or consents on behalf of that Lender. Any waiver or consent shall be effective only in the specific instance and for the
specific purpose for which it was given. No notice to or demand on Company in any case shall entitle Company to any other or further notice or demand in similar or other circumstances. Any amendment, modification, termination, waiver or consent
effected in accordance with this subsection 10.6 shall be binding upon each Lender at the time outstanding, each future Lender and, if signed by Company, on Company. 
 Notwithstanding anything to the contrary herein, no Defaulting Lender shall have any right to approve or disapprove any amendment, waiver
or consent hereunder, except that the Commitment of such Lender may not be increased or extended without the consent of such Lender. 
  

	 	10.7 	Independence of Covenants. 

 All covenants
hereunder shall be given independent effect so that if a particular action or condition is not permitted by any of such covenants, the fact that it would be permitted by an exception to, or would otherwise be within the limitations of, another
covenant shall not avoid the occurrence of an Event of Default or Potential Event of Default if such action is taken or condition exists. 
  

	 	10.8 	Notices; Effectiveness of Signatures; Posting on Electronic Delivery Systems. 

 A. Notices. Unless otherwise specifically provided herein, any notice or other communication herein required or permitted to be
given shall be in writing and may be personally served, or sent by telefacsimile, electronic mail (subject to paragraph B below), or United States mail or courier service and shall be deemed to have been given when delivered in person or by courier
service, upon receipt of telefacsimile or electronic mail in complete and legible form, or three Business Days after depositing it in the United States mail with postage 

  

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prepaid and properly addressed; provided that notices to Administrative Agent, any Swing Line Lender and any Issuing Lender shall not be effective
until received. For the purposes hereof, the address of Company, Administrative Agent, Swing Line Lenders and the Issuing Lender shall be as set forth on Schedule 10.8 and the address of each other Lender shall be as set forth on its Administrative
Questionnaire or (i) as to Company and Administrative Agent, such other address as shall be designated by such Person in a written notice delivered to the other parties hereto and (ii) as to each other party, such other address as shall be
designated by such party in a written notice delivered to Administrative Agent. Electronic mail and Internet and intranet websites may be used to distribute routine communications, such as financial statements and other information as provided in
subsection 6.1. Administrative Agent or Company may, in its discretion, agree to accept notices and other communications to it hereunder by electronic communications pursuant to procedures approved by it, provided that approval of such
procedures may be limited to particular notices or communications. 
 B. Effectiveness of Signatures. Loan Documents
and notices under the Loan Documents may be transmitted and/or signed by telefacsimile and by signatures delivered in ‘PDF’ format by electronic mail. The effectiveness of any such documents and signatures shall, subject to applicable law,
have the same force and effect as an original copy with manual signatures and shall be binding on Company, Agents and Lenders. Administrative Agent may also require that any such documents and signature be confirmed by a manually-signed copy
thereof; provided, however, that the failure to request or deliver any such manually-signed copy shall not affect the effectiveness of any facsimile document or signature. 
 C. Posting on Electronic Delivery Systems. Company acknowledges and agrees that (I) Administrative Agent may make any material
delivered by Company to Administrative Agent, as well as any amendments, waivers, consents, and other written information, documents, instruments and other materials relating to Company, any of its Subsidiaries, or any other materials or matters
relating to this Agreement, the Notes or any of the transactions contemplated hereby (collectively, the “Communications”), available to the Lenders by posting such notices on an electronic delivery system (which may be provided by
Administrative Agent, an Affiliate of Administrative Agent, or any Person that is not an Affiliate of Administrative Agent), such as IntraLinks, or a substantially similar electronic system (the “Platform”) and (II) certain of the
Lenders may be “public-side” Lenders (i.e., Lenders that do not wish to receive material non-public information with respect to Company or its securities) (each, a “Public Lender”). Company acknowledges that (i) the
distribution of material through an electronic medium is not necessarily secure and that there are confidentiality and other risks associated with such distribution; (ii) the Platform is provided “as is” and “as available”
and (iii) neither Administrative Agent nor any of its Affiliates warrants the accuracy, completeness, timeliness, sufficiency, or sequencing of the Communications posted on the Platform. Administrative Agent and its Affiliates expressly
disclaim with respect to the Platform any liability for errors in transmission, incorrect or incomplete downloading, delays in posting or delivery, or problems accessing the Communications posted on the Platform and any liability for any losses,
costs, expenses or liabilities that may be suffered or incurred in connection with the Platform. No warranty of any kind, express, implied or statutory, including, without limitation, any warranty of merchantability, fitness for a particular
purpose, non-infringement of third party rights or freedom from viruses or other code defects, is made by Administrative Agent or any of its Affiliates in connection with the Platform. 
  

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 The Company hereby agrees that (w) all Communications that are to be made available
to Public Lenders shall be clearly and conspicuously marked “PUBLIC” which, at a minimum, shall mean that the word “PUBLIC” shall appear prominently on the first page thereof; (x) by marking Communications
“PUBLIC”, Company shall be deemed to have authorized Administrative Agent, any Issuing Lender and the Lenders to treat such Communications as not containing any material non-public information with respect to Company or its securities for
purposes of United States Federal and state securities laws (provided, however, that to the extent such Communications constitute confidential information pursuant to subsection 10.18, they shall be treated as set forth in such subsection);
(y) all Communications marked “PUBLIC” are permitted to be made available through a portion of the Platform designated “Public Investor”; and (z) Administrative Agent shall be entitled to treat any Communications that
are not marked “PUBLIC” as being suitable only for posting on a portion of the Platform not designated “Public Investor”. 
 Each Lender agrees that notice to it (as provided in the next sentence) (a “Notice”) specifying that any Communication has been posted to the Platform shall for purposes of this Agreement constitute
effective delivery to such Lender of such information, documents or other materials comprising such Communication. Each Lender agrees (i) to notify, on or before the date such Lender becomes a party to this Agreement (pursuant to an
Administrative Questionnaire or otherwise), Administrative Agent in writing of such Lender’s e-mail address to which a Notice may be sent (and from time to time thereafter to ensure that Administrative Agent has on record an effective e-mail
address for such Lender) and (ii) that any Notice may be sent to such e-mail address. Notwithstanding the foregoing, Company shall not be responsible for any failure of the Platform or for the inability of any Lender to access any Communication
made available by Company to Administrative Agent in connection with the Platform and in no event shall any such failure constitute an Event of Default hereunder. 
  

	 	10.9 	Survival of Representations, Warranties and Agreements. 

 A. All representations, warranties and agreements made herein shall survive the execution and delivery of this Agreement and the making of the Loans and the issuance of the Letters of Credit hereunder. 
 B. Notwithstanding anything in this Agreement or implied by law to the contrary, the agreements of Company set forth in subsections 2.6D,
2.7, 10.2, 10.3, 10.4, 10.16 and 10.17 and the agreements of Lenders set forth in subsections 9.2C, 9.4, 10.5 and 10.17 shall survive the payment of the Loans, the cancellation or expiration of the Letters of Credit and the reimbursement of any
amounts drawn thereunder, and the termination of this Agreement. 
  

	 	10.10 	Failure or Indulgence Not Waiver; Remedies Cumulative. 

 No failure or delay on the part of an Agent or any Lender in the exercise of any power, right or privilege hereunder or under any other Loan Document shall impair such power, right or privilege or be construed to be a
waiver of any default or acquiescence therein, nor shall any single or partial exercise of any such power, right or privilege preclude other or further exercise thereof or of any other power, right or privilege. All rights and remedies existing
under this Agreement and the other Loan Documents are cumulative to, and not exclusive of, any rights or remedies otherwise available. 
  

 84 

	 	10.11 	Marshalling; Payments Set Aside. 

 Neither any Agent nor any Lender shall be under any obligation to marshal any assets in favor of Company or any other party or against or in payment of any or all of the Obligations. To the extent that Company makes a payment or payments to
Administrative Agent or Lenders (or to Administrative Agent for the benefit of Lenders), or Agents or Lenders enforce any security interests or exercise their rights of setoff, and such payment or payments or the proceeds of such enforcement or
setoff or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside and/or required to be repaid to a trustee, receiver or any other party under any bankruptcy law, any other state or federal law, common law
or any equitable cause, then, to the extent of such recovery, the obligation or part thereof originally intended to be satisfied, and all Liens, rights and remedies therefor or related thereto, shall be revived and continued in full force and effect
as if such payment or payments had not been made or such enforcement or setoff had not occurred. 
  

	 	10.12 	Severability. 

 In case any
provision in or obligation under this Agreement or the Notes shall be invalid, illegal or unenforceable in any jurisdiction, the validity, legality and enforceability of the remaining provisions or obligations, or of such provision or obligation in
any other jurisdiction, shall not in any way be affected or impaired thereby. 
  

	 	10.13 	Obligations Several; Independent Nature of Lenders’ Rights; Damage Waiver. 

 The obligations of Lenders hereunder are several and no Lender shall be responsible for the obligations or Commitments of any other Lender
hereunder. Nothing contained herein or in any other Loan Document, and no action taken by Lenders pursuant hereto or thereto, shall be deemed to constitute Lenders, or Lenders and Company, as a partnership, an association, a joint venture or any
other kind of entity. The amounts payable at any time hereunder to each Lender shall be a separate and independent debt, and, subject to subsection 9.6, each Lender shall be entitled to protect and enforce its rights arising out of this Agreement
and it shall not be necessary for any other Lender to be joined as an additional party in any proceeding for such purpose. 
 To the extent permitted by law, Company shall not assert, and hereby waives, any claim against any Indemnitee, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages)
arising out of, in connection with or as a result of this Agreement (including, without limitation, subsection 2.1C hereof), any other Loan Document, any transaction contemplated by the Loan Documents, any Loan or the use of proceeds thereof. No
Indemnitee shall be liable for any damages arising from the use by unintended recipients of any information or other materials distributed by it through telecommunications, electronic or other information transmission systems in connection with the
Loan Documents or the transactions contemplated thereby. 
  

 85 

	 	10.14 	Applicable Law. 

 THIS AGREEMENT AND THE
OTHER LOAN DOCUMENTS (EXCEPT AS OTHERWISE EXPRESSLY SET FORTH IN ANY SUCH LOAN DOCUMENT), AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER AND THEREUNDER SHALL BE GOVERNED BY, AND SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE
INTERNAL LAWS OF THE STATE OF NEW YORK (INCLUDING SECTION 5-1401 OF THE GENERAL OBLIGATIONS LAW OF THE STATE OF NEW YORK), WITHOUT REGARD TO CONFLICTS OF LAWS PRINCIPLES THAT WOULD REQUIRE APPLICATION OF ANOTHER LAW. 
  

	 	10.15 	Construction of Agreement; Nature of Relationship. 

 Company acknowledges that (i) it has been represented by counsel in the negotiation and documentation of the terms of this Agreement, (ii) it has had full and fair opportunity to review and revise the terms
of this Agreement, (iii) this Agreement has been drafted jointly by the parties hereto, and (iv) neither Administrative Agent nor any Lender or other Agent has any fiduciary relationship with or duty to Company arising out of or in
connection with this Agreement or any of the other Loan Documents, and the relationship between Administrative Agent, the other Agents and Lenders, on one hand, and Company, on the other hand, in connection herewith or therewith is solely that of
debtor and creditor. Accordingly, each of the parties hereto acknowledges and agrees that the terms of this Agreement shall not be construed against or in favor of another party. 
  

	 	10.16 	Consent to Jurisdiction and Service of Process. 

 ALL JUDICIAL PROCEEDINGS BROUGHT AGAINST COMPANY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT, OR ANY OBLIGATIONS HEREUNDER AND THEREUNDER, MAY BE BROUGHT IN ANY STATE OR FEDERAL COURT OF COMPETENT JURISDICTION
IN THE STATE, COUNTY AND CITY OF NEW YORK. BY EXECUTING AND DELIVERING THIS AGREEMENT, COMPANY, FOR ITSELF AND IN CONNECTION WITH ITS PROPERTIES, IRREVOCABLY 
 (I) ACCEPTS GENERALLY AND UNCONDITIONALLY THE NONEXCLUSIVE JURISDICTION AND VENUE OF SUCH COURTS; 
 (II) WAIVES ANY DEFENSE OF FORUM NON CONVENIENS; 
 (III) AGREES THAT LENDERS RETAIN THE RIGHT TO SERVE PROCESS IN ANY MANNER PERMITTED BY LAW OR TO BRING PROCEEDINGS AGAINST COMPANY IN
THE COURTS OF ANY OTHER JURISDICTION; AND 
 (IV) AGREES THAT THE PROVISIONS OF THIS SUBSECTION 10.16 RELATING TO
JURISDICTION AND VENUE SHALL BE BINDING AND ENFORCEABLE TO THE FULLEST EXTENT PERMISSIBLE UNDER NEW YORK GENERAL OBLIGATIONS LAW SECTION 5-1402 OR OTHERWISE. 
  

 86 

	 	10.17 	Waiver of Jury Trial. 

 EACH OF THE PARTIES TO THIS AGREEMENT HEREBY AGREES TO WAIVE ITS RESPECTIVE RIGHTS TO A JURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING OUT OF THIS AGREEMENT OR ANY OF THE OTHER LOAN DOCUMENTS OR ANY DEALINGS BETWEEN
THEM RELATING TO THE SUBJECT MATTER OF THIS LOAN TRANSACTION OR THE LENDER/BORROWER RELATIONSHIP THAT IS BEING ESTABLISHED. The scope of this waiver is intended to be all-encompassing of any and all disputes that may be filed in any court and
that relate to the subject matter of this transaction, including contract claims, tort claims, breach of duty claims and all other common law and statutory claims. Each party hereto acknowledges that this waiver is a material inducement to enter
into a business relationship, that each has already relied on this waiver in entering into this Agreement, and that each will continue to rely on this waiver in their related future dealings. Each party hereto further warrants and represents that it
has reviewed this waiver with its legal counsel and that it knowingly and voluntarily waives its jury trial rights following consultation with legal counsel. THIS WAIVER IS IRREVOCABLE, MEANING THAT IT MAY NOT BE MODIFIED EITHER ORALLY OR IN
WRITING (OTHER THAN BY A MUTUAL WRITTEN WAIVER SPECIFICALLY REFERRING TO THIS SUBSECTION 10.17 AND EXECUTED BY EACH OF THE PARTIES HERETO), AND THIS WAIVER SHALL APPLY TO ANY SUBSEQUENT AMENDMENTS, RENEWALS, SUPPLEMENTS OR MODIFICATIONS TO THIS
AGREEMENT OR ANY OF THE OTHER LOAN DOCUMENTS OR TO ANY OTHER DOCUMENTS OR AGREEMENTS RELATING TO THE LOANS MADE HEREUNDER. In the event of litigation, this Agreement may be filed as a written consent to a trial by the court. 
  

	 	10.18 	Confidentiality. 

 Each Lender shall hold all
non-public information obtained pursuant to the requirements of this Agreement in accordance with such Lender’s customary procedures for handling confidential information of this nature, it being understood and agreed by Company that in any
event a Lender may make disclosures (a) to its and its Affiliates’ directors, officers, employees and agents, including accountants, and legal counsel and other advisors (it being understood that the Persons to whom such disclosure is made
will be informed of the confidential nature of such information and instructed to keep such information confidential, (b) to the extent requested by any Government Authority, (c) to the extent required by applicable laws or regulations or
by any subpoena or similar legal process, (d) to any other party to this Agreement, (e) in connection with the exercise of any remedies hereunder or any suit, action or proceeding relating to this Agreement or the enforcement of rights
hereunder, (f) subject to an agreement containing provisions substantially the same as those of this subsection 10.18, to (i) any pledgee under subsection 10.10, any Eligible Assignee of or participant in, or any prospective Eligible
Assignee of or Participant in, any of its rights or obligations under this Agreement or (ii) any direct or indirect contractual counterparty or prospective counterparty (or such contractual counterparty’s or prospective counterparty’s
professional advisor) to any credit derivative transaction relating to obligations of Company, (g) with the consent of Company, (h) to the extent such information (i) becomes publicly available other than as a result of a breach of
this subsection 10.18 or (ii) becomes available to Administrative Agent or any Lender on a 

  

 87 

 
nonconfidential basis from a source other than Company (i) to the National Association of Insurance Commissioners or any other similar organization or
any nationally recognized rating agency that requires access to information about a Lender’s or its Affiliates’ investment portfolio in connection with ratings issued with respect to such Lender or its Affiliates and that no written or
oral communications from counsel to an Agent and no information that is or is designated as privileged or as attorney work product may be disclosed to any Person unless such Person is a Lender or a Participant hereunder; provided that, unless
specifically prohibited by applicable law or court order, each Lender shall notify Company of any request by any Government Authority or representative thereof (other than any such request in connection with any examination of the financial
condition of such Lender by such Government Authority) for disclosure of any such non-public information prior to disclosure of such information; and provided, further that in no event shall any Lender be obligated or required to
return any materials furnished by Company or any of its Subsidiaries. In addition, Administrative Agent and Lenders may disclose the existence of this Agreement and information about this Agreement to market data collectors, similar service
providers to the lending industry, and service providers to Administrative Agent and Lenders, and Administrative Agent or any of its Affiliates may place customary “tombstone” advertisements relating hereto in publications (including
publications circulated in electronic form) of its choice at its own expense. 
  

	 	10.19 	Counterparts; Effectiveness. 

 This Agreement
and any amendments, waivers, consents or supplements hereto or in connection herewith may be executed in any number of counterparts and by different parties hereto in separate counterparts, each of which when so executed and delivered shall be
deemed an original, but all such counterparts together shall constitute but one and the same instrument; signature pages may be detached from multiple separate counterparts and attached to a single counterpart so that all signature pages are
physically attached to the same document. This Agreement shall become effective upon the execution of a counterpart hereof by each of the parties hereto. 
  

	 	10.20 	USA Patriot Act. 

 Each Lender hereby
notifies Company that pursuant to the requirements of the USA Patriot Act (Title III of Pub. L. 107-56 (signed into law October 26, 2001)) (the “Act”), it is required to obtain, verify and record information that identifies
Company, which information includes the name and address of Company and other information that will allow such Lender to identify Company in accordance with the Act. 
 [Remainder of page intentionally left blank] 
  

 88 

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

			
	STANCORP FINANCIAL GROUP, INC.
		
	 By:
	 	 /s/ CINDY J. MCPIKE

		
		 	Cindy J. McPike, Senior Vice President and Chief Financial Officer

 Signature Page to StanCorp Credit Agreement 

 LENDERS: 
  

			
	WELLS FARGO BANK, NATIONAL ASSOCIATION,
	 individually and as Administrative Agent and a

	 Swing Line Lender

		
	 By:
	 	 /s/ ROBERT FIALKOWSKI

			
		
		 	 Robert Fialkowski, Vice President

 Signature Page to StanCorp Credit Agreement 

			
	U.S. BANK NATIONAL ASSOCIATION,
	 individually and as Syndication Agent and a Swing

	 Line Lender

		
	 By:
	 	 /s/ SCOTT J. BELL

		
		 	 Scott J. Bell, Senior Vice President

 Signature Page to StanCorp Credit Agreement 

			
	THE BANK OF NEW YORK
		
	 By:
	 	 /s/ RICHARD G. SHAW

			
		
		 	 Richard G. Shaw, Vice President

 Signature Page to StanCorp Credit Agreement 

			
	THE BANK OF TOKYO-MITSUBISHI UFJ,
	LTD., acting through its Seattle Branch
		
	 By:
	 	 /s/ ATSUSHI TSUKAHARA

			
		
		 	 Atsushi Tsukahara, Deputy General Manager

 Signature Page to StanCorp Credit Agreement 

			
	THE NORTHERN TRUST COMPANY
		
	 By:
	 	 /s/ JOHN BRAZZALE

			
		
		 	 John Brazzale, Vice President

 Signature Page to StanCorp Credit Agreement 

			
	WILLIAM STREET COMMITMENT CORPORATION
		
	 By:
	 	 /s/ MARK WALTON

			
		
		 	 Mark Walton, Assistant Vice President

 Signature Page to StanCorp Credit Agreement 

			
	MELLON BANK, N.A.
		
	 By:
	 	 /s/ MARTIN J. RANDAL

			
		
		 	 Martin J. Randal, Vice President

 Signature Page to StanCorp Credit Agreement 

 EXHIBIT I 
 [FORM OF] NOTICE OF REVOLVING BORROWING 
 Pursuant to that certain Credit Agreement dated as of
June 15, 2006, as amended, restated, supplemented or otherwise modified to the date hereof (said Credit Agreement, as so amended, restated, supplemented or otherwise modified, being the “Credit Agreement”, the terms defined
therein and not otherwise defined herein being used herein as therein defined), by and among STANCORP FINANCIAL GROUP, INC. (“Company”), the financial institutions listed therein as Lenders (“Lenders”), and WELLS
FARGO BANK, NATIONAL ASSOCIATION, as Administrative Agent (“Administrative Agent”), this represents Company’s request to borrow as follows: 
  

	 	1.	Date of borrowing:  ___________________, _________ 

  

	 	2.	Amount of borrowing:  $___________________ 

  

	 	3.	Lender(s): 

  

	 	 ̈ a. 	Lenders, in accordance with their applicable Pro Rata Shares 

  

	 	 ̈ b. 	Swing Line Lender 

  

	 	 ̈	Wells Fargo 

  

	 	 ̈	U.S. Bank 

  

	 	4.	Type of Loans: 

  

	 	 ̈ a. 	Revolving Loans 

  

	 	 ̈ b. 	Swing Line Loan 

  

	 	5.	Interest rate option: 

  

	 	 ̈ a. 	Base Rate Loan(s) 

  

	 	 ̈ b. 	Eurodollar Rate Loans with an initial Interest Period of ____________ month(s) 

  

	 	 ̈ c. 	Other rate agreed to between applicable Swing Line Lender and Company: ______________ 

 The proceeds of such Loans are to be deposited in Company’s account at Administrative Agent or in such other account as may be designated by Company from time to time. 
  

					
		 	Exhibit I -1	 	Notice of Revolving Borrower

 The undersigned officer, to the best of his or her knowledge, and Company certify that: 
 (i) The representations and warranties contained in the Credit Agreement (other than subsection 5.4) and the other Loan Documents are true, correct and
complete in all material respects on and as of the date hereof to the same extent as though made on and as of the date hereof, except to the extent such representations and warranties specifically relate to an earlier date, in which case such
representations and warranties were true, correct and complete in all material respects on and as of such earlier date; provided, that, if a representation and warranty is qualified as to materiality, with respect to such representation and
warranty the materiality qualifier set forth above shall be disregarded for purposes of this condition; and 
 (ii) No event has occurred and
is continuing or would result from the consummation of the borrowing contemplated hereby that would constitute an Event of Default or a Potential Event of Default. 
  

									
	 DATED: ___________________
	 		 	STANCORP FINANCIAL GROUP, INC.
					
		 		 		 	 By:
	 	  
					
		 		 		 	 Title:
	 	  

  

					
		 	Exhibit I -2	 	Notice of Revolving Borrower

 EXHIBIT II 
 [FORM OF] NOTICE OF CONVERSION/CONTINUATION 
 Pursuant to that certain Credit Agreement dated as of
June 15, 2006, as amended, restated, supplemented or otherwise modified to the date hereof (said Credit Agreement, as so amended, restated, supplemented or otherwise modified, being the “Credit Agreement”, the terms defined
therein and not otherwise defined herein being used herein as therein defined), by and among STANCORP FINANCIAL GROUP, INC. (“Company”), the financial institutions listed therein as Lenders, and WELLS FARGO BANK, NATIONAL
ASSOCIATION, as Administrative Agent (“Administrative Agent”), this represents Company’s request to convert or continue Loans as follows: 
  

	 	1.	Date of conversion/continuation:  __________________, _______ 

  

	 	2.	Amount of Loans being converted/continued:  $___________________ 

  

	 	3.	Nature of conversion/continuation: 

  

	 	 ̈ a. 	Conversion of Base Rate Loans to Eurodollar Rate Loans 

  

	 	 ̈ b. 	Conversion of Eurodollar Rate Loans to Base Rate Loans 

  

	 	 ̈ c. 	Continuation of Eurodollar Rate Loans as such 

  

	 	4.	If Loans are being continued as or converted to Eurodollar Rate Loans, the duration of the new Interest Period that commences on the conversion/ continuation date: _______________
month(s) 

 In the case of a conversion to or continuation of Eurodollar Rate Loans, the undersigned officer, to the best of
his or her knowledge, and Company certifies that no Event of Default or Potential Event of Default has occurred and is continuing under the Credit Agreement. 
  

									
	 DATED: ___________________
	 		 	STANCORP FINANCIAL GROUP, INC.
					
		 		 		 	 By:
	 	  
					
		 		 		 	 Title:
	 	  

  

					
		 	Exhibit II-1	 	Notice of Conversion/Continution

 EXHIBIT III 
 [FORM OF] REQUEST FOR ISSUANCE 
 Pursuant to that certain Credit Agreement dated as of June 15,
2006 as amended, restated, supplemented or otherwise modified to the date hereof (said Credit Agreement, as so amended, restated, supplemented or otherwise modified, being the “Credit Agreement”, the terms defined therein and not
otherwise defined herein being used herein as therein defined), by and among STANCORP FINANCIAL GROUP, INC. (“Company”), the financial institutions listed therein as Lenders, and WELLS FARGO BANK, NATIONAL ASSOCIATION, as
Administrative Agent (“Administrative Agent”), this represents Company’s request for the issuance of a Letter of Credit by Administrative Agent as follows: 
  

	 	1.	Issuing Lender:       Administrative Agent 

     [                                  
                              ] 
  

	 	2.	Date of issuance of Letter of Credit: ________________, ________ 

  

	 	3.	Face amount of Letter of Credit: $________________________ 

  

	 	4.	Expiration date of Letter of Credit: ________________, ________ 

  

	 	5.	Name and address of beneficiary: 

 ____________________________________ 
 ____________________________________ 
 ____________________________________ 
 ____________________________________ 
  

	 	6.	Attached hereto is: 

  

	 	 ̈	the verbatim text of such proposed Letter of Credit 

  

	 	 ̈	a description of the proposed terms and conditions of such Letter of Credit, including a precise description of any documents to be presented by the beneficiary which, if presented
by the beneficiary prior to the expiration date of such Letter of Credit, would require the Issuing Lender to make payment under such Letter of Credit. 

 The undersigned officer, to the best of his or her knowledge, and Company certify that: 
 (i) The
representations and warranties contained in the Credit Agreement (other than subsection 5.4) and the other Loan Documents are true, correct and complete in all material respects on and as of the date hereof to the same extent as though made on and
as of the date hereof, except to the extent such representations and warranties specifically relate to an earlier date, in which case such representations and warranties were true, correct and complete in 

  

					
		 	Exhibit III-1	 	Request for Issuance

 
all material respects on and as of such earlier date; provided, that, if a representation and warranty is qualified as to materiality, with respect to such
representation and warranty the materiality qualifier set forth above shall be disregarded for purposes of this condition; and 
 (ii) No
event has occurred and is continuing or would result from the issuance of the Letter of Credit contemplated hereby that would constitute an Event of Default or a Potential Event of Default. 
  

									
	 DATED:  ___________________________
	 		 	STANCORP FINANCIAL GROUP, INC.
					
		 		 		 	 By:
	 	  
					
		 		 		 	 Title:
	 	  

  

					
		  	Exhibit III-2	  	Request for Issuance

 EXHIBIT IV 
 [FORM OF] REVOLVING NOTE 
 STANCORP FINANCIAL GROUP, INC. 
  

			
	 $_____________________1
	  	______________________2
		  	[Issuance date]

 FOR VALUE RECEIVED, STANCORP FINANCIAL GROUP, INC., an Oregon corporation
(“Company”), promises to pay to ________________3 (“Payee”) or its registered assigns, the lesser of (x) ____________________4
($[_________________1]) and (y) the unpaid principal amount of all advances made by Payee to Company as
Revolving Loans under the Credit Agreement referred to below. The principal amount of this Note shall be payable on the dates and in the amounts specified in the Credit Agreement. 
 Company also promises to pay interest on the unpaid principal amount hereof, until paid in full, at the rates and at the times which shall be determined
in accordance with the provisions of that certain Credit Agreement dated as of June 15, 2006 by and among Company, the financial institutions listed therein as Lenders, and Wells Fargo Bank, National Association, as Administrative Agent (said
Credit Agreement, as it may be amended, restated, supplemented or otherwise modified from time to time, being the “Credit Agreement”, the terms defined therein and not otherwise defined herein being used herein as therein defined).

 This Note is one of Company’s “Revolving Notes” and is issued pursuant to and entitled to the benefits of the Credit
Agreement, to which reference is hereby made for a more complete statement of the terms and conditions under which the Revolving Loans evidenced hereby were made and are to be repaid. 
 All payments of principal and interest in respect of this Note shall be made in lawful money of the United States of America in same day funds at the
Funding and Payment Office or at such other place as shall be designated in writing for such purpose in accordance with the terms of the Credit Agreement. Unless and until an Assignment Agreement effecting the assignment or transfer of this Note
shall have been accepted by Administrative Agent and recorded in the Register as provided in the Credit Agreement, Company and Administrative Agent shall be entitled to deem and treat Payee as the owner and holder of this Note and the Loans
evidenced hereby. Payee hereby agrees, by its acceptance hereof, that before disposing of this Note or any part hereof it will make a notation hereon of all principal payments previously made hereunder and of the date to which interest hereon has
been paid; provided, however, that the failure to make a notation of any payment made on this Note shall not limit or otherwise affect the obligations of Company hereunder with respect to payments of principal of or interest on this Note.

  

	1	Insert amount of Lender’s Revolving Loan commitment in numbers 

	2	Insert place of delivery Note. 

	3	Insert Lender’s name in capital letters. 

	4	Insert amount of Lender’s Revolving Loan Commitment in words. 

  

					
		  	Exhibit IV-1	  	Revolving Note

 Whenever any payment on this Note shall be stated to be due on a day which is not a Business Day, such
payment shall be made on the next succeeding Business Day and such extension of time shall be included in the computation of the payment of interest on this Note. 
 This Note is subject to mandatory prepayment as provided in the Credit Agreement and to prepayment at the option of Company as provided in the Credit Agreement. 
 THIS NOTE AND THE RIGHTS AND OBLIGATIONS OF COMPANY AND PAYEE HEREUNDER SHALL BE GOVERNED BY, AND SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH,
THE INTERNAL LAWS OF THE STATE OF NEW YORK (INCLUDING SECTION 5-1401 OF THE GENERAL OBLIGATIONS LAW OF THE STATE OF NEW YORK), WITHOUT REGARD TO CONFLICTS OF LAWS PRINCIPLES. 
 Upon the occurrence of an Event of Default, the unpaid balance of the principal amount of this Note, together with all accrued and unpaid interest
thereon, may become, or may be declared to be, due and payable in the manner, upon the conditions and with the effect provided in the Credit Agreement. 
 The terms of this Note are subject to amendment only in the manner provided in the Credit Agreement. 
 This
Note is subject to restrictions on transfer or assignment as provided in the Credit Agreement. 
 No reference herein to the Credit Agreement
and no provision of this Note or the Credit Agreement shall alter or impair the obligations of Company, which are absolute and unconditional, to pay the principal of and interest on this Note at the place, at the respective times, and in the
currency prescribed herein and in the Credit Agreement. 
 Company promises to pay all costs and expenses, including reasonable and
documented attorneys’ fees, all as provided in the Credit Agreement, incurred in the collection and enforcement of this Note. Company and any endorsers of this Note hereby consent to renewals and extensions of time at or after the maturity
hereof, without notice, and hereby waive diligence, presentment, protest, demand and notice of every kind and, to the full extent permitted by law, the right to plead any statute of limitations as a defense to any demand hereunder. 
 [Remainder of page intentionally left blank.] 
  

					
		  	Exhibit IV-2	  	Revolving Note

 IN WITNESS WHEREOF, Company has caused this Note to be duly executed and delivered by its officer
thereunto duly authorized as of the date and at the place first written above. 
  

			
	STANCORP FINANCIAL GROUP, INC.
		
	By:	 	  
	 Title:
	 	  

  

					
		  	Exhibit IV-3	  	Revolving Note

 TRANSACTIONS 
 ON 
 REVOLVING NOTE 
  

											
	 Date
	  	 Type of
 Loan Made
 This
Date
	  	 Amount of
 Loan Made
 This
Date
	  	 Amount of
 Principal Paid
 This
Date
	  	 Outstanding
 Principal
 Balance
 This Date
	  	 Notation
 Made By

  

					
		  	Exhibit IV-4	  	Revolving Note

 EXHIBIT V 
 [FORM OF] SWING LINE NOTE 
 STANCORP FINANCIAL GROUP, INC. 
  

			
	 $_____________________1
	  	______________________2
		  	[Issuance date]

 FOR VALUE RECEIVED, STANCORP FINANCIAL GROUP, INC., an Oregon corporation
(“Company”), promises to pay to _______________________3 (“Payee”) or its
registered assigns, the lesser of (x) _______________________ ($[________________________1]) and (y) the
unpaid principal amount of all advances made by Payee to Company as Swing Line Loans under the Credit Agreement referred to below. The principal amount of this Note shall be payable on the dates and in the amounts specified in the Credit Agreement.

 Company also promises to pay interest on the unpaid principal amount hereof, until paid in full, at the rates and at the times which shall
be determined in accordance with the provisions of that certain Credit Agreement dated as of June 15, 2006 by and among Company, the financial institutions listed therein as Lenders, and Wells Fargo Bank, National Association, as Administrative
Agent (said Credit Agreement, as it may be amended, restated, supplemented or otherwise modified from time to time, being the “Credit Agreement”, the terms defined therein and not otherwise defined herein being used herein as
therein defined). 
 This Note is Company’s “Swing Line Note” and is issued pursuant to and entitled to the benefits of the
Credit Agreement, to which reference is hereby made for a more complete statement of the terms and conditions under which the Swing Line Loans evidenced hereby were made and are to be repaid. 
 All payments of principal and interest in respect of this Note shall be made in lawful money of the United States of America in same day funds at the
Funding and Payment Office or at such other place as shall be designated in writing for such purpose in accordance with the terms of the Credit Agreement. 
 Whenever any payment on this Note shall be stated to be due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and such extension of time shall be included in the
computation of the payment of interest on this Note. 
 This Note is subject to mandatory prepayment as provided in the Credit Agreement and
to prepayment at the option of Company as provided in the Credit Agreement. 
 THIS NOTE AND THE RIGHTS AND OBLIGATIONS OF COMPANY AND
PAYEE HEREUNDER SHALL BE GOVERNED BY, AND SHALL BE 
  

	1	Insert amount of Lender’s Revolving Loan commitment in numbers. 

	2	Insert place of delivery Note. 

	3	Insert amount of Swing Line Lender’s Swing Line Commitment in words. 

  

					
		  	Exhibit V-1	  	Swing Line Note

 CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE INTERNAL LAWS OF THE STATE OF NEW YORK (INCLUDING SECTION 5-1401 OF THE
GENERAL OBLIGATIONS LAW OF THE STATE OF NEW YORK), WITHOUT REGARD TO CONFLICTS OF LAWS PRINCIPLES. 
 Upon the occurrence of an Event of
Default, the unpaid balance of the principal amount of this Note, together with all accrued and unpaid interest thereon, may become, or may be declared to be, due and payable in the manner, upon the conditions and with the effect provided in the
Credit Agreement. 
 The terms of this Note are subject to amendment only in the manner provided in the Credit Agreement. 
 This Note is subject to restrictions on transfer or assignment as provided in the Credit Agreement. 
 No reference herein to the Credit Agreement and no provision of this Note or the Credit Agreement shall alter or impair the obligations of Company, which
are absolute and unconditional, to pay the principal of and interest on this Note at the place, at the respective times, and in the currency prescribed herein and in the Credit Agreement. 
 Company promises to pay all costs and expenses, including reasonable and documented attorneys’ fees, all as provided in the Credit Agreement,
incurred in the collection and enforcement of this Note. Company and any endorsers of this Note hereby consent to renewals and extensions of time at or after the maturity hereof, without notice, and hereby waive diligence, presentment, protest,
demand and notice of every kind and, to the full extent permitted by law, the right to plead any statute of limitations as a defense to any demand hereunder. 
 [Remainder of page intentionally left blank.] 
  

					
		  	Exhibit V-2	  	Swing Line Note

 IN WITNESS WHEREOF, Company has caused this Note to be duly executed and delivered by its officer
thereunto duly authorized as of the date and at the place first written above. 
  

			
	STANCORP FINANCIAL GROUP, INC.
		
	By:	 	  
		
	 Title:
	 	  

  

					
		  	Exhibit V-3	  	Swing Line Note

 TRANSACTIONS 
 ON 
 REVOLVING NOTE 
  

											
	 Date
	  	 Amount of
 Loan Made
 This
Date
	  	 Amount of
 Principal Paid
 This
Date
	  	 Amount of
 Principal Paid
 This
Date
	  	 Outstanding
 Principal
 Balance
 This Date
	  	 Notation
 Made By

  

					
		  	Exhibit V-4	  	Swing Line Note

 EXHIBIT VI 
 [FORM OF] COMPLIANCE CERTIFICATE 
 THE UNDERSIGNED HEREBY CERTIFY THAT: 
 (1) We are the duly elected [Title] and [Title] of StanCorp Financial Group, Inc. (“Company”); 
 (2) We have reviewed the terms of that certain Credit Agreement dated as of June 15, 2006, as amended, restated, supplemented or otherwise modified
to the date hereof (said Credit Agreement, as so amended, restated, supplemented or otherwise modified, being the “Credit Agreement”, the terms defined therein and not otherwise defined in this Certificate (including Attachment
No. 1 annexed hereto and made a part hereof) being used in this Certificate as therein defined), by and among Company, the financial institutions listed therein as Lenders, and Wells Fargo Bank, National Association, as Administrative Agent,
and we have made, or have caused to be made under our supervision, a review in reasonable detail of the transactions and condition of Company and its Subsidiaries during the accounting period covered by the attached financial statements; 

(3) The examination described in paragraph (2) above did not disclose, and we have no knowledge of, the existence of any condition or event which
constitutes an Event of Default or Potential Event of Default during or at the end of the accounting period covered by the attached financial statements or as of the date of this Certificate [, except as set forth below]. 
 [Set forth [below] [in a separate attachment to this Certificate] are all exceptions to paragraph (3) above listing, in detail, the nature of the
condition or event, the period during which it has existed and the action which Company has taken, is taking, or proposes to take with respect to each such condition or event: 
 ____________________________________________________________] 
  

					
		  	Exhibit VI-1	  	Compliance Certificate

 The foregoing certifications, together with the computations set forth in Attachment No. 1 annexed
hereto and made a part hereof and the financial statements delivered with this Certificate in support hereof, are made and delivered this __________ day of _____________, ____ pursuant to subsection 6.1(iv) of the Credit Agreement. 
  

			
	STANCORP FINANCIAL GROUP, INC.
		
	 By:
	 	  
		
	 Title:
	 	  
		
	 By:
	 	  
		
	 Title:
	 	  

  

					
		  	Exhibit VI-2	  	Compliance Certificate

 ATTACHMENT NO. 1 
 TO COMPLIANCE CERTIFICATE 
 This Attachment No. 1 is attached to and made a part of a Compliance
Certificate dated as of ____________, ____ and pertains to the Fiscal Quarter most recently ended. Subsection references herein relate to subsections of the Credit Agreement. 
  

			
	 A.
	 	Maximum Leverage Ratio (as of _____________, ____)
		 	 1.      Consolidated Total
Debt:                                 $___________

		 	 2.      Consolidated Net
Worth:                                 $___________

		 	 3.      Consolidated Total Capitalization (1+2+3):    $___________

		 	 4.      Leverage Ratio (1):(3):            
____%

		 	 5.      Maximum ratio permitted under subsection 7.4A:     35%

		 	 Compliance
(Yes/No)                    ___________

		
	 B.
	 	Minimum Consolidated Net Worth (as of _____________, ____)
		 	 1.      Consolidated Net
Worth:                                       
      $___________

		 	 2.      Minimum amount required under subsection 7.4B:  [$_________]

		
		 	 Compliance (Yes/No) ____________

  

					
		  	Exhibit VI-3	  	Compliance Certificate

 EXHIBIT VII 
 [FORM OF] ASSIGNMENT AND ASSUMPTION AGREEMENT 
 This Assignment and Assumption Agreement (the
“Assignment”) is dated as of the Effective Date set forth below and is entered into by and between [Insert name of Assignor] (the “Assignor”) and [Insert name of Assignee] (the
“Assignee”). Capitalized terms used but not defined herein shall have the meanings given to them in the Credit Agreement identified below (as amended, restated, supplemented or otherwise modified, the “Credit
Agreement”), receipt of a copy of which is hereby acknowledged by the Assignee. The Standard Terms and Conditions set forth in Annex 1 attached hereto are hereby agreed to and incorporated herein by reference and made a part of this
Assignment as if set forth herein in full. 
 For an agreed consideration, the Assignor hereby irrevocably sells and assigns to the Assignee,
and the Assignee hereby irrevocably purchases and assumes from the Assignor, subject to and in accordance with the Standard Terms and Conditions and the Credit Agreement, as of the Effective Date inserted by Administrative Agent as contemplated
below, the interest in and to all of the Assignor’s rights and obligations under the Credit Agreement and any other documents or instruments delivered pursuant thereto that represents the amount and percentage interest identified below of all
of the Assignor’s outstanding rights and obligations under the respective facilities identified below (including, to the extent included in any such facilities, letters of credit and swingline loans) (the “Assigned
Interest”). Such sale and assignment is without recourse to the Assignor and, except as expressly provided in this Assignment, without representation or warranty by the Assignor. 
 1. Assignor: ______________________________ 
 2. Assignee: ______________________________ [and is an Affiliate/Approved Fund1] 
 3. Borrower: StanCorp Financial Group, Inc. 
 4. Administrative Agent: Wells Fargo Bank, National Association, as administrative agent under the Credit Agreement 
 5. Credit
Agreement The $200,000,000 Credit Agreement dated as of June 15, 2006 among Company, the Lenders parties thereto, Wells Fargo Bank, National Association, as Administrative Agent, and the other agents parties thereto 

	1	Select as applicable. 

  

					
		  	Exhibit VII-1	  	Assignment and Assumption Agreement

 6. Assigned Interest: 
  

										
	 Facility Assigned
	  	Aggregate Amount of
Commitment/Loans
for all Lenders	  	Amount of
Commitment/Loans
Assigned	  	Percentage Assigned
of
Commitment/Loans2	 
	 Revolving Loan Commitment
	  	$	_____________	  	$	_____________	  	__________	%

 Effective Date: _____________ ___, 20___ [TO BE INSERTED BY ADMINISTRATIVE AGENT AND WHICH SHALL BE THE EFFECTIVE
DATE OF RECORDATION OF TRANSFER IN THE REGISTER THEREFOR.] 
 The terms set forth in this Assignment are hereby agreed to: 
  

			
	 ASSIGNOR

	 [NAME OF ASSIGNOR]

		
	By:	 	  
		 	 Title:

	
	 ASSIGNEE

	 [NAME OF ASSIGNEE]

		
	By:	 	  
		 	 Title:

  

			
	 Consented to and Accepted:

	
	WELLS FARGO BANK, NATIONAL ASSOCIATION,
	 as Administrative Agent

		
	By:	 	  
		 	 Title:

	
	 [Consented to:]

	
	 STANCORP FINANCIAL GROUP, INC.

		
	By:	 	  
		 	 Title:

	2	Set forth, to at least 9 decimals, as a percentage of the Commitment/Loans of all Lenders thereunder. 

  

					
		  	Exhibit VII-2	  	Assignment and Assumption Agreement

 ANNEX 1 
 STANCORP FINANCIAL GROUP, INC. 
 STANDARD TERMS AND CONDITIONS FOR ASSIGNMENT 
 AND ASSUMPTION AGREEMENT 
 1.
Representations and Warranties. 
 1.1 Assignor. The Assignor (a) represents and warrants that (i) it is the legal
and beneficial owner of the Assigned Interest, (ii) the Assigned Interest is free and clear of any lien, encumbrance or other adverse claim and (iii) it has full power and authority, and has taken all action necessary, to execute and
deliver this Assignment and to consummate the transactions contemplated hereby; and (b) assumes no responsibility with respect to (i) any statements, warranties or representations made in or in connection with any Loan Document,
(ii) the execution, legality, validity, enforceability, genuineness, sufficiency or value of the Credit Agreement or any other instrument or document delivered pursuant thereto, other than this Assignment (herein collectively the
“Loan Documents”), or any collateral thereunder, (iii) the financial condition of Company, any of its Subsidiaries or Affiliates or any other Person obligated in respect of any Loan Document or (iv) the performance
or observance by Company, any of its Subsidiaries or Affiliates or any other Person of any of their respective obligations under any Loan Document. 
 1.2 Assignee. The Assignee (a) represents and warrants that (i) it has full power and authority, and has taken all action necessary, to execute and deliver this Assignment and to consummate the transactions contemplated
hereby and to become a Lender under the Credit Agreement, (ii) it meets all requirements of an Eligible Assignee under the Credit Agreement, (iii) from and after the Effective Date, it shall be bound by the provisions of the Credit
Agreement and, to the extent of the Assigned Interest, shall have the obligations of a Lender thereunder, (iv) it has received a copy of the Credit Agreement, together with copies of the most recent financial statements delivered pursuant to
subsection 6.1 thereof, as applicable, and such other documents and information as it has deemed appropriate to make its own credit analysis and decision to enter into this Assignment and to purchase the Assigned Interest on the basis of which it
has made such analysis and decision, and (v) if it is a Non-US Lender, attached to the Assignment is any documentation required to be delivered by it pursuant to the terms of the Credit Agreement, duly completed and executed by the Assignee;
and (b) agrees that (i) it will, independently and without reliance on Administrative Agent, the Assignor or any other Lender, and based on such documents and information as it shall deem appropriate at the time, continue to make its own
credit decisions in taking or not taking action under the Loan Documents, and (ii) it will perform in accordance with their terms all of the obligations which by the terms of the Loan Documents are required to be performed by it as a Lender.

 2. Payments. From and after the Effective Date, Administrative Agent shall make all payments in respect of the Assigned Interest
(including payments of principal, interest, fees and other amounts) to the Assignor for amounts which have accrued to but excluding the 

  

					
		  	Exhibit VII-3	  	Assignment and Assumption Agreement

 
Effective Date and to the Assignee for amounts which have accrued from and after the Effective Date.3 
 3. General Provisions. This Assignment shall be binding upon, and inure to the benefit of, the parties hereto and their respective successors and
assigns. This Assignment may be executed in any number of counterparts, which together shall constitute one instrument. Delivery of an executed counterpart of a signature page of this Assignment by telecopy shall be effective as delivery of a
manually executed counterpart of this Assignment. THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE GOVERNED BY, AND SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE INTERNAL LAWS OF THE STATE OF NEW YORK
(INCLUDING SECTION 5-1401 OF THE GENERAL OBLIGATIONS LAW OF THE STATE OF NEW YORK), WITHOUT REGARD TO CONFLICTS OF LAWS PRINCIPLES. 

	3	Administrative Agent should consider whether this method conforms to its systems. In some circumstances, the following alternative language may be appropriate:
“From and after the Effective Date, Administrative Agent shall make all payments in respect of the Assigned Interest (including payments of principal, interest, fees and other amounts) to the Assignee whether such amounts have accrued prior to
or on or after the Effective Date. The Assignor and the Assignee shall make all appropriate adjustments in payments by Administrative Agent for periods prior to the Effective Date or with respect to the making of this assignment directly between
themselves.” 

  

					
		  	Exhibit VII-4	  	Assignment and Assumption Agreement

 Schedule 2.1 – Lenders’ Commitments and Pro Rata Shares 
  

							
	 Lender
	  	Revolving Loan
Commitment	  	Pro Rata Share	 
	 Wells Fargo Bank, National Association
	  	$	52,500,000	  	26.25	%
	 U.S. Bank National Association
	  	$	52,500,000	  	26.25	%
	 The Bank of New York
	  	$	25,000,000	  	12.5	%
	 The Bank of Tokyo-Mitsubishi UFJ, Ltd.
	  	$	25,000,000	  	12.5	%
	 The Northern Trust Company
	  	$	25,000,000	  	12.5	%
	 William Street Commitment Corporation
	  	$	10,000,000	  	5.0	%
	 Mellon Bank, N.A.
	  	$	10,000,000	  	5.0	%
		  	 	 	  	 	 
	 Totals:
	  	$	200,000,000	  	100.00	%
		  	 	 	  	 	 

 Schedule 5.15 – Insurance Licenses 
 Jurisdictions and Lines of Insurance 
  

			
	Standard Insurance Company	  	Lines of Insurance
		
	Alabama	  	Life, disability, annuities
	Alaska	  	Life, health, annuities, variable life, variable annuities
	Arizona	  	Life, disability, variable annuities
	Arkansas	  	Life, disability, variable annuities
	California	  	Life, disability, annuities (not the registered product)
	Colorado	  	Life, accident & health, credit (life, accident & health), variable annuities
	Connecticut	  	Life, accident & health, variable annuities
	Delaware	  	Life, annuities, health, credit (life & health), variable annuities
	Florida	  	Life, accident & health, annuities, variable annuities
	Georgia	  	Life, accident & sickness, variable annuities
	Hawaii	  	Life, accident & health or sickness, annuities
	Idaho	  	Life, disability (including managed care)
	Illinois	  	Life, disability, annuities
	Indiana	  	Life, disability, annuities
	Iowa	  	Life, accident & health (including hospital & medical expense), variable annuities
	Kansas	  	Life, accident & health, annuities
	Kentucky	  	Life, annuities, health
	Louisiana	  	Life, annuities, health & accident
	Maine	  	Life, health, variable annuities
	Maryland	  	Life, health, variable annuities
	Massachusetts	  	Life, accident & health, variable annuities
	Michigan	  	Life, disability, annuities, variable annuities
	Minnesota	  	Life, variable annuities, health & accident
	Mississippi	  	Life, health, credit (life & health), variable annuities
	Missouri	  	Life, accident & health, variable annuities
	Montana	  	Life, disability, variable annuities
	Nebraska	  	Life, accident & health, variable annuities
	Nevada	  	Life, accident & health, variable annuities
	New Hampshire	  	Life, accident & health, variable annuities
	New Jersey	  	Life, health, annuities, variable annuities
	New Mexico	  	Life, health, variable annuities
	North Carolina	  	Life, accident & health, variable annuities
	North Dakota	  	Life, accident & health, variable annuities
	Ohio	  	Life, health, annuities
	Oklahoma	  	Life, accident & health, variable annuities
	Oregon	  	Life, health, annuities
	Pennsylvania	  	Life, accident & health, annuities, variable annuities
	Rhode Island	  	Life, accident & health, annuities, variable annuities
	South Carolina	  	Life, accident & health, annuities, variable annuities

			
	South Dakota	  	Life, accident & health, annuities, variable annuities
	Tennesee	  	Life, accident & health, variable annuities
	Texas	  	Life, accident & health, variable annuities
	Utah	  	Life, accident & health, annuities, variable annuities
	Vermont	  	Life, accident & health, variable annuities
	Virginia	  	Life, health, credit (life & health), variable annuities
	Washington	  	Life, disability, variable annuities
	West Virginia	  	Life, accident & health, variable annuities
	Wisconsin	  	Life, disability, variable annuities
	Wyoming	  	Life, disability, variable annuities
	Dist. of Columbia	  	Life, annuities, health, credit (life & health), variable annuities
	Guam	  	Life, accident & health, variable annuities
	Virgin Islands	  	Life, accident, disbility, annuities
		
	 Standard Insurance Company
     of New York
	  	
		
	New York	  	Life, annuities, accident & health, variable annuities (not the registered product)

 Schedule 7.1 - Certain Existing Liens 
  

									
	 Company
	  	Outstanding
Amount
5/31/2006	  	 Lender
	  	 Maturity
	  	 Description

					
	Canyon Park	  	$1.3 million	  	StanCorp Mortgage Investors	  	2019	  	121,627 square foot shopping center known as “Canyon Park” located in Bothel, Washington
		  	 	  		  		  	
					
	Stonemill	  	$6.6 million	  	National Mortgage	  	2024	  	120,272 square foot shopping center known as “Stone Mill” located in Vancouver, Washington
		  	 	  		  		  	
					
	 Total
	  	$7.9 million	  		  		  	

 Schedule 7.9 - Existing Subsidiary Indebtedness 
  

									
	 Company
	  	Outstanding
Amount
5/31/2006	  	 Lender
	  	 Maturity
	  	 Description

					
	Canyon Park	  	$1.3 million	  	StanCorp Mortgage Investors	  	2019	  	121,627 square foot shopping center known as “Canyon Park” located in Bothel Washington
		  	 	  		  		  	
					
	 Stonemill
	  	$6.6 million	  	 National Mortgage
	  	2024	  	120,272 square foot shopping center known as “Stone Mill” located in Vancouver Washington
		  	 	  		  		  	
	 Total
	  	$7.9 million	  		  		  	

 Schedule 10.8 – Notice Addresses 
 If to Company: 
 StanCorp Financial Group,
Inc. 
 1100 SW Sixth Street 
 Portland, OR 97204 
 Attention: Cindy McPike 
 Facsimile No: (971) 321-7935 
 If to Administrative Agent and Issuing Lender and Wells Fargo as Swing Line Lender: 
 Wells Fargo Bank, National Association 
 Sixth Street & Marquette
Avenue 
 MAC N9305-075 
 Minneapolis, MN 55479 
 Attention: Robert Fialkowski 
 Facsimile No: (312) 845-8606 

If to U.S. Bank as a Swing Line Lender: 
 U.S. Bank National Association 
 U.S. Bank Centre 
 Agency Services 
 1420 Fifth Avenue, 9th Fl 
 Seattle,
WA 98101 
 Attention: Pat Eells 
 Facsimile No.:
(206) 587-7022

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