Document:

Project Ageement

 Exhibit 10.22 
 PROJECT AGREEMENT 
 This Project Agreement (the
“Agreement”) dated, for convenience, as of the 21 day of October, 2011 (the “Effective Date”), by and between Angie’s List, Inc. (the “Company”), and the Consolidated City of Indianapolis (the “City”),
acting by and through the Department of Metropolitan Development of Marion County, Indiana (“DMD”), which is governed by the Metropolitan Development Commission (“MDC”), acting as the City’s Redevelopment Commission.

 Recitals 
 WHEREAS, the City has or can obtain moneys for the public purposes of supporting capital investment and job creation in Marion County, Indiana; 

WHEREAS, the Company has proposed the Project to accomplish such purposes, and DMD and MDC have reviewed and approved the Project for and
on behalf of the City; and 
 WHEREAS, the City is willing to provide: (a) $1,500,000 of Infrastructure Funds to fund the
Infrastructure Improvements; and (b) up to $9,600,000 to the Company to fund Eligible Costs from: (i) the TIF Funds, and (ii) the New Market Tax Credits for the Project; subject to compliance with, and satisfaction of the terms and
conditions set forth in, this Agreement. 
 Agreement 

NOW, THEREFORE, in consideration of the promises and mutual obligations and covenants of the Company and the City contained in this
Agreement, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Company and the City agree as follows: 
 ARTICLE I 
 Definitions 

“Adjusted Amount” shall have the meaning set forth in each of Subsections 6.4(a), (b), and (c), and used as provided in each
such respective Subsection. 
 “Affiliate” shall mean an entity which directly or indirectly controls, is controlled
by or is under common control with, the Company. For purposes of this provision, “control” (including the terms “controls”, “controlled by” and “under common control with”) means the possession, direct or
indirect, of the power to direct or cause the direction of the management and policies of an entity, whether through the ownership of voting securities, by contract, or other. 
 “Allocation Agreement” shall mean that certain Allocation Agreement dated as of             , 2011, by and between the Company and
                    , relating to the New Market Tax Credits. [Blanks to be completed by the parties post-execution] 

“Allocation Area” shall mean the Consolidated Redevelopment Allocation Area, which the Project will directly serve and benefit.

 “Bond Bank” shall mean The Indianapolis Local Public Improvement Bond Bank. 

“Capital Investment Compliance Percentage” shall mean the lesser of: (a) a fraction, expressed as a percentage:
(i) the numerator of which shall be the amount of Eligible Costs expended by the Company or a Company Party in the Development Area from the Commencement Date through the end of a Project Year during the Project Period; and (ii) the
denominator of which shall be the Capital Investment Target for such Project Year; or (b) 125%. 

 “Capital Investment Target” shall have the meaning set forth on
Schedule I for each Project Year. The Capital Investment Target is a target for the expenditure of Eligible Costs. It is not a commitment or representation as to assessed value of the Project or any portion thereof. Assessed value shall
be determined in accordance with Indiana law. 
 “City Papers” shall mean all the written agreements, applications,
certificates, documents, forms, instruments, statements, or other papers, made, completed, or provided by a City Party in connection with: (a) this Agreement; or (b) the Project or any portion thereof. 

“City Parties” shall mean: (a) the Consolidated City of Indianapolis, the City of Indianapolis Economic Development
Commission, MDC, and the Bond Bank; (b) the respective financial advisers of each of the foregoing; (c) the respective legal counsel of each of the foregoing; and (d) the respective successors and assigns of each of the foregoing.

 “Code” shall mean the Internal Revenue Code of 1986, as amended. 

“Commencement Date” shall mean June 1, 2011. 
 “Company Entities” shall mean the Company Parties, other than the Contractors and the Property Owners, and their subsidiaries. 

“Company Jobs” shall mean job positions certified by the Company: (a) to be situated primarily at the Project Site; and
(b) to constitute full-time or full-time equivalent positions (whether through a single employment or contractual arrangement or by the combination of employment and/or contractual arrangements) held by employees and/or independent contractors,
of one or more of the following, or who have entered a contract with one or more of the following: 
  

	 	(a)	the Company; 

  

	 	(b)	any of the Company Entities and/or third parties that lease such employees or independent contractors to the Company, or any of the Company Entities; and/or

  

	 	(c)	any of the Company Ventures, which employees and/or independent contractors are employed as a result of the Company Venture’s business relationship with the
Company; provided that employees of third parties performing work on construction or related capital expenditure projects on the Project shall not be included in the Company Jobs. 

For purposes of this “Company Jobs” definition, a “full-time” or “full-time equivalent” position is one that is permanent
in nature and accounts for substantially all the compensated working hours of the person holding such position. 
 “Company
Papers” shall mean all the written agreements, applications, certificates, documents, forms, instruments, statements, or other papers, made, completed, or provided by a Company Party in connection with: (a) this Agreement; or (b) the
Project or any portion thereof. 
 “Company Parties” shall mean: 

	 	(a)	the Affiliates, Henry Amalgamated, the Contractors, the Property Owners, developers working under contract with the Company or any Affiliate, owners of the Project or
any portion thereof, joint (or other) venturers with the Company or any Affiliate, lessees of property in the Allocation Area from the Company or any Affiliate, lessors of property in the Allocation Area to the Company or any Affiliate, and trusts
(business or other) established with, or for the benefit of, the Company, any Affiliate, or the Project or any portion thereof; and 

  

	 	(b)	their respective successors and assigns. 

 “Company Ventures” shall mean vendors or suppliers having a significant business relationship with: (a) the Company; (b) any of the Company Entities; or (c) a joint venture of any
of the Company Entities. 
 “Contractors” shall mean contractors working under contract with the Company or any
Affiliate. 
 “Declared Amount” shall have the meaning set forth in Subsection 6.3(a)(ii). 

“Deposit Amount” shall have the meaning set forth in Subsection 6.4(b)(i). 

“Deposit Request” shall have the meaning set forth in Subsection 6.4(b)(i). 

“Develop Indy” shall mean Develop Indy, Inc. 
 “Development Area” shall mean the real estate in the City bounded by East Street to the west, Maryland Street to the south, Highland Avenue to the east, and Ohio Street to the north, which real
estate includes the Project Area. 
 “Development Plan” shall mean a development plan with respect to the
Company’s expansion and development plans for the Development Area, which development plan shall address the Company’s desire to vacate Cruze Street and Cottage Avenue. 

“Disbursement” shall mean the transfer of TIF Funds to the Company or Company Party to fund Eligible Costs. 

“Disbursement Request” shall mean a request for a Disbursement by the Company to the NDC, the form of which is attached as
Schedule IV. 
 “Disputed Amount” shall have the meaning set forth in Subsection 5.1(b). 

“Disputed Expenditure” shall have the meaning set forth in Subsection 5.1(b). 

“Eligible Costs” shall mean the costs of the Project generally described on Schedule II. 

“Employment Compliance Percentage” shall mean a fraction, expressed as a percentage: (a) the numerator of which shall be
the number of Company Jobs as of the end of a Project Year; and (b) the denominator of which shall be the Employment Target for such Project Year. 
 “Employment Target” shall have the meaning set forth on Schedule I. 
 “Escrow Agent” shall mean a financial institution reasonably satisfactory to the City and the Company. 
 “Escrow Agreement” shall mean an escrow agreement by and among the City, the Company, and the Escrow Agent consistent with the terms and conditions of Subsection 6.4(e), in form and substance
reasonably satisfactory to the City, the Company, and the Escrow Agent. 

 “Escrow Funds” shall mean the meaning set forth in Subsection 6.4(e)(i).

 “Event of Default” shall have the meaning set forth in Section 6.2. 

“Force Majeure” shall mean any act of God, accident (including equipment failure, HVAC failure, or electricity outage for
extended periods of time, or destruction or damage to equipment not caused by the party relying upon such circumstance or event), explosion, fire, flood, ice, earthquake, lightning, tornado, hurricane, or other severe weather condition or calamity,
civil disturbance, labor dispute, or labor or material shortage, sabotage or act (or specific, imminent threatened act) of terrorism, act of a public enemy, uprising, insurrection, civil unrest, war, or rebellion, action or restraint by court order
or public or governmental authority or lawfully established civilian authorities, a material adverse change in the national financial economic situation in the United States, the establishment of a general banking moratorium by Federal or State of
Indiana authorities, a major financial crisis or material disruption in commercial banking or securities markets, or any other circumstance or event beyond the reasonable control of the party relying upon such circumstance or event. 

“Henry Amalgamated” shall mean Henry Amalgamated, LLC. 

“Infrastructure Funds” shall mean $1,500,000 of funds of the City or any agency or department thereof to be used by the City or
such agency or department to fund the Infrastructure Improvements. 
 “Infrastructure Improvements” shall mean
improvements to the public rights-of-way and other infrastructure in and/or around the Development Area, which improvements are more particularly described on Schedule III. 

“Initial Disbursement Date” shall mean a date during the week of October 17, 2011, that is mutually agreeable to the City
and the Company. 
 “Inspection Termination Date” shall mean December 31, 2017. 

“NDC” shall mean a neighborhood development corporation authorized to receive from the City, and disburse to the Company and/or
a Company Party, the TIF Funds, which the parties agree shall be Develop Indy. 
 “New Building” shall mean a building
in excess of 20,000 square feet constructed at the Project Site by the Company or for the Company’s use. 
 “New
Market Tax Credits” shall have the meaning set forth in the Code. 
 “New Market Tax Credit Proceeds” shall mean
the value of the New Market Tax Credits realized by the Company pursuant to this Agreement. 
 “Personal Property
Investment” shall mean a capital investment of at least $5,000,000 of personal property, the nature of which personal property is described on Schedule II. 
 “Project” shall mean the Real Property Improvements and Personal Property Investment made by the Company or the Company Parties in, at, or about the Project Site. 

“Project Compliance Percentage” means a percentage to be calculated by the Company and submitted to the DMD by April 30,
2014 for the first Project Year and on each April 30 thereafter for each subsequent Project Year, which shall be equal to the sum of: (a) the Capital Investment Compliance Percentage multiplied by 25%; plus (b) the Employment
Compliance Percentage multiplied by 50%; plus (c) the Wage Compliance Percentage multiplied by 25%. 

 “Project Expenditure Date” shall mean the earlier of: (a) the date on which
all the TIF Funds have been expended on Eligible Costs; or (b) the Project Expenditure Deadline. 
 “Project
Expenditure Deadline” shall mean December 31, 2016. 
 “Project Funds” shall mean the sum of: (a) the
TIF Funds disbursed to, or realized by, the Company pursuant to this Agreement and not previously reimbursed by the Company to DMD; plus (b) 50% of the New Market Tax Credit Proceeds. 

“Project Period” shall mean the period beginning on the Commencement Date and ending on the Project Target Termination Date.

 “Project Schedule” shall mean the schedule of the Capital Investment Targets set forth on Schedule I.

 “Project Site” shall mean the Company’s and the Company Parties’ real property within the Development
Area from time to time, whether acquired by purchase, lease, contract, or otherwise. 
 “Project Target Satisfaction
Amount” means an amount equal to: (a) in the case of the first Project Year, 50% of the Project Funds multiplied by the difference between: (i) 100%; and (ii) the Project Compliance Percentage for such Project Year; or
(b) in the case of all other Project Years, 100% of the Project Funds multiplied by the difference between: (i) 100%; and (ii) the Project Compliance Percentage for such Project Year. 

“Project Target Termination Date” shall mean December 31, 2016. 

“Project Targets” shall mean the Capital Investment Target, the Employment Target, and the Wage Target. 

“Project Year” shall mean each of the four calendar years commencing with the calendar year ending on December 31, 2013,
through the Project Target Termination Date. 
 “Property Owners” shall mean owners of any property being acquired for
the Project, other than Henry Amalgamated. 
 “Real Property Improvements” shall mean a capital investment in real
property at the Project Site of: (a) $6,500,000, in the event the Company elects to construct, or cause to be constructed, the New Building during the Project Period; or (b) $3,500,000, in the event the Company elects not to construct, or
cause to be constructed, the New Building during the Project Period. 
 “Recitals” shall mean the recitals on the
first page of this Agreement. 
 “Reimbursement Obligations” shall have the meaning set forth in Section 6.4.

 “Term” shall have the meaning set forth in Section 2.5. 

“TIF Funds” shall mean $4,600,000 of tax increment on hand from the Allocation Area; provided that, if the City fails to
allocate the New Market Tax Credits to the Company in accordance with this Agreement, then the amount of the TIF Funds shall be increased to $5,600,000. 
 “Wage Compliance Percentage” shall mean a fraction, expressed as a percentage: (a) the numerator of which shall be the average hourly wage, exclusive of benefits, of the Company Jobs
included in the calculation of the Employment Compliance Percentage for a given Project Year; and (b) the denominator of which shall be the Wage Target. 

 “Wage Target” shall mean, for a given Project Year, an average hourly wage,
exclusive of benefits, of $27.00 for the Company Jobs included in the calculation of the Employment Compliance Percentage for such Project Year. 
 ARTICLE II 
 Funding and Project 

Section 2.1 TIF Funds. The City shall: (a) disburse the TIF Funds to the NDC in a single payment; and
(b) cause the NDC to disburse the TIF Funds to the Company or a Company Party; in accordance with the terms and conditions of this Agreement to fund Eligible Costs. 
 Section 2.2 New Market Tax Credits. The City shall work, or cause the applicable City Parties to work, with the Company, including, without limitation, entering into the Allocation
Agreement, to qualify for up to $5,000,000 of New Market Tax Credits for the Project on account of the Company’s qualified Real Property Improvements, as determined under the Code, during the Capital Investment Period. 

Section 2.3 Project Schedule. The Company reasonably expects to complete, or cause to be completed, the Project in
accordance with the Project Schedule, subject to extension by agreement of the Company and the City in a writing signed by duly authorized representatives of each such party. The Company reasonably expects to expend, or caused to be expended, all
the TIF Funds by the Project Expenditure Deadline. The City shall certify completion of the Project in a writing: (a) signed by a duly authorized representative of the Company; and (b) delivered to the City. The Company’s violation of
this Section or any provision of this Section shall not give rise to an Event of Default. 
 Section 2.4
Development. The City and the Company shall work together and with third parties to enable the Company to develop the Project Site, including, without limitation, joint development of the Development Plan. 

Section 2.5 Term of Agreement. The “Term” of this Agreement shall: (a) be effective as of the date set
forth in the first paragraph of this Agreement; and (b) terminate on the one year anniversary of the Project Target Termination Date, unless earlier terminated pursuant to Article VI. 

Section 2.6 Disbursements. Subject to Article III: 

 

	 	(a)	The NDC shall disburse the TIF Funds as provided in Subsection 2.6(b), as requested by the Company, upon the filing by the Company of one or more Disbursement Requests
approved in writing by the City. The City shall use commercially reasonable efforts to review, approve, and cause the NDC to fund each Disbursement Request within 15 days after delivery by the Company. 

 

	 	(b)	The Company expects to submit Disbursement Requests: (i) on the Initial Disbursement Date, in which instance the Company shall be eligible to receive 50% of TIF
Funds; and (ii) when the Company has expended, or caused to be expended, an amount equal to 50% of TIF Funds on Eligible Costs, as certified by the Company, in which instance the Company shall be eligible to receive the remaining 50% of TIF
Funds. 

  

	 	(c)	The Company shall submit with each Disbursement Request: (i) the City’s countersignature approving such Disbursement Request; and (iii) such other
information as may reasonably be requested by the City. The Company or its lender may redact from information submitted to the City and the NDC any information the Company or its lender reasonably determines to be confidential.

 Section 2.7 Commitments. The City hereby commits, or shall cause the applicable City Party
to commit, to each of the following: 

	 	(a)	constructing the Infrastructure Improvements with the Infrastructure Funds within the time periods described on Schedule III; 

 

	 	(b)	coordinating with the Company to reduce the number of crime and panhandling incidents in and around the Project Site; 

 

	 	(c)	providing a single contact person at DMD in order to expedite DMD’s responses to the Company’s needs; 

 

	 	(d)	coordinating with the Company to develop a master zoning area that reflects the actual use of the Project Site; 

 

	 	(e)	providing a single contact person to assist the Company with the Company’s permitting and code-enforcement needs; and 

 

	 	(f)	providing assistance to the Company to identify, recruit, and assess potential employees. 

ARTICLE III 

Conditions Precedent 
 Section 3.1 City. The City shall be under no obligation to approve a Disbursement Request unless the following conditions precedent have been fulfilled: 

 

	 	(a)	The TIF Funds shall be used solely to fund or reimburse Eligible Costs as determined and approved by the City; 

 

	 	(b)	The representations and warranties of the Company contained in Article IV continue to be true, complete, and accurate in all material respects as of the date of the
Disbursement Request; 

  

	 	(c)	The Company has carried out in all material respects its obligations under this Agreement and is in compliance in all material respects with the covenants specified in
Article V, to the extent that such obligations and covenants are required to have been carried out or are applicable as of the date of the Disbursement Request; 

 

	 	(d)	No act, event, occurrence, or circumstance that constitutes an Event of Default, or that, with the passage of time or giving of notice or both, would constitute an
Event of Default, has occurred and is continuing; and 

  

	 	(e)	Disbursements previously funded, if any, have been used solely to fund or reimburse Eligible Costs. 

Section 3.2 Company. The obligations of the Company to perform its covenants and agreements under this Agreement shall
be subject to the satisfaction of the following conditions precedent: 
  

	 	(a)	The representations and warranties of the City contained in Article IV continue to be true, complete, and accurate in all material respects; 

 

	 	(b)	The City has carried out in all material respects its obligations under this Agreement, including funding the Infrastructure Improvements, and is in compliance in all
material respects with the covenants specified in Article V, to the extent such obligations and covenants are required to have been carried out or are applicable as of the date of the Disbursement Request; and 

	 	(c)	The TIF Funds shall be available to be disbursed to the Company on the Initial Disbursement Date. 

ARTICLE IV 

Representations and Warranties 
 Section 4.1 Company. The Company represents and warrants, as of the date of this Agreement, that: 
  

	 	(a)	Authority. Subject to the further provisions of this Agreement, the Company has: (i) the requisite power, right, and legal authority to execute, deliver,
perform, and observe its obligations under this Agreement; and (ii) taken all action necessary to authorize the execution, delivery, performance, and observance of its obligations under this Agreement. This Agreement, when executed and
delivered by duly authorized representatives of the Company and the City, shall constitute the legal, valid, and binding obligation of the Company, enforceable against the Company in accordance with its terms, except as may be limited by bankruptcy,
insolvency, or similar laws affecting creditors’ rights generally and by general principles of equity. 

  

	 	(b)	Capability. The Company has the requisite capacity and capability to administer and complete the Project, or to cause it to be administered and completed.

  

	 	(c)	Religious Activity. The Company shall not use TIF Funds for religious activities or permit TIF Funds to be so used. 

 

	 	(d)	Political Activity. The Company shall not use TIF Funds for political activities or permit TIF Funds to be so used. 

Section 4.2 City. Subject to the further provisions of this Agreement, the City represents and warrants, as of the
date of this Agreement, that: (a) the City has the requisite power, right, and legal authority to execute, deliver, perform, and observe its obligations under this Agreement and has taken all action necessary to authorize the execution,
delivery, performance, and observance of its obligations under this Agreement; and (b) this Agreement, when executed and delivered by duly authorized representatives of the Company and the City, shall constitute the legal, valid, and binding
obligation of the City, enforceable against the City in accordance with its terms, except as may be limited by bankruptcy, insolvency, or similar laws affecting creditors’ rights generally and by general principles of equity. 

ARTICLE V 

Covenants 

Section 5.1 Company. The Company covenants and agrees, as follows: 

 

	 	(a)	Compliance with Laws. Through the Project Expenditure Date, the Company shall comply in all material respects, and shall cooperate with the City to enable the
City to comply in all material respects, with statutes, regulations, and rules applicable to the Project, including, without limitation, the Federal Civil Rights Act of 1964 and, if applicable, the Drug-Free Workplace Act of 1988.

  

	 	(b)	 Use of Funds. The Company shall use, or cause to be used, TIF Funds to fund Eligible Costs approved by the City. If the City determines that the
Company used, or caused to be used, TIF Funds to fund something other than Eligible Cost (a “Disputed Expenditure”), then: (i) the provisions of Section 6.4 shall apply; and (ii) such Disputed Expenditure is not, and shall
not result in, an Event of Default. The City shall: (i) make 

	 	
any such determination within 150 days after the submission of the Disbursement Request giving rise to the Disputed Expenditure; and (ii) give written notice of such determination to the
Company within 30 days after such determination, which written notice shall include detailed information about the Disputed Expenditure and the amount thereof (the “Disputed Amount”). Representatives of the City and the Company shall meet
in person to review and discuss such determination and Disputed Amount within 30 days after the date of such written notice to the Company. 

  

	 	(c)	Project Targets. 

  

	 	(i)	The Company shall meet, or cause to be met: (A) the Capital Investment Targets; (B) the Employment Target; and (C) the Wage Target; in each case on or
before the Project Target Termination Date. If the Company fails to meet one or more of the Project Targets, then: (A) the provisions of Section 6.4 shall apply; and (B) such failure is not, and shall not result in, an Event of
Default. 

  

	 	(ii)	On or before: (A) April 30, 2014; and (B) each April 30 thereafter during the Term; the Company, at its cost, shall provide to the City a report of
the Company’s investment during the Project Period; provided that the Company shall be required to provide only one such report after the Capital Investment Target is met. Such report shall: (A) include a calculation of the Capital
Investment Compliance Percentage for the applicable Project Year; and (B) include reasonable supporting information so as to substantiate such report. If the City disputes such calculation, then the City shall give written notice of such
dispute to the Company within 30 days after the City’s determination. Such written notice shall: (A) detail the basis for such dispute; and (B) if available, include the City’s own calculation of the Capital Investment Compliance
Percentage. Representatives of the City and the Company shall meet in person to review and discuss such dispute and related calculation(s) within 30 days after the date of such written notice to the Company. 

 

	 	(iii)	On or before: (A) April 30, 2014; and (B) each April 30 thereafter during the Term; the Company, at its cost, shall provide to the City a report as
to the Company’s employment during the immediately preceding Project Year. Each such report shall: (A) include a calculation of the Employment Compliance Percentage for the applicable Project Year; and (B) reasonable supporting
information so as to substantiate such report. If the City disputes such calculation, then the City shall give written notice of such dispute to the Company within 30 days after the City’s determination. Such written notice shall:
(A) detail the basis for such dispute; and (B) if available, include the City’s own calculation of the Employment Compliance Percentage. Representatives of the City and the Company shall meet in person to review and discuss such
dispute and related calculation(s) within 30 days after the date of such written notice to the Company. 

  

	 	(iv)	On or before: (A) April 30, 2014; and (B) each April 30 thereafter during the Term; the Company, at its cost, shall provide to the City a report as
to the Company’s wages during the immediately preceding Project Year. Each such report shall: (A) include a calculation of the Wage Compliance Percentage for the applicable Project Year; and (B) reasonable supporting information so as
to substantiate such report. If the City disputes such calculation, then the City shall give written notice of such dispute to the Company within 30 days after the City’s determination. Such written notice shall: (A) detail the basis for
such dispute; and (B) if available, include the City’s own calculation of the Wage Compliance Percentage. Representatives of the City and the Company shall meet in person to review and discuss such dispute and related calculation(s) within
30 days after the date of such written notice to the Company. 

	 	(d)	Records. Through the Inspection Termination Date, the Company shall keep and maintain complete and accurate records and supporting documents relating to the
receipt and expenditure of TIF Funds. 

  

	 	(e)	Inspection of Records. Any duly authorized representative of the City, during regular business hours of the Company and upon not less than ten days’ prior
written notice to the Company, may access and examine the records and supporting documents required to be kept and maintained under Subsection 5.1(d); provided that such access shall not be given more than four times during any calendar year. The
City’s rights to access and examine such records shall terminate on the Inspection Termination Date. Prior to such termination, the Company shall cooperate reasonably with the City in connection with any such access and examination. Any
examination shall be at the City’s expense. 

  

	 	(f)	Inspection of Project. Any duly authorized representative of the City, during regular business hours of the Company and upon not less than ten calendar
days’ written notice to the Company, may access and inspect the Project; provided that such access shall not be given more than four times during any calendar year. The City’s rights to access and inspect the Project shall terminate on the
Inspection Termination Date. Prior to such termination, the Company shall cooperate reasonably with the City in connection with any such access and inspection. Any inspection shall be at the City’s expense. 

 

	 	(g)	Nondiscrimination. Prior to the Project Target Termination Date, the Company, the Company Parties, and their respective officers, agents, and employees shall not
discriminate against any employee or applicant for employment to be employed in the performance of this Agreement, with respect to hire, tenure, terms, conditions, or privileges of employment, on the basis of race, sex, sexual orientation, gender
identity, religion, color, national origin, ancestry, age, disability, or United States military service or veteran status. Breach of this Subsection shall be regarded as a material breach of this Agreement. 

 

	 	(h)	Contractor Enterprises. The Company and/or the Company Parties, in connection with all construction performed by it and/or them with TIF Funds pursuant to this
Agreement, shall use good faith and commercially reasonable efforts to meet the following minority business enterprise, women business enterprise, and military veteran business enterprise participation and work force utilization goals:

  

	 	(i)	15% minority business enterprise owned and work force utilization participation; 

 

	 	(ii)	8% women business enterprise owned and work force utilization participation; and 

 

	 	(iii)	3% military veteran business enterprise owned and work force utilization participation; 

 

	 	    	in each case, as certified by the City’s Department of Minority & Women Business Development. The Company shall provide to the City, or any department or
agency designated by the City, quarterly written reports describing the extent to which the Company and/or the Company Parties have realized the foregoing goals; provided that the Company shall not be required to provide such reports for any period
after December 31, 2013, if the Company has: (i) expended all TIF Funds on Eligible Costs; and (ii) provided a final report thereon. 

 Section 5.2 City. 
  

	 	(a)	The City covenants and agrees to: (i) take, or cause to be taken (and cooperate with the Company to enable the Company to take, or cause to be taken), all
commercially reasonable actions necessary or desirable under statutes, regulations, and rules applicable to the Project, including funding the Infrastructure Improvements; and (ii) execute and deliver, or cause to be executed and delivered (and
cooperate with the Company to enable the Company to execute and deliver, or cause to be executed and delivered), all commercially reasonable City Papers, Company Papers, and other papers, each in form and substance reasonably satisfactory to the
City, as may be necessary or desirable under such statutes, regulations, and rules to assist and permit the Company to undertake and complete the Project, make Disbursement Requests, receive TIF Funds, and obtain the New Market Tax Credits for the
Project. 

  

	 	(b)	The City covenants and agrees that the Company and the Company Parties shall not be liable for, or with respect to, the Infrastructure Improvements.

 ARTICLE VI 
 Default 
 Section 6.1 Performance Monitoring. As
contemplated by Subsections 5.1(d)-(f), the City may monitor the Company’s performance with respect to capital investment and employment under this Agreement. Subject to Schedule I, such monitoring with respect to capital investment
shall terminate after compliance with all terms and conditions of Subsection 5.1(c)(i). 

 Section 6.2 Events of Default. Each of the following shall constitute an
“Event of Default” on the part of the Company: 
  

	 	(a)	The material inaccuracy of any representation or warranty made by the Company to the City, when made or deemed to have been made, under this Agreement; or

  

	 	(b)	The Company’s failure to fulfill any covenant of the Company pursuant to Subsection 5.1(a), (c)(ii), (c)(iii), (c)(iv), (e), (f), (g) or (h) and such failure shall
remain uncured for a period of 30 days after the City gives written notice of such failure to the Company; provided that the City and the Company hereby acknowledge and agree that the Company’s failure to fulfill a covenant of the Company
pursuant to Subsection 5.1(b) or 5.1(c)(i) shall not result be an “Event of Default”, but may result in a Reimbursement Obligation under Section 6.4. 

Section 6.3 Remedies. 
  

	 	(a)	Upon the occurrence of an Event of Default, the City may: 

  

	 	(i)	suspend or terminate the City’s and/or the NDC’s obligation, if any, to fund further Disbursement Requests; 

 

	 	(ii)	subject to the Company’s rights, whether under this Agreement, at law, or in equity, to dispute, contest, or appeal any claim by the City that an Event of Default
has occurred or is occurring, declare all or any portion of the Project Funds (the “Declared Amount”) immediately due and payable. Upon such declaration, the Declared Amount shall become immediately due and payable by the Company to the
City (or the Trustee, as the case may be), subject to the Company’s rights, whether under this Agreement, at law, or in equity, to dispute, contest, or appeal such declaration and the Declared Amount; and/or 

 

	 	(iii)	institute any action, suit, or other proceeding at law, in equity, or otherwise, which the City deems necessary or appropriate for the protection of its interests;
provided that the City shall not institute any action, suit, or other proceeding at law, in equity, or otherwise, that might or would result in the Company being required to make additional investment or employ any people. 

 

	 	(b)	Notwithstanding the occurrence of an Event or Default or the exercise of any remedy under Subsection 6.3(a) or the request for payment of a Reimbursement Obligation
under Section 6.4, all Company Papers, together with any data, documents, equipment, maps, materials, models, photographs, or other information or papers (whether complete or incomplete, finished or unfinished), are and shall be the exclusive
property of the Company. 

 Section 6.4 Reimbursement. To the extent required by this Section
and the other provisions of this Agreement, the Company shall be obligated to reimburse a portion of the Project Funds (the “Reimbursement Obligations”). 
  

	 	(a)	 TIF Funds. If: (i) the City determines that the Company used, or caused to be used, TIF Funds to fund something other than Eligible Costs
in violation of Subsection 5.1(b); and (ii) the City and the Company are unable to resolve any disagreement with respect to such determination (as contemplated by Subsection 5.1(b)); then the City may deliver to the Company a written request
for reimbursement in an amount equal to: (i) the Disputed Amount; or (ii) any lesser amount agreed upon by the City and the Company (the “Adjusted Amount”); as the case may be. Subject to Subsection 6.4(c), within 30 days

	 	
after the date of delivery of such written request, the Company shall pay to the City the Disputed Amount or the Adjusted Amount, as the case may be. 

 

	 	(b)	Project Targets. 

  

	 	(i)	If: (A) the City determines that the Company failed to meet a Project Target for a Project Year; and (B) the Project Compliance Percentage for such Project
Year is less than 90%, and the City and the Company are unable to resolve any dispute with respect to the Company’s calculation (as contemplated by Subsection 5.1(c)); then the City may deliver to the Company a written request for the Company
to deposit with the Escrow Agent (the “Deposit Request”) an amount equal to the following (the “Deposit Amount”): (A) the lesser of: (1) the Project Target Satisfaction Amount; or (2) any amount agreed upon by the
City and the Company (the “Adjusted Amount”); in either case, less (B) any Escrow Funds held by the Escrow Agent as a result of any prior Deposit Requests. Subject to Subsection 6.4(c), within 30 days after the date of delivery of the
Deposit Request, the Company shall deposit the Deposit Amount with the Escrow Agent, to be held in accordance with Subsection 6.4(e). Notwithstanding anything in this Agreement to the contrary, the Company shall not be obligated to deposit:
(A) any amount if the Project Compliance Percentage for a Project Year is at least 90% and any Escrow Funds then on deposit shall be returned to the Company as provided in Subsection 6.4(e)(ii); or (B) any amount in excess of the Deposit
Amount for any failure to meet a Project Target in accordance with Subsection 5.1(c), and any Escrow Funds then on deposit in excess of the Deposit Amount shall be returned to the Company as provided in Subsection 6.4(e)(ii).

  

	 	(ii)	Notwithstanding the foregoing, the aggregate amount payable to the City pursuant to this Subsection shall not exceed the total amount of the Project Funds.

  

	 	(iii)	The remedies provided to the City in Subsection 6.4(b) shall be available against any Company Party that receives any portion of the Project Funds as though such
Company Party were: (A) the “Company” hereunder; and (B) were a party hereto; but only to the extent of the portion of the Project Funds received by such Company Party. 

 

	 	(c)	Remedies. Notwithstanding anything in this Agreement to the contrary, including Subsections 6.4(a) and (b): 

 

	 	(i)	 the Company shall not be obligated to pay a Reimbursement Obligation to the City under Subsection 6.4(a) so long as the Company identifies additional
Eligible Costs, together with supporting documentation, in an amount equal to the lesser of: (A) the Disputed Amount; or (B) the Adjusted Amount; as the case may be, under Subsection 6.4(a) on or before the 30th day after the date of delivery of the City’s written request
for reimbursement under Subsection 6.4(a); 

  

	 	(ii)	the Company shall not be obligated to pay a Reimbursement Obligation to the City under Subsection 6.4(a) with respect to a particular Disputed Expenditure, if the City
failed to: (A) make the determination with respect to such Disputed Expenditure; and (B) notify the Company thereof; within the 180-day period contemplated by Subsection 5.1(b); 

 

	 	(iii)	 the Company shall not be obligated to deposit a Deposit Amount with the Escrow Agent under Subsection 6.4(b) so long as the Company cures the failure
under Subsection 6.4(b) on or before: (A) the 30th
day after the date of delivery of the 

	 	
City’s written request for reimbursement under Subsection 6.4(b); or (B) such later date, if such cure is dependent upon City action (for example, receipt of a City inspection under
Subsection 5.1(e) or (f)); and 

  

	 	(iv)	if the Company commences dispute resolution procedures as provided in Section 7.8, then the Company’s obligation to pay any Reimbursement Obligation shall be
tolled pending: (A) entry by the City and the Company into a definitive written agreement; or (B) entry of a final, non-appealable judgment by a court having jurisdiction; in either case, with respect to such Reimbursement Obligations and
any related dispute. 

  

	 	(d)	Exclusive Remedy. The City acknowledges and agrees that neither the use of TIF Funds to fund something other than Eligible Costs nor the failure of the Company
to meet a Project Target is or shall be an Event of Default, and that the provisions of this Section shall be the sole and exclusive remedy of the City as a result of any such use or failure. 

 

	 	(e)	Escrow. If, after any Project Year, the Company is required to deposit the Deposit Amount with the Escrow Agent in accordance with Subsection 6.4(b), then the
following terms and conditions shall apply: 

  

	 	(i)	The City, the Company, and the Escrow Agent shall enter into the Escrow Agreement, and the Escrow Agent shall hold the Deposit Amount, together with any future Deposit
Amount and any interest earned on the Deposit Amount and any future Deposit Amount (collectively, the “Escrow Funds”), in accordance with the terms and conditions of the Escrow Agreement. 

 

	 	(ii)	If the Project Compliance Percentage for any subsequent Project Year is at least 90%, then, within 30 days after the Company’s delivery of the reports required by
Subsection 5.1(c), the Escrow Agent shall release to the Company the entire amount of the Escrow Funds. If the Deposit Amount for any subsequent Project Year is less than the Escrow Funds then on deposit with the Escrow Agent, then, within 30 days
after the Company’s delivery of the reports required by Subsection 5.1(c), the Escrow Agent shall release to the Company the amount by which the Escrow Funds exceed such Deposit Amount. 

 

	 	(iii)	After the Project Target Termination Date, the Escrow Agent promptly shall release to the City any amount of the Escrow Funds remaining in escrow after the release to
the Company, if any, of the amount of the Escrow Funds required to be released to the Company for the final Project Year pursuant to Subsection 6.4(e)(ii), but in no event later than December 31, 2017. 

Section 6.5 Termination. If: (a) the TIF Funds are not available to be disbursed to the Company by the Initial
Disbursement Date in accordance with this Agreement; or (b) the City fails to make available the Infrastructure Funds for the Infrastructure Improvements in accordance with this Agreement; provided that the Company first provides written notice
to the City thereof and the City fails to cure the same within 60 days thereafter; then, in either case, the Company may terminate this Agreement (and its obligations hereunder) upon written notice to the City. Notwithstanding anything in
Section 7.6 to the contrary, such termination shall be effective on the date of such notice unless the Company specifies a later date. 
 ARTICLE VII 
 Miscellaneous 

 Section 7.1 Expenses Upon Default. The Company shall reimburse the City
for all actual out-of-pocket expenses and costs of collection and enforcement, including, without limitation, reasonable attorneys’ fees and court costs, incurred by the City and the City Parties as a result of one or more Events of Default by
the Company or the failure by the Company to comply with the terms and conditions of Section 6.4. 

Section 7.2 Assignment. The Company shall not assign this Agreement without the prior written consent of the City;
provided that the Company may assign this Agreement or any of its rights or obligations under this Agreement: (a) to one or more of the Company Parties; (b) to one or more entities acquiring all or substantially all of the Project; or
(c) in connection with a merger, consolidation, reorganization, or spin-off involving the Company or the Project (either alone or in connection with other assets); provided that, in each such case: (a) the assignees undertake to assume
severally, but not jointly and severally, all of the Company’s obligations under this Agreement; and (b) the Company remains liable to the City for the payment of Reimbursement Obligations to the extent not otherwise paid by such assignees
(unless the City otherwise agrees in writing). 
 Section 7.3 Amendments. No modification or amendment of any
provision of this Agreement shall be effective unless made in writing and duly executed by the City and the Company. 

Section 7.4 Relationship. Nothing contained in this Agreement, nor any act of the City, the Company, or any other
person, shall be deemed or construed to create any relationship of third-party beneficiary, employer and employee, principal and agent, limited or general partners, or joint venturers. The Company is and shall remain an “independent
contractor” with respect to performance under this Agreement. The Company is responsible for and shall pay all amounts and benefits owing to or for the account of its employees, if any, including unemployment compensation, FICA, retirement,
life, and medical insurance, and worker’s compensation insurance. 
 Section 7.5 Survival. Subject to
Section 2.5, all: (a) representations, warranties, covenants, and agreements made by the City and the Company; and (b) certificates delivered by the City and the Company; in each case, pursuant to this Agreement, shall survive the
execution of this Agreement and the completion of the Project. No other person shall be entitled to rely upon any such representations, warranties, covenants, agreements, or certificates. 

Section 7.6 Notices. Any and all notices or other communications required or permitted under this Agreement shall be
in writing and be deemed given when: (a) delivered in person; (b) sent by nationally recognized overnight courier; or (c) sent by certified or registered mail, postage prepaid, addressed as follows (provided that if mailed, any
applicable time period shall commence upon receipt by the addressee; and provided further that if the addressee refuses delivery, the notice will be deemed to have been given three days after the mailing of such notice or other communication):

 If to the City: 
 City of Indianapolis 
 Department of Metropolitan Development 

Community Economic Development Division 
 Attention: Director 
 200 E. Washington Street, Suite 2042 

Indianapolis, IN 46204 
 with a copy to each of: 
 The Indianapolis Local Public Improvement Bond Bank

 Attention: Executive Director 
 200 E. Washington Street, Suite 2342 
 Indianapolis, IN 46204 

 Mr. Karl P. Haas 

Wallack Somers & Haas, P.C. 
 One Indiana Square, Suite 2300 
 Indianapolis, IN 46204 

Mr. Bruce D. Donaldson 
 Barnes & Thornburg LLP 
 11 S. Meridian Street 

Indianapolis, IN 46202 
 If to the Company: 
 Angie’s List, Inc. 

1030 E. Washington Street 
 Indianapolis, Indiana 46202 
 Attention: Chief Executive Officer 

with a copy to: 

Ginovus 
 8888
Keystone Crossing, Suite 1450 
 Indianapolis, Indiana 46240 

Attention: Larry Gigerich 
 or
to such other address or person as may be designated from time to time by notice as required by this Section. 

Section 7.7 Governing Law. Except to the extent preempted by federal law, the laws of the State of Indiana shall
govern all aspects of this Agreement, including, without limitation, execution, interpretation, performance, and enforcement. 

Section 7.8 Dispute Resolution. Any lawsuit arising out of or relating to this Agreement shall be brought in a state
or federal court of appropriate jurisdiction having situs in Marion County, Indiana. The City and the Company consent to the jurisdiction and venue of such court(s) and irrevocably waive any objections they may have to such jurisdiction or venue.

 Section 7.9 No Waiver. Neither failure nor delay on the part of the City or the Company in exercising any
right under this Agreement shall operate as a waiver of such right, nor shall any single or partial exercise of any such right preclude any further exercise thereof or the exercise of any other right. No waiver of any provision of this Agreement or
consent to any departure by the City or the Company therefrom shall be effective unless the same shall be made in writing, signed on behalf of the City or the Company, respectively, by a duly authorized officer thereof, and the same shall be
effective only in the specific instance for which it is given. No notice to or demand on the City or the Company shall entitle the City or the Company to any other or further notices or demands in similar or other circumstances, or constitute a
waiver of any of the Company’s or the City’s respective rights to take other or further action in any circumstances without notice or demand. 
 Section 7.10 Counterparts. This Agreement may be executed in several counterparts, each of which will be deemed an original for all purposes. 

Section 7.11 Binding Effect. Subject to the further provisions of this Agreement, the terms and provisions of this
Agreement will be binding upon and inure to the benefit of the City and the Company and their respective successors and assigns. 
 Section 7.12 Further Assurances. Subject to the further provisions of this Agreement, the Company and the City, at such party’s expense and upon request of the other party, shall
duly execute 

 
and deliver, or cause to be executed and delivered, such further instruments and perform, or cause to be performed, such further acts as reasonably may be necessary or proper in the reasonable
opinion of the City or the Company, respectively, to carry out the provisions and purposes of this Agreement (capital investment and job creation in Marion County, Indiana). 
 Section 7.13 Severability. The invalidity, illegality or unenforceability of any one or more of the provisions of this Agreement shall not affect the validity, legality, or
enforceability of the remaining provisions. 
 Section 7.14 Headings. The headings of the articles, sections,
and paragraphs used in this Agreement are for convenience only and shall not be read or construed to affect the meaning or construction of any provision. 
 Section 7.15 Entire Agreement. This Agreement constitutes the entire agreement by and between the City and the Company and supersedes all prior agreements, written or verbal, between
the City and the Company. No statements, promises or agreements whatsoever, in writing or verbally, in conflict with the terms of this Agreement has been made by the City or the Company that in any way modify, vary, alter, enlarge, or invalidate any
of the provisions and obligations of this Agreement. 
 Section 7.16 Third-Party Beneficiaries. This
Agreement shall not be construed to create a contractual relationship with, give rights or benefits to, or create a cause of action in favor of, anyone other than the parties hereto. 

Section 7.17 Investments. 
  

	 	(a)	The Company is not authorized or permitted under this Agreement to invest any TIF Funds or to receive any TIF Funds without the prior written approval of the City. The
Company covenants to spend the proceeds of a Disbursement Request (for which it is not seeking reimbursement of prior payment of Eligible Costs) on the Eligible Costs specified in the Disbursement Request. 

 

	 	(b)	The City and the Company agree that the Company’s violation of this Section or any provision thereof shall not give rise to an Event of Default.

 Section 7.18 Force Majeure. Each of the Company and the City shall: (a) be excused for
any failure or delay in performing any of its obligations under this Agreement, if such failure or delay is caused by an event of Force Majeure; and (b) diligently make efforts to perform any obligations delayed by Force Majeure, immediately
upon the event of Force Majeure no longer preventing such obligation from being performed. 
 Section 7.19
Interpretation. The headings in this Agreement are inserted for convenience and identification only and are not intended to aid in the interpretation of this Agreement. Unless the context requires otherwise: (a) the singular includes the
plural and vice versa; (b) the Recitals, Schedules, and Exhibits form a part of this Agreement; (c) any reference in this Agreement to any particular Article, Section, Subsection, Recital, Schedule, or Exhibit shall be deemed to refer to
an Article, Section, Subsection, or Recital of, or Schedule or Exhibit to, this Agreement; (d) the word “including” or any variation thereof means “including, without limitation” and shall not be construed to limit any
general statement that it follows to the specific or similar items or matters immediately following it; and (e) where a term is defined, another part of speech or grammatical form of that term shall have a corresponding meaning. 

[Signature page to follow.] 

 IN WITNESS WHEREOF, the City and the Company have caused this Agreement to be executed in
their respective names by their duly authorized officers, all as of the date first above written. 
  

			
	THE COMPANY:
	
	ANGIE’S LIST, INC.
		
	By:	 	 /s/ William S. Oesterle

	Printed:	 	William S. Oesterle
	Title:	 	CEO

  

			
		 	ATTEST:
		
		 	 /s/ Robert R. Millard

		 	Printed: Robert R. Millard

  

			
	THE CITY:
	
	CITY OF INDIANAPOLIS, INDIANA
		
	By:	 	 /s/ Gregory A. Ballard

		 	Gregory A. Ballard, Mayor
		
	By:	 	 /s/ Jeffrey L. Spalding

		 	Jeffrey L. Spalding, City Controller

 [SEAL] 
  

			
		 	ATTEST:
		
		 	 /s/ Maury Plambeck

		 	 Maury Plambeck, AICP

Director, Department of Metropolitan

Development

 EXECUTION FOR A LIMITED PURPOSE 

Develop Indy is executing this Agreement for the limited purposes of acknowledging and performing the obligations of the NDC hereunder. Except as
expressly provided in the foregoing sentence, Develop Indy is not a party to this Agreement. 
  

			
	 DEVELOP INDY, INC.

		
	 By:
	 	 /s/ Melissa C. Todd

		
	 Printed:
	 	 Melissa C. Todd

		
	 Title:
	 	 Vice President of Operations

 Henry Amalgamated is executing this Agreement for the limited purposes of Subsection 6.4(b). Except as expressly
provided in the foregoing sentence, Henry Amalgamated is not a party to this Agreement. 
  

			
	HENRY AMALGAMATED, LLC
		
	By:	 	 /s/ Karl Northern

	Printed:	 	Karl NorthernForm of Indemnification

 Exhibit 10.16 
 FORM OF INDEMNIFICATION AGREEMENT 
 This INDEMNIFICATION AGREEMENT (this
“Agreement”), dated as of October 31, 2011, is by and between SunCoke Energy, Inc., a Delaware corporation (together with any successor by merger or otherwise, the “Company”), and
(“Indemnitee”). 
 WHEREAS, the Company and Indemnitee recognize the increasing difficulty in obtaining
directors’ and officers’ liability insurance, the significant increases in the cost of such insurance and the general reduction in the coverage of such insurance; and 

WHEREAS, the Company and Indemnitee further recognize the substantial increase in corporate litigation, in general, subjecting officers
and directors to expensive litigation risks at the same time as liability insurance has been severely limited; and 
 WHEREAS,
Indemnitee does not regard the current protection available as adequate given the present circumstances, and Indemnitee and other officers and directors of the Company may not be willing to serve as officers and directors without adequate
protection; and 
 WHEREAS, the Company desires to attract and retain the services of highly qualified individuals, such as
Indemnitee, to serve as officers and directors of the Company and to indemnify its officers and directors so as to provide them with the maximum protection permitted by law; and 

WHEREAS, the Company desires to provide Indemnitee with specific contractual assurance of Indemnitee’s rights to full
indemnification against litigation risks and expenses (regardless, among other things, of any amendment to any of the Company’s Amended and Restated Certificate of Incorporation (as it may be amended from time to time, the “Certificate
of Incorporation”) or revocation of any provision of the Company’s Amended and Restated By-laws (as it may be amended from time to time, the “By-laws”) or any change in the ownership of the Company or the composition
of its board of directors (the “Board of Directors”)); and 
 WHEREAS, the indemnification rights provided to
Indemnitee pursuant to this Agreement are in addition to any rights for indemnification provided to Indemnitee pursuant to the Certificate of Incorporation, the By-laws and any resolutions adopted pursuant thereto and to any indemnification rights
to which Indemnitee may be entitled under the General Corporation Law of the State of Delaware (“DGCL”). 

NOW, THEREFORE, the Company and Indemnitee, intending to be legally bound, hereby agree as follows: 

 

	1.	Indemnification. 

  

	 	(a)	 Third-Party Proceedings. To the fullest extent permitted by applicable law, the Company shall indemnify Indemnitee if Indemnitee is or was a
party or is threatened to be made a party or is otherwise involved in any threatened, pending 

  
 -1-

	 	
or completed action, suit or proceeding, whether civil, criminal, administrative or investigative (other than an action by or in the right of the Company) by reason of the fact that Indemnitee is
or was a director, officer, manager, trustee, fiduciary, employee or agent of the Company, or any affiliate of the Company, by reason of any action or inaction on the part of Indemnitee while an officer or director, or by reason of the fact that
Indemnitee is or was serving at the request of the Company as a director, officer, manager, trustee, fiduciary, employee or agent of another corporation, partnership, limited liability company, joint venture, trust or other enterprise, against
expenses (including attorneys’ fees), liabilities, losses, judgments, fines, amounts paid in settlement (if such settlement is approved pursuant to Section 2(f) hereof) and Employee Retirement Income Security Act of 1974
(“ERISA”) excise taxes or penalties actually and reasonably incurred or suffered by Indemnitee in connection with such action, suit or proceeding; provided, however, that the Company shall not be obligated to make any
indemnity in connection with any claim if the Court of Chancery of the State of Delaware has made a final determination that, in connection with the subject of the proceedings out of which the claim for indemnification has arisen, Indemnitee failed
to act in good faith, acted in a manner that Indemnitee believed was opposed to the best interests of the Company or, with respect to any criminal action or proceeding, had no reasonable cause to believe Indemnitee’s conduct was lawful. The
termination of any action, suit or proceeding by judgment, order, settlement, conviction, or upon a plea of nolo contendere or its equivalent, shall not, in and of itself, create a presumption that (i) Indemnitee did not act in good
faith and in a manner which Indemnitee reasonably believed to be in or not opposed to the best interests of the Company, and, (ii) with respect to any criminal action or proceeding, Indemnitee did not have reasonable cause to believe his or her
conduct was lawful. 

  

	 	(b)	 Proceedings By or in the Right of the Company. The Company shall indemnify Indemnitee if Indemnitee is or was a party or is threatened to be
made a party to or is otherwise involved in any threatened, pending or completed action or suit by or in the right of the Company or any subsidiary of the Company to procure a judgment in its favor by reason of the fact that Indemnitee is or was a
director, officer, manager, trustee, fiduciary, employee or agent of the Company, or any affiliate of the Company, by reason of any action or inaction on the part of Indemnitee while an officer or director or by reason of the fact that Indemnitee is
or was serving at the request of the Company as a director, officer, manager trustee, fiduciary, employee or agent of another corporation, partnership, limited liability company, joint venture, trust or other enterprise, against expenses (including
attorneys’ fees), liabilities, losses, judgments, fines and amounts paid in settlement (if such settlement is approved pursuant to Section 2(f) hereof) and ERISA excise taxes or penalties actually and reasonably incurred or suffered by
Indemnitee in connection with the defense or settlement of such action or suit; provided, however, that the Company shall not be obligated to make any indemnity in connection with any claim if the Court of Chancery of the State of Delaware
has made a final determination that, in connection with the subject of the proceedings out of which the claim for indemnification has arisen, Indemnitee 

  
 -2-

	 	
failed to act in good faith or acted in a manner that Indemnitee believed was opposed to the best interests of the Company; provided, further, that no indemnification shall be made in
respect of any claim, issue or matter as to which Indemnitee shall have been adjudged to be liable to the Company unless and only to the extent that the court in which such action or suit was brought shall make a final determination upon application
that, despite the adjudication of liability but in view of all the circumstances of the case, Indemnitee is fairly and reasonably entitled to indemnity for such expenses which the court shall deem proper. 

 

	 	(c)	Mandatory Indemnification. To the extent that Indemnitee has been successful on the merits or otherwise in defense of any action, suit or proceeding referred to
in Sections 1(a) and 1(b) or in defense of any claim, issue or matter therein, Indemnitee shall be indemnified against expenses (including attorneys’ fees), liabilities and losses actually and reasonably incurred or suffered by Indemnitee in
connection therewith. For purposes of this Section 1(c), the term “successful on the merits or otherwise” shall include, but not be limited to, (i) any termination, withdrawal, or dismissal (with or without prejudice) of any
claim, action, suit or proceeding against Indemnitee without any express finding of liability or guilt against him or her, or (ii) the expiration of a reasonable period of time after the making of any claim or threat of an action, suit or
proceeding without the institution of the same and without any promise or payment made to induce a settlement. 

  

	2.	Expenses and Indemnification Procedure. 

  

	 	(a)	Advancement of Expenses. To the fullest extent permitted by applicable law, the Company shall advance all reasonable expenses incurred by Indemnitee in
connection with the investigation, defense, settlement or appeal of any civil or criminal action, suit or proceeding referenced in Section 1(a) or Section l(b) hereof. For purposes of any advancement hereunder, Indemnitee shall be deemed to
have acted (i) in good faith and in a manner he or she reasonably believed to be in or not opposed to the best interests of the Company, and (ii) with respect to any criminal action or procedure, to have had no reasonable cause to believe
his or her conduct was unlawful if, under either (i) or (ii), his or her action is based on the records or books of account of the Company, or the records or books of account of another corporation, partnership, limited liability company, joint
venture, trust or other enterprise (collectively, the “other enterprises”), including financial statements, or on information supplied to him or her by the officers of the Company or other enterprises in the course of their duties, or on
the advice of legal counsel for the Company or other enterprises or on information or records given or reports made to the Company or other enterprises by an independent certified public accountant or by an appraiser or other expert selected with
reasonable care by the Company or other enterprises. Advances shall be unsecured and interest free. Advances shall be made without regard to Indemnitee’s ability to repay the advances and without regard to Indemnitee’s ultimate entitlement
to indemnification under the other provisions of this Agreement. Indemnitee hereby undertakes to repay such amounts advanced only if, and to the extent that, it shall ultimately be determined that Indemnitee is not entitled to be indemnified by the
Company as authorized hereby. 

  
 -3-

	 	(b)	Notice/Cooperation by Indemnitee. Indemnitee shall give the Company notice in writing as soon as reasonably practicable of any claim made against Indemnitee for
which indemnification will or could be sought under this Agreement; provided that a delay in giving such notice shall not deprive Indemnitee of any right to be indemnified under this Agreement unless, and then only to the extent that, such
delay is materially prejudicial to the defense of such claim. The omission to notify the Company will not relieve the Company from any liability for indemnification which it may otherwise have to Indemnitee. Notice to the Company shall be directed
to SunCoke Energy, Inc., 1011 Warrenville Road, Lisle, Illinois 60532, Attention: Senior Vice President and General Counsel (or such other address as the Company may from time to time designate in writing to Indemnitee). In addition, Indemnitee
shall give the Company such information and cooperation as it may reasonably require and as shall be within Indemnitee’s power. 

  

	 	(c)	 Procedure. Any indemnification and advances provided for in Section 1 hereof and this Section 2 shall be made no later than twenty
(20) days after receipt of the written request of Indemnitee, coupled with such documentation and information as is reasonably available to Indemnitee and is reasonably necessary to determine whether and to what extent Indemnitee is entitled to
indemnification. If a claim under this Agreement, under any statute, or under any provision of the Certificate of Incorporation or the By-laws providing for indemnification is not paid in full by the Company within twenty (20) days after
receipt of a fully documented written request for payment thereof has first been received by the Company, Indemnitee may, but need not, at any time thereafter bring an action against the Company to recover the unpaid amount of the claim and, subject
to Section 13 hereof, Indemnitee shall also be entitled to be paid for the expenses (including attorneys’ fees) of bringing such action. It shall be a defense to any such action (other than an action brought to enforce a claim for expenses
incurred in connection with any action, suit or proceeding in advance of its final disposition) that Indemnitee has not met the standards of conduct which make it permissible under applicable law for the Company to indemnify Indemnitee for the
amount claimed, but the burden of proving such defense shall be on the Company, and Indemnitee shall be entitled to receive interim payments of expenses pursuant to Section 2(a) hereof unless and until such defense may be finally adjudicated by
court order or judgment from which no further right of appeal exists. It is the parties’ intention that if the Company contests Indemnitee’s right to indemnification, the question of Indemnitee’s right to indemnification shall be for
the court to decide, and neither the failure of the Company (including its Board of Directors, any committee or subgroup of the Board of Directors, independent legal counsel, or its shareholders) to have made a determination that indemnification of
Indemnitee is proper in the circumstances because Indemnitee has met the applicable standard of conduct required by applicable law, nor an actual determination by the Company (including its Board of Directors, any

  
 -4-

	 	
committee or subgroup of the Board of Directors, independent legal counsel, or its shareholders) that Indemnitee has not met such applicable standard of conduct, shall create a presumption that
Indemnitee has or has not, as the case may be, met the applicable standard of conduct. 

  

	 	(d)	Knowledge of the Company. The knowledge and/or actions, or failure to act, of any director, officer, agent, trustee, fiduciary or employee of the Company or
other enterprises shall not be imputed to any Indemnitee for purposes of determining the right to indemnification or advancement of expenses under this Agreement. 

 

	 	(e)	Notice to Insurers. If, at the time of the receipt of a notice of claim pursuant to Section 2(b) hereof, the Company has directors’ and officers’
liability insurance in effect, the Company shall give prompt notice of the commencement of such proceeding to the insurers in accordance with the procedures set forth in the respective policies. The Company shall thereafter take all necessary or
desirable action to cause such insurers to pay, on behalf of Indemnitee, all amounts payable as a result of such proceeding in accordance with the terms of such policies. 

 

	 	(f)	Selection of Counsel. If the Company shall be obligated under Section 1 or Section 2 hereof to pay the expenses of any proceeding against Indemnitee,
the Company, if appropriate, shall be entitled to assume the defense of such proceeding, with counsel approved by Indemnitee, upon the delivery to Indemnitee of written notice of its election to do so. After delivery of such notice, approval of such
counsel by Indemnitee and the retention of such counsel by the Company, the Company will not be liable to Indemnitee under this Agreement for any fees of counsel subsequently incurred by Indemnitee with respect to the same proceeding;
provided that (i) Indemnitee shall have the right to employ separate counsel in any such proceeding at Indemnitee’s expense; and (ii) if (A) the employment of counsel by Indemnitee has been previously authorized by the
Company, (B) Indemnitee shall have reasonably concluded that there may be a conflict of interest between the Company and Indemnitee in the conduct of any such defense, or (C) the Company shall not, in fact, have employed counsel to assume
the defense of such proceeding, then the reasonable fees and expenses of Indemnitee’s counsel shall be at the expense of the Company. 

  

	 	(g)	Settlements. The Company shall not be liable to Indemnitee under this Agreement for any amounts paid in settlement of any action or claim effected without its
written consent. The Company shall not settle any action or claim in any manner which would impose any penalty or limitation on Indemnitee without Indemnitee’s written consent. Neither the Company nor Indemnitee will unreasonably withhold
consent to any proposed settlement. 

  

	 	(h)	 Change in Control. If, at any time subsequent to the date of this Agreement, there is a Change in Control (as defined in Section 18), then
upon the request of Indemnitee, the Company shall cause the determination of indemnification and advances required by Section 2 hereof to be made by an Independent Counsel (as

  
 -5-

	 	
defined below) selected by Indemnitee. The fees and expenses incurred by such Independent Counsel in making the determination of indemnification and advances shall be borne solely by the Company.
If such Independent Counsel is unwilling and/or unable to make the determination of indemnification and advances, then the Company shall cause such determination to be made by a majority vote or consent of a committee of the Board of Directors
consisting solely of members of the Incumbent Board. “Independent Counsel” means a law firm, a member of a law firm, or an independent practitioner, that is experienced in matters of corporation law and shall include any person who, under
the applicable standards of professional conduct then prevailing, would not have a conflict of interest in representing either the Company or Indemnitee in an action to determine Indemnitee’s rights under this Agreement.

  

	 	(i)	Payment of Indemnifications and Advances. Notwithstanding any other provision in this Agreement, all claims of Indemnitee for expenses, indemnifications and
advances under this Agreement shall be paid for items incurred by or with respect to Indemnitee only during Indemnitee’s lifetime or within ten (10) years after Indemnitee’s death. All such payments shall be made on or before the
close of the calendar year following the calendar year in which the item was incurred, or at such earlier time as otherwise provided in this Agreement. The amounts eligible for reimbursement under this Agreement in one calendar year may not affect
the amount of expenses eligible for reimbursement under this provision in any other calendar year. 

  

	 	(j)	Company May Participate. The Company shall be entitled to participate in any action, suit or proceeding for which Indemnitee seeks indemnification hereunder at
its own expense. 

  

	3.	Additional Indemnification Rights. 

  

	 	(a)	Scope. Notwithstanding any other provision of this Agreement, the Company shall indemnify Indemnitee to the fullest extent permitted by law, notwithstanding that
such indemnification is not specifically authorized by the other provisions of this Agreement, the Certificate of Incorporation, the By-laws or by statute. In the event of any change, after the date of this Agreement, in any applicable law, statute,
or rule which expands the right of a Delaware corporation to indemnify a member of its board of directors or an officer, such changes shall be, ipso facto, within the purview of Indemnitee’s rights and Company’s obligations under
this Agreement. In the event of any change in any applicable law, statute or rule which narrows the right of a Delaware corporation to indemnify a member of its board of directors or an officer, such changes (to the extent not otherwise required by
such law, statute or rule to be applied to this Agreement) shall have no effect on this Agreement or the parties’ rights and obligations hereunder. The rights conferred in this Agreement cannot be terminated by the Company, the Board of
Directors or the shareholders of the Company with respect to a person’s service prior to the date of such termination. 

  
 -6-

	 	(b)	Non-exclusivity. The indemnification provided by this Agreement shall not be deemed exclusive of any rights to which an Indemnitee may be entitled under the
Certificate of Incorporation, the By-laws, any agreement, any vote of shareholders or disinterested directors, the DGCL or otherwise, both as to action in Indemnitee’s official capacity and as to action in another capacity while holding such
office. 

  

	 	(c)	Primacy of Indemnification. The Company hereby acknowledges that Indemnitee may have certain rights to indemnification, advancement of expenses and/or insurance
provided by other sources. The Company hereby agrees that Indemnitee is not obligated to enforce its rights against such other sources prior to obtaining indemnification or advancement of expenses hereunder. 

 

	 	(d)	Contribution. To the fullest extent permissible under applicable law, if the indemnification provided for in this Agreement is unavailable to Indemnitee for any
reason whatsoever, the Company, in lieu of indemnifying Indemnitee, shall contribute to the amount incurred by Indemnitee, whether for expenses and/or losses, in connection with any claim relating to an indemnifiable event under this Agreement, in
such proportion as is deemed fair and reasonable in light of all of the circumstances of such proceeding in order to reflect (i) the relative benefits received by the Company and Indemnitee as a result of the event(s) and/or transaction(s)
giving cause to such proceeding; and/or (ii) the relative fault of the Company (and its directors, officers, employees, trustees, fiduciaries and agents) and Indemnitee in connection with such event(s) and/or transaction(s).

  

	4.	Commencement and Continuation of Indemnity. All agreements and obligations of the Company contained herein shall vest at the commencement of such
Indemnitee’s service as a director, officer, manager, trustee, fiduciary, employee or agent of the Company (or, if requested by the Company, as a director, officer, manager, trustee, fiduciary, employee or agent of other enterprises) and shall
continue thereafter, so long as Indemnitee shall be subject to any possible claim or threatened, pending or completed action, suit or proceeding, whether civil, criminal or investigative, by reason of the fact that Indemnitee is or was a director,
officer, manager, trustee, fiduciary, employee or agent of the Company or serving in any other capacity referred to herein. Any amendment or modification of this Agreement that in any way diminishes or adversely affects any such rights shall be
prospective only and shall not in any way diminish or adversely affect any such rights with respect to any actual or alleged state of facts, occurrence, action or omission occurring prior to the time of such amendment or modification, or action,
suit or proceeding previously or thereafter brought or threatened based in whole or in part upon any such actual or alleged state of facts, occurrence, action or omission. 

 

	5.	Partial Indemnification. If Indemnitee is entitled under any provision of this Agreement to indemnification by the Company for some or a portion of
the expenses, judgments, fines or penalties actually or reasonably incurred by him or her in the investigation, defense, appeal or settlement of any civil or criminal action, suit or proceeding, but not for the total amount thereof, the Company
shall nevertheless indemnify Indemnitee for the portion of such expenses, judgments, fines or penalties to which Indemnitee is entitled. 

  
 -7-

	6.	Mutual Acknowledgment. Both the Company and Indemnitee acknowledge that, in certain instances, federal law or public policy may override applicable state
law and prohibit the Company from indemnifying its directors and officers under this Agreement or otherwise. For example, the Company and Indemnitee acknowledge that the Securities and Exchange Commission (the “SEC”) has taken the
position that indemnification is not possible for liabilities arising under certain federal securities laws, and federal legislation prohibits indemnification for certain ERISA violations. Indemnitee understands and acknowledges that the Company has
undertaken with the SEC to submit the question of indemnification to a court in certain circumstances for a determination of the Company’s right under public policy to indemnify Indemnitee. 

 

	7.	Officer and Director Liability Insurance. The Company shall, from time to time, make the good faith determination whether or not it is practicable for the
Company to obtain and maintain a policy or policies of insurance with reputable insurance companies providing the officers, directors, managers, trustees, fiduciaries, employees or agents of the Company or other enterprise with coverage for losses
from wrongful acts, or to ensure the Company’s performance of its indemnification obligations under this Agreement. Among other considerations, the Company will weigh the costs of obtaining such insurance coverage against the protection
afforded by such coverage. In all policies of directors’ and officers’ liability insurance, Indemnitee shall be insured in such a manner as to provide Indemnitee the same rights and benefits as are accorded to the most favorably insured of
the Company’s directors, if Indemnitee is a director; or of the Company’s officers, if Indemnitee is not a director of the Company but is an officer; or one of the Company’s key employees, if Indemnitee is not an officer or director
but is a key employee. Notwithstanding the foregoing, the Company shall have no obligation to obtain or maintain such insurance if the Company determines in good faith that such insurance is not reasonably available, if the premium costs for such
insurance arc disproportionate to the amount of coverage provided, if the coverage provided by such insurance is limited by exclusions so as to provide an insufficient benefit, or if Indemnitee is covered by similar insurance maintained by an
affiliate of the Company. 

  

	8.	Severability. Nothing in this Agreement is intended to require or shall be construed as requiring the Company to do or fail to do any act in violation of
applicable law. The Company’s inability, pursuant to court order, to perform its obligations under this Agreement shall not constitute a breach of this Agreement. The provisions of this Agreement shall be severable as provided in this
Section 8. If this Agreement or any portion hereof shall be invalidated on any ground by any court of competent jurisdiction, then the Company shall nevertheless indemnify Indemnitee to the full extent permitted by any applicable portion of
this Agreement that shall not have been invalidated, and the balance of this Agreement not so invalidated shall be enforceable in accordance with its terms. To the fullest extent possible, the provisions of this Agreement (including, without
limitation, each portion of any section of this Agreement containing any such provision held to be invalid, illegal or unenforceable, that is not itself invalid, illegal or unenforceable) shall be construed so as to give effect to the intent
manifested thereby. 

  
 -8-

	9.	Exceptions. Any other provision herein to the contrary notwithstanding, the Company shall not be obligated pursuant to the terms of this Agreement:

  

	 	(a)	Claims Initiated by Indemnitee. To indemnify or advance expenses to Indemnitee with respect to proceedings or claims initiated or brought voluntarily by
Indemnitee and not by way of defense, except with respect to proceedings brought to establish or enforce a right to indemnification under this Agreement or any other statute or law or otherwise as required under the DGCL, but such indemnification or
advancement of expenses may be provided by Company in specific cases if the Board of Directors, at its sole discretion, finds it to be appropriate; 

  

	 	(b)	Lack of Good Faith. To indemnify Indemnitee for any expenses incurred by Indemnitee with respect to any proceeding instituted by Indemnitee to enforce or
interpret this Agreement, if the Court of Chancery of the State of Delaware shall have made a final determination that each of the material assertions made by Indemnitee in such proceeding was not made in good faith or was frivolous;

  

	 	(c)	Insured Claims. To indemnify Indemnitee for expenses or liabilities of any type whatsoever (including, but not limited to, judgments, fines, ERISA excise taxes
or penalties, and amounts paid in settlement) which have been paid directly to Indemnitee by an insurance carrier under a policy of officers’ and directors’ liability insurance maintained by the Company or other enterprise; or

  

	 	(d)	Claims Under Section 16(b). To indemnify Indemnitee for expenses or the payment of profits arising from the purchase and sale by Indemnitee of securities in
violation of Section 16(b) of the Exchange Act (as defined in Section 18) or any similar successor statute. 

  

	10.	Construction of Certain Phrases. 

  

	 	(a)	For purposes of this Agreement, references to the “Company” shall include, in addition to the resulting enterprise, any constituent enterprise (including any
constituent of a constituent) absorbed in a consolidation or merger which, if its separate existence had continued, would have had power and authority to indemnify its directors, officers, managers, trustees, fiduciaries, employees or agents, so
that if Indemnitee is or was a director, officer, manager, trustee, fiduciary, employee or agent of such constituent enterprise, or is or was serving at the request of such constituent enterprise as a director, officer, manager, trustee, fiduciary,
employee or agent of other enterprises, Indemnitee shall stand in the same position under the provisions of this Agreement with respect to the resulting or surviving enterprise as Indemnitee would have with respect to such constituent enterprise if
its separate existence had continued. 

  

	 	(b)	 For purposes of this Agreement, references to “other enterprises” shall include employee benefit plans; references to “fines” shall
include any excise taxes assessed on Indemnitee with respect to an employee benefit plan; and reference to 

  
 -9-

	 	
“serving at the request of the Company” shall include any service as a director, officer, manager, trustee, fiduciary, employee or agent of the Company which imposes duties on, or
involves services by, Indemnitee with respect to an employee benefit plan, its participants, or beneficiaries; and, if Indemnitee acted in good faith and in a manner Indemnitee reasonably believed to be in the interest of the participants and
beneficiaries of an employee benefit plan, Indemnitee shall be deemed to have acted in a manner “not opposed to the best interests of the Company” as referred to in this Agreement. 

 

	 	(c)	For the purposes of this Agreement, references to “affiliates” shall mean any entity which, directly or indirectly, is in the control of, is controlled by, or
is under common control with, the Company. 

  

	11.	Counterparts. This Agreement may be executed in one or more counterparts, each of which shall constitute an original. 

 

	12.	Successors and Assigns. This Agreement shall be binding upon and inure to the benefit of the Company and its successors and assigns, and Indemnitee and
Indemnitee’s estate, heirs, legal representatives and assigns. 

  

	13.	Attorneys’ Fees. If any action is instituted by Indemnitee under this Agreement to enforce or interpret any of the terms hereof, Indemnitee shall be
entitled to be paid all court costs and expenses, including reasonable attorneys’ fees, incurred by Indemnitee with respect to such action, unless as a part of such action, the court of competent jurisdiction determines that each of the
material assertions made by Indemnitee as a basis for such action was not made in good faith or was frivolous. In the event of an action instituted by or in the name of the Company under this Agreement or to enforce or interpret any of the terms of
this Agreement, Indemnitee shall be entitled to be paid all court costs and expenses, including attorneys’ fees, incurred by Indemnitee in defense of such action (including with respect to Indemnitee’s counterclaims and cross-claims made
in such action), unless as a part of such action the court determines that each of Indemnitee’s material defenses to such action was made in bad faith or was frivolous. 

 

	14.	Notice. All notices, requests, demands and other communications under this Agreement shall be in writing and, unless otherwise provided, shall be deemed
duly given (a) if delivered by hand and receipted for by the party addressee, on the date of such receipt, or (b) if mailed by domestic certified or registered mail with postage prepaid, on the third business day after the date postmarked.
The address for notice to the Company shall be as set forth in Section 2(b) hereof, and the address for notice to Indemnitee shall be as set forth on the signature page of this Agreement, or as subsequently modified by written notice.

  

	15.	Consent to Jurisdiction. The Company and Indemnitee each hereby irrevocably consent to the jurisdiction of the Court of Chancery of the State of Delaware
for all purposes in connection with any action or proceeding which arises out of or relates to this Agreement. Any action or proceeding instituted under or to enforce this Agreement shall be brought only in the Court of Chancery of the State of
Delaware. 

  
 -10-

	16.	Subrogation. In the event of payment under this Agreement, Company shall be subrogated to the extent of such payment to all of the rights of recovery of
Indemnitee, who shall execute all papers required and shall do everything that may be necessary to secure such rights, including the execution of such documents necessary to enable the Company effectively to bring suit to enforce such rights.

  

	17.	Choice of Law. This Agreement shall be governed by and its provisions construed in accordance with the laws of the State of Delaware, without giving
effect to any choice of law or conflict of law rules or provisions (whether of the State of Delaware or any other jurisdiction) that would cause the application of the laws of any jurisdiction other than the State of Delaware.

  

	18.	Definition of Change in Control. For purposes of this Agreement, “Change in Control” means the occurrence of any of the following events:

  

	 	(a)	The acquisition by any individual, entity or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the U.S. Securities Exchange Act of 1934, as amended (the
“Exchange Act”)), (a “Person”) of beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of twenty percent (20)% or more of either (l) the then-outstanding shares of common
stock of the Company (the “Outstanding Company Common Stock”) or (2) the combined voting power of the then-outstanding voting securities of the Company entitled to vote generally in the election of directors (the
“Outstanding Company Voting Securities”); provided, however, that, for purposes of this clause (a), the following acquisitions shall not constitute a Change in Control: (A) any acquisition directly from the
Company, (B) any acquisition by the Company, (C) any acquisition by any employee benefit plan (or related trust) sponsored or maintained by the Company or any company controlled by, controlling or under common control with the Company, or
(D) any acquisition by any entity pursuant to a transaction that complies with clauses (c)(1), (c)(2) and (c)(3) of this definition; 

  

	 	(b)	Individuals who, as of the date hereof, constitute the Board of Directors (the “Incumbent Board”) cease for any reason to constitute at least a
majority of the Board of Directors; provided, however, that any individual becoming a director subsequent to the date hereof whose election, or nomination for election by the Company’s shareholders, was approved by a vote of at
least a majority of the directors then comprising the Incumbent Board shall be considered as though such individual were a member of the Incumbent Board, but excluding, for this purpose, any such individual whose initial assumption of office occurs
as a result of an actual or threatened election contest with respect to the election or removal of directors or other actual or threatened solicitation of proxies or consents by or on behalf of a Person other than the Board of Directors;

  

	 	(c)	 Consummation of a reorganization, merger, statutory share exchange or consolidation or similar corporate transaction involving the Company or any of
its subsidiaries, a sale or other disposition of all or substantially all of the assets of the Company, or the acquisition of assets or stock of another entity by the 

  
 -11-

	 	
Company or any of its subsidiaries (each, a “Business Combination”), in each case unless, following such Business Combination: (1) all or substantially all of the
individuals and entities that were the beneficial owners of the Outstanding Company Common Stock and the Outstanding Company Voting Securities immediately prior to such Business Combination beneficially own, directly or indirectly, more than fifty
(50)% of the then-outstanding shares of common stock and the combined voting power of the then-outstanding voting securities entitled to vote generally in the election of directors, as the case may be, of the corporation resulting from such Business
Combination (including, without limitation, a corporation that, as a result of such transaction, owns the Company or all or substantially all of the Company’s assets either directly or through one or more subsidiaries) in substantially the same
proportions as their ownership immediately prior to such Business Combination of the Outstanding Company Common Stock and the Outstanding Company Voting Securities, as the case may be, (2) no Person (excluding any corporation resulting from
such Business Combination or any employee benefit plan (or related trust) of the Company or such corporation resulting from such Business Combination or any of their respective subsidiaries) beneficially owns, directly or indirectly, twenty (20)% or
more of, respectively, the then outstanding shares of common stock of the corporation resulting from such Business Combination or the combined voting power of the then-outstanding voting securities of such corporation, except to the extent that such
ownership existed prior to the Business Combination, and (3) at least a majority of the members of the board of directors of the corporation resulting from such Business Combination were members of the Incumbent Board at the time of the
execution of the initial agreement or of the action of the Board of Directors providing for such Business Combination; or 

  

	 	(d)	Approval by the shareholders of the Company of a complete liquidation or dissolution of the Company; 

provided, however, that in no event shall the initial public offering of the Company or the subsequent distribution of shares of common stock, par
value $0.01 per share, of the Company from Sunoco, Inc. to the Sunoco, Inc. shareholders constitute a Change in Control. 
  

	19.	No Preclusion. The Company shall be precluded from asserting in any judicial proceeding that the provisions of this Agreement are not valid, binding and
enforceable. 

  

	20.	Modification and Waiver. No supplement, modification or amendment of this Agreement shall be binding unless executed in writing by the parties thereto. No
waiver of any of the provisions of this Agreement shall be deemed or shall constitute a waiver of any other provisions of this Agreement nor shall any waiver constitute a continuing waiver. 

  
 -12-

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first
above written. 
  

							
	 ACCEPTED AND AGREED TO:
  
	  				  	
	 INDEMNITEE:
  
	  				  	SUNCOKE ENERGY, INC.
	 	  	   
	By:  
	    
	  	 
	 (signature)
	  				  	 Name:

Title:

	 (name)

 
	  				  	
	 (address)

 
	  				  	

  
 -13-

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