Document:

EX-10.18

 Exhibit 10.18 
 NPC INTERNATIONAL HOLDINGS, INC STOCK OPTION AGREEMENT 
 This STOCK OPTION
AGREEMENT (this “Agreement”) is made as of [            ], between NPC International Holdings, Inc., a Delaware corporation (the “Company”) and
[            ] (“Optionee”). 
 On the terms and
subject to conditions contained herein, the Board of Directors of the Company has approved the grant to Optionee of certain stock options as provided below, under the Company’s 2011 Stock Option Plan (the “Plan”), a copy of
which is attached hereto. Certain Capitalized terms used herein have the meaning given to them in Section 21. Capitalized terms used but not defined herein shall have the meanings ascribed to such terms in the Plan. 

1. Conformity with Plan. The Options are intended to conform in all respects with, and are subject to all applicable terms,
conditions and provisions of, the Plan, all of which are incorporated herein by reference. By executing and delivering this Agreement, Optionee acknowledges his or her receipt of this Agreement and the Plan and his or her understanding of all of the
terms of this Agreement and the Plan, and Optionee agrees to be bound by all of the terms of this Agreement and the Plan. 
 2. Grant of Option. Upon the execution and delivery of this Agreement, the Company hereby grants to Optionee an option (the “Option”) to purchase an aggregate of
[            ] shares of the Company’s Common Stock, consisting of (a) [            ] Option Shares (the “Series 1
Option Shares”)1 at a price per share equal to the
Series 1 Option Share Exercise Price in effect on the date of exercise and (b) [            ] Option Shares other than the Series 1 Option Shares (the “Series 2 Option
Shares”)2 at a price per share equal to the Series 2
Option Share Exercise Price, in accordance with the terms and conditions set forth herein and in the Plan. The Option is intended to be, and is hereby designated as, a Limited Exercisability Option. Optionee shall, as a condition to the grant of
Options hereunder, deliver to the Company a Spousal Consent in the form attached hereto as Exhibit A executed by Optionee’s spouse, if any. 
 3. Vesting. 
 (a) Generally. The Option may be exercised only to the
extent it has become vested in accordance with this Section 3. 
 (b) Series 1 Option Shares. 

(i) With respect to the Series 1 Option Shares, except as otherwise provided in Section 3(b)(ii), the Option shall become
vested with respect to a portion of the Series 1 Option Shares in accordance with the following schedule if, and only if, (i) the Company’s Adjusted EBITDA meets the applicable Adjusted EBITDA Target for such fiscal year end set forth
below and (ii) as of such date Optionee is, and has been since the date hereof, employed by the Company or any of its Subsidiaries: 
  

			
	 Date
	  	Annual Percentage of
Series 1 Option
Shares Vested
	 Company’s fiscal year ending on or around
[                ]
	  	25%

  

	1 	 Series 1 Option Shares to equal 80% of options granted by the Company to Optionee. 

	2 	 Series 2 Option Shares to equal 20% of options granted by the Company to Optionee. 

					
	 Company’s fiscal year ending on or around
[                ]
	  	 	25	% 
	 Company’s fiscal year ending on or around
[                ]
	  	 	25	% 
	 Company’s fiscal year ending on or around
[                ]
	  	 	25	% 

 (ii) To the extent the Adjusted EBITDA Target is not achieved in a certain fiscal year (a
“Missed Fiscal Year”), if the Company’s Adjusted EBITDA in a subsequent fiscal year is at least equal to the Adjusted EBITDA Target for such subsequent fiscal year (an “Achieved Fiscal Year”), then for each
Missed Fiscal Year, if the Company’s aggregate Adjusted EBITDA for such Missed Fiscal Year and all subsequent fiscal years (up to and including the Achieved Fiscal Year) is at least equal to the sum of the Adjusted EBITDA Target for such fiscal
years, then the percentage of Option Shares that will be vested for achieving the Achieved Fiscal Year shall include the percentage of the Option Shares that have not previously become vested for such Missed Fiscal Year. If the percentage of Option
Shares for any Missed Fiscal Year is vested in accordance with this Section 3(b)(ii), such Fiscal Year shall no longer be deemed to be a Missed Fiscal Year. The Option shall become vested with respect to any portion of the Series 1
Option Shares with respect to which the Option has not previously become vested (including the portion not previously vested with respect to a Missed Fiscal Year) immediately prior to a Change of Control. 

(c) Series 2 Option Shares. The Series 2 Option Shares shall become vested only immediately prior to a Change of Control and only
if as of such Change of Control, Optionee is, and has been since the date hereof, employed by the Company or any of its Subsidiaries. 
 4. Exercisability. Subject to the terms and conditions herein and in the Plan, Optionee may exercise all or any portion of the Option, to the extent it has vested and is exercisable pursuant to
Section 3 and this Section 4, at any time prior to its expiration as provided under Section 5. 
 5. Expiration of Option. 
 (a) Normal Expiration. Subject to the
earlier expiration pursuant to Section 5(b), the Option shall expire and be forfeited without payment of any kind upon the tenth anniversary of the date hereof. 
 (b) Early Expiration. Any portion of the Option that was not vested on the date of the termination of Optionee’s employment or engagement with the Company or its Subsidiaries for any reason (a
“Separation”) shall expire and be forfeited without payment of any kind on the date of such Separation (the “Separation Date”). Any portion of the Option that was vested on the date of a Separation shall expire and
be forfeited without payment of any kind upon the earlier of (i) 30 days after the date of such Separation and (ii) the tenth anniversary of the date hereof; provided that in the event the Separation is a result of a termination by
the Company and/or any of its Subsidiaries for Cause or the resignation of Optionee (other than, if Optionee is a GR Participant, the resignation by Optionee for Good Reason), any portion of the Option that was vested shall also expire and be
forfeited without payment of any kind on the Separation Date. 
 (c) Effect of Expiration. Notwithstanding anything to
the contrary herein, any vested and exercisable portion of the Option that is not exercised prior to the expiration thereof as set forth in this Agreement shall expire and be forfeited without payment upon such expiration. 

6. Procedure for Exercise. Subject to the terms and conditions herein and in the Plan, Optionee may exercise all or any portion of
the Option, to the extent it has vested and is exercisable, at any time prior to its expiration, by delivering written notice to the Company (to the attention of the Company’s Secretary) accompanied by payment in full of the aggregate Series 1
Option Share Exercise 

  
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Price and Series 2 Option Share Exercise Price, as applicable, therefore in cash (by check, money order or wire transfer of immediately available funds). In the sole discretion of the Committee,
Optionee may engage in a so-called “cashless exercise”, provided that the Optionee or other person exercising the Option and each other party involved in any such exercise (in each case as permitted hereunder and under the
Plan) shall comply with such procedures and conditions, including, without limitation, such conditions, if any, as the Committee may deem necessary to avoid adverse accounting effects to the Company or any of its Subsidiaries, and enter into such
agreements, of indemnity or otherwise, as the Company shall specify. As a condition to any exercise of the Option, (i) Optionee shall permit the Company to deliver to Optionee all financial and other information regarding the Company and its
Subsidiaries it believes necessary to enable Optionee to make an informed investment decision, (ii) Optionee shall make all customary investment representations which the Company requires (including reaffirmation of the representations and
acknowledgements made by Optionee under the Plan) and (iii) if at the time of such exercise Optionee is not a party to the Stockholders Agreement, Optionee shall execute and deliver a joinder to the Stockholders Agreement in the form attached
hereto as Exhibit B (the “Joinder”). 
 7. Repurchase of Option Shares Upon Separation. The
Company and Optionee acknowledge and agree that upon a Separation, Optionee shall be required to sell to the Company, and the Company shall be required to repurchase from Optionee, all of the Option Shares pursuant to the terms and conditions set
forth in the Stockholders Agreement (it being agreed, for the avoidance of doubt, that no Option Shares shall be issued to Optionee unless and until Optionee has become a party to the Stockholders Agreement by executing and delivering to the Company
the Joinder. 
 8. Dividend Transaction. 
 (a) If the Company declares and pays a dividend on its shares of Common Stock prior to a Change of Control (a “Common Dividend”), then subject to the terms and conditions hereof, Optionee
shall be entitled to receive the payments described in this Section 8, if any. 
 (b) Series 1 Bonus
Payments. 
 (i) If there are any Vested Series 1 Option Shares as of the date such Common Dividend is paid, then Optionee
shall be entitled to receive (without duplication and, in each case, determined as of the day payment of such Common Dividend is made) a special bonus equal to the amount, if any, by which the Unpaid Bonus Amount exceeds the aggregate Series 1
Option Share Exercise Price of all Vested Series 1 Option Shares. 
 (ii) If any unvested Series 1 Option Shares become Vested
Series 1 Option Shares after the date that a Common Dividend is paid and prior to the first occurrence of a Specified Event (as defined in subparagraph (iii) immediately below), then Optionee shall be entitled to receive (without duplication,
and in each case, determined as of such vesting date) a special bonus equal to the amount, if any, by which the Unpaid Bonus Amount exceeds the aggregate Series 1 Option Share Exercise Price of all Vested Series 1 Option Shares. 

(iii) Upon the earlier to occur of a (x) Change of Control or (y) a separation from employment by reason of a termination by
the Company and/or any of its Subsidiaries without Cause or, solely in the case of GR Stockholder (as defined in the Stockholders Agreement), by Optionee for Good Reason (as defined in the Stockholders Agreement) (either event being a
“Specified Event”), if the Unpaid Bonus Amount is greater than zero as of the date of such Specified Event, then Optionee shall be entitled to receive (without duplication, and in each case, determined as of the date of such
Specified Event): (A) if the Common FMV Per Share is greater than or equal to the Series 1 Option Share Exercise 

  
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Price, a special bonus in an amount equal to the Unpaid Bonus Amount; or (B) if the Common FMV Per Share is less than the Series 1 Option Share Exercise Price, a special bonus equal to the
amount, if any by which the Unpaid Bonus Amount exceeds the Series 1 Out of the Money Amount. 
 (c) Series 2 Bonus
Payments. Upon a Change of Control, Optionee shall be entitled to receive (without duplication, and in each case determined as of the day immediately prior to such Change of Control): (A) if the Common FMV Per Share is greater than the
Series 2 Option Share Exercise Price, a special bonus in an amount equal to (1) the aggregate number of Series 2 Options Shares subject to the Option, multiplied by (2) the Total Common Dividends Per Share (the “Maximum
Series 2 Bonus Amount”); or (B) if the Common FMV Per Share is less than or equal to the Series 2 Option Share Exercise Price, a special bonus equal to the amount, if any, by which the Maximum Series 2 Bonus Amount exceeds the Series 2
Out of the Money Amount. 
 (d) Payments; Withholdings. Any payment required to be made under this Section 8
shall, at the Company’s election, be made on the Company’s and its Subsidiaries’ next regularly scheduled payroll date after the date on which Optionee becomes entitled to receive such payment pursuant to paragraph (b) or
paragraph (c) immediately above. Notwithstanding anything herein to the contrary, and without limiting Section 5.3 of the Plan, the Company or any of its Subsidiaries shall be entitled to deduct and withhold from the consideration
otherwise payable to Optionee hereunder such amounts as it is required to deduct and withhold with respect to the making of such payment under the Code and the rules and regulations promulgated thereunder, or any provision of state, local, or
non-U.S. law relating to taxes. To the extent that amounts are so withheld by the Company or any of its Subsidiaries, such withheld amounts shall be treated for all purposes of this Agreement as having been paid to Optionee in respect of which such
deduction and withholding was made by the Company or any of its Subsidiaries. 
 (e) Effect of Separation. Except as
expressly provided in Section 8(b)(iii), in no event shall Optionee be entitled to receive any payment pursuant to this Section 8 after, and any rights with respect thereto shall be forfeited upon, the effective date of a separation from
employment. For the avoidance of doubt, to the extent the Option has expired or been exercised or forfeited with respect to any Option Shares, no payments shall be made with respect to such Option Shares, and the calculations of the Unpaid Bonus
Amount or Maximum Series 2 Bonus Amount, or otherwise related to such Options Shares, required hereunder shall be made without giving effect to any such expiration, exercise or forfeiture prior to the time of such calculation. 

9. Non-Solicitation; Confidentiality. 
 (a) Optionee agrees that, during the term of his employment with the Company and/or its Subsidiaries and for a period of eighteen (18) months following Optionee’s Separation for any reason (the
“Restricted Period”), without the prior written consent of Company (and other than on behalf of the Company Group), Optionee shall not, on his own behalf or on behalf of any Person, directly or indirectly (i) hire or solicit
the employment of any employee who has been employed by any of the Company Group at any time during the six (6) month period immediately preceding the date of such hire or solicitation, or (ii) solicit the suppliers or customers of any of
the Company Group, or discourage such suppliers or customers from doing business with any of the Company Group. 
 (b) Optionee
agrees not to use, disclose or make accessible to any other Person any Confidential Information pertaining to the businesses of the Company Group at any time, except (i) while employed by Company or its Subsidiaries, in the business of and for
the benefit of the Company Group, or (ii) when required to do so by a court of competent jurisdiction, by any governmental agency having supervisory authority over the business of the Company Group, or by any administrative body or legislative
body (including a committee thereof) with jurisdiction to order any of the Company 

  
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Group to divulge, disclose or make accessible such information. For purposes of this Agreement, “Confidential Information” shall mean non-public information concerning the
Company Group’s financial data, statistical data, strategic business plans, product development (or other proprietary product data), customer and supplier lists, customer and supplier information, information relating to governmental relations,
discoveries, practices, processes, methods, trade secrets, marketing plans and other non-public, proprietary and confidential information of any of the Company Group that, in any case, other than as a result of Optionee’s breach of this
Agreement or any other agreement with any of the Company Group or any of their Affiliates, is not otherwise generally available to the public and has not been disclosed by the Company Group to others not subject to confidentiality agreements. In the
event of a Separation for any reason, Optionee shall immediately return to Company all Confidential Information in Optionee’s possession. 
 (c) The parties hereto agree that the covenants contained in this Section 8 are reasonable covenants under the circumstances, and further agree that if, in the opinion of any court of
competent jurisdiction such covenants are not reasonable in any respect, such court shall have the right, power and authority to excise or modify such provision or provisions of these covenants as to the court shall appear not reasonable and to
enforce the remainder of these covenants as so amended. Optionee agrees that any breach of the covenants contained in this Section 8 would irreparably injure the Company Group. Accordingly, Optionee agrees that the Company, in addition
to pursuing any other remedies it may have in law or in equity, may obtain an injunction against Optionee from any court having jurisdiction over the matter, restraining any breach or threatened breach of this Section 8. In addition, in
the event of a breach by Optionee of this Section 8, the Restricted Period shall be automatically extended by the amount of time between the initial occurrence of such breach or violation and the time when such breach or violation has
been duly cured. 
 10. Restrictions on Transfer. 

(a) The Option, and Optionee’s rights and obligations under this Agreement, may not be assigned or transferred other than by will or
the laws of descent and distribution and, during the lifetime of Optionee (with the exception of being transferred during life to a trust wholly-owned by and under the control of the Participant), may be exercised only by Optionee (or his legal
guardian, legal representative or trustee). In the event of the death of Optionee, exercise of the Option shall be made only: (a) by the executor or administrator of the estate of the deceased Optionee or the Person or Persons to whom the
deceased Optionee’s rights under the Option shall pass by will or the laws of descent and distribution; and (b) to the extent that the deceased Optionee was entitled thereto at the date of his death. 

(b) All Option Shares are subject to the restrictions on transfer set forth in the Stockholders Agreement. Certificates for all Option
Shares shall bear such legends as required by the Stockholders Agreement or as the Company deems necessary or desirable in connection with the Securities Act or other rules, regulations or laws. 

11. Amendment. Except as otherwise provided herein or in the Plan, any provision of this Agreement may be amended or waived only
with the prior written consent of Optionee and the Company. 
 12. Successors and Assigns. Except as otherwise expressly
provided herein or in the Plan, all covenants and agreements contained in this Agreement by or on behalf of any of the parties hereto shall bind and inure to the benefit of the respective successors and permitted assigns of the parties hereto
whether so expressed or not. 
 13. Severability. Whenever possible, each provision of this Agreement shall be
interpreted in such manner as to be effective and valid under applicable law, but if any provision of this Agreement is held to be prohibited by or invalid under applicable law, such provision shall be ineffective only to the extent of such
prohibition or invalidity, without invalidating the remainder of this Agreement. 

  
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 14. Counterparts. This Agreement may be executed simultaneously in two or more
counterparts (including by means of facsimile or electronic transmission in portable document format), each of which shall constitute an original, but all of which taken together shall constitute one and the same Agreement. 

15. Descriptive Headings. The descriptive headings of this Agreement are inserted for convenience only and do not constitute a
part of this Agreement. 
 16. Governing Law. All questions concerning the construction, validity and interpretation of
this Agreement shall be governed by the internal law, and not the law of conflicts, of State of Delaware. 
 17. Waiver of
Jury Trial. EACH OF THE PARTIES HEREBY WAIVES TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY WITH RESPECT TO ANY ACTION OR LIABILITY DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER OR IN CONNECTION WITH
THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED BY THIS AGREEMENT. EACH OF THE PARTIES HEREBY (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT,
IN THE EVENT OF ANY SUCH ACTION OR LIABILITY, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT AND THE TRANSACTIONS CONTEMPLATED BY THIS AGREEMENT, AS APPLICABLE, BY, AMONG OTHER
THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION. 
 18. Notices. All notices, demands or other
communications to be given or delivered under or by reason of the provisions of this Agreement shall be in writing and shall be either personally delivered, mailed by first class mail (postage prepaid and return receipt requested), sent by reputable
overnight courier services (charges prepaid) to the recipient at the address below indicated: 
 If to the Company:

 NPC International Holdings, Inc. 

c/o Olympus Growth Fund V, L.P. 
 Metro Center 
 One Station Place 

Stamford, CT 06902 
 Attention: Paul Rubin and Evan Eason 
 with a copy to:

 Kirkland & Ellis LLP 

300 North LaSalle Street 
 Chicago, IL 60654 
 Attention: John A. Schoenfeld, P.C. 

If to the Optionee: 
 At the Optionees address indicated in 
 the Company’s records

 or to such other address or to the attention of such other person as the recipient party has specified by prior written notice to the sending
party. Any notice under this Agreement shall be deemed to have been given when so delivered or sent by overnight courier service or, if mailed, five days after deposit in the U.S. mail. 

19. Rule 701 Compensation. The Company and Optionee acknowledge and agree that this Agreement has been executed and delivered, and
the Options have been granted hereunder, in connection with and as a part of the compensation and incentive arrangements between the Company and Optionee. The grant of the Options hereunder and any issuance of Option Shares upon exercise of the
Options are intended to qualify as an exempt offering under Rule 701 of the Securities Act. 
 20. Entire Agreement. This
Agreement, the Plan and the other agreements contemplated hereby and thereby constitute the entire understanding between Optionee and the Company, and supersedes all other agreements, whether written or oral, with respect to the subject matter
hereof. 
 21. Certain Definitions. For purposes of this Agreement, the following terms have the meanings given to them
below: 

  
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 “Adjusted EBITDA” of the Company and its Subsidiaries for an applicable
period shall mean (A) their consolidated net income or loss for such period, plus (B) to the extent (but only to the extent) deducted in such period in determining such net income or loss, (i) interest, (ii) income taxes,
(iii) depreciation and amortization (including amortization of debt issue expenses, small wares amortization and deferred rent amortization), (iv) facility impairment charges, (v) pre-opening expenses, (vi) transaction costs
incurred for acquisitions (expensed in accordance with ACS 805), (vii) non-cash equity-based compensation expense (expensed in accordance with ASC 718) and (viii) the annual advisory fee paid by the Company and/or its Subsidiaries to
Olympus Advisors V, LLC, in each case on a consolidated basis for that fiscal year determined in accordance with GAAP (it being acknowledged and agreed that rent shall be determined on a cash basis). Notwithstanding anything to the contrary herein,
Adjusted EBITDA shall be adjusted as determined in good faith by the Board in consultation with the Chief Executive Officer and Chief Financial Officer of the Company for the proforma effect of acquisitions, divestitures, sale leaseback transactions
and the annualization of new store development. 
 “Adjusted EBITDA Target” means (i) $115,500,000 with
respect to the Company’s 2012 fiscal year, (ii) $121,300,000 with respect to the Company’s 2013 fiscal year, (iii) $127,400,000 with respect to the Company’s 2014 fiscal year and (iv) $133,700,000 with respect to the
Company’s 2015 fiscal year. Notwithstanding anything to the contrary herein, Adjusted EBITDA Target shall be adjusted as determined in good faith by the Board in consultation with the Chief Executive Officer and Chief Financial Officer of the
Company for the proforma effect of acquisitions, divestitures and sale leaseback transactions. 
 “Common Dividend Per
Share” means, with respect to any particular Common Dividend (as defined in Section 8(a) above), an amount equal to (i) the aggregate amount of cash (and, in the case of any dividend of property other than cash, the fair market
value of such property as determined by the Board) of such Common Dividend, divided by (ii) the aggregate number of shares of Common Stock issued and outstanding as of the date such Common Dividend is paid. 

“Common FMV Per Share” means, as of any time of determination, the per share Fair Market Value (as defined in the
Stockholders Agreement) of the Common Stock; provided that, if determined in connection with a Change of Control, “Common FMV Per Share” shall mean an amount equal to the per share purchase price payable in respect of the
outstanding Common Stock to the holders thereof at the closing of such Change of Control. 

  
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 “Company Group” means the Company and each of its Subsidiaries. 

“Series 1 Option Share Exercise Price” means, as of any date of determination, with respect to any Series 1 Option
Share, an amount equal to $100.00, plus an amount accruing thereon from the date hereof through such date of determination at a rate equal to 9% per annum, compounded annually. 

“Series 1 Out of the Money Amount” means, as of any time of determination, (i) the aggregate number of Vested
Series 1 Option Shares as of such time, multiplied by (ii) the amount, if any, by which the Series 1 Option Share Exercise Price as of such time exceeds the Common FMV Per Share as of such time. 

“Series 2 Option Share Exercise Price” means, with respect to any Series 2 Option Share, an amount equal to $250.00.

 “Series 2 Out of the Money Amount” means, as of any time of determination, (i) the aggregate number of
Series 2 Option Shares subject to the Option as of such time, multiplied by (ii) the amount if any, by which the Series 2 Option Share Exercise Price as of such time exceeds the Common FMV Per Share as of such time. 

“Total Common Dividends Per Share” means, as of any time of determination, an amount equal to the aggregate Common
Dividend Per Share with respect to all Common Dividends made after the date hereof and prior to or in connection with such time of determination. 
 “Unpaid Bonus Amount” means, as of any time of determination, an amount, if any, equal to (a) the product of (i) the Total Common Dividends Per Share as of such time,
multiplied by (ii) the aggregate number of Vested Series 1 Options Shares as of such time, minus (b) the aggregate amount of payments made, or deemed pursuant to Section 8(d) to have been made, to Optionee
pursuant to Section 8(b) prior to such time. 
 “Vested Series 1 Option Share” means, as of any
time of determination, the number of Series 1 Option Share with respect to which the Option has become vested prior to such time pursuant to Section 3(b) hereof. 
 * * * * * 

  
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 IN WITNESS WHEREOF, the parties hereto have executed this Stock Option Agreement on the day
and year first written above. 
  

			
	NPC INTERNATIONAL HOLDINGS, INC.
		
	By:	 	 
	Name:	 	
	Title:	 	
	
	  

	[Optionee]

 Exhibit A 

SPOUSAL CONSENT 
 I, the undersigned spouse of                     , hereby acknowledge that I have read and understand
the contents of the 2011 Stock Option Plan (the “Plan) of NPC International Holdings, Inc. (the “Company”), the Option Agreement between the Company and my spouse for the issuance under the Plan of options to purchase
capital stock of the Company and the other written agreements between the Company and my spouse governing such shares of capital stock (together with the Plan, the “Agreements”). I am aware that the Agreements provide for the
forfeiture of my spouse’s options and/or repurchase of my spouse’s shares of capital stock of the Company issued upon exercise of my spouse’s options under certain circumstances and impose other restrictions on the transfer of such
options and capital stock. I agree that my spouse’s interest in such options and capital stock is subject to the Agreements and any interest I may have in such options or capital stock shall be irrevocably bound by the Agreements and further
that my community property interest, if any, shall be similarly bound by the Agreements. 
 I am aware that the legal, financial
and other matters contained in the Agreements are complex and I am free to seek advice with respect thereto from independent counsel. I have either sought such advice or determined after carefully reviewing the Agreements that I will waive such
right. 
  

							
	Date:                 , 20    	 		 	Signature:	 	  

		 		 	Print Name:	 	 
	  
	 		 		 	
	Witness	 		 		 	

 -- 

 Exhibit B 

JOINDER AGREEMENT 
 THIS JOINDER AGREEMENT (this “Joinder”) is being delivered to NPC International Holdings, Inc., a Delaware corporation (the “Company”). Reference is made to the
Stockholders Agreement, dated as of [            ], by and among the Company and certain stockholders of the Company from time to time party thereto (as amended, modified or restated from
time to time, the “Agreement”). Capitalized terms used but not otherwise defined herein shall have the meaning set forth in the Agreement. 
 The undersigned hereby acknowledges and agrees that its signature below constitutes an executed counterpart signature page to the Agreement and hereby agrees to become a party to the Agreement and to be
subject to, and bound by, all of the terms and conditions of the Agreement to which the Other Stockholders are subject or by which the Other Stockholders are bound. The undersigned hereby acknowledges that it has received a copy of the Agreement and
has had an opportunity to consult with independent legal counsel regarding the terms and conditions therein. 
 IN WITNESS
WHEREOF, the undersigned has executed this Joinder as of the date set forth below. 
  

			
	Signature:	 	 
	Print Name:	 	  

		
	Date:EX-10.19

 Exhibit 10.19 

ISDA® 
 International Swaps and Derivatives Association, Inc. 

2002 MASTER AGREEMENT 
 dated as of February 23, 2012 
  

			
	Coöperatieve Centrale Raiffeisen-	  	NPC International, Inc.
	Boerenleenbank B.A.,	  	
	“Rabobank International”	  	

                      
                                         
                                         
                     and                   
                                         
                                         
                         
 have entered and/or anticipate entering into one or more transactions (each a “Transaction”) that are or will be governed by this 2002 Master Agreement, which includes the schedule (the
“Schedule”), and the documents and other confirming evidence (each a “Confirmation”) exchanged between the parties or otherwise effective for the purpose of confirming or evidencing those Transactions. This 2002 Master Agreement
and the Schedule are together referred to as this “Master Agreement”. 
 Accordingly, the parties agree as follows:— 

 

	1.	Interpretation 

 (a) Definitions.
The terms defined in Section 14 and elsewhere in this Master Agreement will have the meanings therein specified for the purpose of this Master Agreement. 
 (b) Inconsistency. In the event of any inconsistency between the provisions of the Schedule and the other provisions of this Master Agreement, the Schedule will prevail. In the event of any
inconsistency between the provisions of any Confirmation and this Master Agreement, such Confirmation will prevail for the purpose of the relevant Transaction. 
 (c) Single Agreement. All Transactions are entered into in reliance on the fact that this Master Agreement and all Confirmations form a single agreement between the parties (collectively
referred to as this “Agreement”), and the parties would not otherwise enter into any Transactions. 
  

	2.	Obligations 

  

	(a)	General Conditions. 

(i) Each party will make each payment or delivery specified in each Confirmation to be made by it, subject to the other provisions of this
Agreement. 
 (ii) Payments under this Agreement will be made on the due date for value on that date in the place of the account
specified in the relevant Confirmation or otherwise pursuant to this Agreement, in freely transferable funds and in the manner customary for payments in the required currency. Where settlement is by delivery (that is, other than by payment), such
delivery will be made for receipt on the due date in the manner customary for the relevant obligation unless otherwise specified in the relevant Confirmation or elsewhere in this Agreement. 

Copyright © 2002 by International Swaps and Derivatives Association Inc. 

 (iii) Each obligation of each party under Section 2(a)(i) is subject to (1) the
condition precedent that no Event of Default or Potential Event of Default with respect to the other party has occurred and is continuing, (2) the condition precedent that no Early Termination Date in respect of the relevant Transaction has
occurred or been effectively designated and (3) each other condition specified in this Agreement to be a condition precedent for the purpose of this Section 2(a)(iii). 
 (b) Change of Account. Either party may change its account for receiving a payment or delivery by giving notice to the other party at least five Local Business Days
prior to the Scheduled Settlement Date for the payment or delivery to which such change applies unless such other party gives timely notice of a reasonable objection to such change. 
 (c) Netting of Payments. If on any date amounts would otherwise be payable:— 
 (i) in the same currency; and 
 (ii) in respect of the same Transaction,

 by each party to the other, then, on such date, each party’s obligation to make payment of any such amount will be automatically
satisfied and discharged and, if the aggregate amount that would otherwise have been payable by one party exceeds the aggregate amount that would otherwise have been payable by the other party, replaced by an obligation upon the party by which the
larger aggregate amount would have been payable to pay to the other party the excess of the larger aggregate amount over the smaller aggregate amount. 
 The parties may elect in respect of two or more Transactions that a net amount and payment obligation will be determined in respect of all amounts payable on the same date in the same currency in respect
of those Transactions, regardless of whether such amounts are payable in respect of the same Transaction. The election may be made in the Schedule or any Confirmation by specifying that “Multiple Transaction Payment Netting” applies to the
Transactions identified as being subject to the election (in which case clause (ii) above will not apply to such Transactions). If Multiple Transaction Payment Netting is applicable to Transactions, it will apply to those Transactions with
effect from the starting date specified in the Schedule or such Confirmation, or, if a starting date is not specified in the Schedule or such Confirmation, the starting date otherwise agreed by the parties in writing. This election may be made
separately for different groups of Transactions and will apply separately to each pairing of Offices through which the parties make and receive payments or deliveries. 
  

	(d)	Deduction or Withholding for Tax. 

 (i) Gross-Up. All payments under this Agreement will be made without any deduction or withholding for or on account of any Tax unless such deduction or withholding is required by any
applicable law, as modified by the practice of any relevant governmental revenue authority, then in effect. If a party is so required to deduct or withhold, then that party (“X”) will:— 

(1) promptly notify the other party (“Y”) of such requirement; 

(2) pay to the relevant authorities the full amount required to be deducted or withheld (including the full amount required to be deducted
or withheld from any additional amount paid by X to Y under this Section 2(d)) promptly upon the earlier of determining that such deduction or withholding is required or receiving notice that such amount has been assessed against Y; 

(3) promptly forward to Y an official receipt (or a certified copy), or other documentation reasonably acceptable to Y, evidencing such
payment to such authorities; and 

  

					
		  	2	  	ISDA® 2002

 (4) if such Tax is an Indemnifiable Tax, pay to Y, in addition to the payment to which Y is
otherwise entitled under this Agreement, such additional amount as is necessary to ensure that the net amount actually received by Y (free and clear of Indemnifiable Taxes, whether assessed against X or Y) will equal the full amount Y would have
received had no such deduction or withholding been required. However, X will not be required to pay any additional amount to Y to the extent that it would not be required to be paid but for:— 

(A) the failure by Y to comply with or perform any agreement contained in Section 4(a)(i), 4(a)(iii) or 4(d); or 

(B) the failure of a representation made by Y pursuant to Section 3(f) to be accurate and true unless such failure would not have
occurred but for (I) any action taken by a taxing authority, or brought in a court of competent jurisdiction, after a Transaction is entered into (regardless of whether such action is taken or brought with respect to a party to this Agreement)
or (II) a Change in Tax Law. 
 (ii) Liability. If:— 

(1) X is required by any applicable law, as modified by the practice of any relevant governmental revenue authority, to make any deduction
or withholding in respect of which X would not be required to pay an additional amount to Y under Section 2(d)(i)(4); 
 (2)
X does not so deduct or withhold; and 
 (3) a liability resulting from such Tax is assessed directly against X, 

then, except to the extent Y has satisfied or then satisfies the liability resulting from such Tax, Y will promptly pay to X the amount of
such liability (including any related liability for interest, but including any related liability for penalties only if Y has failed to comply with or perform any agreement contained in Section 4(a)(i), 4(a)(iii) or 4(d)). 

 

	3.	Representations 

 Each party makes the
representations contained in Sections 3(a), 3(b), 3(c), 3(d), 3(e) and 3(f) and, if specified in the Schedule as applying, 3(g) to the other party (which representations will be deemed to be repeated by each party on each date on which a Transaction
is entered into and, in the case of the representations in Section 3(f), at all times until the termination of this Agreement). If any “Additional Representation” is specified in the Schedule or any Confirmation as applying, the party
or parties specified for such Additional Representation will make and, if applicable, be deemed to repeat such Additional Representation at the time or times specified for such Additional Representation. 

 

	(a)	Basic Representations. 

 (i) Status. It is duly organised and validly existing under the laws of the jurisdiction of its organisation or incorporation and, if relevant under such laws, in good standing; 

(ii) Powers. It has the power to execute this Agreement and any other documentation relating to this Agreement to which it
is a party, to deliver this Agreement and any other documentation relating to this Agreement that it is required by this Agreement to deliver and to perform its obligations under this Agreement and any obligations it has under any Credit Support
Document to which it is a party and has taken all necessary action to authorise such execution, delivery and performance; 

  

					
		  	3	  	ISDA®
2002

 (iii) No
Violation or Conflict. Such execution, delivery and performance do not violate or conflict with any law applicable to it, any provision of its constitutional documents, any order or judgment of any court or other agency of
government applicable to it or any of its assets or any contractual restriction binding on or affecting it or any of its assets; 
 (iv) Consents. All governmental and other consents that are required to have been obtained by it with respect to this Agreement or any Credit Support Document to which it is a party have
been obtained and are in full force and effect and all conditions of any such consents have been complied with; and 
 (v)
Obligations Binding. Its obligations under this Agreement and any Credit Support Document to which it is a party constitute its legal, valid and binding obligations, enforceable in accordance with their respective terms (subject to
applicable bankruptcy, reorganisation, insolvency, moratorium or similar laws affecting creditors’ rights generally and subject, as to enforceability, to equitable principles of general application (regardless of whether enforcement is sought
in a proceeding in equity or at law)). 
 (b) Absence of Certain Events. No Event of Default or Potential Event of Default or, to
its knowledge, Termination Event with respect to it has occurred and is continuing and no such event or circumstance would occur as a result of its entering into or performing its obligations under this Agreement or any Credit Support Document to
which it is a party. 
 (c) Absence of Litigation. There is not pending or, to its knowledge, threatened against it, any of its
Credit Support Providers or any of its applicable Specified Entities any action, suit or proceeding at law or in equity or before any court, tribunal, governmental body, agency or official or any arbitrator that is likely to affect the legality,
validity or enforceability against it of this Agreement or any Credit Support Document to which it is a party or its ability to perform its obligations under this Agreement or such Credit Support Document. 

(d) Accuracy of Specified Information. All applicable information that is furnished in writing by or on behalf of it to the other party and
is identified for the purpose of this Section 3(d) in the Schedule is, as of the date of the information, true, accurate and complete in every material respect. 
 (e) Payer Tax Representation. Each representation specified in the Schedule as being made by it for the purpose of this Section 3(e) is accurate and true. 

(f) Payee Tax Representations. Each representation specified in the Schedule as being made by it for the purpose of this Section 3(f)
is accurate and true. 
 (g) No Agency. It is entering into this Agreement, including each Transaction, as principal and not as
agent of any person or entity. 
  

	4.	Agreements 

 Each party agrees with the
other that, so long as either party has or may have any obligation under this Agreement or under any Credit Support Document to which it is a party:— 
 (a) Furnish Specified Information. It will deliver to the other party or, in certain cases under clause (iii) below, to such government or taxing authority as the
other party reasonably directs:— 
 (i) any forms, documents or certificates relating to taxation specified in the
Schedule or any Confirmation; 
 (ii) any other documents specified in the Schedule or any Confirmation; and 

  

					
		  	4	  	ISDA®
2002

 (iii) upon reasonable demand by such other party, any form or document that may be required
or reasonably requested in writing in order to allow such other party or its Credit Support Provider to make a payment under this Agreement or any applicable Credit Support Document without any deduction or withholding for or on account of any Tax
or with such deduction or withholding at a reduced rate (so long as the completion, execution or submission of such form or document would not materially prejudice the legal or commercial position of the party in receipt of such demand), with any
such form or document to be accurate and completed in a manner reasonably satisfactory to such other party and to be executed and to be delivered with any reasonably required certification, 
 in each case by the date specified in the Schedule or such Confirmation or, if none is specified, as soon as reasonably practicable. 
 (b) Maintain Authorisations. It will use all reasonable efforts to maintain in full force and effect all consents of any governmental or other authority that are required to be obtained by
it with respect to this Agreement or any Credit Support Document to which it is a party and will use all reasonable efforts to obtain any that may become necessary in the future. 
 (c) Comply With Laws. It will comply in all material respects with all applicable laws and orders to which it may be subject if failure so to comply would materially impair its ability to
perform its obligations under this Agreement or any Credit Support Document to which it is a party. 
 (d) Tax Agreement. It will
give notice of any failure of a representation made by it under Section 3(f) to be accurate and true promptly upon learning of such failure. 
 (e) Payment of Stamp Tax. Subject to Section 11, it will pay any Stamp Tax levied or imposed upon it or in respect of its execution or performance of this Agreement by a jurisdiction in
which it is incorporated, organised, managed and controlled or considered to have its seat, or where an Office through which it is acting for the purpose of this Agreement is located (“Stamp Tax Jurisdiction”), and will indemnify the other
party against any Stamp Tax levied or imposed upon the other party or in respect of the other party’s execution or performance of this Agreement by any such Stamp Tax Jurisdiction which is not also a Stamp Tax Jurisdiction with respect to the
other party. 
  

	5.	Events of Default and Termination Events 

(a) Events of Default. The occurrence at any time with respect to a party or, if applicable, any Credit Support
Provider of such party or any Specified Entity of such party of any of the following events constitutes (subject to Sections 5(c) and 6(e)(iv)) an event of default (an “Event of Default”) with respect to such party:—

 (i) Failure to Pay or Deliver. Failure by the party to make, when due, any payment under this Agreement or
delivery under Section 2(a)(i) or 9(h)(i)(2) or (4) required to be made by it if such failure is not remedied on or before the first Local Business Day in the case of any such payment or the first Local Delivery Day in the case of any such
delivery after, in each case, notice of such failure is given to the party; 
 (ii) Breach of Agreement; Repudiation of
Agreement. 
 (1) Failure by the party to comply with or perform any agreement or obligation (other than an obligation to
make any payment under this Agreement or delivery under Section 2(a)(i) or 9(h)(i)(2) or (4) or to give notice of a Termination Event or any agreement or obligation under Section 4(a)(i), 4(a)(iii) or 4(d)) to be complied with or
performed by the party in accordance with this Agreement if such failure is not remedied within 30 days after notice of such failure is given to the party; or 
 (2) the party disaffirms, disclaims, repudiates or rejects, in whole or in part, or challenges the validity of, this Master Agreement, any Confirmation executed and delivered by that party or any
Transaction evidenced by such a Confirmation (or such action is taken by any person or entity appointed or empowered to operate it or act on its behalf); 

  

					
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2002

 (iii) Credit Support Default. 

(1) Failure by the party or any Credit Support Provider of such party to comply with or perform any agreement or obligation to be complied
with or performed by it in accordance with any Credit Support Document if such failure is continuing after any applicable grace period has elapsed; 
 (2) the expiration or termination of such Credit Support Document or the failing or ceasing of such Credit Support Document, or any security interest granted by such party or such Credit Support Provider
to the other party pursuant to any such Credit Support Document, to be in full force and effect for the purpose of this Agreement (in each case other than in accordance with its terms) prior to the satisfaction of all obligations of such party under
each Transaction to which such Credit Support Document relates without the written consent of the other party; or 
 (3) the
party or such Credit Support Provider disaffirms, disclaims, repudiates or rejects, in whole or in part, or challenges the validity of, such Credit Support Document (or such action is taken by any person or entity appointed or empowered to operate
it or act on its behalf); 
 (iv) Misrepresentation. A representation (other than a representation under
Section 3(e) or 3(f)) made or repeated or deemed to have been made or repeated by the party or any Credit Support Provider of such party in this Agreement or any Credit Support Document proves to have been incorrect or misleading in any
material respect when made or repeated or deemed to have been made or repeated; 
 (v) Default Under Specified Transaction.
The party, any Credit Support Provider of such party or any applicable Specified Entity of such party:— 
 (1)
defaults (other than by failing to make a delivery) under a Specified Transaction or any credit support arrangement relating to a Specified Transaction and, after giving effect to any applicable notice requirement or grace period, such default
results in a liquidation of, an acceleration of obligations under, or an early termination of, that Specified Transaction; 
 (2)
defaults, after giving effect to any applicable notice requirement or grace period, in making any payment due on the last payment or exchange date of, or any payment on early termination of, a Specified Transaction (or, if there is no applicable
notice requirement or grace period, such default continues for at least one Local Business Day); 
 (3) defaults in making any
delivery due under (including any delivery due on the last delivery or exchange date of) a Specified Transaction or any credit support arrangement relating to a Specified Transaction and, after giving effect to any applicable notice requirement or
grace period, such default results in a liquidation of, an acceleration of obligations under, or an early termination of, all transactions outstanding under the documentation applicable to that Specified Transaction; or 

(4) disaffirms, disclaims, repudiates or rejects, in whole or in part, or challenges the validity of, a Specified Transaction or any
credit support arrangement relating to a Specified Transaction that is, in either case, confirmed or evidenced by a document or other confirming evidence executed and delivered by that party, Credit Support Provider or Specified Entity (or such
action is taken by any person or entity appointed or empowered to operate it or act on its behalf); 

  

					
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2002

 (vi) Cross-Default. If “Cross-Default” is specified in the Schedule
as applying to the party, the occurrence or existence of:— 
 (1) a default, event of default or other similar condition or
event (however described) in respect of such party, any Credit Support Provider of such party or any applicable Specified Entity of such party under one or more agreements or instruments relating to Specified Indebtedness of any of them
(individually or collectively) where the aggregate principal amount of such agreements or instruments, either alone or together with the amount, if any, referred to in clause (2) below, is not less than the applicable Threshold Amount (as
specified in the Schedule) which has resulted in such Specified Indebtedness becoming, or becoming capable at such time of being declared, due and payable under such agreements or instruments before it would otherwise have been due and payable; or

 (2) a default by such party, such Credit Support Provider or such Specified Entity (individually or collectively) in making
one or more payments under such agreements or instruments on the due date for payment (after giving effect to any applicable notice requirement or grace period) in an aggregate amount, either alone or together with the amount, if any, referred to in
clause (1) above, of not less than the applicable Threshold Amount; 
 (vii) Bankruptcy. The party, any Credit
Support Provider of such party or any applicable Specified Entity of such party:— 
 (1) is dissolved (other than pursuant
to a consolidation, amalgamation or merger); (2) becomes insolvent or is unable to pay its debts or fails or admits in writing its inability generally to pay its debts as they become due; (3) makes a general assignment, arrangement or
composition with or for the benefit of its creditors; (4)(A) institutes or has instituted against it, by a regulator, supervisor or any similar official with primary insolvency, rehabilitative or regulatory jurisdiction over it in the
jurisdiction of its incorporation or organisation or the jurisdiction of its head or home office, a proceeding seeking a judgment of insolvency or bankruptcy or any other relief under any bankruptcy or insolvency law or other similar law affecting
creditors’ rights, or a petition is presented for its winding-up or liquidation by it or such regulator, supervisor or similar official, or (B) has instituted against it a proceeding seeking a judgment of insolvency or bankruptcy or any
other relief under any bankruptcy or insolvency law or other similar law affecting creditors’ rights, or a petition is presented for its winding-up or liquidation, and such proceeding or petition is instituted or presented by a person or entity
not described in clause (A) above and either (I) results in a judgment of insolvency or bankruptcy or the entry of an order for relief or the making of an order for its winding-up or liquidation or (II) is not dismissed, discharged, stayed
or restrained in each case within 15 days of the institution or presentation thereof; (5) has a resolution passed for its winding-up, official management or liquidation (other than pursuant to a consolidation, amalgamation or merger);
(6) seeks or becomes subject to the appointment of an administrator, provisional liquidator, conservator, receiver, trustee, custodian or other similar official for it or for all or substantially all its assets; (7) has a secured party
take possession of all or substantially all its assets or has a distress, execution, attachment, sequestration or other legal process levied, enforced or sued on or against all or substantially all its assets and such secured party maintains
possession, or any such process is not dismissed, discharged, stayed or restrained, in each case within 15 days thereafter; (8) causes or is subject to any event with respect to it which, under the applicable laws of any jurisdiction, has an
analogous effect to any of the events specified in clauses (1) to (7) above (inclusive); or (9) takes any action in furtherance of, or indicating its consent to, approval of, or acquiescence in, any of the foregoing acts; or

  

					
		  	7	  	ISDA®
2002

 (viii) Merger Without Assumption. The party or any Credit Support Provider of
such party consolidates or amalgamates with, or merges with or into, or transfers all or substantially all its assets to, or reorganises, reincorporates or reconstitutes into or as, another entity and, at the time of such consolidation,
amalgamation, merger, transfer, reorganisation, reincorporation or reconstitution:— 
 (1) the resulting, surviving or
transferee entity fails to assume all the obligations of such party or such Credit Support Provider under this Agreement or any Credit Support Document to which it or its predecessor was a party; or 

(2) the benefits of any Credit Support Document fail to extend (without the consent of the other party) to the performance by such
resulting, surviving or transferee entity of its obligations under this Agreement. 
 (b) Termination Events.
The occurrence at any time with respect to a party or, if applicable, any Credit Support Provider of such party or any Specified Entity of such party of any event specified below constitutes (subject to Section 5(c)) an
Illegality if the event is specified in clause (i) below, a Force Majeure Event if the event is specified in clause (ii) below, a Tax Event if the event is specified in clause (iii) below, a Tax Event Upon Merger if the event is
specified in clause (iv) below, and, if specified to be applicable, a Credit Event Upon Merger if the event is specified pursuant to clause (v) below or an Additional Termination Event if the event is specified pursuant to clause (vi)
below:— 
 (i) Illegality. After giving effect to any applicable provision, disruption fallback or
remedy specified in, or pursuant to, the relevant Confirmation or elsewhere in this Agreement, due to an event or circumstance (other than any action taken by a party or, if applicable, any Credit Support Provider of such party) occurring after a
Transaction is entered into, it becomes unlawful under any applicable law (including without limitation the laws of any country in which payment, delivery or compliance is required by either party or any Credit Support Provider, as the case may be),
on any day, or it would be unlawful if the relevant payment, delivery or compliance were required on that day (in each case, other than as a result of a breach by the party of Section 4(b)):— 

(1) for the Office through which such party (which will be the Affected Party) makes and receives payments or deliveries with respect to
such Transaction to perform any absolute or contingent obligation to make a payment or delivery in respect of such Transaction, to receive a payment or delivery in respect of such Transaction or to comply with any other material provision of this
Agreement relating to such Transaction; or 
 (2) for such party or any Credit Support Provider of such party (which will be the
Affected Party) to perform any absolute or contingent obligation to make a payment or delivery which such party or Credit Support Provider has under any Credit Support Document relating to such Transaction, to receive a payment or delivery under
such Credit Support Document or to comply with any other material provision of such Credit Support Document; 
 (ii) Force
Majeure Event. After giving effect to any applicable provision, disruption fallback or remedy specified in, or pursuant to, the relevant Confirmation or elsewhere in this Agreement, by reason of force majeure or act of state occurring after
a Transaction is entered into, on any day:— 
 (1) the Office through which such party (which will be the Affected Party)
makes and receives payments or deliveries with respect to such Transaction is prevented from performing any absolute or contingent obligation to make a payment or delivery in respect of such Transaction, from receiving a payment or delivery in
respect of such Transaction or from complying with any other material provision of this Agreement relating to such Transaction (or would be so prevented if such payment, delivery or compliance were required on that day), or it becomes impossible or
impracticable for such Office so to perform, receive or comply (or it would be impossible or impracticable for such Office so to perform, receive or comply if such payment, delivery or compliance were required on that day); or 

  

					
		  	8	  	ISDA®
2002

 (2) such party or any Credit Support Provider of such party (which will be the Affected
Party) is prevented from performing any absolute or contingent obligation to make a payment or delivery which such party or Credit Support Provider has under any Credit Support Document relating to such Transaction, from receiving a payment or
delivery under such Credit Support Document or from complying with any other material provision of such Credit Support Document (or would be so prevented if such payment, delivery or compliance were required on that day), or it becomes impossible or
impracticable for such party or Credit Support Provider so to perform, receive or comply (or it would be impossible or impracticable for such party or Credit Support Provider so to perform, receive or comply if such payment, delivery or compliance
were required on that day), 
 so long as the force majeure or act of state is beyond the control of such Office, such party or
such Credit Support Provider, as appropriate, and such Office, party or Credit Support Provider could not, after using all reasonable efforts (which will not require such party or Credit Support Provider to incur a loss, other than immaterial,
incidental expenses), overcome such prevention, impossibility or impracticability; 
 (iii) Tax Event. Due to
(1) any action taken by a taxing authority, or brought in a court of competent jurisdiction, after a Transaction is entered into (regardless of whether such action is taken or brought with respect to a party to this Agreement) or (2) a
Change in Tax Law, the party (which will be the Affected Party) will, or there is a substantial likelihood that it will, on the next succeeding Scheduled Settlement Date (A) be required to pay to the other party an additional amount in respect
of an Indemnifiable Tax under Section 2(d)(i)(4) (except in respect of interest under Section 9(h)) or (B) receive a payment from which an amount is required to be deducted or withheld for or on account of a Tax (except in respect of
interest under Section 9(h)) and no additional amount is required to be paid in respect of such Tax under Section 2(d)(i)(4) (other than by reason of Section 2(d)(i)(4)(A) or (B)); 

(iv) Tax Event Upon Merger. The party (the “Burdened Party”) on the next succeeding Scheduled Settlement Date will
either (1) be required to pay an additional amount in respect of an Indemnifiable Tax under Section 2(d)(i)(4) (except in respect of interest under Section 9(h)) or (2) receive a payment from which an amount has been deducted or
withheld for or on account of any Tax in respect of which the other party is not required to pay an additional amount (other than by reason of Section 2(d)(i)(4)(A) or (B)), in either case as a result of a party consolidating or amalgamating
with, or merging with or into, or transferring all or substantially all its assets (or any substantial part of the assets comprising the business conducted by it as of the date of this Master Agreement) to, or reorganising, reincorporating or
reconstituting into or as, another entity (which will be the Affected Party) where such action does not constitute a Merger Without Assumption; 
 (v) Credit Event Upon Merger. If “Credit Event Upon Merger” is specified in the Schedule as applying to the party, a Designated Event (as defined below) occurs with respect to such
party, any Credit Support Provider of such party or any applicable Specified Entity of such party (in each case, “X”) and such Designated Event does not constitute a Merger Without Assumption, and the creditworthiness of X or, if
applicable, the successor, surviving or transferee entity of X, after taking into account any applicable Credit Support Document, is materially weaker immediately after the occurrence of such Designated Event than that of X immediately prior to the
occurrence of such Designated Event (and, in any such event, such party or its successor, surviving or transferee entity, as appropriate, will be the Affected Party). A “Designated Event” with respect to X means that:— 

(1) X consolidates or amalgamates with, or merges with or into, or transfers all or substantially all its assets (or any substantial part
of the assets comprising the business conducted by X as of the date of this Master Agreement) to, or reorganises, reincorporates or reconstitutes into or as, another entity; 

  

					
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2002

 (2) any person, related group of persons or entity acquires directly or indirectly the
beneficial ownership of (A) equity securities having the power to elect a majority of the board of directors (or its equivalent) of X or (B) any other ownership interest enabling it to exercise control of X; or 

(3) X effects any substantial change in its capital structure by means of the issuance, incurrence or guarantee of debt or the issuance of
(A) preferred stock or other securities convertible into or exchangeable for debt or preferred stock or (B) in the case of entities other than corporations, any other form of ownership interest; or 

(vi) Additional Termination Event. If any “Additional Termination Event” is specified in the Schedule or any
Confirmation as applying, the occurrence of such event (and, in such event, the Affected Party or Affected Parties will be as specified for such Additional Termination Event in the Schedule or such Confirmation). 

 

	(c)	Hierarchy of Events. 

 (i) An event or circumstance that constitutes or gives rise to an Illegality or a Force Majeure Event will not, for so long as that is the case, also constitute or give rise to an Event of Default under
Section 5(a)(i), 5(a)(ii)(1) or 5(a)(iii)(1) insofar as such event or circumstance relates to the failure to make any payment or delivery or a failure to comply with any other material provision of this Agreement or a Credit Support Document,
as the case may be. 
 (ii) Except in circumstances contemplated by clause (i) above, if an event or circumstance which
would otherwise constitute or give rise to an Illegality or a Force Majeure Event also constitutes an Event of Default or any other Termination Event, it will be treated as an Event of Default or such other Temination Event, as the case may be, and
will not constitute or give rise to an Illegality or a Force Majeure Event. 
 (iii) If an event or circumstance which would
otherwise constitute or give rise to a Force Majeure Event also constitutes an Illegality, it will be treated as an Illegality, except as described in clause (ii) above, and not a Force Majeure Event. 

(d) Deferral of Payments and Deliveries During Waiting Period. If an Illegality or a Force Majeure Event has occurred
and is continuing with respect to a Transaction, each payment or delivery which would otherwise be required to be made under that Transaction will be deferred to, and will not be due until:— 

(i) the first Local Business Day or, in the case of a delivery, the first Local Delivery Day (or the first day that would have been a
Local Business Day or Local Delivery Day, as appropriate, but for the occurrence of the event or circumstance constituting or giving rise to that Illegality or Force Majeure Event) following the end of any applicable Waiting Period in respect of
that Illegality or Force Majeure Event, as the case may be; or 
 (ii) if earlier, the date on which the event or circumstance
constituting or giving rise to that Illegality or Force Majeure Event ceases to exist or, if such date is not a Local Business Day or, in the case of a delivery, a Local Delivery Day, the first following day that is a Local Business Day or Local
Delivery Day, as appropriate. 
 (e) Inability of Head or Home Office to Perform Obligations of Branch. If
(i) an Illegality or a Force Majeure Event occurs under Section 5(b)(i)(1) or 5(b)(ii)(1) and the relevant Office is not the Affected Party’s head or home office, (ii) Section 10(a) applies, (iii) the other party seeks
performance of the relevant obligation or 

  

					
		  	10	  	ISDA®
2002

 compliance with the relevant provision by the Affected Party’s head or home office and (iv) the
Affected Party’s head or home office fails so to perform or comply due to the occurrence of an event or circumstance which would, if that head or home office were the Office through which the Affected Party makes and receives payments and
deliveries with respect to the relevant Transaction, constitute or give rise to an Illegality or a Force Majeure Event, and such failure would otherwise constitute an Event of Default under Section 5(a)(i) or 5(a)(iii)(1) with respect to such
party, then, for so long as the relevant event or circumstance continues to exist with respect to both the Office referred to in Section 5(b)(i)(1) or 5(b)(ii)(1), as the case may be, and the Affected Party’s head or home office, such
failure will not constitute an Event of Default under Section 5(a)(i) or 5(a)(iii)(1). 
  

	6.	Early Termination; Close-Out Netting 

 (a)
Right to Terminate Following Event of Default. If at any time an Event of Default with respect to a party (the “Defaulting Party”) has occurred and is then continuing, the other party (the “Non-defaulting Party”)
may, by not more than 20 days notice to the Defaulting Party specifying the relevant Event of Default, designate a day not earlier than the day such notice is effective as an Early Termination Date in respect of all outstanding Transactions. If,
however, “Automatic Early Termination” is specified in the Schedule as applying to a party, then an Early Termination Date in respect of all outstanding Transactions will occur immediately upon the occurrence with respect to such party of
an Event of Default specified in Section 5(a)(vii)(1), (3), (5), (6) or, to the extent analogous thereto, (8), and as of the time immediately preceding the institution of the relevant proceeding or the presentation of the relevant petition
upon the occurrence with respect to such party of an Event of Default specified in Section 5(a)(vii)(4) or, to the extent analogous thereto, (8). 
 (b) Right to Terminate Following Termination Event. 

(i) Notice. If a Termination Event other than a Force Majeure Event occurs, an Affected Party will, promptly upon becoming
aware of it, notify the other party, specifying the nature of that Termination Event and each Affected Transaction, and will also give the other party such other information about that Termination Event as the other party may reasonably require. If
a Force Majeure Event occurs, each party will, promptly upon becoming aware of it, use all reasonable efforts to notify the other party, specifying the nature of that Force Majeure Event, and will also give the other party such other information
about that Force Majeure Event as the other party may reasonably require. 
 (ii) Transfer to Avoid Termination Event.
If a Tax Event occurs and there is only one Affected Party, or if a Tax Event Upon Merger occurs and the Burdened Party is the Affected Party, the Affected Party will, as a condition to its right to designate an Early Termination Date under
Section 6(b)(iv), use all reasonable efforts (which will not require such party to incur a loss, other than immaterial, incidental expenses) to transfer within 20 days after it gives notice under Section 6(b)(i) all its rights and
obligations under this Agreement in respect of the Affected Transactions to another of its Offices or Affiliates so that such Termination Event ceases to exist. 
 If the Affected Party is not able to make such a transfer it will give notice to the other party to that effect within such 20 day period, whereupon the other party may effect such a transfer within 30
days after the notice is given under Section 6(b)(i). 
 Any such transfer by a party under this Section 6(b)(ii) will
be subject to and conditional upon the prior written consent of the other party, which consent will not be withheld if such other party’s policies in effect at such time would permit it to enter into transactions with the transferee on the
terms proposed. 
 (iii) Two Affected Parties. If a Tax Event occurs and there are two Affected Parties, each
party will use all reasonable efforts to reach agreement within 30 days after notice of such occurrence is given under Section 6(b)(i) to avoid that Termination Event. 

  

					
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 (iv) Right to Terminate. 

(1) If:— 

(A) a transfer under Section 6(b)(ii) or an agreement under Section 6(b)(iii), as the case may be, has not been effected with
respect to all Affected Transactions within 30 days after an Affected Party gives notice under Section 6(b)(i); or 
 (B) a
Credit Event Upon Merger or an Additional Termination Event occurs, or a Tax Event Upon Merger occurs and the Burdened Party is not the Affected Party, 
 the Burdened Party in the case of a Tax Event Upon Merger, any Affected Party in the case of a Tax Event or an Additional Termination Event if there are two Affected Parties, or the Non-affected Party in
the case of a Credit Event Upon Merger or an Additional Termination Event if there is only one Affected Party may, if the relevant Termination Event is then continuing, by not more than 20 days notice to the other party, designate a day not earlier
than the day such notice is effective as an Early Termination Date in respect of all Affected Transactions. 
 (2) If at any time
an Illegality or a Force Majeure Event has occurred and is then continuing and any applicable Waiting Period has expired:— 

(A) Subject to clause (B) below, either party may, by not more than 20 days notice to the other party, designate (I) a day not
earlier than the day on which such notice becomes effective as an Early Termination Date in respect of all Affected Transactions or (II) by specifying in that notice the Affected Transactions in respect of which it is designating the relevant day as
an Early Termination Date, a day not earlier than two Local Business Days following the day on which such notice becomes effective as an Early Termination Date in respect of less than all Affected Transactions. Upon receipt of a notice designating
an Early Termination Date in respect of less than all Affected Transactions, the other party may, by notice to the designating party, if such notice is effective on or before the day so designated, designate that same day as an Early Termination
Date in respect of any or all other Affected Transactions. 
 (B) An Affected Party (if the Illegality or Force Majeure Event
relates to performance by such party or any Credit Support Provider of such party of an obligation to make any payment or delivery under, or to compliance with any other material provision of, the relevant Credit Support Document) will only have the
right to designate an Early Termination Date under Section 6(b)(iv)(2)(A) as a result of an Illegality under Section 5(b)(i)(2) or a Force Majeure Event under Section 5(b)(ii)(2) following the prior designation by the other party of an
Early Termination Date, pursuant to Section 6(b)(iv)(2)(A), in respect of less than all Affected Transactions. 
  

	(c)	Effect of Designation. 

 (i) If notice designating an Early Termination Date is given under Section 6(a) or 6(b), the Early Termination Date will occur on the date so designated, whether or not the relevant Event of Default
or Termination Event is then continuing. 
 (ii) Upon the occurrence or effective designation of an Early Termination Date, no
further payments or deliveries under Section 2(a)(i) or 9(h)(i) in respect of the Terminated Transactions will be required to be made, but without prejudice to the other provisions of this Agreement. The amount, if any, payable in respect of an
Early Termination Date will be determined pursuant to Sections 6(e) and 9(h)(ii). 

  

					
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	(d)	Calculations; Payment Date. 

 (i) Statement. On or as soon as reasonably practicable following the occurrence of an Early Termination Date, each party will make the calculations on its part, if any, contemplated by
Section 6(e) and will provide to the other party a statement (1) showing, in reasonable detail, such calculations (including any quotations, market data or information from internal sources used in making such calculations), (2) specifying
(except where there are two Affected Parties) any Early Termination Amount payable and (3) giving details of the relevant account to which any amount payable to it is to be paid. In the absence of written confirmation from the source of a quotation
or market data obtained in determining a Close-out Amount, the records of the party obtaining such quotation or market data will be conclusive evidence of the existence and accuracy of such quotation or market data. 

(ii) Payment Date. An Early Termination Amount due in respect of any Early Termination Date will, together with any amount
of interest payable pursuant to Section 9(h)(ii)(2), be payable (1) on the day on which notice of the amount payable is effective in the case of an Early Termination Date which is designated or occurs as a result of an Event of Default and
(2) on the day which is two Local Business Days after the day on which notice of the amount payable is effective (or, if there are two Affected Parties, after the day on which the statement provided pursuant to clause (i) above by the
second party to provide such a statement is effective) in the case of an Early Termination Date which is designated as a result of a Termination Event. 
 (e) Payments on Early Termination. If an Early Termination Date occurs, the amount, if any, payable in respect of that Early Termination Date (the “Early
Termination Amount”) will be determined pursuant to this Section 6(e) and will be subject to
 Section 6(f). 

(i) Events of Default. If the Early Termination Date results from an Event of Default, the Early Termination Amount will be
an amount equal to (1) the sum of (A) the Termination Currency Equivalent of the Close-out Amount or Close-out Amounts (whether positive or negative) determined by the Non-defaulting Party for each Terminated Transaction or group of
Terminated Transactions, as the case may be, and (B) the Termination Currency Equivalent of the Unpaid Amounts owing to the Non-defaulting Party less (2) the Termination Currency Equivalent of the Unpaid Amounts owing to the Defaulting Party.
If the Early Termination Amount is a positive number, the Defaulting Party will pay it to the Non-defaulting Party; if it is a negative number, the Non-defaulting Party will pay the absolute value of the Early Termination Amount to the Defaulting
Party. 
 (ii) Termination Events. If the Early Termination Date results from a Termination Event:—

 (1) One Affected Party. Subject to clause (3) below, if there is one Affected Party, the Early Termination Amount
will be determined in accordance with Section 6(e)(i), except that references to the Defaulting Party and to the Non-defaulting Party will be deemed to be references to the Affected Party and to the Non-affected Party, respectively. 

(2) Two Affected Parties. Subject to clause (3) below, if there are two Affected Parties, each party will determine an amount
equal to the Termination Currency Equivalent of the sum of the Close-out Amount or Close-out Amounts (whether positive or negative) for each Terminated Transaction or group of Terminated Transactions, as the case may be, and the Early Termination
Amount will be an amount equal to (A) the sum of (I) one-half of the difference between the higher amount so determined (by party “X”) and the lower amount so determined (by party “Y”) and (II) the Termination Currency
Equivalent of the Unpaid Amounts owing to X less (B) the Termination Currency Equivalent of the Unpaid Amounts owing to Y. If the Early Termination Amount is a positive number, Y will pay it to X; if it is a negative number, X will pay the
absolute value of the Early Termination Amount to Y. 

  

					
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 (3) Mid-Market Events. If that Termination Event is an Illegality or a Force Majeure
Event, then the Early Termination Amount will be determined in accordance with clause (1) or (2) above, as appropriate, except that, for the purpose of determining a Close-out Amount or Close-out Amounts, the Determining Party will:—

 (A) if obtaining quotations from one or more third parties (or from any of the Determining Party’s Affiliates), ask each
third party or Affiliate (I) not to take account of the current creditworthiness of the Determining Party or any existing Credit Support Document and (II) to provide mid-market quotations; and 

(B) in any other case, use mid-market values without regard to the creditworthiness of the Determining Party. 

(iii) Adjustment for Bankruptcy. In circumstances where an Early Termination Date occurs because Automatic Early Termination
applies in respect of a party, the Early Termination Amount will be subject to such adjustments as are appropriate and permitted by applicable law to reflect any payments or deliveries made by one party to the other under this Agreement (and
retained by such other party) during the period from the relevant Early Termination Date to the date for payment determined under Section 6(d)(ii). 
 (iv) Adjustment for Illegality or Force Majeure Event. The failure by a party or any Credit Support Provider of such party to pay, when due, any Early Termination Amount will not constitute
an Event of Default under Section 5(a)(i) or 5(a)(iii)(1) if such failure is due to the occurrence of an event or circumstance which would, if it occurred with respect to payment, delivery or compliance related to a Transaction, constitute or
give rise to an Illegality or a Force Majeure Event. Such amount will (1) accrue interest and otherwise be treated as an Unpaid Amount owing to the other party if subsequently an Early Termination Date results from an Event of Default, a Credit
Event Upon Merger or an Additional Termination Event in respect of which all outstanding Transactions are Affected Transactions and (2) otherwise accrue interest in accordance with Section 9(h)(ii)(2). 

(v) Pre-Estimate. The parties agree that an amount recoverable under this Section 6(e) is a reasonable pre-estimate of
loss and not a penalty. Such amount is payable for the loss of bargain and the loss of protection against future risks, and, except as otherwise provided in this Agreement, neither party will be entitled to recover any additional damages as a
consequence of the termination of the Terminated Transactions. 
 (f) Set-Off. Any Early Termination Amount
payable to one party (the “Payee”) by the other party (the “Payer”), in circumstances where there is a Defaulting Party or where there is one Affected Party in the case where either a Credit Event Upon Merger has occurred or any
other Termination Event in respect of which all outstanding Transactions are Affected Transactions has occurred, will, at the option of the Non-defaulting Party or the Non-affected Party, as the case may be (“X”) (and without prior notice
to the Defaulting Party or the Affected Party, as the case may be), be reduced by its set-off against any other amounts (“Other Amounts”) payable by the Payee to the Payer (whether or not arising under this Agreement, matured or contingent
and irrespective of the currency, place of payment or place of booking of the obligation). To the extent that any Other Amounts are so set off, those Other Amounts will be discharged promptly and in all respects. X will give notice to the other
party of any set-off effected under this Section 6(f). 
 For this purpose, either the Early Termination Amount or the Other Amounts (or
the relevant portion of such amounts) may be converted by X into the currency in which the other is denominated at the rate of exchange at which such party would be able, in good faith and using commercially reasonable procedures, to purchase the
relevant amount of such currency. 

  

					
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If an obligation is unascertained, X may in good faith estimate that obligation and set off in respect of the estimate, subject to the relevant party accounting to the other when the obligation
is ascertained. 
 Nothing in this Section 6(f) will be effective to create a charge or other security interest. This Section 6(f)
will be without prejudice and in addition to any right of set-off, offset, combination of accounts, lien, right of retention or withholding or similar right or requirement to which any party is at any time otherwise entitled or subject (whether by
operation of law, contract or otherwise). 
  

	7.	Transfer 

 Subject to
Section 6(b)(ii) and to the extent permitted by applicable law, neither this Agreement nor any interest or obligation in or under this Agreement may be transferred (whether by way of security or otherwise) by either party without the prior
written consent of the other party, except that:— 
 (a) a party may make such a transfer of this Agreement pursuant to a consolidation or
amalgamation with, or merger with or into, or transfer of all or substantially all its assets to, another entity (but without prejudice to any other right or remedy under this Agreement); and 
 (b) a party may make such a transfer of all or any part of its interest in any Early Termination Amount payable to it by a Defaulting Party, together with any amounts payable on or with respect to that
interest and any other rights associated with that interest pursuant to Sections 8, 9(h) and 11. 
 Any purported transfer that is not in
compliance with this Section 7 will be void. 
  

	8.	Contractual Currency 

 (a) Payment
in the Contractual Currency. Each payment under this Agreement will be made in the relevant currency specified in this Agreement for that payment (the “Contractual Currency”). To the extent permitted by applicable law, any
obligation to make payments under this Agreement in the Contractual Currency will not be discharged or satisfied by any tender in any currency other than the Contractual Currency, except to the extent such tender results in the actual receipt by the
party to which payment is owed, acting in good faith and using commercially reasonable procedures in converting the currency so tendered into the Contractual Currency, of the full amount in the Contractual Currency of all amounts payable in respect
of this Agreement. If for any reason the amount in the Contractual Currency so received falls short of the amount in the Contractual Currency payable in respect of this Agreement, the party required to make the payment will, to the extent permitted
by applicable law, immediately pay such additional amount in the Contractual Currency as may be necessary to compensate for the shortfall. If for any reason the amount in the Contractual Currency so received exceeds the amount in the Contractual
Currency payable in respect of this Agreement, the party receiving the payment will refund promptly the amount of such excess. 
 (b)
Judgments. To the extent permitted by applicable law, if any judgment or order expressed in a currency other than the Contractual Currency is rendered (i) for the payment of any amount owing in respect of this Agreement,
(ii) for the payment of any amount relating to any early termination in respect of this Agreement or (iii) in respect of a judgment or order of another court for the payment of any amount described in clause (i) or (ii) above,
the party seeking recovery, after recovery in full of the aggregate amount to which such party is entitled pursuant to the judgment or order, will be entitled to receive immediately from the other party the amount of any shortfall of the Contractual
Currency received by such party as a consequence of sums paid in such other currency and will refund promptly to the other party any excess of the Contractual Currency received by such party as a consequence of sums paid in such other currency if
such shortfall or such excess arises or results from any variation between the rate of exchange at which the Contractual Currency is converted into the currency of the judgment or order for the purpose of such judgment or order and the rate of
exchange at which such party is able, acting in good faith and using commercially reasonable procedures in converting the currency received into the Contractual Currency, to purchase the Contractual Currency with the amount of the currency of the
judgment or order actually received by such party. 

  

					
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 (c) Separate Indemnities. To the extent permitted by applicable law, the indemnities in this
Section 8 constitute separate and independent obligations from the other obligations in this Agreement, will be enforceable as separate and independent causes of action, will apply notwithstanding any indulgence granted by the party to which
any payment is owed and will not be affected by judgment being obtained or claim or proof being made for any other sums payable in respect of this Agreement. 
 (d) Evidence of Loss. For the purpose of this Section 8, it will be sufficient for a party to demonstrate that it would have suffered a loss had an actual exchange or purchase been
made. 
  

	9.	Miscellaneous 

 (a) Entire
Agreement. This Agreement constitutes the entire agreement and understanding of the parties with respect to its subject matter. Each of the parties acknowledges that in entering into this Agreement it has not relied on any oral or written
representation, warranty or other assurance (except as provided for or referred to in this Agreement) and waives all rights and remedies which might otherwise be available to it in respect thereof, except that nothing in this Agreement will limit or
exclude any liability of a party for fraud. 
 (b) Amendments. An amendment, modification or waiver in respect of this Agreement
will only be effective if in writing (including a writing evidenced by a facsimile transmission) and executed by each of the parties or confirmed by an exchange of telexes or by an exchange of electronic messages on an electronic messaging system.

 (c) Survival of Obligations. Without prejudice to Sections 2(a)(iii) and 6(c)(ii), the obligations of the parties under this
Agreement will survive the termination of any Transaction. 
 (d) Remedies Cumulative. Except as provided in this Agreement, the
rights, powers, remedies and privileges provided in this Agreement are cumulative and not exclusive of any rights, powers, remedies and privileges provided by law. 
 (e) Counterparts and Confirmations. 
 (i) This Agreement (and each
amendment, modification and waiver in respect of it) may be executed and delivered in counterparts (including by facsimile transmission and by electronic messaging system), each of which will be deemed an original. 

(ii) The parties intend that they are legally bound by the terms of each Transaction from the moment they agree to those terms (whether
orally or otherwise). A Confirmation will be entered into as soon as practicable and may be executed and delivered in counterparts (including by facsimile transmission) or be created by an exchange of telexes, by an exchange of electronic messages
on an electronic messaging system or by an exchange of e-mails, which in each case will be sufficient for all purposes to evidence a binding supplement to this Agreement. The parties will specify therein or through another effective means that any
such counterpart, telex, electronic message or e-mail constitutes a Confirmation. 
 (f) No Waiver of Rights.
A failure or delay in exercising any right, power or privilege in respect of this Agreement will not be presumed to operate as a waiver, and a single or partial exercise of any right, power or privilege will not be presumed to preclude any
subsequent or further exercise, of that right, power or privilege or the exercise of any other right, power or privilege. 
 (g) Headings.
The headings used in this Agreement are for convenience of reference only and are not to affect the construction of or to be taken into consideration in interpreting this Agreement. 

  

					
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	(h)	Interest and Compensation. 

 (i) Prior to Early Termination. Prior to the occurrence or effective designation of an Early Termination Date in respect of the relevant Transaction:— 

(1) Interest on Defaulted Payments. If a party defaults in the performance of any payment obligation, it will, to the extent
permitted by applicable law and subject to Section 6(c), pay interest (before as well as after judgment) on the overdue amount to the other party on demand in the same currency as the overdue amount, for the period from (and including) the
original due date for payment to (but excluding) the date of actual payment (and excluding any period in respect of which interest or compensation in respect of the overdue amount is due pursuant to clause (3)(B) or (C) below), at the
Default Rate. 
 (2) Compensation for Defaulted Deliveries. If a party defaults in the performance of any obligation
required to be settled by delivery, it will on demand (A) compensate the other party to the extent provided for in the relevant Confirmation or elsewhere in this Agreement and (B) unless otherwise provided in the relevant Confirmation or
elsewhere in this Agreement, to the extent permitted by applicable law and subject to Section 6(c), pay to the other party interest (before as well as after judgment) on an amount equal to the fair market value of that which was required to be
delivered in the same currency as that amount, for the period from (and including) the originally scheduled date for delivery to (but excluding) the date of actual delivery (and excluding any period in respect of which interest or compensation in
respect of that amount is due pursuant to clause (4) below), at the Default Rate. The fair market value of any obligation referred to above will be determined as of the originally scheduled date for delivery, in good faith and using
commercially reasonable procedures, by the party that was entitled to take delivery. 
 (3) Interest on Deferred Payments.
If:— 
 (A) a party does not pay any amount that, but for Section 2(a)(iii), would have been payable, it will, to
the extent permitted by applicable law and subject to Section 6(c) and clauses (B) and (C) below, pay interest (before as well as after judgment) on that amount to the other party on demand (after such amount becomes payable) in the
same currency as that amount, for the period from (and including) the date the amount would, but for Section 2(a)(iii), have been payable to (but excluding) the date the amount actually becomes payable, at the Applicable Deferral Rate;

 (B) a payment is deferred pursuant to Section 5(d), the party which would otherwise have been required to make that
payment will, to the extent permitted by applicable law, subject to Section 6(c) and for so long as no Event of Default or Potential Event of Default with respect to that party has occurred and is continuing, pay interest (before as well as
after judgment) on the amount of the deferred payment to the other party on demand (after such amount becomes payable) in the same currency as the deferred payment, for the period from (and including) the date the amount would, but for
Section 5(d), have been payable to (but excluding) the earlier of the date the payment is no longer deferred pursuant to Section 5(d) and the date during the deferral period upon which an Event of Default or Potential Event of Default with
respect to that party occurs, at the Applicable Deferral Rate; or 
 (C) a party fails to make any payment due to the occurrence
of an Illegality or a Force Majeure Event (after giving effect to any deferral period contemplated by clause (B) above), it will, to the extent permitted by applicable law, subject to Section 6(c) and for so long as the event or
circumstance giving rise to that Illegality or Force Majeure Event 

  

					
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 continues and no Event of Default or Potential Event of Default with respect to that party
has occurred and is continuing, pay interest (before as well as after judgment) on the overdue amount to the other party on demand in the same currency as the overdue amount, for the period from (and including) the date the party fails to make the
payment due to the occurrence of the relevant Illegality or Force Majeure Event (or, if later, the date the payment is no longer deferred pursuant to Section 5(d)) to (but excluding) the earlier of the date the event or circumstance giving rise
to that Illegality or Force Majeure Event ceases to exist and the date during the period upon which an Event of Default or Potential Event of Default with respect to that party occurs (and excluding any period in respect of which interest or
compensation in respect of the overdue amount is due pursuant to clause (B) above), at the Applicable Deferral Rate. 
 (4)
Compensation for Deferred Deliveries. If:— 
 (A) a party does not perform any obligation that, but for
Section 2(a)(iii), would have been required to be settled by delivery; 
 (B) a delivery is deferred pursuant to
Section 5(d); or 
 (C) a party fails to make a delivery due to the occurrence of an Illegality or a Force Majeure Event at
a time when any applicable Waiting Period has expired, 
 the party required (or that would otherwise have been required) to make
the delivery will, to the extent permitted by applicable law and subject to Section 6(c), compensate and pay interest to the other party on demand (after, in the case of clauses (A) and (B) above, such delivery is required) if and to
the extent provided for in the relevant Confirmation or elsewhere in this Agreement. 
 (ii) Early Termination.
Upon the occurrence or effective designation of an Early Termination Date in respect of a Transaction:— 
 (1)
Unpaid Amounts. For the purpose of determining an Unpaid Amount in respect of the relevant Transaction, and to the extent permitted by applicable law, interest will accrue on the amount of any payment obligation or the amount equal to the
fair market value of any obligation required to be settled by delivery included in such determination in the same currency as that amount, for the period from (and including) the date the relevant obligation was (or would have been but for
Section 2(a)(iii) or 5(d)) required to have been performed to (but excluding) the relevant Early Termination Date, at the Applicable Close-out Rate. 
 (2) Interest on Early Termination Amounts. If an Early Termination Amount is due in respect of such Early Termination Date, that amount will, to the extent permitted by applicable law, be paid
together with interest (before as well as after judgment) on that amount in the Termination Currency, for the period from (and including) such Early Termination Date to (but excluding) the date the amount is paid, at the Applicable Close-out Rate.

 (iii) Interest Calculation. Any interest pursuant to this Section 9(h) will be calculated on the basis of
daily compounding and the actual number of days elapsed. 

  

					
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	10.	Offices; Multibranch Parties 

 (a) If
Section 10(a) is specified in the Schedule as applying, each party that enters into a Transaction through an Office other than its head or home office represents to and agrees with the other party that, notwithstanding the place of booking or
its jurisdiction of incorporation or organisation, its obligations are the same in terms of recourse against it as if it had entered into the Transaction through its head or home office, except that a party will not have recourse to the head or home
office of the other party in respect of any payment or delivery deferred pursuant to Section 5(d) for so long as the payment or delivery is so deferred. This representation and agreement will be deemed to be repeated by each party on each date
on which the parties enter into a Transaction. 
 (b) If a party is specified as a Multibranch Party in the Schedule, such party may, subject to
clause (c) below, enter into a Transaction through, book a Transaction in and make and receive payments and deliveries with respect to a Transaction through any Office listed in respect of that party in the Schedule (but not any other Office
unless otherwise agreed by the parties in writing). 
 (c) The Office through which a party enters into a Transaction will be the Office
specified for that party in the relevant Confirmation or as otherwise agreed by the parties in writing, and, if an Office for that party is not specified in the Confirmation or otherwise agreed by the parties in writing, its head or home office.
Unless the parties otherwise agree in writing, the Office through which a party enters into a Transaction will also be the Office in which it books the Transaction and the Office through which it makes and receives payments and deliveries with
respect to the Transaction. Subject to Section 6(b)(ii), neither party may change the Office in which it books the Transaction or the Office through which it makes and receives payments or deliveries with respect to a Transaction without the
prior written consent of the other party. 
  

	11.	Expenses 

 A Defaulting Party will on
demand indemnify and hold harmless the other party for and against all reasonable out-of-pocket expenses, including legal fees, execution fees and Stamp Tax, incurred by such other party by reason of the enforcement and protection of its rights
under this Agreement or any Credit Support Document to which the Defaulting Party is a party or by reason of the early termination of any Transaction, including, but not limited to, costs of collection. 

 

	12.	Notices 

 (a) Effectiveness.
Any notice or other communication in respect of this Agreement may be given in any manner described below (except that a notice or other communication under Section 5 or 6 may not be given by electronic messaging system or e-mail) to
the address or number or in accordance with the electronic messaging system or e-mail details provided (see the Schedule) and will be deemed effective as indicated:— 
 (i) if in writing and delivered in person or by courier, on the date it is delivered; 
 (ii) if sent by telex, on the date the recipient’s answerback is received; 

(iii) if sent by facsimile transmission, on the date it is received by a responsible employee of the recipient in legible form (it being
agreed that the burden of proving receipt will be on the sender and will not be met by a transmission report generated by the sender’s facsimile machine); 
 (iv) if sent by certified or registered mail (airmail, if overseas) or the equivalent (return receipt requested), on the date it is delivered or its delivery is attempted; 

(v) if sent by electronic messaging system, on the date it is received; or 

(vi) if sent by e-mail, on the date it is delivered, 

  

					
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 unless the date of that delivery (or attempted delivery) or that receipt, as applicable, is not a Local
Business Day or that communication is delivered (or attempted) or received, as applicable, after the close of business on a Local Business Day, in which case that communication will be deemed given and effective on the first following day that is a
Local Business Day. 
 (b) Change of Details. Either party may by notice to the other change the address, telex or facsimile
number or electronic messaging system or e-mail details at which notices or other communications are to be given to it. 
  

	13.	Governing Law and Jurisdiction 

 (a)
Governing Law. This Agreement will be governed by and construed in accordance with the law specified in the Schedule. 
 (b)
Jurisdiction. With respect to any suit, action or proceedings relating to any dispute arising out of or in connection with this Agreement (“Proceedings”), each party irrevocably:— 

(i) submits:— 
 (1) if this Agreement is expressed to be governed by English law, to (A) the non-exclusive jurisdiction of the English courts if the Proceedings do not involve a Convention Court and (B) the
exclusive jurisdiction of the English courts if the Proceedings do involve a Convention Court; or 
 (2) if this Agreement is
expressed to be governed by the laws of the State of New York, to the non-exclusive jurisdiction of the courts of the State of New York and the United States District Court located in the Borough of Manhattan in New York City; 

(ii) waives any objection which it may have at any time to the laying of venue of any Proceedings brought in any such court, waives any
claim that such Proceedings have been brought in an inconvenient forum and further waives the right to object, with respect to such Proceedings, that such court does not have any jurisdiction over such party; and 

(iii) agrees, to the extent permitted by applicable law, that the bringing of Proceedings in any one or more jurisdictions will not
preclude the bringing of Proceedings in any other jurisdiction. 
 (c) Service of Process. Each party irrevocably appoints the
Process Agent, if any, specified opposite its name in the Schedule to receive, for it and on its behalf, service of process in any Proceedings. If for any reason any party’s Process Agent is unable to act as such, such party will promptly
notify the other party and within 30 days appoint a substitute process agent acceptable to the other party. The parties irrevocably consent to service of process given in the manner provided for notices in Section 12(a)(i), 12(a)(iii) or
12(a)(iv). Nothing in this Agreement will affect the right of either party to serve process in any other manner permitted by applicable law. 

(d) Waiver of Immunities. Each party irrevocably waives, to the extent permitted by applicable law, with respect to itself and its revenues
and assets (irrespective of their use or intended use), all immunity on the grounds of sovereignty or other similar grounds from (i) suit, (ii) jurisdiction of any court, (iii) relief by way of injunction or order for specific
performance or recovery of property, (iv) attachment of its assets (whether before or after judgment) and (v) execution or enforcement of any judgment to which it or its revenues or assets might otherwise be entitled in any Proceedings in
the courts of any jurisdiction and irrevocably agrees, to the extent permitted by applicable law, that it will not claim any such immunity in any Proceedings. 

  

					
		  	20	  	ISDA®
2002

	14.	Definitions 

 As used in this
Agreement:— 
 “Additional Representation” has the meaning specified in Section 3.  

“Additional Termination Event” has the meaning specified in Section 5(b).  

“Affected Party” has the meaning specified in Section 5(b). 

“Affected Transactions” means (a) with respect to any Termination Event consisting of an Illegality, Force
Majeure Event, Tax Event or Tax Event Upon Merger, all Transactions affected by the occurrence of such Termination Event (which, in the case of an Illegality under Section 5(b)(i)(2) or a Force Majeure Event under Section 5(b)(ii)(2),
means all Transactions unless the relevant Credit Support Document references only certain Transactions, in which case those Transactions and, if the relevant Credit Support Document constitutes a Confirmation for a Transaction, that Transaction)
and (b) with respect to any other Termination Event, all Transactions. 
 “Affiliate” means, subject to the
Schedule, in relation to any person, any entity controlled, directly or indirectly, by the person, any entity that controls, directly or indirectly, the person or any entity directly or indirectly under common control with the person. For this
purpose, “control” of any entity or person means ownership of a majority of the voting power of the entity or person. 

“Agreement” has the meaning specified in Section 1(c).  
 “Applicable Close-out Rate” means:— 
  

	(a)	in respect of the determination of an Unpaid Amount:— 

 (i) in respect of obligations payable or deliverable (or which would have been but for Section 2(a)(iii)) by a Defaulting Party, the Default Rate; 

(ii) in respect of obligations payable or deliverable (or which would have been but for Section 2(a)(iii)) by a Non-defaulting Party,
the Non-default Rate; 
 (iii) in respect of obligations deferred pursuant to Section 5(d), if there is no Defaulting Party
and for so long as the deferral period continues, the Applicable Deferral Rate; and 
 (iv) in all other cases following the
occurrence of a Termination Event (except where interest accrues pursuant to clause (iii) above), the Applicable Deferral Rate; and 
  

	(b)	in respect of an Early Termination Amount:— 

 (i) for the period from (and including) the relevant Early Termination Date to (but excluding) the date (determined in accordance with Section 6(d)(ii)) on which that amount is payable:—

 (1) if the Early Termination Amount is payable by a Defaulting Party, the Default Rate; 

(2) if the Early Termination Amount is payable by a Non-defaulting Party, the Non-default Rate; and 

(3) in all other cases, the Applicable Deferral Rate; and 

  

					
		  	21	  	ISDA®
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 (ii) for the period from (and including) the date (determined in accordance with
Section 6(d)(ii)) on which that amount is payable to (but excluding) the date of actual payment:— 
 (1) if a party
fails to pay the Early Termination Amount due to the occurrence of an event or circumstance which would, if it occurred with respect to a payment or delivery under a Transaction, constitute or give rise to an Illegality or a Force Majeure Event, and
for so long as the Early Termination Amount remains unpaid due to the continuing existence of such event or circumstance, the Applicable Deferral Rate; 
 (2) if the Early Termination Amount is payable by a Defaulting Party (but excluding any period in respect of which clause (1) above applies), the Default Rate; 

(3) if the Early Termination Amount is payable by a Non-defaulting Party (but excluding any period in respect of which clause
(1) above applies), the Non-default Rate; and 
 (4) in all other cases, the Termination Rate.  

“Applicable Deferral Rate” means:— 
 (a) for the purpose of Section 9(h)(i)(3)(A), the rate certified by the relevant payer to be a rate offered to the payer by a major bank in a relevant interbank market for overnight deposits in the
applicable currency, such bank to be selected in good faith by the payer for the purpose of obtaining a representative rate that will reasonably reflect conditions prevailing at the time in that relevant market; 

(b) for purposes of Section 9(h)(i)(3)(B) and clause (a)(iii) of the definition of Applicable Close-out Rate, the rate certified by the relevant
payer to be a rate offered to prime banks by a major bank in a relevant interbank market for overnight deposits in the applicable currency, such bank to be selected in good faith by the payer after consultation with the other party, if practicable,
for the purpose of obtaining a representative rate that will reasonably reflect conditions prevailing at the time in that relevant market; and 

(c) for purposes of Section 9(h)(i)(3)(C) and clauses (a)(iv), (b)(i)(3) and (b)(ii)(1) of the definition of Applicable Close-out Rate, a rate equal
to the arithmetic mean of the rate determined pursuant to clause (a) above and a rate per annum equal to the cost (without proof or evidence of any actual cost) to the relevant payee (as certified by it) if it were to fund or of funding the
relevant amount. 
 “Automatic Early Termination” has the meaning specified in Section 6(a). 

 “Burdened Party” has the meaning specified in Section 5(b)(iv). 

“Change in Tax Law” means the enactment, promulgation, execution or ratification of, or any change in or amendment to, any law
(or in the application or official interpretation of any law) that occurs after the parties enter into the relevant Transaction. 

“Close-out Amount” means, with respect to each Terminated Transaction or each group of Terminated Transactions and a Determining
Party, the amount of the losses or costs of the Determining Party that are or would be incurred under then prevailing circumstances (expressed as a positive number) or gains of the Determining Party that are or would be realised under then
prevailing circumstances (expressed as a negative number) in replacing, or in providing for the Determining Party the economic equivalent of, (a) the material terms of that Terminated Transaction or group of Terminated Transactions, including
the payments and deliveries by the parties under Section 2(a)(i) in respect of that Terminated Transaction or group of Terminated Transactions that would, but for the occurrence of the relevant Early Termination Date, have been required after
that date (assuming satisfaction of the conditions precedent in Section 2(a)(iii)) and (b) the option rights of the parties in respect of that Terminated Transaction or group of Terminated Transactions. 

  

					
		  	22	  	ISDA®
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 Any Close-out Amount will be determined by the Determining Party (or its agent), which will act in good
faith and use commercially reasonable procedures in order to produce a commercially reasonable result. The Determining Party may determine a Close-out Amount for any group of Terminated Transactions or any individual Terminated Transaction but, in
the aggregate, for not less than all Terminated Transactions. Each Close-out Amount will be determined as of the Early Termination Date or, if that would not be commercially reasonable, as of the date or dates following the Early Termination Date as
would be commercially reasonable. 
 Unpaid Amounts in respect of a Terminated Transaction or group of Terminated Transactions and legal fees
and out-of-pocket expenses referred to in Section 11 are to be excluded in all determinations of Close-out Amounts. 
 In determining a
Close-out Amount, the Determining Party may consider any relevant information, including, without limitation, one or more of the following types of information:— 
 (i) quotations (either firm or indicative) for replacement transactions supplied by one or more third parties that may take into account the creditworthiness of the Determining Party at the time the
quotation is provided and the terms of any relevant documentation, including credit support documentation, between the Determining Party and the third party providing the quotation; 
 (ii) information consisting of relevant market data in the relevant market supplied by one or more third parties including, without limitation, relevant rates, prices, yields, yield curves, volatilities,
spreads, correlations or other relevant market data in the relevant market; or 
 (iii) information of the types described in clause (i) or
(ii) above from internal sources (including any of the Determining Party’s Affiliates) if that information is of the same type used by the Determining Party in the regular course of its business for the valuation of similar transactions.

 The Determining Party will consider, taking into account the standards and procedures described in this definition, quotations pursuant to
clause (i) above or relevant market data pursuant to clause (ii) above unless the Determining Party reasonably believes in good faith that such quotations or relevant market data are not readily available or would produce a result that
would not satisfy those standards. When considering information described in clause (i), (ii) or (iii) above, the Determining Party may include costs of funding, to the extent costs of funding are not and would not be a component of the
other information being utilised. Third parties supplying quotations pursuant to clause (i) above or market data pursuant to clause (ii) above may include, without limitation, dealers in the relevant markets, end-users of the relevant
product, information vendors, brokers and other sources of market information. 
 Without duplication of amounts calculated based on information
described in clause (i), (ii) or (iii) above, or other relevant information, and when it is commercially reasonable to do so, the Determining Party may in addition consider in calculating a Close-out Amount any loss or cost incurred in
connection with its terminating, liquidating or re-establishing any hedge related to a Terminated Transaction or group of Terminated Transactions (or any gain resulting from any of them). 
 Commercially reasonable procedures used in determining a Close-out Amount may include the following:— 
 (1) application to relevant market data from third parties pursuant to clause (ii) above or information from internal sources pursuant to clause (iii) above of pricing or other valuation models
that are, at the time of the determination of the Close-out Amount, used by the Determining Party in the regular course of its business in pricing or valuing transactions between the Determining Party and unrelated third parties that are similar to
the Terminated Transaction or group of Terminated Transactions; and 

  

					
		  	23	  	ISDA®
2002

 (2) application of different valuation methods to Terminated Transactions or groups of Terminated
Transactions depending on the type, complexity, size or number of the Terminated Transactions or group of Terminated Transactions. 

“Confirmation” has the meaning specified in the preamble. 
 “consent” includes a consent, approval, action, authorisation, exemption, notice, filing, registration or exchange control consent. 

“Contractual Currency” has the meaning specified in Section 8(a). 
 “Convention Court” means any court which is bound to apply to the Proceedings either Article 17 of the 1968 Brussels Convention on Jurisdiction and the Enforcement of Judgments in
Civil and Commercial Matters or Article 17 of the 1988 Lugano Convention on Jurisdiction and the Enforcement of Judgments in Civil and Commercial Matters. 
 “Credit Event Upon Merger” has the meaning specified in Section 5(b). 

“Credit Support Document” means any agreement or instrument that is specified as such in this Agreement.

 “Credit Support Provider” has the meaning specified in the Schedule. 

“Cross-Default” means the event specified in Section 5(a)(vi). 
 “Default Rate” means a rate per annum equal to the cost (without proof or evidence of any actual cost) to the relevant payee (as certified by it) if it were to fund or of funding
the relevant amount plus 1% per annum. 
 “Defaulting Party” has the meaning specified in Section 6(a).

 “Designated Event” has the meaning specified in Section 5(b)(v). 

“Determining Party” means the party determining a Close-out Amount. 

“Early Termination Amount” has the meaning specified in Section 6(e). 

“Early Termination Date” means the date determined in accordance with Section 6(a) or 6(b)(iv). 

“electronic messages” does not include e-mails but does include documents expressed in markup languages, and
“electronic messaging system” will be construed accordingly. 
 “English law”
means the law of England and Wales, and “English” will be construed accordingly.  

“Event of Default” has the meaning specified in Section 5(a) and, if applicable, in the Schedule.  

“Force Majeure Event” has the meaning specified in Section 5(b). 
 “General Business Day” means a day on which commercial banks are open for general business (including dealings in foreign exchange and foreign currency deposits). 

“Illegality” has the meaning specified in Section 5(b). 

  

					
		  	24	  	ISDA®
2002

 “Indemnifiable Tax” means any Tax other than a Tax that would not be imposed in
respect of a payment under this Agreement but for a present or former connection between the jurisdiction of the government or taxation authority imposing such Tax and the recipient of such payment or a person related to such recipient (including,
without limitation, a connection arising from such recipient or related person being or having been a citizen or resident of such jurisdiction, or being or having been organised, present or engaged in a trade or business in such jurisdiction, or
having or having had a permanent establishment or fixed place of business in such jurisdiction, but excluding a connection arising solely from such recipient or related person having executed, delivered, performed its obligations or received a
payment under, or enforced, this Agreement or a Credit Support Document). 
 “law” includes any treaty, law, rule or
regulation (as modified, in the case of tax matters, by the practice of any relevant governmental revenue authority), and “unlawful” will be construed accordingly. 
 “Local Business Day” means (a) in relation to any obligation under Section 2(a)(i), a General Business Day in the place or places specified in the relevant Confirmation
and a day on which a relevant settlement system is open or operating as specified in the relevant Confirmation or, if a place or a settlement system is not so specified, as otherwise agreed by the parties in writing or determined pursuant to
provisions contained, or incorporated by reference, in this Agreement, (b) for the purpose of determining when a Waiting Period expires, a General Business Day in the place where the event or circumstance that constitutes or gives rise to the
Illegality or Force Majeure Event, as the case may be, occurs, (c) in relation to any other payment, a General Business Day in the place where the relevant account is located and, if different, in the principal financial centre, if any, of the
currency of such payment and, if that currency does not have a single recognised principal financial centre, a day on which the settlement system necessary to accomplish such payment is open, (d) in relation to any notice or other
communication, including notice contemplated under Section 5(a)(i), a General Business Day (or a day that would have been a General Business Day but for the occurrence of an event or circumstance which would, if it occurred with respect to
payment, delivery or compliance related to a Transaction, constitute or give rise to an Illegality or a Force Majeure Event) in the place specified in the address for notice provided by the recipient and, in the case of a notice contemplated by
Section 2(b), in the place where the relevant new account is to be located and (e) in relation to Section 5(a)(v)(2), a General Business Day in the relevant locations for performance with respect to such Specified Transaction.

 “Local Delivery Day” means, for purposes of Sections 5(a)(i) and 5(d), a day on which settlement systems necessary to
accomplish the relevant delivery are generally open for business so that the delivery is capable of being accomplished in accordance with customary market practice, in the place specified in the relevant Confirmation or, if not so specified, in a
location as determined in accordance with customary market practice for the relevant delivery. 
 “Master Agreement” has
the meaning specified in the preamble.  
 “Merger Without Assumption” means the event specified in
Section 5(a)(viii).  
 “Multiple Transaction Payment Netting” has the meaning specified in
Section 2(c).  
 “Non-affected Party” means, so long as there is only one Affected Party, the other
party. 
 “Non-default Rate” means the rate certified by the Non-defaulting Party to be a rate offered to the
Non-defaulting Party by a major bank in a relevant interbank market for overnight deposits in the applicable currency, such bank to be selected in good faith by the Non-defaulting Party for the purpose of obtaining a representative rate that will
reasonably reflect conditions prevailing at the time in that relevant market. 
 “Non-defaulting Party” has
the meaning specified in Section 6(a). 
 “Office” means a branch or office of a party, which may be such
party’s head or home office. 
 “Other Amounts” has the meaning specified in Section 6(f). 

  

					
		  	25	  	ISDA®
2002

 “Payee” has the meaning specified in Section 6(f). 

“Payer” has the meaning specified in Section 6(f). 
 “Potential Event of Default” means any event which, with the giving of notice or the lapse of time or both, would constitute an Event of Default. 

“Proceedings” has the meaning specified in Section 13(b). 

 “Process Agent” has the meaning specified in the Schedule. 

“rate of exchange” includes, without limitation, any premiums and costs of exchange payable in connection with the purchase of or
conversion into the Contractual Currency. 
 “Relevant Jurisdiction” means, with respect to a party, the jurisdictions
(a) in which the party is incorporated, organised, managed and controlled or considered to have its seat, (b) where an Office through which the party is acting for purposes of this Agreement is located, (c) in which the party executes
this Agreement and (d) in relation to any payment, from or through which such payment is made. 
 “Schedule” has
the meaning specified in the preamble. 
 “Scheduled Settlement Date” means a date on which a payment or delivery is to
be made under Section 2(a)(i) with respect to a Transaction. 
 “Specified Entity” has the meaning specified in the
Schedule. 
 “Specified Indebtedness” means, subject to the Schedule, any obligation (whether present or future,
contingent or otherwise, as principal or surety or otherwise) in respect of borrowed money. 
 “Specified Transaction”
means, subject to the Schedule, (a) any transaction (including an agreement with respect to any such transaction) now existing or hereafter entered into between one party to this Agreement (or any Credit Support Provider of such party
or any applicable Specified Entity of such party) and the other party to this Agreement (or any Credit Support Provider of such other party or any applicable Specified Entity of such other party) which is not a Transaction under this Agreement but
(i) which is a rate swap transaction, swap option, basis swap, forward rate transaction, commodity swap, commodity option, equity or equity index swap, equity or equity index option, bond option, interest rate option, foreign exchange
transaction, cap transaction, floor transaction, collar transaction, currency swap transaction, cross-currency rate swap transaction, currency option, credit protection transaction, credit swap, credit default swap, credit default option, total
return swap, credit spread transaction, repurchase transaction, reverse repurchase transaction, buy/sell-back transaction, securities lending transaction, weather index transaction or forward purchase or sale of a security, commodity or other
financial instrument or interest (including any option with respect to any of these transactions) or (ii) which is a type of transaction that is similar to any transaction referred to in clause (i) above that is currently, or in the future
becomes, recurrently entered into in the financial markets (including terms and conditions incorporated by reference in such agreement) and which is a forward, swap, future, option or other derivative on one or more rates, currencies, commodities,
equity securities or other equity instruments, debt securities or other debt instruments, economic indices or measures of economic risk or value, or other benchmarks against which payments or deliveries are to be made, (b) any combination of
these transactions and (c) any other transaction identified as a Specified Transaction in this Agreement or the relevant confirmation. 

“Stamp Tax” means any stamp, registration, documentation or similar tax. 

“Stamp Tax Jurisdiction” has the meaning specified in Section 4(e). 

  

					
		  	26	  	ISDA®
2002

 “Tax” means any present or future tax, levy, impost, duty, charge, assessment or fee
of any nature (including interest, penalties and additions thereto) that is imposed by any government or other taxing authority in respect of any payment under this Agreement other than a stamp, registration, documentation or similar tax.

 “Tax Event” has the meaning specified in Section 5(b). 
 “Tax Event Upon Merger” has the meaning specified in Section 5(b). 

“Terminated Transactions” means, with respect to any Early Termination Date, (a) if resulting from an Illegality or a Force
Majeure Event, all Affected Transactions specified in the notice given pursuant to Section 6(b)(iv), (b) if resulting from any other Termination Event, all Affected Transactions and (c) if resulting from an Event of Default, all
Transactions in effect either immediately before the effectiveness of the notice designating that Early Termination Date or, if Automatic Early Termination applies, immediately before that Early Termination Date. 

“Termination Currency” means (a) if a Termination Currency is specified in the Schedule and that currency is freely
available, that currency, and (b) otherwise, euro if this Agreement is expressed to be governed by English law or United States Dollars if this Agreement is expressed to be governed by the laws of the State of New York. 

“Termination Currency Equivalent” means, in respect of any amount denominated in the Termination Currency, such Termination
Currency amount and, in respect of any amount denominated in a currency other than the Termination Currency (the "Other Currency"), the amount in the Termination Currency determined by the party making the relevant determination as being required to
purchase such amount of such Other Currency as at the relevant Early Termination Date, or, if the relevant Close-out Amount is determined as of a later date, that later date, with the Termination Currency at the rate equal to the spot exchange rate
of the foreign exchange agent (selected as provided below) for the purchase of such Other Currency with the Termination Currency at or about 11:00 a.m. (in the city in which such foreign exchange agent is located) on such date as would be customary
for the determination of such a rate for the purchase of such Other Currency for value on the relevant Early Termination Date or that later date. The foreign exchange agent will, if only one party is obliged to make a determination under
Section 6(e), be selected in good faith by that party and otherwise will be agreed by the parties. 
 “Termination Event”
means an Illegality, a Force Majeure Event, a Tax Event, a Tax Event Upon Merger or, if specified to be applicable, a Credit Event Upon Merger or an Additional Termination Event. 
 “Termination Rate” means a rate per annum equal to the arithmetic mean of the cost (without proof or evidence of any actual cost) to each party (as certified by such party) if it
were to fund or of funding such amounts. 
 “Threshold Amount” means the amount, if any, specified as such in the
Schedule.  
 “Transaction” has the meaning specified in the
preamble. 
 “Unpaid Amounts” owing to any party means, with respect to an Early Termination Date, the aggregate of
(a) in respect of all Terminated Transactions, the amounts that became payable (or that would have become payable but for Section 2(a)(iii) or due but for Section 5(d)) to such party under Section 2(a)(i) or 2(d)(i)(4) on or
prior to such Early Termination Date and which remain unpaid as at such Early Termination Date, (b) in respect of each Terminated Transaction, for each obligation under Section 2(a)(i) which was (or would have been but for
Section 2(a)(iii) or 5(d)) required to be settled by delivery to such party on or prior to such Early Termination Date and which has not been so settled as at such Early Termination Date, an amount equal to the fair market value of that which
was (or would have been) required to be delivered and (c) if the Early Termination Date results from an Event of Default, a Credit Event Upon Merger or an Additional Termination Event in respect of which all outstanding Transactions are
Affected Transactions, any Early Termination Amount due prior to such Early Termination Date and which remains unpaid as of such Early Termination Date, in each case together with any amount of interest accrued or other

  

					
		  	27	  	ISDA®
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compensation in respect of that obligation or deferred obligation, as the case may be, pursuant to Section 9(h)(ii)(1) or (2), as appropriate. The fair market value of any obligation
referred to in clause (b) above will be determined as of the originally scheduled date for delivery, in good faith and using commercially reasonable procedures, by the party obliged to make the determination under Section 6(e) or, if each
party is so obliged, it will be the average of the Termination Currency Equivalents of the fair market values so determined by both parties. 

“Waiting Period” means:— 
 (a) in respect of an event or circumstance under Section 5(b)(i), other than in the case of Section 5(b)(i)(2) where the relevant payment, delivery or compliance is actually required on the
relevant day (in which case no Waiting Period will apply), a period of three Local Business Days (or days that would have been Local Business Days but for the occurrence of that event or circumstance) following the occurrence of that event or
circumstance; and 
 (b) in respect of an event or circumstance under Section 5(b)(ii), other than in the case of Section 5(b)(ii)(2)
where the relevant payment, delivery or compliance is actually required on the relevant day (in which case no Waiting Period will apply), a period of eight Local Business Days (or days that would have been Local Business Days but for the occurrence
of that event or circumstance) following the occurrence of that event or circumstance. 
 IN WITNESS WHEREOF the parties have executed this
document on the respective dates specified below with effect from the date specified on the first page of this document. 
  

									
	 Coöperatieve Centrale Raiffeisen-
 Boerenleenbank B.A.,
 “Rabobank International”

 
	 		 	NPC International, Inc.
	  
	 		 	  

	(Name of Party)	 		 	(Name of Party)
					
	By: 	 	 	 		 	By: 	 	 
		 	Name:	 		 		 	Name:
		 	Title:	 		 		 	Title:
		 	Date:	 		 		 	Date:
					
	By: 	 	 	 		 		 	
		 	Name:	 		 		 	
		 	Title:	 		 		 	
		 	Date:	 		 		 	

  

					
		  	28	  	ISDA®
2002

 Execution Copy 

ISDA® 
 International Swaps and Derivatives
Association, Inc. 
 SCHEDULE 
 to the 
 2002 Master Agreement 

dated as of February 23, 2012, 
 between 
 Coöperatieve Centrale Raiffeisen-Boerenleenbank B.A.,

 “Rabobank International” 
 (“Party A”) 
 and 

NPC International, Inc. 
 (a corporation organized under the laws of the State of Kansas) 

(“Party B”) 

Part 1. Termination Provisions. 
  

	(a)	“Specified Entity” means in relation to Party A for the purpose of:— 

Section 5(a)(v), Not Applicable 

Section 5(a)(vi), Not Applicable 

Section 5(a)(vii), Not Applicable 

Section 5(b)(v), Not Applicable 

and in relation to Party B for the purpose of:— 

Section 5(a)(v), All Affiliates 

Section 5(a)(vi), Any Company (as defined in the Credit Agreement) 

Section 5(a)(vii), Any Borrower (as defined in the Credit Agreement) 

Section 5(b)(v), All Affiliates 
 In connection therewith, “Credit Agreement” means the Credit Agreement dated as of December 28, 2011, by and among NPC International, Inc., as parent borrower, NPC Operating
Company A, Inc. and NPC Operating Company B, Inc., as subsidiary borrowers, NPC Acquisition Holdings, LLC and the other guarantors party thereto, Barclays Bank PLC, as administrative agent, collateral agent and issuing bank and the lenders signatory
thereto (as amended from time to time). 

  
 29 

	(b)	“Specified Transaction” will have the meaning specified in Section 14 of this Agreement. 

 

	(c)	The “Failure to Pay or Deliver” provisions of Section 5(a)(i) are hereby amended by inserting at the end of Section 5(a)(i):
“provided, however, that notwithstanding the foregoing, an Event of Default shall not occur if the failure to pay or deliver is caused by an error or omission of an administrative or operational nature and funds were available to such party to
enable it to make the relevant payment or delivery when due and provided that such error or omission is remedied within three Local Business Days and/or three Local Delivery Days after notice of such failure being received;”.

  

	(d)	The “Cross-Default” provisions of Section 5(a)(vi) will apply to Party A and will apply to Party B except that such provisions are amended
by deleting in the seventh line thereof “, or becoming capable at such time of being declared”. 

“Specified Indebtedness” means with respect to Party A and Party B, any obligation (whether present or future,
contingent or otherwise as principal or surety or otherwise) for the payment or repayment of any borrowed money. 

“Threshold Amount” means, (i) in relation to Party A for the purposes of Section 5(a)(vi), 3% of group
equity as determined by reference to the latest audited consolidated annual report and (ii) in relation to Party B for the purposes of Section 5(a)(vi), USD 15,000,000 (or the equivalent in any other currency). 

 

	(e)	The “Credit Event Upon Merger” provisions of Section 5(b)(v) will apply to Party A and will apply to Party B. 

 

	(f)	The “Automatic Early Termination” provision of Section 6(a) will apply to Party A and will not apply to Party B. 

 

	(g)	“Termination Currency” means United States Dollars, except if another currency is selected by the Non-Defaulting Party or the
Non-Affected Party, as the case may be, or, in circumstances where there are two Affected Parties, such currency as may be mutually agreed. The Termination Currency shall, if any of the above currencies is not available or a mutual agreement by the
Parties cannot be reached, be United States Dollars. 

  

	(h)	“Additional Termination Event” The following shall constitute an Additional Termination Event with respect to Party B as the sole
Affected Party: 

 In the event the obligations created under the Credit Agreement (excluding the obligations of
Party B under this Agreement) are repaid in full, the Credit Agreement is terminated or cancelled, or Party A (or any member bank or Affiliate of Party A) as lender shall cease to remain a party thereto. Notwithstanding the foregoing, it shall not
be an Additional Termination Event if the obligations under the Credit Agreement are repaid in full (a “Refinancing”) through a refinancing facility or a replacement facility, to which refinancing or replacement facility Party A (or any
member bank or Affiliate of Party A) is a lender and Party B’s obligations under this Agreement are secured, guaranteed and otherwise backed by the same collateral (such collateral having at least equivalent value to the collateral of the
existing Credit Agreement in Party A’s opinion) or persons securing, guaranteeing and backing such refinancing or replacement facility on at least a pari-passu basis with the lenders of such refinancing or replacement facility. 

  
 30 

 “Credit Agreement” means the Credit Agreement, dated as of December 28, 2011,
among NPC International, Inc., parent borrower, NPC Operating Company A, Inc. and NPC Operating Company B, Inc., each a subsidiary borrower, NPC Acquisition Holdings, LLC, the other Guarantors party thereto, and Barclays Bank Plc, as administrative
agent and collateral agent for the secured parties, as amended from time to time. 
 Part 2. Tax Representations 

Definitions 
 For the purpose of this Part
2 of the Schedule: 
  

	1.	“Specified Jurisdiction of Party A” means (a) the country in which is located the office identified in the applicable Confirmation as the office through
which Party A is acting for the purpose of the transaction or (b) if no office is expressly identified in the applicable Confirmation, the country in which is located the office from which the applicable Confirmation originated.

  

	2.	“Specified Jurisdiction of Party B” means (a) the country in which is located the office identified in the applicable Confirmation as the office through
which Party B is acting for the purpose of the transaction or (b) if no office is expressly identified in the applicable Confirmation, the country in which is located the office from which the applicable Confirmation originated.

 Payer Representations 
 For the purpose of Section 3(e) of this Agreement, Party A and Party B each makes the following representation: 
 It is not required by any applicable law, as modified by the practice of any relevant governmental revenue authority, of any Relevant Jurisdiction to make any deduction or withholding for or on account of
any Tax from any payment (other than interest under Section 9(h) of this Agreement) to be made by it to the other party under this Agreement. In making this representation, it may rely on (i) the accuracy of any representations made by the
other party pursuant to Section 3(f) of this Agreement, (ii) the satisfaction of the agreement contained in Section 4(a)(i) or 4(a)(iii) of this Agreement and the accuracy and effectiveness of any document provided by the other party
pursuant to Section 4(a)(i) or 4(a)(iii) of this Agreement and (iii) the satisfaction of the agreement of the other party contained in Section 4(d) of this Agreement, except that it will not be a breach of this representation where
reliance is placed on clause (ii) above and the other party does not deliver a form or document under Section 4(a)(iii) by reason of material prejudice to its legal or commercial position. 

  
 31 

 Payee Representation of Party A 
 For the purpose of Section 3(f) of this Agreement: 
  

	(a) (1)	It is a “foreign person” (as that term is used in section 1.6041-4(a)(4) of United States Treasury Regulations) for United States federal income tax purposes.

  

	(2)	With respect to payments made to an address outside the United States (except those payments with respect to Transactions described in (3) below), or made by a
transfer of funds to an account outside the United States, it is a “non-U.S. branch of a foreign person” (as that term is used in section 1.1441-4(a)(3)(ii) of United States Treasury Regulations) for United States federal income tax
purposes. 

  

	(3)	With respect to each Transaction it enters into through an office or discretionary agent in the United States, each payment received or to be received by it under such
Transaction will be effectively connected with its conduct of a trade or business in the United States. 

  

	(b)	The following representation applies except for Transactions in respect of which (i) the Specified Jurisdiction of Party A is the same as the
Specified Jurisdiction of Party B, or (ii) there is no Specified Treaty. 

 Party A is fully eligible for the
benefits of the “Business Profits” or “Industrial and Commercial Profits” provision, as the case may be, the “Interest” provision or the “Other Income” provision, if any, of the Specified Treaty with respect
to any payment described in such provisions and received or to be received by it in connection with this Agreement and no such payment is attributable to a trade or business carried on by it through a permanent establishment in the Specified
Jurisdiction of Party B. 
 If such representation applies, then: 

Specified Treaty means the income tax convention, if any, between The Netherlands and the Specified Jurisdiction of Party B. 

 

	(c)	The following representation applies to Transactions in respect of which the Specified Jurisdiction of Party A is the same as the Specified Jurisdiction of Party B:

 Each payment received or to be received by Party A in connection with this Agreement will be effectively
connected with Party A’s conduct of a trade or business in the Specified Jurisdiction of Party A. 
  

	(d)	Party A agrees that as of the time any payment is made after June 30, 2013, or a later extended date for which the requirement to participate becomes effective by
law, (x) if it is a “foreign financial institution” within the meaning of section 1471(d)(4) (“FFI”) of the United States Internal Revenue Code (the “Code”) and is not excepted from or deemed compliant with
the requirement of section 1471(b), then Party A (i) will enter into an agreement with the United States Internal Revenue Service (“IRS”) to become a participating FFI and meet the requirements of section 1471(b) prior to the date of
payment, and (ii) will not elect the application of section 1471(b)(3) of the Code; and (y) if Party A is a “non-financial foreign entity” within the meaning of section 1472(d) (“Non-FFE”) of the Code, Party A
will meet the requirements of section 1472(b) of the Code, unless one or more of the exceptions of Code section 1472(c) are applicable with respect to such payment. 

  
 32 

 Payee Representation of Party B 
 For the purpose of Section 3(f) of this Agreement: 
  

	(a)	It is a “U.S. person” (as that term is used in section 1.1441-4(a)(3)(ii) of United States Treasury Regulations) for United States federal income tax purposes
and an “Exempt recipient” within the meaning of section 1.6049-4(c)(1)(ii) of United States Treasury Regulations. 

  

	(b)	The following representation applies except for Transactions in respect of which (i) the Specified Jurisdiction of Party A is the same as the
Specified Jurisdiction of Party B, or (ii) there is no Specified Treaty. 

 Party B is fully eligible for the
benefits of the “Business Profits” or “Industrial and Commercial Profits” provision, as the case may be, the “Interest” provision or the “Other Income” provision, if any, of the Specified Treaty with respect
to any payment described in such provisions and received or to be received by it in connection with this Agreement and no such payment is attributable to a trade or business carried on by it through a permanent establishment in the Specified
Jurisdiction of Party A. 
 If such representation applies, then: 

Specified Treaty means the income tax convention, if any, between country of residence of Party B and the Specified Jurisdiction of Party
A. 
  

	(c)	The following representation applies to Transactions in respect of which the Specified Jurisdiction of Party B is the same as the Specified Jurisdiction of Party A:

 Each payment received or to be received by Party B in connection with this Agreement will be effectively
connected with Party B’s conduct of a trade or business in the Specified Jurisdiction of Party B. 

  
 33 

 Part 3. Agreement to Deliver Documents. 
 For the purpose of Sections 4(a)(i) and 4(a)(ii) of this Agreement, each party agrees to deliver the following documents, as applicable:— 

 

	(a)	Tax forms, documents or certificates to be delivered are: - 

  

					
	 Party required to
 deliver document
	 	 Form/Document/

Certificate
	 	 Date by which to be

delivered

			
	 Party A
	 	A correct, complete and duly executed United States Internal Revenue Service Form W-8ECI and a United States Internal Revenue Service Form W-8BEN (or successor applicable form),
in a manner reasonably satisfactory to Party B	 	(i)Upon execution of this Agreement and (ii) promptly upon reasonable demand
			
	 Party B
	 	A correct, complete and duly executed United States Internal Revenue Service Form W-9 when Party B is a U.S. entity (or successor applicable form), in a manner reasonably
satisfactory to Party A	 	(i)Upon execution of this Agreement and (ii) promptly upon reasonable demand

  

	(b)	Other documents to be delivered are: - 

  

							
	 Party required to
 deliver document
	 	 Form/Document/

Certificate
	 	 Date by which to be

delivered
	 	 Covered by Section

3(d) Representation

				
	Party A and Party B	 	(a) Such evidence of the due authorization of the person(s) signing this Agreement and each Confirmation on its behalf as the other party may reasonably request	 	On execution and if requested on the occasion of each transaction	 	Yes

  
 34 

							
	 Party B
	 	(b) A duly certified copy of its Memorandum and Articles of Association evidencing that it has the power to enter into transactions of the nature hereby contemplated	 	On execution	 	Yes
				
	 Party B
	 	(c) A duly certified copy of a resolution of the Board of Directors of Party B approving Party B’s entering into this Agreement and transactions of the nature hereby
contemplated and authorizing a named person or persons to execute this Agreement and each Confirmation on its behalf and to enter into each Transaction on its behalf	 	On execution	 	Yes
				
	 Party B
	 	(d) such other documents as Party A may reasonably request, including without limitation, legal opinions in form and substance satisfactory to Party A, and such other written
information with respect to the business, operations, financial condition or otherwise, of Party B and any Credit Support Provider of Party B	 	Promptly on request	 	Yes

  
 35 

 Part 4. Miscellaneous. 

 

	(a)	Addresses for Notices. For the purpose of Section 12(a) of this Agreement:— 

Address for notices or communications to Party A: Please see attached Annex A 

Address for notices or communications to Party B: 
  

					
		 	Address:	  	7300 West 129th Street, Overland Park, KS 66213
		 	Attention:	  	Troy Cook, CFO EVP Finance, Secretary and Treasurer
		 	Facsimile No.:	  	913 327 5850
		 	Telephone No.:	  	913-327-3109
		 	E-mail:	  	troy.cook@npcinternational.com

  

	(b)	Process Agent. For the purpose of Section 13(c) of this Agreement:— 

Party A appoints as its Process Agent: Rabobank International, New York Branch 

            Attention: Legal Department 

Party B appoints as its Process Agent: Not applicable 
  

	(c)	Offices. The provisions of Section 10(a) will apply to Party B and will apply to Party A. 

 

	(d)	Multibranch Party. For the purpose of Section 10(b) of this Agreement:— 

Party A is a Multibranch Party and may enter into a Transaction through any of the following Offices: London, New York and Utrecht.

 Party B is not a Multibranch Party. 
  

	(e)	Calculation Agent. The Calculation Agent is Party A, unless otherwise specified in a Confirmation in relation to the relevant Transaction or Party A
is the Defaulting Party, in which case Party B shall be the Calculation Agent, until such time that such Event of Default is no longer continuing. 

  

	(f)	Credit Support Document. Details of any Credit Support Document: None with respect to Party A. With respect to Party B the Credit Agreement and
“Security Agreement” (as defined in the Credit Agreement). 

  

	(g)	Credit Support Provider. There is no Credit Support Provider with respect to Party A. With respect to Party B, “Guarantors” (as defined in the
Credit Agreement). 

  

	(h)	Governing Law. This Agreement and any matter arising out of or relating to this Agreement will be governed by and construed in accordance with the
laws of the State of New York (without reference to choice of law doctrine other than Sections 5-1401 and 5-1402 of the New York General Obligations Law). 

  
 36 

	(i)	Netting of Payments. “Multiple Transaction Payment Netting” will not apply for the purpose of Section 2(c) of this Agreement.

  

	(j)	“Affiliate” will have the meaning specified in Section 14 of this Agreement. 

 

	(k)	Absence of Litigation. For the purpose of Section 3(c):— 

 “Specified Entity” means in relation to Party A all Affiliates. 
 “Specified Entity” means in relation to Party B all Affiliates. 
  

	(l)	No Agency. The provisions of Section 3(g) will apply to this Agreement. 

 

	(m)	Additional Representation will apply. For the purpose of Section 3 of this Agreement, the following will constitute Additional Representations:

 Relationship Between Parties. Each party will be deemed to represent to the other party on
the date on which it enters into this Agreement and each Transaction that (absent a written agreement between the parties that expressly imposes affirmative obligations to the contrary for that Transaction):— 

 

	 	(A)	Non-Reliance. It is acting for its own account, and it has made its own independent decisions to enter into that Transaction and as to whether that
Transaction is appropriate or proper for it based upon its own judgment and upon advice from such advisers as it has deemed necessary. It is not relying on any communication (written or oral) of the other party as investment advice or as a
recommendation to enter into that Transaction, it being understood that information and explanations related to the terms and conditions of a Transaction will not be considered investment advice or a recommendation to enter into that Transaction. No
communication (written or oral) received from the other party will be deemed to be an assurance or guarantee as to the expected results of that Transaction. 

 

	 	(B)	Assessment and Understanding. It is capable of assessing the merits of and understanding (on its own behalf or through independent professional
advice), and understands and accepts, the terms, conditions and risks of that Transaction. It is also capable of assuming, and assumes, the risks of that Transaction. 

 

	 	(C)	Status of Parties. The other party is not acting as a fiduciary for or an adviser to it in respect of that Transaction. 

 

	 	(D)	Non-Speculative Purpose. Party B is entering into each Transaction in connection with its line of business and not for purposes of speculation.

  
 37 

	 	(E)	Eligible Contract Participant, Eligible Swap Participant and Transaction Formation. Each of Party A and Party B is an “eligible contract participant”
as defined in the Commodity Exchange Act, as amended (“CEA”), 7 U.S.C. and the material terms of each Transaction will be individually negotiated and tailored by it. Each of Party A and Party B is an “eligible swap participant”
as defined in 17 C.F.R. 35.1. Neither Party A nor Party B has executed, entered into, or traded, and neither party will execute, enter into, or trade, any Transaction on a “trading facility” as such term is defined in the CEA. Each
Transaction hereunder constitutes a “swap agreement” as defined in Section 206A of the Gramm-Leach-Bliley Act. 

  

	(n)	Recording of Conversations. Each party (i) consents to the recording of telephone conversations between the trading, marketing and other
relevant personnel of the parties in connection with this Agreement or any potential Transaction and (ii) agrees, to the extent permitted by applicable law, that recordings may be submitted in evidence in any Proceedings.

  

	(o)	Change of Account. The following wording shall be added at the end of Section 2(b) of this Agreement: “If such new account shall not be
in the same tax jurisdiction as the original account the prior written consent of the other party is required for such change.” 

 Part 5. Other Provisions. 
  

	(a)	Definitions. 

 The
2006 ISDA Definitions as published by the International Swaps and Derivatives Association, Inc, are incorporated by reference herein. In the event of any inconsistency between the provisions of this Agreement and the ISDA Definitions, this Agreement
will prevail. 
  

	(b)	Foreign Exchange and Currency Option Transactions. 

 Reference is made to the 1998 ISDA FX and Currency Option Definitions (the “FX Definitions”) published by ISDA, which are incorporated by reference in this Agreement. Unless agreed otherwise,
any foreign exchange transaction or currency option (an “FX Transaction”) into which the parties may enter or may have entered into prior to the date hereof shall be subject to the terms of this Agreement. Each such FX Transaction shall
constitute a Transaction and any documents exchanged between the parties confirming those transactions shall be a Confirmation for the purposes of this Agreement. 
  

	(c)	Commodity Transactions. 

 The 2005 ISDA Commodity Definitions, as published by the International Swaps and Derivatives Association, Inc. (“Commodity Definitions”) are incorporated by reference in this Agreement. In the
event of any inconsistency between the Commodity Definitions and this Agreement, this Agreement will govern. 
  

	(d)	Additional Agreements. 

  

	 	(1)	Section 4 of this Agreement is hereby amended by adding at the end thereof the following subsection: 

“(f) Consent to Disclosure. Each party agrees and consents to the communication and disclosure of all
information in respect of this Agreement and any Transaction and all matters incidental hereto and thereto by the other party: (i) to the head office and all other 

  
 38 

 
branches and Affiliates of the other party, provided such communication and disclosure is for risk management and administrative purposes; and (ii) as required by any applicable law or
regulation or any court or regulatory or other authority of competent jurisdiction.” 
  

	 	(2)	Section 5(a)(vii) is amended by (i) replacing the reference to 15 days in clause (4) thereof with a reference to 60 days, (ii) adding at the end of
clause (6) thereof “, which appointment is not dismissed, discharged, stayed or restrained, in each case within 60 days thereafter” and (iii) replacing the reference to 15 days in clause (7) thereof with a reference to 60
days. 

  

	(e)	Notices. 

Section 12(a)(vi) will not apply to this Agreement provided that if an Office notifies in writing, that it accepts e-mail
communication, then Section 12(a)(vi) will apply from the time of such notice for Transactions through that Office. 
  

	(f)	Waiver of Jury Trial, Submission to Exclusive Jurisdiction and Waiver of Forum Inconvenience Claim. 

THE PARTIES HERETO HEREBY (I) WAIVE ANY RIGHT TO TRIAL BY JURY WITH RESPECT TO ANY CLAIM, ACTION, SUIT OR PROCEEDING ARISING OUT OF
THIS AGREEMENT OR ANY OF THE MATTERS CONTEMPLATED HEREBY AND (II) ACKNOWLEDGE THAT IT AND THE OTHER PARTY HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY AMONG OTHER THINGS, THE MUTUAL WAIVERS AND AGREEMENTS IN THIS SECTION. The parties
hereto further agree to irrevocably and unconditionally consent to submit to the exclusive jurisdiction of the courts of the State of New York and of the United States of America located in the borough of Manhattan in the city of New York of the
State of New York for any action, suit, or proceeding arising out of or relating to this Agreement and the transactions contemplated by this Agreement (and agree not to commence any action, suit or proceeding relating thereto except in such courts).
The parties hereto further agree to irrevocably and unconditionally waive any objection to the laying of venue of any action, suit, or proceeding arising out of this Agreement in the courts of the State of New York or the United States of America
located in the borough of Manhattan in the city of New York of the State of New York, and hereby further irrevocably and unconditionally waive any objection and agree not to plead or claim in any such court that any such action, suit, or proceeding
brought in any such court has been brought in an inconvenient forum. 
  

	(g)	ERISA. Party B represents it is not, and is not acting on behalf of, and for so long as this Agreement is in force and effect, it covenants it
shall not be, or act on behalf of, (1) an “employee benefit plan” within the meaning of Section 3(3) of ERISA that is subject to Part 4 of Subtitle B of Title I of ERISA (“Title I”), (2) a “plan” within
the meaning of Section 4975(e)(1) of the Tax Code, to which Section 4975 of the Tax Code applies, (3) a “governmental plan” as defined in ERISA or the Tax Code (or an entity that includes the assets of a governmental plan)
that is subject to any federal, state, or local law that is substantively similar, or of similar effect to, Section 406 of ERISA or Section 4975 of the Tax Code, or (4) an entity whose underlying assets include “plan assets”
subject to Title I or Section 4975 of the Tax Code by reason of Section 3(42) of ERISA and, as applicable, 29 CFR § 2510.3-101 or otherwise. 

  
 39 

	(h)	Incorporation of 2002 Master Agreement Protocol Terms. The parties agree that the definitions and provisions contained in the Annexes 1 to
and including 15 of the 2002 Master Agreement Protocol published by the International Swaps and Derivatives Association, Inc. on 15th July, 2003 are incorporated into and apply to this Agreement. References in those definitions and provisions
to any “ISDA Master Agreement” will be deemed to be references to this Agreement. 

  

	(i)	2010 HIRE Act Protocol. The parties agree that the definitions and provisions contained in the Attachment to the 2010 HIRE Act Protocol published
by the International Swaps and Derivatives Association, Inc. on August 23, 2010, are incorporated into and apply to this Agreement as if set forth in full herein. 

 

	(j)	Indemnifiable Tax. “Indemnifiable Tax” shall not include any Tax imposed pursuant to section 1471-1474 of the Code (as enacted) or any
substantially similar amended or successor version thereof and any regulations promulgated thereunder or administrative interpretations thereof. 

  

	(k)	USA PATRIOT Act Notice. Party A hereby notifies Party B 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 Party B, which information includes the name and address of Party B and other information that will
allow Party A to identify Party B in accordance with the Act. 

 [Signature Page Immediately Follows] 

  
 40 

 IN WITNESS WHEREOF the parties have executed this Schedule on the respective dates specified below with
effect from the date specified on the first page of this Agreement. 
  

							
	 Coöperatieve Centrale Raiffeisen-

Boerenleenbank B.A., “Rabobank International”
	 		 	NPC International, Inc.
				
	 By:
	 	  
	 	By:	 	  

		 	Name:	 		 	Name:
		 	Title:	 		 	Title:
		 	Date:	 		 	Date:
		 		 		 	
				
	 By:
	 	  
	 		 	
		 	Name:	 		 	
		 	Title:	 		 	
		 	Date:	 		 	

  
 41 

 ANNEX A 
 Address for notices or communications to Party A:— 
 Acting through its Utrecht Office:

  

			
	Address:	  	Rabobank International
		  	Croeselaan 18, P.O. 17100
		  	3500 HG, Utrecht
		  	The Netherlands
		
	Attention:	  	Swap Desk
	Telephone No:	  	00 31 30 216 6337
	Facsimile No:	  	00 31 30 216 2062

 (with respect to this Agreement and Transactions through that Office.) 

(In case of a notice or other communication under Section 5 or 6, to be effective, it must also be given to attention of the General Counsel at the
same address as for Utrecht Office in accordance with Section 12 of this Agreement, facsimile number + 31 30 216 2062) 
 Acting through
its London Office: 
  

			
	Address:	  	Rabobank International London Branch
		  	Thames Court
		  	One Queenhithe
		  	London
		  	EC4V 3RL
		
	Attention:	  	Swap Settlements
	Telephone No:	  	+44 207 809 3110
	Facsimile No:	  	+44 207 809 3508/3523

 (only with respect to Transactions through that Office) 

(In case of a notice or other communication under Section 5 or 6, to be effective, it must also be given to attention of the General Counsel at the
same address as for London Office in accordance with Section 12 of this Agreement, telephone number +44 207 809 3445, facsimile number +44 207 809 3507) 

  
 42 

 Acting through its New York Office: 

 

			
	Address:	  	Rabobank, New York Branch
		  	245 Park Avenue
		  	New York, NY 10167, USA
		
	Attention:	  	Swap Desk
	Telephone No:	  	00 1 212 916 7800
	Facsimile No:	  	00 1 212 916 7959
	Telex No:	  	6737247
                                    Answerback: RABO
UI

 (only with respect to Transactions through that Office) 
 (In case of a notice or other communication under Section 5 or 6, to be effective, it must also be given to attention of the General Counsel at the same address as for New York Office in accordance
with Section 12 of this Agreement) 

  
 43

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