Document:

EX-10.22.1

 Exhibit 10.22.1 

The Middlefield Banking Company 

Annual Incentive Plan 
 Potential
incentive award for 2015 performance: 
  

													
	 Officer
	 	potential
cash award as a percentage of annual salary based on achievement of 
performance
goals	 
	 	minimum	 	 	midpoint	 	 	maximum	 
	 Tier 1:

[name of officer(s)]
	 	 	10% of salary	  	 	 	20% of salary	  	 	 	30% of salary	  
	 Tier 2:

[name of officer(s)]
	 	 	10% of salary	  	 	 	15% of salary	  	 	 	20% of salary	  
	 Tier 3:

[name of officer(s)]
	 	 	7.5% of salary	  	 	 	10% of salary	  	 	 	12.5% of salary	  

 Award criteria / performance goals: 

For 2015 the performance goals and the weight assigned to each goal are – 

(1) GAAP net income for 2015 of $(confidential) (minimum), $(confidential) (midpoint), or $(confidential) (maximum)
– 60% weight, 
 (2) reduction of the classified asset coverage ratio to (confidential) (minimum), (confidential)
(midpoint), or (confidential) (maximum) – 10% weight. For this purpose classified assets means securities or loans graded substandard, doubtful, or loss, as well as other real estate owned. The classified asset coverage ratio is total
classified assets divided by the sum of Tier 1 capital and the allowance for loan and lease losses. The classified asset coverage ratio shall be determined by the Compensation Committee. The Compensation Committee’s determinations concerning
the classified asset ratio and concerning all other interpretive questions are final and binding, 
 (3) growth in total loans, of
$(confidential) (minimum), $(confidential) (midpoint), or $(confidential) (maximum) – 10% weight, 
 (4)
regulatory status – 20% weight. If this goal is achieved, the executive will be entitled to the maximum award attributable to this goal. If this goal is not achieved, this goal will account for no award. Regulatory status shall be determined by
the Compensation Committee, but it means the existence of or the vulnerability of Middlefield Banc Corp. and The Middlefield Banking Company to – 

	 	•	 	serious regulatory criticism expressed in Matters Requiring Attention1 set forth in reports of examination,

  

	 	•	 	formal or informal regulatory enforcement action,2 

  

	 	•	 	being considered to be in troubled condition, as defined in FDIC rules at 12 C.F.R. 303.101(c),3 

 

	 	•	 	being considered not well managed, as defined in Federal Reserve Board rules at 12 C.F.R. 225.2(s),4 

 

	 	•	 	being subject to the golden parachute payment limitations of FDIC rules at 12 C.F.R. Part 359, 

  

	 	•	 	being requested or encouraged by a bank regulatory agency to withdraw an application or notice on account of the probability of the application or notice being acted upon unfavorably by the bank regulatory agency,

  

	 	•	 	being unable to take advantage of expedited processing at the holding company level because of failure to satisfy the well-capitalized criterion of 12 C.F.R. 225.14(c)(1) or the well-managed criterion of 12 C.F.R.
225.14(c)(2), or 

  

	 	•	 	being unable to take advantage of expedited processing at the bank level because of failure to satisfy the criteria of an eligible depository institution, as defined in 12 C.F.R. 303.2(r).5 

  

	1 	Matter Requiring Attention/Matter Requiring Board Attention (“MRA”) are issued by examiners, typically to a CAMELS 1 or 2 bank, when bank examiners find a deficiency or violation: (a) that has the potential to
become a serious problem if not addressed promptly, (b) that can be remedied with defined action, and (c) where examiners are comfortable that management has the ability and desire to address the problem successfully. Although not enforceable,
failure to successfully address the identified issues can lead to an enforcement action 

	2 	including a consent order, cease-and-desist order, formal written agreement, prompt corrective action order, memorandum of understanding, board resolutions requested by a federal or state bank regulatory agency, or
similar formal or informal regulatory enforcement actions applicable to the institution or holding company 

	3 	an institution (or holding company) is in troubled condition if it has a composite safety and soundness rating of 4 or 5, if it is subject to a formal enforcement action, or if the bank regulatory authority informs the
institution (or holding company) in writing that it is in troubled condition 

	4 	to be considered well managed the composite safety and soundness rating must be at least satisfactory and the management component rating also must be at least satisfactory 

	5 	under 12 C.F.R. 303.2(r) an eligible depository institution is one that has a composite safety and soundness rating of 1 or 2, has a CRA rating of satisfactory or better, has a compliance rating of 1 or 2, is well
capitalized, and is not subject to formal or informal regulatory enforcement 

 Serious regulatory criticism can include having or likely to have an unsatisfactory Bank Secrecy
Act or anti-money laundering rating, or having or likely to have an unsatisfactory rating for information technology. 
 For purposes of the
Annual Incentive Plan, regulatory status is determined not by actual examination ratings issued by applicable bank regulatory authorities, but is instead a judgment by the Compensation Committee of Middlefield Banc Corp.’s and The Middlefield
Banking Company’s ability to obtain prompt regulatory approval of or non-objection to regulatory applications or notice filings and the ability of Middlefield Banc Corp. and The Middlefield Banking Company to take advantage of business
opportunities, including but not limited to merger or other expansion opportunities, without significant regulatory obstacles (other than obstacles having to do with antitrust competitive considerations relating to a particular business
opportunity). For purposes of 2015 award criteria and the 20% weight given to regulatory status, (confidential) is a preexisting condition that the Compensation Committee will not consider in the Compensation Committee’s
determination of regulatory status.6 
 Assessment of performance: 

It is not necessary to achieve minimum performance or better for all goals in order to earn an incentive payment. An incentive payment is
earned as long as performance for at least one of the goals equals or exceeds the minimum level. Each performance goal is evaluated independently of the other performance goals, so an incentive payment can be earned based on achieving minimum or
better performance in one of the goals even if minimum performance is not achieved for the others. If performance for all goals is less than the minimum level, no incentive payment will be considered earned and no incentive payment will be made. If
performance for all goals instead exceeds the maximum, the maximum incentive payment will be considered earned and will be paid. The percentage achievement of the midpoint over the minimum and of the maximum over the midpoint will determine the
proportionate incentive payment earned and paid for each of the goals. The Compensation Committee of The Middlefield Banking Company has sole and absolute discretion to interpret and apply this Annual Incentive Plan statement of goals for 2015. The
Committee’s conclusions are final and binding. Net income, classified assets, Tier 1 capital, loan growth, allowance for loan and lease losses, and other financial measures will be determined by the Committee by reference to the audited,
consolidated year-end financial statements of Middlefield Banc Corp. and, in the Committee’s discretion, the quarterly Call Reports filed by The Middlefield Banking Company. 

 

	6 	The (confidential) 

 The following illustration is intended merely to clarify application of the performance goals and
goal weights. 
  

									
	 	 	 if actual

performance is . . .
	  	 annual incentive payment earned by . .
..

	 	  	 Mr. A [tier 1 executive, salary

$250,000]
	  	 Mr. B [tier 2 executive, salary

$175,000]
	  	 Mr. C [tier 3 executive, salary

$125,000]

	net income – 60% weight	 	  
 at least minimum
	  	  
 $15,000 [10% for achievement of the minimum goal,
multiplied by the 60% weight, multiplied by salary]
	  	  
 $10,500 [10% for achievement of the minimum goal,
multiplied by the 60% weight, multiplied by salary]
	  	  
 $5,625 [7.5% for achievement of the minimum goal,
multiplied by the 60% weight, multiplied by salary]

	 	  
 between minimum and midpoint
	  	  
 in proportion to the percentage achievement of the
midpoint over the minimum
	  	  
 in proportion to the percentage achievement of the
midpoint over the minimum
	  	  
 in proportion to the percentage achievement of the
midpoint over the minimum

	 	  
 midpoint
	  	  
 $30,000 [20% for achievement of the midpoint goal,
multiplied by the 60% weight, multiplied by salary]
	  	  
 $15,750 [15% for achievement of the midpoint goal,
multiplied by the 60% weight, multiplied by salary]
	  	  
 $7,500 [10% for achievement of the midpoint goal,
multiplied by the 60% weight, multiplied by salary]

	 	  
 between midpoint and maximum
	  	  
 in proportion to the percentage achievement of the maximum
over the midpoint
	  	  
 in proportion to the percentage achievement of the maximum
over the midpoint
	  	  
 in proportion to the percentage achievement of the maximum
over the midpoint

	 	  
 maximum or better
	  	  
 $45,000 [30%
for achievement of the maximum goal, multiplied by the 60% weight, multiplied by salary]
	  	  
 $21,000 [20%
for achievement of the maximum goal, multiplied by the 60% weight, multiplied by salary]
  
	  	  
 $9,375 [12.5%
for achievement of the maximum goal, multiplied by the 60% weight, multiplied by salary]

	classified asset coverage ratio – 10% weight	 	  
 at least minimum
	  	  
 $2,500 [10% for achievement of the minimum goal,
multiplied by the 10% weight, multiplied by salary]
	  	  
 $1,750 [10% for achievement of the minimum goal,
multiplied by the 10% weight, multiplied by salary]
	  	  
 $938 [7.5% for achievement of the minimum goal, multiplied
by the 10% weight, multiplied by salary]

	 	  
 between minimum and midpoint
	  	  
 in proportion to the percentage achievement of the
midpoint over the minimum
	  	  
 in proportion to the percentage achievement of the
midpoint over the minimum
	  	  
 in proportion to the percentage achievement of the
midpoint over the minimum

	 	  
 midpoint
	  	  
 $5,000 [20% for achievement of the midpoint goal,
multiplied by the 10% weight, multiplied by salary]
	  	  
 $2,625 [15% for achievement of the midpoint goal,
multiplied by the 10% weight, multiplied by salary]
	  	  
 $1,250 [10% for achievement of the midpoint goal,
multiplied by the 10% weight, multiplied by salary]

	 	  
 between midpoint and maximum
	  	  
 in proportion to the percentage achievement of the maximum
over the midpoint
	  	  
 in proportion to the percentage achievement of the maximum
over the midpoint
	  	  
 in proportion to the percentage achievement of the maximum
over the midpoint

	 	  
 maximum or better
	  	  
 $7,500 [30% for
achievement of the maximum goal, multiplied by the 10% weight, multiplied by salary]
	  	  
 $3,500 [20% for
achievement of the maximum goal, multiplied by the 10% weight, multiplied by salary]
  
	  	  
 $1,563 [12.5%
for achievement of the maximum goal, multiplied by the 10% weight, multiplied by salary]

	loan growth – 10% weight	 	  
 at least minimum
	  	  
 $2,500 [10% for achievement of the minimum goal,
multiplied by the 10% weight, multiplied by salary]
	  	  
 $1,750 [10% for achievement of the minimum goal,
multiplied by the 10% weight, multiplied by salary]
	  	  
 $938 [7.5% for achievement of the minimum goal, multiplied
by the 10% weight, multiplied by salary]

	 	  
 between minimum and midpoint
	  	  
 in proportion to the percentage achievement of the
midpoint over the minimum
	  	  
 in proportion to the percentage achievement of the
midpoint over the minimum
	  	  
 in proportion to the percentage achievement of the
midpoint over the minimum

	 	  
 midpoint    
	  	  
 $5,000 [20% for achievement of the midpoint goal,
multiplied by the 10% weight, multiplied by salary]
	  	  
 $2,625 [15% for achievement of the midpoint goal,
multiplied by the 10% weight, multiplied by salary]
	  	  
 $1,250 [10% for achievement of the midpoint goal,
multiplied by the 10% weight, multiplied by salary]

									
	 	 	 if actual

performance is . . .
	  	 annual incentive payment earned by . .
..

	 	  	 Mr. A [tier 1 executive, salary

$250,000]
	  	 Mr. B [tier 2 executive, salary

$175,000]
	  	 Mr. C [tier 3 executive, salary

$125,000]

		 	  
 between midpoint and maximum
	  	  
 in proportion to the percentage achievement of the maximum
over the midpoint
	  	  
 in proportion to the percentage achievement of the maximum
over the midpoint
	  	  
 in proportion to the percentage achievement of the maximum
over the midpoint

	 	 	  
 maximum or better
	  	  
 $7,500 [30% for
achievement of the maximum goal, multiplied by the 10% weight, multiplied by salary]
	  	  
 $3,500 [20% for
achievement of the maximum goal, multiplied by the 10% weight, multiplied by salary]
  
	  	  
 $1,563 [12.5%
for achievement of the maximum goal, multiplied by the 10% weight, multiplied by salary]

	regulatory status – 20% weight	 	  
 did not achieve goal
	  	  
 0
	  	  
 0
	  	  
 0

	 	  
 achieved goal
	  	  
 $15,000 [30% for achievement of the goal, multiplied by
the 20% weight, multiplied by salary]
	  	  
 $7,000 [20% for achievement of the goal, multiplied by the
20% weight, multiplied by salary]
	  	  
 $3,125 [12.5% for achievement of the goal, multiplied by
the 20% weight, multiplied by salary]EX-4.1

 Exhibit 4.1 

Execution Version 
  

 
 THIRD AMENDMENT 

DATED AS OF JUNE 16, 2015 
 TO

 Note Purchase Agreements dated as of June 19, 2003 

Re: 
 5.55% Senior Notes, Series
A, due June 19, 2023 
 4.91% Senior Notes, Series B, due June 19, 2018 

5.05% Senior Notes, Series D, due July 19, 2020 

5.82% Senior Notes, Series E, due March 28, 2024 

8.38% Senior Notes, Series F, due March 25, 2019 

8.92% Senior Notes, Series G, due March 25, 2024 

4.73% Senior Notes, Series H, due December 1, 2023 

5.03% Senior Notes, Series I, due December 1, 2026 

5.03% Senior Notes, Series J, due December 1, 2026 

5.18% Senior Notes, Series K, due December 1, 2026 

Issued by 
 NRP (OPERATING) LLC

  
  

 
  

 

 TABLE OF CONTENTS 

(Not a part of this Third Amendment) 
  

							
	SECTION	 	HEADING	  	PAGE	 
			
	SECTION 1.	 	AMENDMENTS TO NOTE AGREEMENTS	  	 	2	  
			
	SECTION 2.	 	CONDITIONS PRECEDENT	  	 	16	  
			
	SECTION 3.	 	REPRESENTATIONS AND WARRANTIES	  	 	18	  
			
	SECTION 4.	 	MISCELLANEOUS	  	 	19	  

 SCHEDULE I — Name of Holders and Principal Amount of Notes 

SCHEDULE II — Post-Third Amendment Effective Date Actions 

SCHEDULE III — Mortgaged Properties 

  
 -i- 

 Dated as of 

June 16, 2015 
 To each of the Holders 

listed in Schedule I to 
 this Third Amendment 

Ladies and Gentlemen: 
 Reference is made to
(i) the separate Note Purchase Agreements each dated as of June 19, 2003 (as amended and supplemented from time to time, the “Note Agreements”), by and between NRP (Operating) LLC, a Delaware limited liability company (the
“Company”), and the holders of the Notes (as defined below) (collectively, the “Holders”), (ii) the $60,000,000 initial aggregate principal amount of 5.55% Senior Notes, Series A, due June 19, 2023, of the
Company (the “Series A Notes”), (iii) the $80,000,000 initial aggregate principal amount of 4.91% Senior Notes, Series B, due June 19, 2018, of the Company (the “Series B Notes”), (iv) the
$100,000,000 initial aggregate principal amount of 5.05% Senior Notes, Series D, due July 19, 2020, of the Company (the “Series D Notes”), (v) the $225,000,000 initial aggregate principal amount of 5.82% Senior Notes,
Series E, due March 28, 2024, of the Company (the “Series E Notes”), (vi) the $150,000,000 initial aggregate principal amount of 8.38% Senior Notes, Series F, due March 25, 2019, of the Company (the “Series F
Notes”), (vii) the $50,000,000 initial aggregate principal amount of 8.92% Senior Notes, Series G, due March 25, 2024, of the Company (the “Series G Notes”), (viii) the $75,000,000 initial aggregate principal
amount of 4.73% Senior Notes, Series H, due December 1, 2023, of the Company (the “Series H Notes”), (ix) the $125,000,000 initial aggregate principal amount of 5.03% Senior Notes, Series I, due December 1, 2026, of
the Company (the “Series I Notes”), (x) the $50,000,000 initial aggregate principal amount of 5.03% Senior Notes, Series J, due December 1, 2026, of the Company (the “Series J Notes”) and (xi) the
$50,000,000 initial aggregate principal amount of 5.18% Senior Notes, Series K, due December 1, 2026, of the Company (the “Series K Notes” and collectively with the Series A Notes, Series B Notes, Series D Notes, Series E
Notes, Series F Notes, Series G Notes, Series H Notes, Series I Notes and Series J Notes, the “Notes”). Capitalized terms used in this Third Amendment (this “Third Amendment”) without definition shall have the
meanings given such terms in the Note Agreements (after giving effect to the amendments in Section 1 below). 
 The Company has
requested the amendment of certain provisions of the Note Agreements, as more fully described herein, and the Holders are willing to amend such provisions of the Note Agreements as provided herein, subject to the satisfaction of the conditions
specified in Section 2 below. 
 Accordingly, in consideration of the undertakings and the mutual agreements contained herein, and for
other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, each of the Company, the Subsidiary Guarantors and the Holders agrees as follows: 

			
	NRP (Operating) LLC		Third Amendment

  

 SECTION 1 AMENDMENTS TO NOTE AGREEMENTS. 

Subject to the satisfaction of the conditions specified in Section 2 below and effective on the Third Amendment Effective Date (as defined
below), the Note Agreements are hereby amended as set forth below in this Section 1. 
 Section 1.1 Section 7.2(a) of
the Note Agreements is hereby amended and restated in its entirety to read as follows: 
 “(a) Covenant
Compliance — the information (including detailed calculations) required in order to establish whether the Company was in compliance with the requirements of Section 10.3 through Section 10.8 hereof, inclusive, and each
Incorporated Provision that requires the calculation of any sum, during, or as of the end of, the quarterly or annual period covered by the statements then being furnished (including with respect to each such Section or Incorporated Provision, where
applicable, the calculations of the maximum or minimum amount, ratio or percentage, as the case may be, permissible under the terms of such Section or Incorporated Provision, and the calculation of the amount, ratio or percentage then in existence);
and” 
 Section 1.2 Section 7 of the Note Agreements is hereby amended by adding the following as new Section 7.4
at the end of such Section 7: 
 “Section 7.4. Electronic Delivery with Respect to Collateral Matters and Most Favored Lender
Notices. The Collateral Agent will make any material delivered by the Company to the Collateral Agent relating to the Collateral and any Most Favored Lender Notices delivered by the Company to the Collateral Agent, as well as any amendments,
waivers, consents, and other written information, documents, instruments and other materials relating to any Collateral Document (collectively, the “Communications”) available to the holders of the Notes by posting such
Communications on an electronic delivery system such as IntraLinks or a substantially similar electronic system acceptable to the Company in its reasonable discretion (the “Platform”). The Company acknowledges that (a) the
distribution of material through an electronic medium is not necessarily secure and that there are confidentiality and other risks associated with such distribution, (b) the Platform is provided “as is” and “as available”
and (c) neither the Collateral Agent nor any of its Affiliates warrants the accuracy, completeness, timeliness, sufficiency, or sequencing of the Communications posted on the Platform. ” 

Section 1.3 Section 8 of the Note Agreements is hereby amended by (a) renaming such Section as “SECTION 8.
PREPAYMENT OF THE 2003 NOTES; PREPAYMENT OF ALL NOTES IN CONNECTION WITH ASSET DISPOSITIONS” and (b) adding the following as a new Section 8.8 at the end of such Section 8: 

“Section 8.8. Prepayment of All Notes in Connection with Asset Dispositions. In connection with a Debt Prepayment Application
pursuant to Section 10.7A where the aggregate Disposition Value of all property subject to one or more Asset Dispositions from and after March 25, 2009 exceeds 35% of Consolidated Total Assets, as determined in accordance with
Section 10.7A (the percentage of such Disposition Value in excess of said 35% being referred to as the “Excess Disposition Value Percentage” and the Net Proceeds Amount derived from such Excess

  
 2 

			
	NRP (Operating) LLC		Third Amendment

  

 
Disposition Value Percentage being referred to as the “Second Level Net Proceeds Amount”), the Company shall apply the Second Level Net Proceeds Amount to prepay each outstanding
Note in a principal amount equal to the product of (x) the Second Level Net Proceeds Amount being applied to the payment of Senior Debt multiplied by (y) a fraction the numerator of which is the outstanding principal amount of such Note
and the denominator of which is the sum of (i) the aggregate outstanding principal amount of the Notes plus (without duplication) (ii) the aggregate outstanding principal amount of any other Senior Debt that is being paid as part of such
Debt Prepayment Application. Each such prepayment of the Notes pursuant to this Section 8.8 shall be pursuant to and in accordance with the terms of (A) Section 8.2 with respect to the Series A and B Notes, (B) Section 6 of
the Supplement dated as of July 19, 2005 with respect to the Series D Notes, (C) Section 6 of the Supplement dated as of March 28, 2007 with respect to the Series E Notes, (D) Section 6 of the Supplement dated as of
March 25, 2009 with respect to the Series F and G Notes, (E) Section 6 of the Supplement dated as of April 20, 2011 with respect to the Series H, I, J and K Notes, and (F) with respect to any Notes issued after the Third
Amendment Effective Date, any analogous provision contained in the Supplement pursuant to which such Notes are issued which provides for optional prepayments of such Notes with the make-whole amount applicable to such Notes.” 

Section 1.4 Section 9.2 of the Note Agreements is hereby amended by adding the following text at the end of such
Section 9.2: 
 “Without limiting the foregoing, each policy of insurance of the Company and each Grantor shall (a) name the
Collateral Agent, on behalf of Secured Parties, as an additional insured thereunder as its interests may appear, and (b) in the case of each casualty insurance policy, contain a loss payable clause or endorsement, reasonably satisfactory in
form and substance to the Collateral Agent and the Requisite Secured Parties, that names the Collateral Agent, on behalf of the Secured Parties, as the lender loss payee thereunder. If any portion of any Building (as defined in the Flood Laws)
encumbered by a Mortgage is at any time located in an area identified by the Federal Emergency Management Agency (or any successor agency) as a special flood hazard area with respect to which flood insurance has been made available under the Flood
Laws, then the Company or applicable Grantor shall (i) maintain, cause to be maintained, with a financially sound and reputable insurer, flood insurance in amounts and otherwise sufficient to comply with all applicable rules and regulations
promulgated pursuant to the Flood Laws and (ii) deliver to the Collateral Agent (for further distribution to each holder of the Notes via the Platform as contemplated by Section 7.4) evidence of such compliance in form and substance
reasonably acceptable to the Collateral Agent and the Requisite Secured Parties, including, without limitation, evidence of annual renewals of such insurance.” 

Section 1.5 Section 9.6 of the Note Agreements is hereby amended and restated in its entirety to read as follows: 

“Section 9.6. Notes to Rank Pari Passu. The Company’s payment obligations under this Agreement and the Notes, and the payment
obligations of each Subsidiary Guarantor under the Subsidiary Guarantee, shall at all times rank at least pari passu, without preference or priority, with its respective obligations in respect of the Bank Agreement, the Term Bank Agreement and

  
 3 

			
	NRP (Operating) LLC		Third Amendment

  

 
the Other Agreements and all other senior Debt of the Company or the Subsidiary Guarantor (as applicable), other than Debt secured by Liens permitted under this Agreement which under applicable
laws rank in priority thereto.” 
 Section 1.6 Section 9.7(c) of the Note Agreements is hereby amended by replacing
the reference to “the Bank Agreement” appearing in clause (ii)(B) thereof with a reference to “any Material Credit Facility”. 

Section 1.7 Section 9 of the Note Agreements is hereby amended by adding the following as new Sections 9.8, 9.9, 9.10 and
9.11 at the end of such Section 9: 
 “Section 9.8. Grantors; Collateral. 

(a) Within 45 days of (x) the formation or acquisition of any entity which meets the definition of a Subsidiary Guarantor
or a Subsidiary becoming a Material Subsidiary (in each case, other than BRP LLC, a Delaware limited liability company), or the Company or a Subsidiary becoming a Reinstated Grantor or (y) the acquisition by any Grantor of any property (other
than real property) which would constitute Collateral but for the fact that it is not already subject to the Collateral Documents, the Company shall, in each case, at the Company’s expense: 

(i) furnish to the Collateral Agent (for further distribution to each holder of the Notes via the Platform as contemplated by
Section 7.4), a description of any Material Leased Property and Material Owned Real Property of such Person, in detail reasonably satisfactory to the Collateral Agent and the Requisite Secured Parties; 

(ii) other than with respect to any Material Leased Property or Material Owned Real Property of such Person, take, and cause
such Person to take, whatever action (including supplements to the Security Agreement and other security and pledge agreements, in all such cases, in form and substance reasonably satisfactory to the Collateral Agent and the Requisite Secured
Parties (including delivery to the Collateral Agent of any Pledged Equity Interests which are certificated (accompanied by undated stock powers executed in blank) and instruments evidencing the Pledged Debt indorsed in blank, in each case, to the
extent required by the Security Agreement)) required to subject the applicable assets of such Person or such acquired property to a legal, valid and enforceable first priority perfected Lien (subject to Liens permitted under this Agreement) in favor
of the Collateral Agent for the benefit of the Secured Parties, in all such cases to the same extent that such documents and instruments would have been required to have been delivered by Persons that were Grantors on the Third Amendment Effective
Date, securing payment of the Secured Obligations; and 
 (iii) upon the request of the Collateral Agent or Requisite Secured
Parties in its or their reasonable discretion, a signed copy of an opinion, addressed to the Collateral Agent and the other Secured Parties, of counsel for the applicable Grantors reasonably acceptable to the Collateral Agent and the Requisite
Secured 

  
 4 

			
	NRP (Operating) LLC		Third Amendment

  

 
Parties, as to the validity and enforceability of the agreements entered into pursuant to this Section 9.8(a) and as to such other related matters as the Collateral Agent or Requisite
Secured Parties may reasonably request. 
 (b) Within 90 days of (x) any entity (other than BRP LLC, a Delaware limited
liability company) becoming a Subsidiary Guarantor pursuant to Section 9.7(a) or a Reinstated Grantor, (y) the acquisition by any Grantor of any Material Leased Property or Material Owned Real Property or (z) any property of any
Grantor becoming Material Leased Property or Material Owned Real Property after the Third Amendment Effective Date, the Company shall, in each case, at the Company’s expense: 

(i) take, and cause such Person to take, whatever action (including the recording of Mortgages and the filing of UCC financing
statements) as may be necessary in the reasonable opinion of the Collateral Agent or the Requisite Secured Parties in its or their reasonable discretion to vest in the Collateral Agent (or in any representative of the Collateral Agent designated by
it) valid and subsisting Liens on such Material Leased Property and Material Owned Real Property; and 
 (ii) upon the
request of the Collateral Agent or the Requisite Secured Parties in its or their reasonable discretion, a signed copy of an opinion, addressed to the Collateral Agent and the other Secured Parties, of counsel for the applicable Grantors reasonably
acceptable to the Collateral Agent and the Requisite Secured Parties, as to the validity and enforceability of the agreements entered into pursuant to this Section 9.8(b) and as to such other related matters as the Collateral Agent or the
Requisite Secured Parties may reasonably request. 
 (c) The time periods set forth in this Section 9.8 may be extended
upon the request of the Company, if the Company and the Grantors are diligently pursuing same, in the reasonable discretion of the Collateral Agent and the Requisite Secured Parties. Any documentation delivered pursuant to this Section 9.8
shall constitute a Financing Agreement hereunder and any such document creating or purporting to create a Lien in favor of the Collateral Agent for the benefit of the Secured Parties shall constitute a Collateral Document under this Agreement. 

(d) Notwithstanding anything to the contrary in this Section 9.8, with respect to any Material Leased Property with
respect to which any Grantor is the lessee and which is required to be encumbered with a first priority Mortgage pursuant to this Section 9.8, (i) the Company shall use commercially reasonable efforts to obtain (y) (1) a
memorandum of lease in recordable form with respect to such leasehold interest, executed and acknowledged by the lessor of such leasehold interest, or (2) evidence that the applicable lease with respect to such leasehold interest or a
memorandum thereof has been recorded in all places necessary, in each of the Collateral Agent’s and the Requisite Secured Parties’ reasonable judgment, to give constructive notice to third-party
purchasers of such leasehold interest, and (z) any lessor consent or approval of such Mortgage as may be required pursuant to the terms of the applicable lease with respect to such leasehold interest; and (ii) if the Company shall fail to
obtain the documents referred 

  
 5 

			
	NRP (Operating) LLC		Third Amendment

  

 
to in clauses (y) or (z) above with respect to any such leasehold interest, after using commercially reasonable efforts to do so, the Company shall have no further obligation to comply
with this Section 9.8(d) with respect to the applicable Material Leased Property. As used in this Section 9.8(d), “commercially reasonable efforts” shall require the Company to commence the matter referred to with diligence and
in a manner consistent with customary business practices, but shall not require that the Company commence litigation or expend any sums of money except such sums as may be required to compensate a lessor for reasonable expenses in reviewing the
applicable documentation (including reasonable legal fees in connection with such review). The Company shall promptly, upon reasonable request, provide the Collateral Agent (for further distribution to each holder of the Notes via the Platform as
contemplated by Section 7.4) with a report in reasonable detail summarizing the commercially reasonable efforts undertaken to obtain the items referenced in this Section 9.8(d). 

(e) Notwithstanding anything in this Agreement to the contrary, the Company shall at all times ensure that the Company and any
Subsidiary of the Company that is a grantor pledging any of its assets to secure the obligations in respect of any Material Credit Facility is also a grantor pledging such assets to secure the obligations with respect to this Agreement, the Other
Agreements and the Notes and is a party to any applicable Collateral Documents necessary to effectuate the foregoing. 

Section 9.9. Further Assurances. The Company will, and will cause its Subsidiaries to, at its own cost and expense, to promptly
(a) correct any material defect or error that may be discovered in any Financing Agreement or in the execution, acknowledgment, filing or recordation thereof and (b) do, execute, acknowledge, deliver, record, re-record, file, re-file,
register and re-register any and all such further acts, deeds, certificates, assurances and other instruments the Collateral Agent or Required Holders may reasonably require from time to time in order to (x) carry out more effectively the
purposes of the Financing Agreements, (y) to further evidence and more fully describe the Collateral intended as security for the Secured Obligations or to state more fully the obligations secured therein, and (z) perfect, protect and
maintain the validity, effectiveness and priority of any of the Collateral Documents and any of the Liens intended to be created thereunder, subject to the limitations set forth in this Agreement and in the other Financing Agreements. 

Section 9.10. Post-Third Amendment Effective Date Actions. Notwithstanding anything to the contrary contained in this Agreement,
the other Financing Agreements or the Third Amendment, the Company and its Subsidiaries shall be required to take the actions specified in Schedule 9.10 as promptly as practicable, and in any event within the time periods set forth in such Schedule.
The provisions of Schedule 9.10 shall be deemed incorporated by reference into this Agreement as fully as if set forth in this Agreement in their entirety. 

Section 9.11. Most Favored Lender.  

(a) If, on the Third Amendment Effective Date or at any time thereafter, any Material Credit Facility shall include any
covenant or event of default (whether set forth as a covenant, undertaking, event of default, restriction or other such provision (but which, for the avoidance of doubt, excludes applicable interest rates, margins, premiums

  
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	NRP (Operating) LLC		Third Amendment

  

 
and fees)) not set forth in this Agreement or that would be more beneficial to the holders of the Notes than any analogous provision contained in this Agreement (any such covenant or event of
default, an “Additional Provision”), then, with respect to any such Additional Provision arising at any time after the Third Amendment Effective Date, the Company shall provide a Most Favored Lender Notice to the holders of the
Notes. Any Additional Provision (and any related definitions and cross references), whether in effect before or after the Third Amendment Effective Date, shall be deemed automatically incorporated by reference into this Agreement, mutatis
mutandis, as if set forth fully in this Agreement, without any further action required on the part of any Person, effective as of the date when such Additional Provision became effective under such Material Credit Facility (or, in the case of
any Additional Provision existing on the Third Amendment Effective Date, effective as of the Third Amendment Effective Date) (each such Additional Provision, as so incorporated, an “Incorporated Provision”). Upon the request of the
Required Holders, the Company shall enter into any additional agreement or amendment to this Agreement reasonably requested by the Required Holders evidencing any of the foregoing so long as nothing in such amendment contradicts the provisions of
this Section 9.11 (including, for the avoidance of doubt, Section 9.11(b) below). As used herein, “Most Favored Lender Notice” means, in respect of any Additional Provision arising at any time after the Third Amendment
Effective Date, a written notice to each of the holders of the Notes delivered via the Platform as contemplated by Section 7.4 so long as the Platform is maintained by the Collateral Agent and, thereafter, in accordance with Section 18, in
each case promptly and in any event within 30 days after the inclusion of such Additional Provision in any Material Credit Facility (including by way of amendment or other modification of any existing provision thereof), by a Senior Financial
Officer of the Company referring to the provisions of this Section 9.11 and setting forth a description of such Additional Provision (including any defined terms used therein) and related explanatory calculations, as applicable. 

(b) So long as no Default or Event of Default has occurred and is continuing, if any Additional Provision is amended, waived or
otherwise modified in each relevant Material Credit Facility with the effect that such Additional Provision is made less restrictive, such Additional Provision is removed from each relevant Material Credit Facility or each Material Credit Facility
containing such Additional Provision shall be terminated, such Additional Provision incorporated into this Agreement pursuant to this Section 9.11: (x) shall automatically be deemed amended, waived, modified or removed simultaneously with
any amendment, waiver, modification or removal of such Additional Provision under each relevant Material Credit Facility or (y) shall automatically be deemed deleted from this Agreement at such time as each relevant Material Credit Facility
shall be terminated and no amounts shall be outstanding thereunder, as applicable, in each case without any further action by the Company; provided, that 

(i) other than as provided in Section 17, this Agreement shall not be amended to delete any covenant, undertaking, event
of default, restriction or other provision included in this Agreement (other than by operation of Section 9.11(a)) or to make any such provision less restrictive on the Company and its Subsidiaries. For the avoidance of doubt, if the Company
and the requisite 

  
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	NRP (Operating) LLC		Third Amendment

  

 
holders of Notes enter into any amendment to this Agreement evidencing the incorporation of an Additional Provision into this Agreement in replacement of any provision set forth in this Agreement
(an “Original Provision”), in the event that such Additional Provision is subsequently, by operation of clauses (x) or (y) of this Section 9.11(b), deemed to be deleted from this Agreement or deemed amended such that
it is less restrictive on the Company and its Subsidiaries than the Original Provision, the Original Provision shall be deemed automatically to be restored in this Agreement; and 

(ii) if any lender or agent under any Material Credit Facility is paid any remuneration as consideration for any amendment,
waiver or other modification of or the removal of an Additional Provision under such Material Credit Facility, then such remuneration shall be concurrently paid, on equivalent terms, ratably to each holder of the Notes then outstanding.” 

Section 1.8 Section 10.3(a) of the Note Agreements is hereby amended and restated in its entirety as follows: 

“(a) Liens created by or pursuant to the Collateral Documents which secure the Secured Obligations with respect to the
Bank Agreement, the Term Bank Agreement, this Agreement, the Other Agreements and the Notes, in each case on a pari passu basis in accordance with the Intercreditor Agreement.” 

Section 1.9 Section 10 of the Note Agreements is hereby amended by adding the following as a new Section 10.3A
immediately following Section 10.3: 
 “Section 10.3A. Liens Securing Material Credit Facilities. Notwithstanding Sections
10.3 or 10.4 or any other provision of this Agreement, the Company will not, and will not permit any of its Subsidiaries to, directly or indirectly create, incur, assume or permit to exist (upon the happening of a contingency or otherwise) any Lien
on any property of the Company or any Subsidiary which may otherwise be permitted by Section 10.3, to secure any amounts owed or outstanding under any Material Credit Facility, unless the Notes, this Agreement and the Other Agreements are also
concurrently equally and ratably secured pursuant to documentation satisfactory to the Required Holders.” 
 Section 1.10
Section 10 of the Note Agreements is hereby amended by adding the following as a new Section 10.5A immediately following Section 10.5: 

“Section 10.5A. Leverage Ratio. The Company will not permit, as of the end of each fiscal quarter, the ratio of Consolidated Debt
(determined as of such fiscal quarter end date) to Consolidated EBITDDA (determined as of such fiscal quarter end date for the twelve months then ended), to exceed 4.00:1.00.” 

Section 1.11 Section 10.7(b) of the Note Agreements is hereby amended and restated in its entirety as follows: 

“(b) immediately before and after giving effect to the Asset Disposition, no Default or Event of Default exists or would
exist; and” 

  
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	NRP (Operating) LLC		Third Amendment

  

 Section 1.12 Section 10 of the Note Agreements is hereby amended by adding
the following as a new Section 10.7A immediately following Section 10.7: 
 “Section 10.7A. Sale of Assets, Etc.
(Additional Covenant). Except as permitted under Section 10.2, the Company will not, and will not permit any of its Subsidiaries to, make any Asset Disposition unless: 

(a) in the good faith opinion of the Company or Subsidiary making the Asset Disposition, the Asset Disposition is in exchange
for consideration having a fair market value at least equal to that of the property exchanged; 
 (b) immediately before and
after giving effect to the Asset Disposition, no Default or Event of Default exists or would exist; 
 (c) immediately after
giving effect to such Asset Disposition, the Company could incur at least $1.00 of additional Debt pursuant to Section 10.6(a)(iii); and 

(d) the sum of (i) the Disposition Value of the property subject to such Asset Disposition, plus (ii) the aggregate
Disposition Value for all other property that was the subject of an Asset Disposition occurring on or after March 25, 2009 would not exceed 35% of Consolidated Total Assets determined as of the end of the most recently ended calendar month
preceding such Asset Disposition. 
 To the extent that the Net Proceeds Amount consisting of cash for any Transfer to a Person other than the Company or
Subsidiary is applied to a Debt Prepayment Application or applied or committed to be applied to a Property Reinvestment Application within one year after such Transfer (and if so committed, is in fact applied within twelve (12) months of such
commitment), then such Transfer (or, if less than all such Net Proceeds Amount is applied as contemplated hereinabove, the pro rata percentage thereof which corresponds to the Net Proceeds Amount so applied), only for the purpose of determining
compliance with subparagraph (d) above as of any date, shall be deemed not to be an Asset Disposition. Further, for purposes of this Section 10.7A, a Transfer of property consisting of timber shall be deemed not to be an Asset Disposition
so long as the aggregate Disposition Value of such property consisting of timber subject to a Transfer from and after March 25, 2009 does not exceed $30,000,000.” 

Section 1.13 Section 10 of the Note Agreements is hereby amended by adding the following as a new Section 10.10 at the
end of such Section 10: 
 “Section 10.10. Economic Sanctions, Etc. 

(a) The Company will not and will not permit any Subsidiary to (i) become a Person described or designated in the
Specially Designated Nationals and Blocked Persons List of the Office of Foreign Assets Control or in Section 1 of Executive Order No. 13224 of September 24, 2001, Blocking Property and Prohibiting Transactions with Persons Who
Commit, Threaten to Commit or Support Terrorism, 66 U.S. Fed. Reg. 49, 079 (2001), as amended, or (ii) engage in any dealings or transactions with any such Person. 

  
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	NRP (Operating) LLC		Third Amendment

  

 (b) The Company will not and will not permit any Affiliated Entity to
(i) become an OFAC Listed Person or (ii) have any investments in, or engage in any dealings or transactions with, any Blocked Person. As used in this subparagraph (b), the following terms have the following meanings: 

“Affiliated Entity” means the Subsidiaries of the Company and any of their or the Company’s respective
Controlled Affiliates. As used in this definition, “Control” means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of a Person, whether through the ownership of
voting securities, by contract or otherwise. 
 “Blocked Person” means (a) an OFAC Listed Person and
(b) a department, agency or instrumentality of, or Person that is otherwise controlled by or acting on behalf of, directly or indirectly, (i) any OFAC Listed Person or (ii) the government of a country subject to comprehensive U.S.
economic sanctions administered by OFAC. 
 “OFAC” means the Office of Foreign Assets Control of the U.S.
Department of Treasury. 
 “OFAC Listed Person” means a Person whose name appears on the list of Specially
Designated Nationals and Blocked Persons published by OFAC. 
 Section 1.14 Section 11(c) of the Note Agreements is hereby
amended and restated in its entirety as follows: 
 “(c) the Company defaults in the performance of or compliance with
any term contained in Section 7.1(d), Sections 10.2 through 10.8 inclusive (for the avoidance of doubt, including, without limitation, Sections 10.3A, 10.5A and 10.7A), Section 10.10 or any Incorporated Provision for which there is no
grace period contemplated in the applicable Material Credit Facility; or” 
 Section 1.15 Section 11(k) of the Note
Agreements is hereby amended and restated in its entirety as follows: 
 “(k) (i) any Financing Agreement shall cease to
be in full force and effect for any reason whatsoever (except for releases of the Subsidiary Guarantee pursuant to and in accordance with the provisions of Section 9.7 and the Intercreditor Agreement), including, without limitation, a
determination by any Governmental Authority or court that such Financing Agreement is invalid, void or unenforceable in any material respect or the Company or any Subsidiary Guarantor shall contest or deny the validity or enforceability of any of
its obligations under any such Financing Agreement or (ii) any Collateral Document shall for any reason (other than as permitted pursuant to the terms of this Agreement, such Collateral Document and the Intercreditor Agreement) cease to create
a valid and perfected Lien, with the priority required by this Agreement, such Collateral Document and the Intercreditor Agreement (subject to Liens in the priority and to the extent permitted under this Agreement), on a portion of the Collateral
purported to be covered thereby with aggregate fair market value for all such Collateral in excess of $5,000,000; or” 

  
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	NRP (Operating) LLC		Third Amendment

  

 Section 1.16 Section 11 of the Note Agreements is hereby amended by adding
the following as new Sections 11(l) and 11(m) immediately following Section 11(k): 
 “(l) an event of default
shall occur under any Incorporated Provision that is an “event of default” under any Material Credit Facility in which it originated; or 

(m) any breach of Section 13 of the Intercreditor Agreement shall occur.” 

Section 1.17 Section 18 of the Note Agreements is hereby amended by replacing the word “All” appearing at the
beginning of such Section with the phrase “Except to the extent otherwise provided in Section 7.4 so long as the Platform is maintained by the Collateral Agent, all”. 

Section 1.18 Section 20 of the Note Agreements is hereby amended by (a) replacing the words “and this
Agreement” appearing in clause (viii)(z) of such Section with the words “or any other Financing Agreement” and (b) adding the following as a new paragraph at the end of such Section: 

“In the event that as a condition to receiving access to any Communication or to any other information relating to a
Collateral Document or to the Company or its Subsidiaries in connection with the transactions contemplated by or otherwise pursuant to this Agreement or any Collateral Document, any Purchaser or holder of a Note is required to agree to a
confidentiality undertaking (whether through IntraLinks, another secure website, a secure virtual workspace or otherwise) which is different from this Section 20, this Section 20 shall not be amended thereby and, as between such Purchaser
or such holder and the Company, this Section 20 shall supersede any such other confidentiality undertaking.” 

Section 1.19 Section 22 of the Note Agreements is hereby amended by adding the following as a new Section 22.7
immediately following Section 22.6: 
 “Section 22.7. Jurisdiction and Process; Waiver of Jury Trial. 

(a) The Company hereby (i) irrevocably submits and consents to the jurisdiction of any federal court sitting in the
Borough of Manhattan, The City of New York (or, if such court lacks jurisdiction, the State courts located therein), and irrevocably agrees that all actions or proceedings relating to this Agreement or the Notes may be litigated in such courts, and
(ii) waives any objection which it may have based on improper venue or forum non conveniens to the conduct of any proceeding in any such court and waives personal service of any and all process upon it, and (iii) consents that all such
service of process be made by delivery to it at its address set forth in Section 18. Nothing contained in this section shall affect the right of any holder to serve legal process in any other manner permitted by law or to bring any action or
proceeding in the courts of any jurisdiction against the Company or to enforce a judgment obtained in the courts of any other jurisdiction. 

  
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	NRP (Operating) LLC		Third Amendment

  

 (b) THE PARTIES HERETO WAIVE ANY RIGHT TO HAVE A JURY PARTICIPATE IN
RESOLVING ANY DISPUTE, WHETHER SOUNDING IN CONTRACT, TORT, OR OTHERWISE, BETWEEN THEM ARISING OUT OF, CONNECTED WITH, RELATED TO OR INCIDENTAL TO THE RELATIONSHIP ESTABLISHED BETWEEN THEM IN CONNECTION WITH THIS AGREEMENT, THE NOTES OR ANY OTHER
INSTRUMENT, DOCUMENT OR AGREEMENT EXECUTED OR DELIVERED IN CONNECTION HEREWITH OR THE TRANSACTIONS RELATED HERETO. THE PARTIES HERETO HEREBY AGREE AND CONSENT THAT ANY SUCH CLAIM, DEMAND, ACTION OR CAUSE OF ACTION SHALL BE DECIDED BY COURT TRIAL
WITHOUT A JURY AND THAT ANY OF THEM MAY FILE AN ORIGINAL COUNTERPART OR A COPY OF THIS AGREEMENT WITH ANY COURT AS WRITTEN EVIDENCE OF THE CONSENT OF THE PARTIES HERETO TO THE WAIVER OF THEIR RIGHT TO TRIAL BY JURY.” 

Section 1.20 Schedule B to the Note Agreements is hereby amended by inserting the following new defined terms in the appropriate
alphabetical order: 
 “Collateral” has the meaning assigned to such term in the Intercreditor Agreement as
in effect from time to time and, after the termination of the Intercreditor Agreement, as in effect immediately prior to such termination. 

“Collateral Agent” has the meaning assigned to such term in the Intercreditor Agreement as in effect from time
to time and, after the termination of the Intercreditor Agreement, as in effect immediately prior to such termination. 

“Collateral Documents” means, collectively, the Security Agreement, the Mortgages, each of the collateral
assignments, security agreements, pledge agreements or other similar agreements delivered to the Collateral Agent (for further distribution to each of the holders of the Notes via the Platform as contemplated by Section 7.4) pursuant to
Section 9.8 of this Agreement or the Intercreditor Agreement, and each of the other agreements, instruments or documents that creates or purports to create a Lien in favor of the Collateral Agent for the benefit of the Secured Parties as
security for the Secured Obligations. 
 “Communications” is defined in Section 7.4. 

“Flood Laws” means, collectively, (a) National Flood Insurance Reform Act of 1994 (which comprehensively
revised the National Flood Insurance Act of 1968 and the Flood Disaster Protection Act of 1973) as now or hereafter in effect or any successor statute thereto, (b) the Flood Insurance Reform Act of 2004 as now or hereafter in effect or any
successor statute thereto and (c) the Biggert-Waters Flood Insurance Reform Act of 2012 as now or hereafter in effect or any successor statute thereto. 

  
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	NRP (Operating) LLC		Third Amendment

  

 “Grantor” means the Company and each Wholly Owned Subsidiary
of the Company in existence on the Third Amendment Effective Date (other than NRP Trona, LLC, a Delaware limited liability company), and each Person which becomes a grantor under the Security Agreement after the Third Amendment Effective Date. As
used in this definition, “Wholly Owned Subsidiary” means any Subsidiary of which all of the outstanding equity interests (other than any directors’ qualifying shares mandated by applicable law), on a fully-diluted basis, are owned by
the Company or one or more of the Wholly Owned Subsidiaries or are owned by the Company and one or more of the Wholly Owned Subsidiaries. 

“Incorporated Provision” is defined in Section 9.11. 

“Intercreditor Agreement” means the Intercreditor Agreement, dated as of June 16, 2015, among Citibank,
N.A., as Collateral Agent, Citibank N.A, in its capacity as agent on behalf of the lenders under the Term Bank Agreement, Citibank, N.A, in its capacity as agent on behalf of the lenders under the Bank Agreement, the holders of the Notes party
thereto, the Company and the Subsidiary Guarantors party thereto, as the same may be amended, modified, supplemented or restated from time to time. 

“Material Credit Facility” means, as to the Company and its Subsidiaries, 

(a) the Bank Agreement, including any renewals, extensions, amendments, supplements, restatements, replacements or refinancing
thereof; 
 (b) the Term Bank Agreement, including any renewals, extensions, amendments, supplements, restatements,
replacements or refinancing thereof; and 
 (c) any other agreement(s) creating or evidencing indebtedness for borrowed money
entered into on or after the Third Amendment Effective Date by the Company or any Subsidiary, or in respect of which the Company or any Subsidiary is an obligor or otherwise provides a guarantee or other credit support (“Credit
Facility”), in a principal amount outstanding or available for borrowing equal to or greater than $25,000,000 (or the equivalent of such amount in the relevant currency of payment, determined as of the date of the closing of such facility
based on the exchange rate of such other currency); and if no Credit Facility or Credit Facilities equal or exceed such amounts, then the largest Credit Facility shall be deemed to be a Material Credit Facility. 

“Material Leased Property” means each quarry, mine, reserve or other site and the improvements thereto in
which a Grantor has a leasehold interest and which (a) with respect to any such real property that is acquired by a Grantor after the Third Amendment Effective Date, is expected to generate in excess of $5,000,000 in revenue for the 12-month
period commencing on the date the acquisition is consummated or (b) otherwise, has generated in excess of $5,000,000 of the revenue reflected in the last audited financial statements delivered pursuant to Section 7.1(b) of this Agreement.

  
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	NRP (Operating) LLC		Third Amendment

  

 “Material Owned Real Property” means real property with
respect to which a Grantor is the owner and which (a) with respect to any such real property that is acquired by a Grantor after the Third Amendment Effective Date, is expected to generate in excess of $5,000,000 in revenue for the 12-month
period commencing on the date the acquisition is consummated or (b) otherwise, has generated in excess of $5,000,000 of the revenue reflected in the last audited financial statements delivered pursuant to Section 7.1(b) of this Agreement.

 “Material Subsidiary” has the meaning assigned to such term in the Bank Agreement as in effect on the
Third Amendment Effective Date. 
 “Most Favored Lender Notice” is defined in Section 9.11. 

“Mortgage” means any deeds of trust, trust deeds, deeds to secure debt, mortgages, leasehold mortgages and
leasehold deeds of trust in form and substance reasonably satisfactory to the Collateral Agent and the Requisite Secured Parties covering the Mortgaged Properties. 

“Mortgaged Properties” shall mean, initially, the real property interests of the Grantors in and to the
quarries, mines, reserves or other sites described on Schedule C and the improvements thereto and any Material Owned Real Property or Material Leased Property that is subjected to a Mortgage after the Third Amendment Effective Date in accordance
with Section 9.8 of this Agreement and the improvements thereto. 
 “Platform” is defined in
Section 7.4. 
 “Pledged Debt” has the meaning assigned to such term in the Security Agreement. 

“Pledged Equity Interests” has the meaning assigned to such term in the Security Agreement. 

“Reinstated Grantor” means, at any time after Liens on the Collateral in favor of the Collateral Agent on
behalf of the holders have been released pursuant to Sections 24(a)(ii) or 24(a)(iii) of the Intercreditor Agreement and the Notes subsequently fail to maintain an Investment Grade Rating, the Company and each Subsidiary that was a Grantor
immediately prior to such release. 
 “Requisite Secured Parties” means the holders of a majority of the
Secured Obligations and, after the termination of the Intercreditor Agreement, shall mean the “Required Holders”. 

“Security Agreement” means that certain Pledge and Security Agreement, dated as of June 16, 2015, by and
among the Collateral Agent and each of the Grantors, as the same may be amended, modified, supplemented or restated from time to time. 

“Secured Obligations” has the meaning assigned to such term in the Intercreditor Agreement as in effect from
time to time and, after the termination of the Intercreditor Agreement, has the meaning assigned to such term therein as in effect immediately prior to such termination to the extent such term relates to obligations owed to holders of the Notes.

  
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	NRP (Operating) LLC		Third Amendment

  

 “Secured Parties” has the meaning assigned to such term in
the Intercreditor Agreement as in effect from time to time and, after the termination of the Intercreditor Agreement, shall mean the holders of the Notes. 

“Term Bank Agreement” means the Term Loan Agreement, dated as of January 23, 2013, among the Company, as
borrower, the lenders party thereto, and Citibank, N.A., as administrative agent, as amended, modified, extended, renewed, refinanced or replaced from time to time. 

“Third Amendment” means the Third Amendment, dated as of June 16, 2015, among the Company and the holders
of the Notes party thereto and as acknowledged by the Subsidiary Guarantors. 
 “Third Amendment Effective
Date” means June 16, 2015. 
 “UCC” means the Uniform Commercial Code as in effect in the
State of New York; provided that if perfection or the effect of perfection or non-perfection or the priority of any security interest in any Collateral is governed by the Uniform Commercial Code as in effect in a jurisdiction other than the State of
New York, “UCC” means the Uniform Commercial Code as in effect from time to time in such other jurisdiction for purposes of the provisions hereof relating to such perfection, effect of perfection or non-perfection or priority. 

Section 1.21 Schedule B to the Note Agreements is hereby amended by amending and restating in their entirety the following defined
terms: 
 “Bank Agreement” means the Third Amended and Restated Credit Agreement dated as of June 16,
2015, among the Company, as borrower, the lenders party thereto, and Citibank, N.A., as administrative agent and collateral agent, as amended, modified, extended, renewed, refinanced or replaced from time to time. 

“Financing Agreement” or “Financing Agreements” shall mean and include this Agreement, the
Other Agreements, the Notes, the Subsidiary Guarantee, the Intercreditor Agreement, and the Collateral Documents, each as amended, modified or supplemented from time to time. 

“Investment Grade Rating” means, with respect to the Notes, a written rating in respect of the Notes, assuming
that the Subsidiary Guaranty has been released, that the Company is the only direct or indirect obligor in respect of the Notes and that the Notes are unsecured, of at least “BBB-” given by Standard & Poor’s Rating Group, a
division of McGraw Hill Inc. or at least “Baa3” given by Moody’s Investors Service, Inc. 
 “Priority
Debt” means the sum, without duplication, of (a) Debt of the Company or any Subsidiary secured by Liens not otherwise permitted by clauses (a) through (d) of Section 10.3; and (b) all Debt of Subsidiaries (other
than (i) Debt of a Subsidiary owed to 

  
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	NRP (Operating) LLC		Third Amendment

  

 
the Company or another Subsidiary, (ii) Debt of a Subsidiary Guarantor pursuant to the Subsidiary Guarantee, (iii) Debt of a Subsidiary Guarantor pursuant to the Guaranty of the
obligations of the Company under the Bank Agreement and (iv) debt of a Subsidiary Guarantor pursuant to the Guaranty of the obligations of the Company under the Term Bank Agreement). 

Section 1.22 Schedule II to this Third Amendment (Post-Third Amendment Effective Date Actions) is hereby added as new
Schedule 9.10 to the Note Agreements. 
 Section 1.23 Schedule III to this Third Amendment (Mortgaged Properties) is
hereby added as new Schedule C to the Note Agreements. 
 SECTION 2 CONDITIONS PRECEDENT. 

The amendments to the Note Agreements set forth in Section 1 shall not become effective until, and shall become effective on, the Business
Day (the “Third Amendment Effective Date”) on which each of the following conditions shall have been satisfied: 

(a) Each of the Holders shall have received this Third Amendment, duly executed by the Company. 

(b) Each of the Holders shall have consented to this Third Amendment as evidenced by its execution thereof. 

(c) Each Subsidiary Guarantor shall have agreed and consented to the terms of this Third Amendment by signing in the
appropriate space on the signature page hereof. 
 (d) The Holders shall have received a duly and fully executed and
authorized Bank Agreement in form and substance reasonably satisfactory to the Holders and the Bank Agreement shall be in full force and effect. 

(e) The Holders shall have received a duly and fully executed and authorized Second Amendment to Term Loan Agreement, dated
June 16, 2015 (the “Second Amendment to Term Bank Agreement”), among the Company, the lenders party thereto and Citibank, N.A., in form and substance reasonably satisfactory to the Holders and the Second Amendment to Term Bank
Agreement shall be in full force and effect. 
 (f) The representations and warranties of each Obligor set forth in
Section 3 hereof or in any Collateral Document shall be true and correct as of the date of the execution and delivery of this Third Amendment and as of the Third Amendment Effective Date. 

(g) The Intercreditor Agreement shall have been duly executed, authorized and delivered by all parties thereto, shall be in
form and substance reasonably satisfactory to the Holders and shall be in full force and effect. 
 (h) The Security
Agreement shall have been duly executed, authorized and delivered by each party thereto, shall be in form and substance reasonably satisfactory to the Holders and shall be in full force and effect. 

  
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	NRP (Operating) LLC		Third Amendment

  

 (i) The Collateral Agent shall have received with respect to any Pledged
Equity Interests which are certificated, the original certificates representing such Pledged Equity Interests accompanied by original undated stock powers executed in blank and original instruments evidencing the Pledged Debt, accompanied by
original note transfer powers indorsed in blank. 
 (j) The Collateral Agent shall have received proper financing statements
in form appropriate for filing under the UCC of all jurisdictions that the Collateral Agent or the Special Counsel (defined below) may deem necessary in order to perfect and protect the first priority liens and security interests created under the
Security Agreement, covering the Collateral described in the Security Agreement. 
 (k) The Collateral Agent and the Holders
shall have received the following: 
 (1) copies of all UCC, tax, judgment and intellectual property lien search results,
dated on or before the Third Amendment Effective Date, listing all effective financing statements, lien notices or comparable documents (together with copies of such financing statements and documents) that name any Grantor as debtor and that are
filed in those states in which such Grantor is organized or maintains its principal place of business, and 
 (2) evidence
that each other recording, filing or action that the Collateral Agent or any Holder may deem necessary in order to perfect and protect the first priority liens and security interests created under the Security Agreement has been made or taken or
that arrangements therefor which are reasonably satisfactory to the Collateral Agent and the Holders have been made (including, without limitation, receipt of duly executed payoff letters and UCC-3 termination statements). 

(l) The Collateral Agent and the Holders shall have received (i) evidence that all insurance required to be maintained
pursuant to Section 9.2 of the Note Agreements (after giving effect to the amendments thereto set forth in Section 1 of this Third Amendment), the Bank Agreement or the Collateral Documents has been obtained and is in effect, and
(ii) the certificates of insurance, naming the Collateral Agent, on behalf of the Secured Parties, as an additional insured or lender loss payee, as the case may be, under all insurance policies maintained with respect to the assets and
properties of the Grantors that constitute Collateral. 
 (m) The Holders and the Collateral Agent shall have received
customary favorable written opinions (addressed to the Holders and the Collateral Agent and dated the Third Amendment Effective Date) of Latham & Watkins LLP, New York counsel for the Company and the Subsidiary Guarantors, relating to the
Company and the Subsidiary Guarantors, this Third Amendment, the transactions contemplated by this Third Amendment, the Collateral Documents to be delivered on the Third Amendment Effective Date and any other matters as the Holders shall reasonably
request. The Company hereby requests such counsel to deliver such opinion. 

  
 17 

			
	NRP (Operating) LLC		Third Amendment

  

 (n) The Company shall have paid, to the extent invoiced at least two Business
Days before the Third Amendment Effective Date, the reasonable fees, charges and disbursements of the Holders’ special counsel, Morgan, Lewis & Bockius, LLP (the “Special Counsel”), incurred in connection with the
negotiation, preparation, execution and delivery of this Third Amendment and the other documents and transactions contemplated hereby. 

(o) All corporate, limited liability company and other proceedings in connection with the transactions contemplated by this
Third Amendment and all documents and instruments incident to such transactions shall be reasonably satisfactory to the Holders and the Special Counsel, and the Holders and the Special Counsel shall have received all such counterpart originals or
certified or other copies of such documents as such Holders or the Special Counsel may reasonably request. 
 Without limiting the generality of the
provisions of Section 17 of the Note Agreements, the conditions set forth in clauses (d), (e), (g), (h) and (o) of this Section 2 shall be deemed satisfied upon the execution and delivery of this Third Amendment by each of the
Holders. 
 SECTION 3 REPRESENTATIONS AND WARRANTIES. 

Each of the Company and the Subsidiary Guarantors hereby represents and warrants that as of the date hereof and as of the Third Amendment
Effective Date as follows: 
 (a) This Third Amendment and the transactions contemplated hereby are within the corporate or
limited liability company powers, as applicable, of such Person, have been duly authorized by all necessary corporate or limited liability company action on the part of such Person and this Third Amendment has been duly executed and delivered by
such Person and constitutes a legal, valid and binding obligation of such Person enforceable in accordance with its terms, except as such enforceability may be limited by (i) applicable bankruptcy, insolvency, reorganization, moratorium or
other similar laws affecting the enforcement of creditors’ rights generally and (ii) general principles of equity (regardless of whether such enforceability is considered in a proceeding in equity or at law). 

(b) No Default or Event of Default has occurred and is continuing or existed immediately prior to the date of this Third
Amendment or the Third Amendment Effective Date, or will exist immediately thereafter. 
 (c) The execution, delivery and
performance of this Third Amendment, the Collateral Documents and the Intercreditor Agreement by such Person does not and will not result in a violation of or default under (i) the articles of formation or limited liability company agreement of
such Person, (ii) any agreement to which such Person is a party or by which it is bound or to which any of its properties is subject, (iii) any order, writ, injunction or decree binding on such Person, or (iv) any statute, regulation,
rule or other law applicable to such Person. 

  
 18 

			
	NRP (Operating) LLC		Third Amendment

  

 (d) No consent, approval or authorization of, or registration, filing or
declaration with, any Governmental Authority is required in connection with the execution, delivery or performance by such Person of this Third Amendment, the Collateral Documents or the Intercreditor Agreement. 

(e) No consideration or remuneration has been paid or will be paid to any agent or any lender under the Term Bank Agreement as
an inducement to enter into the Second Amendment to Term Bank Agreement. No consideration or remuneration has been paid or will be paid to any agent or any lender under the Bank Agreement as an inducement to enter into the Bank Agreement other than
closing fees of a type typical for a new financing (and not in respect of any other accommodation) and payable to the administrative agent under the Bank Agreement, for its own benefit and to be distributed to the lenders under the Bank Agreement in
the discretion of such administrative agent. 
 (f) Schedule III to this Third Amendment sets forth a complete and accurate
list, as of the date of this Third Amendment and the Third Amendment Effective Date, of the quarries, mines, reserves or other sites and the improvements thereto held by the Grantors on such dates that are reasonably expected to constitute Material
Owned Real Property or Material Leased Property for the calendar year ending December 31, 2015. 
 (g) Except as
otherwise contemplated by this Third Amendment or under any other Financing Agreement, as and when executed, delivered and recorded in the proper filing or recording office, the provisions of the Collateral Documents are or will be effective to
create in favor of the Collateral Agent for the benefit of the Secured Parties a legal, valid and enforceable first priority perfected Liens (subject to liens permitted under the Note Agreements to be senior to such Liens in favor of the Collateral
Agent) on all right, title and interest of the Collateral owned by the Grantors and described therein. Except for filings contemplated by this Third Amendment and the Collateral Documents, no filing will be necessary to perfect such Liens or
establish such priority. 
 SECTION 4 MISCELLANEOUS. 

Section 4.1 Except as amended herein, all terms and provisions of the Note Agreements, the Notes and related agreements and
instruments are hereby ratified, confirmed and approved in all respects. 
 Section 4.2 Each Subsidiary Guarantor, for itself as
a guarantor under the Subsidiary Guarantee, consents to the terms of this Third Amendment and reaffirms, ratifies and confirms (a) in all respects each and every obligation and covenant made by it in the Subsidiary Guarantee and (b) that
the Subsidiary Guarantee remains the legal, valid and binding obligation of such Subsidiary Guarantor enforceable against such Subsidiary Guarantor in accordance with its terms. 

Section 4.3 Each reference in the Note Agreements to “this Agreement,” “hereunder,” “hereof,” or
words of similar import in instruments or documents provided for in the Note Agreements or delivered or to be delivered thereunder or in connection therewith, shall, except where the context otherwise requires, be deemed a reference to the Note
Agreements, as amended hereby. 

  
 19 

			
	NRP (Operating) LLC		Third Amendment

  

 Section 4.4 This Third Amendment shall be construed and enforced in accordance
with, and the rights of the parties shall be governed by, the law of the State of New York, excluding choice-of-law principles of the law of such State that would require the application of the laws of a jurisdiction other than such State. 

Section 4.5 This Third Amendment and all covenants herein contained shall be binding upon and inure to the benefit of the
respective successors and assigns of the parties hereunder. All covenants made by the Company and any Subsidiary Guarantor herein shall survive the closing and the delivery of this Third Amendment. 

Section 4.6 This Third Amendment may be executed in any number of counterparts, each of which shall be deemed to be an original
and all of which, taken together, shall constitute but one and the same agreement. Delivery of an executed counterpart of this Third Amendment by facsimile, pdf or other similar electronic method shall be as effective as delivery of a manually
executed counterpart of this Third Amendment. 
 Section 4.7 Whether or not the Third Amendment Effective Date shall occur, the
Obligors jointly and severally agree promptly (and in any event within ten (10) days of receiving any statement or invoice therefor) to pay or cause to be paid the reasonable fees, charges and disbursements of the Special Counsel incurred in
connection with this Third Amendment and any other documents related hereto. Nothing in this Section 4.7 shall limit the Company’s obligations under Section 15 of the Note Agreements. 

Section 4.8 This Third Amendment is a “Financing Agreement” for purposes of the Note Agreements, and, except as
expressly provided herein to the contrary, this Agreement is subject to all provisions of the applicable Note Agreement governing “Financing Agreements.” This Agreement and the other Financing Agreements represent the final agreement
between the parties and may not be contradicted by evidence of prior or contemporaneous oral agreements of the parties. There are no unwritten oral agreements between the parties. 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK -
SIGNATURE PAGES FOLLOW] 

  
 20 

 The execution hereof by the holders shall constitute a contract among the Company and the holders
for the uses and purposes hereinabove set forth. 
  

			
	 NRP (Operating) LLC, a Delaware limited

    liability company

		
	By:		 /s/ Craig W. Nunez

	Name:		Craig W. Nunez
	Title:		Chief Financial Officer and Treasurer

 [Signature Page to Third Amendment (NRP (Operating) Note Agreements)] 

			
	NRP (Operating) LLC		Third Amendment

  

 Each of the undersigned, severally, hereby acknowledges, approves and agrees to the foregoing
Third Amendment and ratifies and confirms each of its obligations under the Subsidiary Guarantee. 
  

			
	ACIN LLC
	Deepwater Transportation, LLC
	Gatling Mineral, LLC
	HOD LLC
	Independence Land Company, LLC
	Little River Transport LLC
	Rivervista Mining, LLC
	Shepard Boone Coal Company LLC
	WBRD LLC
	Williamson Transport LLC
	WPP LLC
	NRP Trona LLC
		
	By:		NRP (Operating) LLC, as the Sole Member
			of each of the above named Subsidiary
			Guarantors
		
	By:		 /s/ Craig W. Nunez

	Name:		Craig W. Nunez
			Title: Chief Financial Officer and Treasurer
	
	Winn Marine, LLC
	McIntosh Construction Company, LLC
	Southern Aggregates, LLC
	Winn Materials of Kentucky LLC
	Laurel Aggregates of Delaware, LLC
	Utica Resources LLC
	Laurel Aggregates Terminal Services of Delaware,
	    LLC
	Laurel Aggregates of PA, LLC
	Winn Materials, LLC
	McAsphalt, LLC
	By:		VantaCore Partners LLC, as the Sole Member of each of the above named Subsidiary Guarantors
		
	By:		 /s/ Craig W. Nunez

	Name:		Craig W. Nunez
			Title: Chief Financial Officer and Treasurer

  
 [Signature Page to Third
Amendment (NRP (Operating) Note Agreements)] 

			
	NRP (Operating) LLC		Third Amendment

  

 
			
	VantaCore Partners LLC
		
	By:		 /s/ Craig W. Nunez

	Name:		Craig W. Nunez
	Title:		Chief Financial Officer and Treasurer

  
 [Signature Page to Third
Amendment (NRP (Operating) Note Agreements)] 

			
	NRP (Operating) LLC		Third Amendment

  

 Accepted as of the date aforesaid: 

AMERICAN GENERAL LIFE INSURANCE COMPANY 
 THE VARIABLE ANNUITY
LIFE INSURANCE COMPANY 
 THE UNITED STATES LIFE INSURANCE COMPANY IN 

    THE CITY OF NEW YORK 
  

					
	By:		AIG Asset Management (U.S.), LLC, as Investment Adviser
			
			By:		 /s/ David C. Patch

			Name:		David C. Patch
			Title:		Managing Director

  
 [Signature Page to Third
Amendment (NRP (Operating) Note Agreements)] 

			
	NRP (Operating) LLC		Third Amendment

  

 Accepted as of the date aforesaid: 

THE PRUDENTIAL INSURANCE COMPANY OF AMERICA 
  

			
	By:		 /s/ Brien Davis

	Name:		Brien Davis
	Title:		Vice President

 THE GIBRALTAR LIFE INSURANCE CO., LTD. 
  

					
	By:		Prudential Investment Management Japan
			Co., Ltd., as Investment Manager
		
	By:		Prudential Investment Management, Inc.,
			as Sub-Adviser
			
			By:		 /s/ Brien Davis

			Name:		Brien Davis
			Title:		Vice President

 PRUDENTIAL ARIZONA REINSURANCE CAPTIVE COMPANY 

					
	By:		Prudential Investment Management, Inc.,
			as investment manager
			
			By:		 /s/ Brien Davis

			Name:		Brien Davis
			Title:		Vice President

 PRUDENTIAL RETIREMENT INSURANCE AND ANNUITY 

COMPANY 

					
	By:		Prudential Investment Management, Inc.,
			as investment manager
			
			By:		 /s/ Brien Davis

			Name:		Brien Davis
			Title:		Vice President

  
 [Signature Page to Third
Amendment (NRP (Operating) Note Agreements)] 

			
	NRP (Operating) LLC		Third Amendment

  

 UNIVERSAL PRUDENTIAL ARIZONA REINSURANCE COMPANY 

					
	By:		Prudential Investment Management, Inc.,
			as investment manager
			
			By:		 /s/ Brien Davis

			Name:		Brien Davis
			Title:		Vice President

 PRUCO LIFE INSURANCE COMPANY 
  

			
	By:		 /s/ Brien Davis

	Name:		Brien Davis
	Title:		Assistant Vice President

 FARMERS NEW WORLD LIFE INSURANCE COMPANY 

					
	By:		 Prudential Private Placement Investors, L.P.

(as Investment Advisor)

	By:		 Prudential Private Placement Investors, Inc.

(as its General Partner)

			
			By:		 /s/ Brien Davis

			Name:		Brien Davis
			Title:		Vice President

 PHYSICIANS MUTUAL INSURANCE COMPANY 

					
	By:		 Prudential Private Placement Investors, L.P.

(as Investment Advisor)

	By:		 Prudential Private Placement Investors, Inc.

(as its General Partner)

			
			By:		 /s/ Brien Davis

			Name:		Brien Davis
			Title:		Vice President

 PRUDENTIAL RETIREMENT GUARANTEED COST BUSINESS TRUST 

					
	By:		 Prudential Investment Management, Inc.

as investment manager

	By:				
			
			By:		 /s/ Brien Davis

			Name:		Brien Davis
			Title:		Vice President

  
 [Signature Page to Third
Amendment (NRP (Operating) Note Agreements)] 

			
	NRP (Operating) LLC		Third Amendment

  

 THE LINCOLN NATIONAL LIFE INSURANCE COMPANY 

					
	By:		Delaware Investment Advisers, a series of Delaware
			Management Business Trust, Attorney in Fact
			
			By:		 /s/ Nicole Tullo

			Name:		Nicole Tullo
			Title:		Vice President

 LINCOLN LIFE & ANNUITY COMPANY OF NEW YORK 

					
	By:		Delaware Investment Advisers, a series of Delaware Management Business Trust, Attorney in Fact
			
			By:		 /s/ Nicole Tullo

			Name:		Nicole Tullo
			Title:		Vice President

  
 [Signature Page to Third
Amendment (NRP (Operating) Note Agreements)] 

			
	NRP (Operating) LLC		Third Amendment

  

 NEW YORK LIFE INSURANCE COMPANY 
  

			
	By:		 /s/ R. Edward Ferguson

	Name:		R. Edward Ferguson
	Title:		Vice President

 NEW YORK LIFE INSURANCE AND ANNUITY CORPORATION 

					
	By:		NYL Investors LLC, its Investment Manager
			
			By:		 /s/ R. Edward Ferguson

			Name:		R. Edward Ferguson
			Title:		Managing Director

 NEW YORK LIFE INSURANCE AND ANNUITY CORPORATION 

INSTITUTIONALLY OWNED LIFE INSURANCE SEPARATE 
 ACCOUNT (BOLI 30C)

					
	By:		NYL Investors LLC, its Investment Manager
			
			By:		 /s/ R. Edward Ferguson

			Name:		R. Edward Ferguson
			Title:		Managing Director

 NEW YORK LIFE INSURANCE AND ANNUITY CORPORATION 

INSTITUTIONALLY OWNED LIFE INSURANCE SEPARATE 
 ACCOUNT (BOLI 3)

					
	By:		NYL Investors LLC, its Investment Manager
			
			By:		 /s/ R. Edward Ferguson

			Name:		R. Edward Ferguson
			Title:		Managing Director

  
 [Signature Page to Third
Amendment (NRP (Operating) Note Agreements)] 

			
	NRP (Operating) LLC		Third Amendment

  

 NEW YORK LIFE INSURANCE AND ANNUITY CORPORATION 

INSTITUTIONALLY OWNED LIFE INSURANCE SEPARATE 
 ACCOUNT (BOLI 30E)

					
	By:		NYL Investors LLC, its Investment Manager
			
			By:		 /s/ R. Edward Ferguson

			Name:		R. Edward Ferguson
			Title:		Managing Director

 NEW YORK LIFE INSURANCE AND ANNUITY CORPORATION 

INSTITUTIONALLY OWNED LIFE INSURANCE SEPARATE 
 ACCOUNT (BOLI 3-2)

					
	By:		NYL Investors LLC, its Investment Manager
			
			By:		 /s/ R. Edward Ferguson

			Name:		R. Edward Ferguson
			Title:		Managing Director

  
 [Signature Page to Third
Amendment (NRP (Operating) Note Agreements)] 

			
	NRP (Operating) LLC		Third Amendment

  

 JOHN HANCOCK LIFE INSURANCE COMPANY (U.S.A.) 

 

			
	By:		 /s/ Stacey P. Agretelis

	Name:		Stacey P. Agretelis
	Title:		Managing Director

 JOHN HANCOCK LIFE & HEALTH INSURANCE 
  

			
	By:		 /s/ Stacey P. Agretelis

	Name:		Stacey P. Agretelis
	Title:		Managing Director

 JOHN HANCOCK LIFE INSURANCE COMPANY 

OF NEW YORK 
  

			
	By:		 /s/ Stacey P. Agretelis

	Name:		Stacey P. Agretelis
	Title:		Managing Director

  
 [Signature Page to Third
Amendment (NRP (Operating) Note Agreements)] 

			
	NRP (Operating) LLC		Third Amendment

  

 JPMORGAN CHASE BANK, NOT INDIVIDUALLY BUT 

SOLELY IN ITS CAPACITY AS DIRECTED TRUSTEE 
 FOR THE SBC MASTER
PENSION TRUST 
  

			
	By:		 /s/ Jacqueline M. Savage

	Name:		Jacqueline M. Savage
	Title:		Attorney-in-Fact

  
 [Signature Page to Third
Amendment (NRP (Operating) Note Agreements)] 

			
	NRP (Operating) LLC		Third Amendment

  

 MASSACHUSETTS MUTUAL LIFE INSURANCE COMPANY 

					
	By:		Babson Capital Management LLC
			as Investment Adviser
			
			By:		 /s/ John B. Wheeler

			Name:		John B. Wheeler
			Title:		Managing Director

 C.M. LIFE INSURANCE COMPANY 

					
	By:		Babson Capital Management LLC
			as Investment Adviser
			
			By:		 /s/ John B. Wheeler

			Name:		John B. Wheeler
			Title:		Managing Director

 MASSMUTUAL ASIA LIMITED 

					
	By:		Babson Capital Management LLC
			as Investment Adviser
			
			By:		 /s/ John B. Wheeler

			Name:		John B. Wheeler
			Title:		Managing Director

  
 [Signature Page to Third
Amendment (NRP (Operating) Note Agreements)] 

			
	NRP (Operating) LLC		Third Amendment

  

 CONNECTICUT GENERAL LIFE INSURANCE COMPANY 

					
	By:		CIGNA Investments, Inc. (authorized agent)
			
			By:		 /s/ Leonard Mazlish

			Name:		Leonard Mazlish
			Title:		Managing Director

 LIFE INSURANCE COMPANY OF NORTH AMERICA 

					
	By:		CIGNA Investments, Inc. (authorized agent)
			
			By:		 /s/ Leonard Mazlish

			Name:		Leonard Mazlish
			Title:		Managing Director

 CIGNA HEALTH AND LIFE INSURANCE COMPANY 

					
	By:		CIGNA Investments, Inc. (authorized agent)
			
			By:		 /s/ Leonard Mazlish

			Name:		Leonard Mazlish
			Title:		Managing Director

 HEALTHSPRING LIFE & HEALTH INSURANCE COMPANY, INC. 

					
	By:		CIGNA Investments, Inc. (authorized agent)
			
			By:		 /s/ Leonard Mazlish

			Name:		Leonard Mazlish
			Title:		Managing Director

 HEALTHSPRING OF TENNESSEE, INC. 

					
	By:		CIGNA Investments, Inc. (authorized agent)
			
			By:		 /s/ Leonard Mazlish

			Name:		Leonard Mazlish
			Title:		Managing Director

  
 [Signature Page to Third
Amendment (NRP (Operating) Note Agreements)] 

			
	NRP (Operating) LLC		Third Amendment

  

 BRAVO HEALTH PENNSYLVANIA, INC. 

					
	By:		CIGNA Investments, Inc. (authorized agent)
			
			By:		 /s/ Leonard Mazlish

			Name:		Leonard Mazlish
			Title:		Managing Director

  
 [Signature Page to Third
Amendment (NRP (Operating) Note Agreements)] 

			
	NRP (Operating) LLC		Third Amendment

  

 ATHENE ANNUITY AND LIFE COMPANY 

					
	By:		Athene Asset Management, L.P., its investment adviser
	By:		AAM GP Ltd., its general partner
			
			By:		 /s/ Roger D. Fors

			Name:		Roger D. Fors
			Title:		Senior Vice President, Fixed Income

 ROYAL NEIGHBORS OF AMERICA 

					
	By:		Athene Asset Management, L.P., its investment adviser
	By:		AAM GP Ltd., its general partner
			
			By:		 /s/ Roger D. Fors

			Name:		Roger D. Fors
			Title:		Senior Vice President, Fixed Income

  
 [Signature Page to Third
Amendment (NRP (Operating) Note Agreements)] 

			
	NRP (Operating) LLC		Third Amendment

  

 UNITED OF OMAHA LIFE INSURANCE COMPANY 

 

			
	By:		 /s/ Justin P. Kavan

	Name:		Justin P. Kavan
	Title:		Vice President

 MUTUAL OF OMAHA INSURANCE COMPANY 
  

			
	By:		 /s/ Justin P. Kavan

	Name:		Justin P. Kavan
	Title:		Vice President

 COMPANION LIFE INSURANCE COMPANY 
  

			
	By:		 /s/ Justin P. Kavan

	Name:		Justin P. Kavan
	Title:		An Authorized Signer

  
 [Signature Page to Third
Amendment (NRP (Operating) Note Agreements)] 

			
	NRP (Operating) LLC		Third Amendment

  

 THE NORTHWESTERN MUTUAL LIFE INSURANCE 

COMPANY 
  

			
	By:		 /s/ Howard Stern

	Name:		Howard Stern
	Title:		Its Authorized Representative

  
 [Signature Page to Third
Amendment (NRP (Operating) Note Agreements)] 

			
	NRP (Operating) LLC		Third Amendment

  

 THE GUARDIAN LIFE INSURANCE COMPANY OF 

AMERICA 
  

			
	By:		 /s/ Brian Keating

	Name:		Brian Keating
	Title:		Managing Director

  
 [Signature Page to Third
Amendment (NRP (Operating) Note Agreements)] 

			
	NRP (Operating) LLC		Third Amendment

  

 SUN LIFE ASSURANCE COMPANY OF CANADA 

(acting through its US Branch) 
  

			
	By:		 /s/ Deborah J. Foss

	Name:		Deborah J. Foss
	Title:		Managing Director, Head of Private Debt
			Private Fixed Income

  

			
	By:		 /s/ Ann C. King

	Name:		Ann C. King
	Title:		Assistant Vice President and
			Senior Counsel

 SUN LIFE ASSURANCE COMPANY OF CANADA 

(acting through its Bermuda Branch) 
  

			
	By:		 /s/ Paul C. Sinclair

	Name:		Paul C. Sinclair
	Title:		Senior Managing Director
			Head of Private Debt
			Private Fixed Income

  

			
	By:		 /s/ Greg Sooley

	Name:		Greg Sooley
	Title:		Managing Director
			Project Finance
			Private Fixed Income

  
 [Signature Page to Third
Amendment (NRP (Operating) Note Agreements)] 

			
	NRP (Operating) LLC		Third Amendment

  

 PROTECTIVE LIFE INSURANCE COMPANY 
  

			
	By:		 /s/ Philip E. Passafiume

	Name:		Philip E. Passafiume
	Title:		Director, Fixed Income

  
 [Signature Page to Third
Amendment (NRP (Operating) Note Agreements)] 

			
	NRP (Operating) LLC		Third Amendment

  

 TEACHERS INSURANCE AND ANNUITY ASSOCIATION 

OF AMERICA 
  

			
	By:		 /s/ Shaul Vichness

	Name:		Shaul Vichness
	Title:		Senior Director

  
 [Signature Page to Third
Amendment (NRP (Operating) Note Agreements)] 

			
	NRP (Operating) LLC		Third Amendment

  

 PACIFIC LIFE INSURANCE COMPANY 
  

			
	By:		 /s/ Matthew A. Levene

	Name:		Matthew A. Levene
	Title:		AVP, Credit Analysis

  

			
	By:		 /s/ Peter S. Fiek

	Name:		Peter S. Fiek
	Title:		Assistant Secretary

  
 [Signature Page to Third
Amendment (NRP (Operating) Note Agreements)] 

			
	NRP (Operating) LLC		Third Amendment

  

 STATE OF WISCONSIN INVESTMENT BOARD 

 

			
	By:		 /s/ Christopher P. Prestigiacomo

	Name:		Christopher P. Prestigiacomo
	Title:		Portfolio Manager

  
 [Signature Page to Third
Amendment (NRP (Operating) Note Agreements)] 

			
	NRP (Operating) LLC		Third Amendment

  

 PHOENIX LIFE INSURANCE COMPANY 
  

			
	By:		 /s/ Christopher M. Wilkos

	Name:		Christopher M. Wilkos
	Title:		Executive Vice President

 PHL VARIABLE INSURANCE COMPANY 
  

			
	By:		 /s/ Christopher M. Wilkos

	Name:		Christopher M. Wilkos
	Title:		Executive Vice President

  
 [Signature Page to Third
Amendment (NRP (Operating) Note Agreements)] 

			
	NRP (Operating) LLC		Third Amendment

  

 WESTERN-SOUTHERN LIFE ASSURANCE COMPANY 

 

			
	By:		 /s/ James J. Vance

	Name:		James J. Vance
	Title:		Vice President
		
	By:		 /s/ Jeffrey L. Stainton

	Name:		Jeffrey L. Stainton
	Title:		Vice President

 NATIONAL INTEGRITY LIFE INSURANCE COMPANY 
  

			
	By:		 /s/ James J. Vance

	Name:		James J. Vance
	Title:		Vice President
		
	By:		 /s/ Kevin L. Howard

	Name:		Kevin L. Howard
	Title:		Senior Vice President

 THE LAFAYETTE LIFE INSURANCE COMPANY 
  

			
	By:		 /s/ James J. Vance

	Name:		James J. Vance
	Title:		Vice President
		
	By:		 /s/ Kevin L. Howard

	Name:		Kevin L. Howard
	Title:		Vice President

  
 [Signature Page to Third
Amendment (NRP (Operating) Note Agreements)] 

			
	NRP (Operating) LLC		Third Amendment

  

 AMERICAN EQUITY INVESTMENT LIFE INSURANCE 

COMPANY 
  

			
	By:		 /s/ Jeffrey A. Fossell

	Name:		Jeffrey A. Fossell
	Title:		Authorized Signatory

  
 [Signature Page to Third
Amendment (NRP (Operating) Note Agreements)] 

			
	NRP (Operating) LLC		Third Amendment

  

 THE OHIO NATIONAL LIFE INSURANCE COMPANY 

 

			
	By:		 /s/ Annette M. Teders

	Name:		Annette M. Teders
	Title:		Vice President

 OHIO NATIONAL LIFE ASSURANCE CORPORATION 
  

			
	By:		 /s/ Annette M. Teders

	Name:		Annette M. Teders
	Title:		Vice President

  
 [Signature Page to Third
Amendment (NRP (Operating) Note Agreements)] 

			
	NRP (Operating) LLC		Third Amendment

  

 AMERICAN HEALTH AND LIFE INSURANCE COMPANY 

SENIOR HEALTH INSURANCE COMPANY OF PENNSYLVANIA 
 PRIMERICA LIFE
INSURANCE COMPANY 

			
	By:     Conning, Inc., as Investment Manager
		
	           By:		 /s/ Samuel Otchere

	           Name:		Samuel Otchere
	           Title:		Director

  
 [Signature Page to Third
Amendment (NRP (Operating) Note Agreements)] 

			
	NRP (Operating) LLC		Third Amendment

  

 DELAWARE LIFE INSURANCE COMPANY 

By:     Guggenheim Partners Investment Management, LLC 

			
		
	           By:		 /s/ William R. Hagner

	           Name:		William R. Hagner
	           Title:		Attorney-in-Fact

  
 [Signature Page to Third
Amendment (NRP (Operating) Note Agreements)] 

			
	NRP (Operating) LLC		Third Amendment

  

 AMERICAN UNITED LIFE INSURANCE COMPANY 

 

			
	By:		 /s/ David M. Weisenburger

	Name:		David M. Weisenburger
	Title:		VP, Fixed Income Securities

 THE STATE LIFE INSURANCE COMPANY 

					
	By:		American United Life Insurance Company
	Its:		Agent
			
			By:		 /s/ David M. Weisenburger

			Name:		David M. Weisenburger
			Title:		VP, Fixed Income Securities

 PIONEER MUTUAL LIFE INSURANCE COMPANY 

					
	By:		American United Life Insurance Company
	Its:		Agent
			
			By:		 /s/ David M. Weisenburger

			Name:		David M. Weisenburger
			Title:		VP, Fixed Income Securities

 FARM BUREAU LIFE INSURANCE COMPANY OF 

MICHIGAN 

					
	By:		American United Life Insurance Company
	Its:		Agent
			
			By:		 /s/ David M. Weisenburger

			Name:		David M. Weisenburger
			Title:		VP, Fixed Income Securities

  
 [Signature Page to Third
Amendment (NRP (Operating) Note Agreements)] 

			
	NRP (Operating) LLC		Third Amendment

  

 HOMESTEADERS LIFE COMPANY 
  

			
	By:		 /s/ Kevin L. Kubik

	Name:		Kevin L. Kubik
	Title:		Vice President-Investments
			Homesteaders Life Company

  
 [Signature Page to Third
Amendment (NRP (Operating) Note Agreements)] 

			
	NRP (Operating) LLC		Third Amendment

  

 BENEFICIAL LIFE INSURANCE COMPANY 
  

			
	By:		 /s/ David Pearce

	Name:		David Pearce
	Title:		SVP
		
	By:		 /s/ Douglas R. Hancock

	Name:		Douglas R. Hancock
	Title:		CFO

  
 [Signature Page to Third
Amendment (NRP (Operating) Note Agreements)]

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