Document:

exv10w62

Exhibit 10.62

THE GOLDMAN SACHS AMENDED AND RESTATED

STOCK INCENTIVE PLAN

                YEAR-END SUPPLEMENTAL RSU AWARD

     This Award Agreement sets forth the terms and conditions of the                 Year-End award (this
“Award”) of “Supplemental” RSUs (“Year-End Supplemental RSUs”) granted to you under The Goldman
Sachs Amended and Restated Stock Incentive Plan (the “Plan”).

     1. The Plan. This Award is made pursuant to the Plan, the terms of which are
incorporated in this Award Agreement. Capitalized terms used in this Award Agreement that are not
defined in this Award Agreement have the meanings as used or defined in the Plan. References in
this Award Agreement to any specific Plan provision shall not be construed as limiting the
applicability of any other Plan provision. In light of the U.S. tax rules relating to deferred
compensation in Section 409A of the Code, to the extent that you are a United States taxpayer,
certain provisions of this Award Agreement and of the Plan shall apply only as provided in
Paragraph 15.

     2. Award.

          (a) The number of Year-End Supplemental RSUs subject to this Award is set forth in the Award
Statement delivered to you. An RSU is an unfunded and unsecured promise to deliver (or cause to be
delivered) to you, subject to the terms and conditions of this Award Agreement, a share of Common
Stock (a “Share”) on the Delivery Date or as otherwise provided herein. Until such delivery, you
have only the rights of a general unsecured creditor, and no rights as a shareholder of GS Inc.
This Award is conditioned on your executing the related signature card and returning it to the
address designated on the signature card and/or by the method designated on the signature card by
the date specified, and is subject to all terms, conditions and provisions of the Plan and this
Award Agreement, including, without limitation, the arbitration and choice of forum provisions set
forth in Paragraph 12. By executing the related signature card (which, among other
things, opens the custody account referred to in paragraph 3(b) if you have not done so
already), you will have confirmed your acceptance of all of the terms and conditions of this Award
Agreement.

          (b) If you a party to the Goldman Sachs Shareholders’ Agreement, as amended from time to time
(the “Shareholders’ Agreement”), the Shares delivered with respect to your Year-End Supplemental
RSUs will be subject to the Shareholders’ Agreement, except those Shares will not be considered
“Covered Shares” for purposes of Section 2.1(a) of the Shareholders’ Agreement.

 

 

     3. Vesting and Delivery.

          (a) Vesting. Except as provided in this Paragraph 3 and in Paragraphs 2, 4, 6, 7, 9,
10 and 15, on each Vesting Date you shall become Vested in the number or percentage of Year-End
Supplemental RSUs specified next to such Vesting Date on the Award Statement (which may be rounded
to avoid fractional Shares). While continued active Employment is not required in order to receive
delivery of the Shares underlying your Outstanding Year-End Supplemental RSUs that are or become
Vested, all other terms and conditions of this Award Agreement shall continue to apply to such
Vested Year-End Supplemental RSUs, and failure to meet such terms and conditions may result in the
termination of this Award (as a result of which, no Shares underlying such Vested Year-End
Supplemental RSUs would be delivered).

          (b) Delivery.

               (i) The Delivery Date with respect to the number or percentage of your Year-End Supplemental
RSUs shall be the date specified next to such number or percentage of Year-End Supplemental RSUs on
your Award Statement. In accordance with Treasury Regulations section (“Reg.”) 1.409A-3(d), the
Firm may accelerate delivery to a date that is up to 30 days before the Delivery Date specified on
the Award Statement; provided, however, that in no event shall you be permitted to designate,
directly or indirectly, the taxable year of the delivery.

               (ii) Except as provided in this Paragraph 3 and in Paragraphs 2, 4, 5, 6, 7, 9, 10, 15 and 16,
in accordance with Section 3.23 of the Plan, reasonably promptly (but in no case more than thirty
(30) Business Days) after each date specified as a Delivery Date (or any other date delivery of
Shares is called for hereunder), Shares underlying the number or percentage of your then
Outstanding Year-End Supplemental RSUs with respect to which such Delivery Date (or other date) has
occurred (which number of Shares may be rounded to avoid fractional Shares) shall be delivered by
book entry credit to your Custody Account or to a brokerage account, as approved or required by the
Firm. Notwithstanding the foregoing, if you are or become considered by GS Inc. to be one of its
“covered employees” within the meaning of Section 162(m) of the Code, then you shall be subject to
Section 3.21.3 of the Plan, as a result of which delivery of your Shares may be delayed.

               (iii) In accordance with Section 1.3.2(i) of the Plan, in the discretion of the Committee, in
lieu of all or any portion of the Shares otherwise deliverable in respect of all or any portion of
your Year-End Supplemental RSUs, the Firm may deliver cash, other securities, other Awards or other
property, and all references in this Award Agreement to deliveries of Shares shall include such
deliveries of cash, other securities, other Awards or other property.

               (iv) In the discretion of the Committee, delivery of Shares may be made initially into an
escrow account meeting such terms and conditions as are determined by the Firm and may be held in
that escrow account until such time as the Committee has received such documentation as it may have
requested or until the Committee has determined that any other conditions or restrictions on
delivery of Shares required by this Award Agreement have been satisfied. By accepting your
Year-End Supplemental RSUs, you have agreed on behalf of yourself (and your estate or other
permitted beneficiary) that the Firm may establish and maintain an escrow account on such terms and
conditions (which may include, without limitation, your executing any documents related to, and
your paying for any costs associated with, such escrow account) as the

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Firm may deem necessary or appropriate. Any such escrow arrangement shall, unless otherwise
determined by the Firm, provide that (A) the escrow agent shall have the exclusive authority to
vote such Shares while held in escrow and (B) dividends paid on such Shares held in escrow may be
accumulated and shall be paid as determined by the Firm in its discretion.

          (c) Death. Notwithstanding any other Paragraph of this Award Agreement (except
Paragraph 15), if you die prior to the Delivery Date, the Shares underlying your then Outstanding
Year-End Supplemental RSUs shall be delivered to the representative of your estate as soon as
practicable after the date of death and after such documentation as may be requested by the
Committee is provided to the Committee. The Committee may adopt procedures pursuant to which you
may be permitted to specifically bequeath some or all of your Outstanding Year-End Supplemental
RSUs under your will to an organization described in Sections 501(c)(3) and 2055(a) of the Code (or
such other similar charitable organization as may be approved by the Committee).

     4. Termination of Year-End Supplemental RSUs and Non-Delivery of Shares.

          (a) Unless the Committee determines otherwise, and except as provided in Paragraphs 3(c), 6,
7, and 9(g), if your Employment terminates for any reason or you otherwise are no longer actively
employed with the Firm, your rights in respect of your Year-End Supplemental RSUs that were
Outstanding but that had not yet become Vested prior to your termination of Employment immediately
shall terminate, such Year-End Supplemental RSUs shall cease to be Outstanding and no Shares shall
be delivered in respect thereof.

          (b) Without limiting the application of Paragraphs 4(c) and 4(e), and subject to Paragraphs
6(b) and 6(c), your rights in respect of the Year-End Supplemental RSUs that are Vested on the Date
of Grant shall terminate, such Outstanding Year-End Supplemental RSUs shall cease to be
Outstanding, and no Shares shall be delivered in respect thereof if, prior to the earlier of
December 31,                or the date on which your Year-End Supplemental RSUs become deliverable following
a Change in Control in accordance with Paragraph 7 hereof, you engage in “Competition.” For
purposes of this Award Agreement, “Competition” means that you (i) form, or acquire a 5% or greater
equity ownership, voting or profit participation interest in, any Competitive Enterprise, or (ii)
associate in any capacity (including, but not limited to, association as an officer, employee,
partner, director, consultant, agent or advisor) with any Competitive Enterprise.

          (c) Unless the Committee determines otherwise, and except as provided in Paragraphs 6 and 7,
your rights in respect of all of your Outstanding Year-End Supplemental RSUs (whether or not
Vested) immediately shall terminate, such Year-End Supplemental RSUs shall cease to be Outstanding
and no Shares shall be delivered in respect thereof if:

               (i) you attempt to have any dispute under the Plan or this Award Agreement resolved in any
manner that is not provided for by Paragraph 12 or Section 3.17 of the Plan;

               (ii) any event that constitutes Cause has occurred;

               (iii) (A) you, in any manner, directly or indirectly, (1) Solicit any Client to transact
business with a Competitive Enterprise or to reduce or refrain from doing any business with the
Firm,

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(2) interfere with or damage (or attempt to interfere with or damage) any relationship between
the Firm and any Client, (3) Solicit any person who is an employee of the Firm to resign from the
Firm or to apply for or accept employment with any Competitive Enterprise or (4) on behalf of
yourself or any person or Competitive Enterprise hire, or participate in the hiring of, any
Selected Firm Personnel or identify, or participate in the identification of, Selected Firm
Personnel for potential hiring, whether as an employee or consultant or otherwise, or (B) Selected
Firm Personnel are Solicited, hired or accepted into partnership, membership or similar status (1)
by a Competitive Enterprise that you form, that bears your name, in which you are a partner, member
or have similar status, or in which you possess or control greater than a de minimis equity
ownership, voting or profit participation or (2) by any Competitive Enterprise where you have, or
are intended to have, direct or indirect managerial or supervisory responsibility for such Selected
Firm Personnel;

               (iv) you fail to certify to GS Inc., in accordance with procedures established by the
Committee, that you have complied, or the Committee determines that you in fact have failed to
comply, with all the terms and conditions of the Plan and this Award Agreement. By accepting the
delivery of Shares under this Award Agreement, you shall be deemed to have represented and
certified at such time that you have complied with all the terms and conditions of the Plan and
this Award Agreement;

               (v) the Committee determines that you failed to meet, in any respect, any obligation you may
have under any agreement between you and the Firm, or any agreement entered into in connection with
your Employment with the Firm, including, without limitation, the Firm’s notice period requirement
applicable to you, any offer letter, employment agreement or any shareholders’ agreement to which
other similarly situated employees of the Firm are a party;

               (vi) as a result of any action brought by you, it is determined that any of the terms or
conditions for delivery of Shares in respect of this Award Agreement are invalid; or

               (vii) your Employment terminates for any reason or you otherwise are no longer actively
employed with the Firm and an entity to which you provide services grants you cash, equity or other
property (whether vested or unvested) to replace, substitute for or otherwise in respect of any
Outstanding Year-End Supplemental RSUs.

For purposes of the foregoing, the term “Selected Firm Personnel” means: (A) any Firm employee or
consultant (1) with whom you personally worked while employed by the Firm, or (2) who at any time
during the year immediately preceding your termination of Employment with the Firm, worked in the
same division in which you worked; and (B) any Managing Director of the Firm.

          (d) For the avoidance of doubt, failure to pay or reimburse the Firm, upon demand, for any
amount you owe to the Firm shall constitute (i) failure to meet an obligation you have under an
agreement referred to in Paragraph 4(c)(v), regardless of whether such obligation arises under a
written agreement, and/or (ii) a material violation of Firm policy constituting Cause referred to
in Paragraph 4(c)(ii).

          (e) Unless the Committee determines otherwise, without limiting any other provision in
Paragraph 4(c), and except as provided in Paragraph 7, if the Committee determines that, during the
Firm’s 2009 fiscal year, you participated in the structuring or marketing of any product or
service, or participated

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on behalf of the Firm or any of its clients in the purchase or sale of any security or other
property, in any case without appropriate consideration of the risk to the Firm or the broader
financial system as a whole (for example, where you have improperly analyzed such risk or where you
have failed sufficiently to raise concerns about such risk) and, as a result of such action or
omission, the Committee determines there has been, or reasonably could be expected to be, a
material adverse impact on the Firm, your business unit or the broader financial system, your
rights in respect of your Year-End Supplemental RSUs awarded as part of this Award (whether or not
Vested) immediately shall terminate, such Year-End Supplemental RSUs shall cease to be Outstanding
and no Shares shall be delivered in respect thereof (and any Shares, Dividend Equivalents, or other
amounts paid or delivered to you in respect of this Award shall be subject to repayment in
accordance with Paragraph 5).

     5. Repayment. The provisions of Section 2.6.3 of the Plan (which requires Award
recipients to repay to the Firm amounts delivered to them if the Committee determines that all
terms and conditions of this Award Agreement in respect of such delivery were not satisfied) shall
apply to this Award.

     6. Extended Absence, Retirement, Downsizing and Approved Termination for Program Analysts.

          (a) Notwithstanding any other provision of this Award Agreement, but subject to Paragraph
6(b), in the event of the termination of your Employment (determined as described in Section 1.2.19
of the Plan) by reason of Extended Absence or Retirement (as defined below), the condition set
forth in Paragraph 4(a) shall be waived with respect to any Year-End Supplemental RSUs that were
Outstanding but that had not yet become Vested immediately prior to such termination of Employment
(as a result of which such Year-End Supplemental RSUs shall become Vested), but all other terms and
conditions of this Award Agreement shall continue to apply. Notwithstanding anything to the
contrary in the Plan or otherwise, “Retirement” means termination of your Employment (other than
for Cause) on or after the Date of Grant at a time when (i) (A) the sum of your age plus years of
service with the Firm (as determined by the Committee in its sole discretion) equals or exceeds 60
and (B) you have completed at least ten (10) years of service with the Firm (as determined by the
Committee in its sole discretion) or, if earlier, (ii) (A) you have attained age 50 and (B) you
have completed at least 5 (five) years of service with the Firm (as determined by the Committee in
its sole discretion).

          (b) Without limiting the application of Paragraphs 4(c) and 4(e), your rights in respect of
your Outstanding Year-End Supplemental RSUs that become Vested in accordance with Paragraph 6(a)
immediately shall terminate, such Outstanding Year-End Supplemental RSUs shall cease to be
Outstanding, and no Shares shall be delivered in respect thereof if, prior to the original Vesting
Date with respect to such Year-End Supplemental RSUs, you engage in Competition. Notwithstanding
the foregoing, unless otherwise determined by the Committee in its discretion, neither this
Paragraph 6(b) nor Paragraph 4(b) will apply to your Outstanding Year-End Supplemental RSUs if your
termination of Employment by reason of Extended Absence or Retirement is characterized by the Firm
as “involuntary” or by “mutual agreement” other than for Cause and if you execute such a general
waiver and release of claims and an agreement to pay any associated tax liability, both as may be
prescribed by the Firm or its designee. No termination of Employment initiated by you, including
any termination claimed to be a “constructive termination” or the like or a termination for good

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reason, will constitute an “involuntary” termination of Employment or a termination of
Employment by “mutual agreement.”

          (c) Notwithstanding any other provision of this Award Agreement and subject to your executing
such general waiver and release of claims and an agreement to pay any associated tax liability,
both as may be prescribed by the Firm or its designee, if your Employment is terminated without
Cause solely by reason of a “downsizing,” the condition set forth in Paragraph 4(a) shall be waived
with respect to your Year-End Supplemental RSUs that were Outstanding but that had not yet become
Vested immediately prior to such termination of Employment (as a result of which such Year-End
Supplemental RSUs shall become Vested) and Paragraph 4(b) shall not apply to your Outstanding
Year-End Supplemental RSUs that are Vested on the Date of Grant, but all other conditions of this
Award Agreement shall continue to apply. Whether or not your Employment is terminated solely by
reason of a “downsizing” shall be determined by the Firm in its sole discretion. No termination of
Employment initiated by you, including any termination claimed to be a “constructive termination”
or the like or a termination for good reason, will be solely by reason of a “downsizing.”

          (d) Notwithstanding any other provision of this Award Agreement, if you are classified by the
Firm as a “program analyst,” and your Employment is terminated without Cause solely by reason of an
“approved termination” with respect to your participation in the program prior to any Vesting Date
specified on your Award Statement, the condition set forth in Paragraph 4(a) shall be waived with
respect to any Year-End Supplemental RSUs that were Outstanding but had not yet become Vested
immediately prior to such termination of Employment (as a result of which such Year-End
Supplemental RSUs shall become Vested) and Paragraph 4(b) shall not apply to your Outstanding
Year-End Supplemental RSUs that are Vested on the Date of Grant, but all other conditions of this
Award Agreement shall continue to apply. Unless otherwise determined by the Committee, for purposes
of this Paragraph 6(d), an “approved termination” shall mean a termination of Employment from the
analyst program where you: (i) successfully complete the analyst program (as determined by the Firm
in its sole discretion), which shall include, but not be limited to, remaining Employed by the Firm
through the analyst program completion date specified by the Firm and (ii) terminate Employment
with the Firm immediately after you complete the analyst program, without any “stay-on” or other
agreement or understanding to continue Employment with the Firm. If you agree to stay with the
Firm as an employee after your analyst program ends and then later terminate Employment, you will
not have an “approved termination.”

     7. Change in Control. Notwithstanding anything to the contrary in this Award
Agreement (except Paragraph 15), in the event a Change in Control shall occur and within 18 months
thereafter the Firm terminates your Employment without Cause or you terminate your Employment for
Good Reason, all Shares underlying your then Outstanding Year-End Supplemental RSUs, whether or not
Vested, shall be delivered.

     8. Dividend Equivalent Rights. Each Year-End Supplemental RSU shall include a
Dividend Equivalent Right. Accordingly, with respect to each of your Outstanding Year-End
Supplemental RSUs, at or after the time of distribution of any regular cash dividend paid by GS
Inc. in respect of a Share the record date for which occurs on or after the Date of Grant, you
shall be entitled to receive an amount (less applicable withholding) equal to such regular dividend
payment as would have been made in respect of the Share underlying such Outstanding Year-End
Supplemental RSU. Payment in respect of a Dividend Equivalent

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Right shall be made only with respect to Year-End Supplemental RSUs that are Outstanding on the
relevant record date. Each Dividend Equivalent Right shall be subject to the provisions of Section
2.8.2 of the Plan.

     9. Certain Additional Terms, Conditions and Agreements.

          (a) The delivery of Shares is conditioned on your satisfaction of any applicable withholding
taxes in accordance with Section 3.2 of the Plan. To the extent permitted by applicable law, the
Firm, in its sole discretion, may require you to provide amounts equal to all or a portion of any
Federal, State, local, foreign or other tax obligations imposed on you or the Firm in connection
with the grant, vesting or delivery of this Award by requiring you to choose between remitting such
amount (i) in cash (or through payroll deduction or otherwise) or (ii) in the form of proceeds from
the Firm’s executing a sale of Shares delivered to you pursuant to this Award. In addition, if you
are an individual with separate employment contracts (at any time during and/or after the Firm’s
               fiscal year), the Firm may, in its sole discretion, require you to provide for a reserve in an
amount the Firm determines is advisable or necessary in connection with any actual, anticipated or
potential tax consequences related to your separate employment contracts by requiring you to choose
between remitting such amount (i) in cash (or through payroll deduction or otherwise) or (ii) in
the form of proceeds from the Firm’s executing a sale of Shares delivered to you pursuant to this
Award (or any other Outstanding Awards under the Plan). In no event, however, shall any choice you
may have under the preceding two sentences determine, or give you any discretion to affect, the
timing of the delivery of Shares or the timing of payment of tax obligations.

          (b) If you are or become a Managing Director, your rights in respect of the Year-End
Supplemental RSUs are conditioned on your becoming a party to any shareholders’ agreement to which
other similarly situated employees of the Firm are a party.

          (c) Your rights in respect of your Year-End Supplemental RSUs are conditioned on the receipt
to the full satisfaction of the Committee of any required consents (as described in Section 3.3 of
the Plan) that the Committee may determine to be necessary or advisable.

          (d) You understand and agree, in accordance with Section 3.3 of the Plan, by accepting this
Award, you have expressly consented to all of the items listed in Section 3.3.3(d) of the Plan,
which are incorporated herein by reference.

          (e) You understand and agree, in accordance with Section 3.22 of the Plan, by accepting this
Award you have agreed to be subject to the Firm’s policies in effect from time to time concerning
trading in Shares and hedging or pledging Shares and equity-based compensation or other awards
(including, without limitation, the Firm’s “Policies With Respect to Transactions Involving GS
Shares, Equity Awards and GS Options by Persons Affiliated with GS Inc.”), and confidential or
proprietary information, and to effect sales of Shares delivered to you in respect of your Year-End
Supplemental RSUs in accordance with such rules and procedures as may be adopted from time to time
with respect to sales of such Shares (which may include, without limitation, restrictions relating
to the timing of sale requests, the manner in which sales are executed, pricing method,
consolidation or aggregation of orders and volume limits determined by the Firm). In addition, you
understand and agree that you shall be responsible for all brokerage costs and other fees or
expenses

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associated with your Year-End Supplemental RSU Award, including without limitation, such brokerage
costs or other fees or expenses in connection with the sale of Shares delivered to you hereunder.

          (f) GS Inc. may affix to Certificates representing Shares issued pursuant to this Award
Agreement any legend that the Committee determines to be necessary or advisable (including to
reflect any restrictions to which you may be subject under a separate agreement with GS Inc.). GS
Inc. may advise the transfer agent to place a stop order against any legended Shares.

          (g) Without limiting the application of Paragraphs 4(c) and 4(e), if:

               (i) your Employment with the Firm terminates solely because you resigned to accept employment
at any U.S. Federal, state or local government, any non-U.S. government, any supranational or
international organization, any self-regulatory organization or any agency, or instrumentality of
any such government or organization, or any other employer determined by the Committee, and as a
result of such employment, your continued holding of your Outstanding Year-End Supplemental RSUs
would result in an actual or perceived conflict of interest (“Conflicted Employment”); or

               (ii) following your termination of Employment other than described in Paragraph 9(g)(i), you
notify the Firm that you have accepted or intend to accept Conflicted Employment at a time when you
continue to hold Outstanding Year-End Supplemental RSUs;

then, in the case of Paragraph 9(g)(i) above only, the condition set forth in Paragraph 4(a) shall
be waived with respect to any Year-End Supplemental RSUs you then hold that had not yet become
Vested (as a result of which such Year-End Supplemental RSUs shall become Vested) and, in the case
of Paragraphs 9(g)(i) and 9(g)(ii) above, at the sole discretion of the Firm, you shall receive
either a lump sum cash payment in respect of, or delivery of Shares underlying, your then
Outstanding Vested Year-End Supplemental RSUs, in each case as soon as practicable after the
Committee has received satisfactory documentation relating to your Conflicted Employment.

          (h) In addition to and without limiting the generality of the provisions of Section 1.3.5 of
the Plan, neither the Firm nor any Covered Person shall have any liability to you or any other
person for any action taken or omitted in respect of this or any other Award.

          (i) You understand and agree that, in the event of your termination of Employment while you
continue to hold outstanding Vested Year-End Supplemental RSUs, you may be required to certify,
from time to time, your compliance with all terms and conditions of the Plan and this Award
Agreement. You understand and agree that (i) it is your responsibility to inform the Firm of any
changes to your address to ensure timely receipt of the certification materials, (ii) you are
responsible for obtaining such certification materials by contacting the Firm if you do not receive
certification materials, and (iii) failure to return properly completed certification materials by
the deadline specified in the certification materials will result in the forfeiture of all of your
outstanding Year-End Supplemental RSUs in accordance with Paragraph 4(c)(iv).

     10. Right of Offset. Except as provided in Paragraph 15(h), the obligation to deliver
Shares under this Award Agreement is subject to Section 3.4 of the Plan, which provides for the
Firm’s right to offset

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against such obligation any outstanding amounts you owe to the Firm and any amounts the Committee
deems appropriate pursuant to any tax equalization policy or agreement.

     11. Amendment. The Committee reserves the right at any time to amend the terms
and conditions set forth in this Award Agreement, and the Board may amend the Plan in any respect;
provided that, notwithstanding the foregoing and Sections 1.3.2(f), 1.3.2(g) and 3.1 of the Plan,
no such amendment shall materially adversely affect your rights and obligations under this Award
Agreement without your consent; and provided further that the Committee expressly reserves its
rights to amend the Award Agreement and the Plan as described in Sections 1.3.2(h)(1), (2) and (4)
of the Plan. Any amendment of this Award Agreement shall be in writing.

     12. Arbitration; Choice of Forum. BY ACCEPTING THIS AWARD, YOU UNDERSTAND AND AGREE
THAT THE ARBITRATION AND CHOICE OF FORUM PROVISIONS SET FORTH IN SECTION 3.17 OF THE PLAN, WHICH
ARE EXPRESSLY INCORPORATED HEREIN BY REFERENCE AND WHICH, AMONG OTHER THINGS, PROVIDE THAT ANY
DISPUTE, CONTROVERSY OR CLAIM BETWEEN THE FIRM AND YOU ARISING OUT OF OR RELATING TO OR CONCERNING
THE PLAN OR THIS AWARD AGREEMENT SHALL BE FINALLY SETTLED BY ARBITRATION IN NEW YORK CITY, PURSUANT
TO THE TERMS MORE FULLY SET FORTH IN SECTION 3.17 OF THE PLAN, SHALL APPLY.

     13. Non-transferability. Except as otherwise may be provided in this Paragraph or as
otherwise may be provided by the Committee, the limitations on transferability set forth in Section
3.5 of the Plan shall apply to this Award. Any purported transfer or assignment in violation of
the provisions of this Paragraph 13 or Section 3.5 of the Plan shall be void. The Committee may
adopt procedures pursuant to which some or all recipients of Year-End Supplemental RSUs may
transfer some or all of their Year-End Supplemental RSUs through a gift for no consideration to any
immediate family member (as determined pursuant to the procedures) or a trust in which the
recipient and/or the recipient’s immediate family members in the aggregate have 100% of the
beneficial interest (as determined pursuant to the procedures).

     14. Governing Law. THIS AWARD SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH
THE LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD TO PRINCIPLES OF CONFLICT OF LAWS.

     15. Compliance of Award Agreement and Plan With Section 409A. The provisions of this
Paragraph 15 apply to you only if you are a United States taxpayer.

          (a) References in this Award Agreement to “Section 409A” refer to Section 409A of the Code,
including any amendments or successor provisions to that Section and any regulations and other
administrative guidance thereunder, in each case as they, from time to time, may be amended or
interpreted through further administrative guidance. This Award Agreement and the Plan provisions
that apply to this Award are intended and shall be construed to comply with Section 409A (including
the requirements applicable to, or the conditions for exemption from treatment as, a “deferral of
compensation” or “deferred compensation” as those terms are defined in the regulations under
Section 409A (“409A deferred compensation”), whether by reason of short-term deferral treatment or
other exceptions or provisions). The Committee shall have full

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authority to give effect to this intent. To the extent necessary to give effect to this
intent, in the case of any conflict or potential inconsistency between the provisions of the Plan
(including, without limitation, Sections 1.3.2 and 2.1 thereof) and this Award Agreement, the
provisions of this Award Agreement shall govern, and in the case of any conflict or potential
inconsistency between this Paragraph 15 and the other provisions of this Award Agreement, this
Paragraph 15 shall govern.

           (b) Delivery of Shares shall not be delayed beyond the date on which all applicable
conditions or restrictions on delivery of Shares in respect of your Year-End Supplemental RSUs
required by this Agreement (including, without limitation, those specified in Paragraphs 3(b) and
(c), 6(b) and (c) (execution of waiver and release of claims and agreement to pay associated tax
liability) and 9 and the consents and other items specified in Section 3.3 of the Plan) are
satisfied, and shall occur by March 15 of the calendar year in which the Delivery Date occurs
unless, in order to permit such conditions or restrictions to be satisfied, the Committee elects,
pursuant to Reg. 1.409A-1(b)(4)(i)(D) or otherwise as may be permitted in accordance with Section
409A, to delay delivery of Shares to a later date within the same calendar year or to such later
date as may be permitted under Section 409A, including, without limitation, Regs. 1.409A-2(b)(7)
(in conjunction with Section 3.21.3 of the Plan pertaining to Code Section 162(m)) and 1.409A-3(d).

          (c) Notwithstanding the provisions of Paragraph 3(b)(iii) and Section 1.3.2(i) of the Plan, to
the extent necessary to comply with Section 409A, any securities, other Awards or other property
that the Firm may deliver in respect of your Year-End Supplemental RSUs shall not have the effect
of deferring delivery or payment, income inclusion, or a substantial risk of forfeiture, beyond the
date on which such delivery, payment or inclusion would occur or such risk of forfeiture would
lapse, with respect to the Shares that would otherwise have been deliverable (unless the Committee
elects a later date for this purpose pursuant to Reg. 1.409A-1(b)(4)(i)(D) or otherwise as may be
permitted under Section 409A, including, without limitation and to the extent applicable, the
subsequent election provisions of Section 409A(a)(4)(C) of the Code and Reg. 1.409A-2(b)).

          (d) Notwithstanding the timing provisions of Paragraph 3(c), the delivery of Shares referred
to therein shall be made after the date of death and during the calendar year that includes the
date of death (or on such later date as may be permitted under Section 409A).

          (e) The timing of delivery or payment pursuant to Paragraph 7 shall occur on the earlier of
(i) the Delivery Date or (ii) a date that is within the calendar year in which the termination of
Employment occurs; provided, however, that, if you are a “specified employee” (as defined by the
Firm in accordance with Section 409A(a)(2)(i)(B) of the Code), delivery shall occur on the earlier
of the Delivery Date or (to the extent required to avoid the imposition of additional tax under
Section 409A) the date that is six months after your termination of Employment (or, if the latter
date is not during a Window Period, the first trading day of the next Window Period). For purposes
of Paragraph 7, references in this Award Agreement to termination of Employment mean a termination
of Employment from the Firm (as defined by the Firm) which is also a separation from service (as
defined by the Firm in accordance with Section 409A).

          (f) Notwithstanding any provision of Paragraph 8 or Section 2.8.2 of the Plan to the contrary,
the Dividend Equivalent Rights with respect to each of your Outstanding Year-End Supplemental RSUs
shall be paid to you within the calendar year that includes the date of distribution of any
corresponding

- 10 -

 

regular cash dividends paid by GS Inc. in respect of a Share the record date for which occurs
on or after the Date of Grant. The payment shall be in an amount (less applicable withholding)
equal to such regular dividend payment as would have been made in respect of the Shares underlying
such Outstanding Year-End Supplemental RSUs.

          (g) The timing of delivery or payment referred to in Paragraph 9(g) shall be the earlier of
(i) the Delivery Date or (ii) a date that is within the calendar year in which the Committee
receives satisfactory documentation relating to your Conflicted Employment, provided that such
delivery or payment shall be made only at such time as, and if and to the extent that it, as
reasonably determined by the Firm, would not result in the imposition of any additional tax to you
under Section 409A.

          (h) Paragraph 10 and Section 3.4 of the Plan shall not apply to Awards that are 409A deferred
compensation.

          (i) Delivery of Shares in respect of any Award may be made, if and to the extent elected by
the Committee, later than the Delivery Date or other date or period specified hereinabove (but, in
the case of any Award that constitutes 409A deferred compensation, only to the extent that the
later delivery is permitted under Section 409A).

          16. Compliance of Award Agreement and Plan with Section 457A. To the extent the
Committee or the Plan’s committee that has been delegated certain authority by the Committee (the
“SIP Committee”) determines that (i) Section 457A of the Code or any guidance promulgated
thereunder (“Section 457A”) requires that, in order to qualify for the short-term deferral
exception from treatment as “deferred compensation” under Section 457A(d)(3)(B) of the Code, the
documents governing an Award must specify that such Award will be delivered within the period set
forth in Section 457(A)(d)(3)(B) of the Code and (ii) all or any portion of this Award is or
becomes subject to Section 457A, this Award Agreement will be deemed to be amended as of the Date
of Grant (as the Committee or the SIP Committee determines necessary or appropriate after
consultation with counsel) to provide that delivery of Year-End Supplemental RSUs will occur no
later than 12 months after the end of the taxable year in which the right to delivery is first no
longer subject to a substantial risk of forfeiture (as defined under Section 457A); provided,
however, that no action or modification will be permitted to the extent that such action or
modification would cause such Award to fail to satisfy the conditions of an applicable exception
from the requirements of Section 409A or otherwise would result in an additional tax imposed under
Section 409A in respect of such Award.

          17. Headings. The headings in this Award Agreement are for the purpose of convenience
only and are not intended to define or limit the construction of the provisions hereof.

- 11 -

 

     IN WITNESS WHEREOF, GS Inc. has caused this Award Agreement to be duly executed and delivered
as of the Date of Grant.

	 	 	 	 	 	 	 
	 	 	THE GOLDMAN SACHS GROUP, INC.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:
	 	 	 	 
	 

	 	Title:
	 	 	 	 

- 12 -exv10wpwp

Exhibit (10)(pp)

Execution Copy

AMENDMENT NO. 18

TO

RECEIVABLES PURCHASE AGREEMENT

          THIS AMENDMENT NO. 18 TO RECEIVABLES PURCHASE AGREEMENT (this “Amendment”) dated as of
February 12, 2010, is entered into among CONSUMERS RECEIVABLES FUNDING II, LLC (“Seller”),
CONSUMERS ENERGY COMPANY, in its capacity as Servicer (in such capacity, the “Servicer”),
FALCON ASSET SECURITIZATION COMPANY LLC (“Falcon”), and JPMORGAN CHASE BANK, N.A. (as
successor by merger to Bank One, NA (Main Office Chicago)) (“JPMorgan”), as a Financial
Institution and as Administrative Agent (in such capacity, the “Administrative Agent”).
Capitalized terms used herein without definition shall have the meanings ascribed thereto in the
“Purchase Agreement” referred to below.

PRELIMINARY STATEMENTS

          A. Reference is made to that certain Receivables Purchase Agreement dated as of May 22, 2003
among Seller, Servicer, Falcon and JPMorgan, as a Financial Institution and the Administrative
Agent (as amended prior to the date hereof and as the same may be further amended, restated,
supplemented or modified from time to time, the “Purchase Agreement”).

          B. The parties hereto have agreed to amend certain provisions of the Purchase Agreement upon
the terms and conditions set forth herein.

     SECTION 1. Amendment. Subject to the satisfaction of the conditions precedent set
forth in Section 3 hereof, the parties hereto hereby agree to amend the Purchase Agreement
as follows:

     (a) Section 7.1(b) of the Purchase Agreement is hereby amended to add the
following clause (ix) after clause (viii):

     (ix) Appointment of Independent Manager. The decision to appoint a new
manager of Seller as the “Independent Manager” for purposes of this Agreement, such
notice to be issued not less than ten (10) days prior to the effective date of such
appointment and to certify that the designated Person satisfies the criteria set
forth in the definition herein of “Independent Manager.”

     (b) Section 7.1(i) of the Purchase Agreement is amended to (i) delete the word
“and” appearing at the end of clause (xii), (ii) delete the “.” appearing at the end of
clause (xiii) and replace it with “; and” and (iii) add the following clause (xiv) after
clause (xiii):

     (xiv) maintain its Certificate of Formation and Limited Liability Company
Agreement in conformity with this Agreement, such that it does not amend, restate,
supplement or otherwise modify its Certificate of Formation or

 

 

Limited Liability Company Agreement in any respect that would impair its ability to comply with the
terms or provisions of any of the Transaction Documents, including, without
limitation, Section 7.1(i) of this Agreement;

     (c) Section 7.1(u) of the Purchase Agreement is deleted and replaced with the
following:

     (u) Certification of Receivables Classification.. In connection with
the delivery of each Monthly Report, the Servicer shall certify to the
Administrative Agent that it has made diligent inquiry and that the accounts
receivable included in such report as Receivables are identified on the books and
records of the Originator and the Seller with the account code “Account 1460000
Customer Receivables” or “Account 1460201 — A/R Other”.

     (d) Section 9.1(f) of the Purchase Agreement is deleted and replaced with the
following:

     (f) As at the end of any Accrual Period:

     (i) the average of the Dilution Ratios as of the end of such Accrual Period and
the two preceding Accrual Periods shall exceed 2.0%, or

     (ii) the average of the Loss-to-Liquidation Ratios as of the end of such
Accrual Period and the two preceding Accrual Periods shall exceed 2.5%, or

     (iii) the average of the Past Due Ratios as of the end of such Accrual Period
and the two preceding Accrual Periods shall exceed (A) 12.0% for any Accrual Period
occurring in May through November of any calendar year or (B) 8.5% for any Accrual
Period occurring in December through April of any calendar year, or

     (iv) the average of the Days Sales Outstanding Ratios as of the end of such
Accrual Period and the two preceding Accrual Periods shall exceed 55 days.

     (e) Section 9.1 of the Purchase Agreement is amended to add the following clause (n)
after clause (m):

     (n) At any time on or after February 12, 2010, any Person shall be appointed as
an Independent Manager of Seller without prior notice thereof having been given to
the Administrative Agent in accordance with Section7.1(b)(ix) or without the
written acknowledgement by the Administrative Agent that such Person conforms, to
the reasonable satisfaction of the Administrative Agent, with the criteria set forth
in the definition herein of “Independent Manager.”

 

 

     (f) Section 10.3 of the Purchase Agreement is hereby deleted in its entirety
and replaced with the following:

     Section 10.3 Increased Cost and Reduced Return. If any Regulatory
Change (i) subjects any Funding Source to any charge or withholding on or with
respect to any Funding Agreement or a Funding Source’s obligations under a Funding
Agreement, or on or with respect to the Receivables, or changes the basis of
taxation of payments to any Funding Source of any amounts payable under any Funding
Agreement (except for changes in the rate of tax on the overall net income of a
Funding Source or taxes excluded by Section 10.1) or (ii) imposes, modifies
or deems applicable any reserve, assessment, insurance charge, special deposit or
similar requirement against assets of, deposits with or for the account of a Funding
Source, or credit extended by a Funding Source pursuant to a Funding Agreement or
(iii) imposes any other condition the result of which is to increase the cost to a
Funding Source of performing its obligations under a Funding Agreement, or to reduce
the rate of return on a Funding Source’s capital as a consequence of its obligations
under a Funding Agreement, or to reduce the amount of any sum received or receivable
by a Funding Source under a Funding Agreement or to require any payment calculated
by reference to the amount of interests or loans held or interest received by it,
then, upon presentation to Seller of a certificate setting forth the basis for such
determination and the additional amounts reasonably determined by the Administrative
Agent to reasonably compensate such Funding Source for the period of up to 90 days
prior to the date on which such certificate is delivered to Seller, Seller shall pay to
the Administrative Agent, for the benefit of the relevant Funding Source, such
amounts charged to such Funding Source or such amounts to otherwise compensate such
Funding Source for such increased cost or such reduction. The term “Regulatory
Change” shall mean (i) the adoption after the date hereof of any applicable law,
rule or regulation (including any applicable law, rule or regulation regarding
capital adequacy) or any change therein after the date hereof, (ii) any change after
the date hereof in the interpretation or administration thereof by any governmental
authority, central bank or comparable agency charged with the interpretation or
administration thereof, or compliance with any request or directive (whether or not
having the force of law) of any such authority, central bank or comparable agency,
or (iii) the compliance, after the date hereof, by any Funding Source with the final
rule titled Risk-Based Capital Guidelines; Capital Adequacy Guidelines; Capital
Maintenance: Regulatory Capital; Impact of Modifications to Generally Accepted
Accounting Principles; Consolidation of Asset-Backed Commercial Paper Programs; and
Other Related Issues, adopted by the United States bank regulatory agencies on
December 15, 2009, or any rules or regulations promulgated in connection therewith
by any such agency.

     (g) Section 10.5 of the Purchase Agreement is hereby deleted in its entirety
and replaced with the following:

 

 

     Section 10.5 Accounting Based Consolidation Event. Upon demand by the
Administrative Agent, Seller shall pay to the Administrative Agent, for the benefit
of the relevant Funding Source, such amounts as such Funding Source reasonably
determines will compensate or reimburse such Funding Source for any (i) fee, expense
or increased cost charged to, incurred or otherwise suffered by such Funding Source,
(ii) reduction in the rate of return on such Funding Source’s capital or reduction
in the amount of any sum received or receivable by such Funding Source or (iii)
internal capital charge or other imputed cost determined by such Funding Source to
be allocable to Seller or the transactions contemplated in this Agreement, in each
case resulting from or in connection with the consolidation, for financial and/or
regulatory accounting purposes, of all or any portion of the assets and liabilities
of Conduit that are subject to this Agreement or any other Transaction Document with
all or any portion of the assets and liabilities of an Funding Source. Amounts under
this Section 10.5 may be demanded at any time without regard to the timing
of issuance of any financial statement by Conduit or by any Funding Source.

     (h) The following new Section 13.18 is hereby added to the Purchase Agreement
immediately following Section 13.17 of the Purchase Agreement.

     Section 13.18 Required Ratings. The Administrative Agent shall have the
right at any time to request that public ratings of the facility evidenced by this
Agreement of at least A-/A3 (the “Required Ratings”) be obtained from two
credit rating agencies acceptable to the Administrative Agent. Each of Seller and
Servicer agree that they shall cooperate with the Administrative Agent’s efforts to
obtain the Required Ratings, and shall provide the Administrative Agent, for
distribution to the applicable credit rating agencies, any information reasonably
requested by such credit rating agencies for purposes of providing the Required
Ratings. Any such request (a “Ratings Request”) shall be in writing, and if
the Required Ratings are not obtained within 60 days following the date of such
Ratings Request (the “Ratings Request Due Date”) (unless the failure to
obtain the Required Ratings is solely the result of the Administrative Agent’s
failure to provide the credit rating agencies with sufficient information to permit
the credit rating agencies to perform their analysis, and is not the result of
Seller or Servicer’s failure to cooperate or provide sufficient information to the
Administrative Agent), (i) upon written notice by the Administrative Agent to Seller
within 90 days after the Ratings Request Due Date, the Amortization Date shall
occur, and (ii) outstanding Capital shall thereafter bear interest at a rate per
annum equal to 2.00% above the Alternate Base Rate. The Administrative Agent or the
relevant Purchasers shall pay the initial fees payable to the credit rating agencies
for providing the Required Ratings.

     (i) Exhibit I to the Purchase Agreement is hereby amended to delete the
definitions “Amortization Date” “Applicable Stress Factor”, “Dilution
Horizon Factor”, “Funding Source”, “Independent Manager”, “Liquidity
Termination Date” and “Receivable” and replace them with the following:

 

 

     “Amortization Date” means the earliest to occur of (i) the day on which
any of the conditions precedent set forth in Section 6.2 are not satisfied,
(ii) the Business Day immediately prior to the occurrence of an Amortization Event
set forth in Section 9.1(d), (iii) the Business Day specified in a written
notice from the Administrative Agent following the occurrence of any other
Amortization Event, (iv) the Liquidity Termination Date, (iv) the date which is at
least fifteen (15) Business Days after the Administrative Agent’s receipt of written
notice from Seller that it wishes to terminate the facility evidenced by this
Agreement, provided that any prepayment resulting from such declaration of the
Amortization Date shall be subject to the provisions of Section 2.1 and (v)
the Business Day specified in a written notice from the Administrative Agent to
Seller in accordance with Section 13.18.

     “Applicable Stress Factor” means 2.25.

     “Dilution Horizon Factor” means, at any time, a fraction, the numerator
of which equals the sum of (a) the aggregate Original Balance of all Billed
Receivables originated during the two most recently ended Accrual Periods and (b)
the aggregate Original Balance of all Unbilled Receivables as of the end of the most
recently ended Accrual Period, and the denominator of which equals the Net
Receivables Balance as of the end of the most recently ended Accrual Period.

     “Funding Source” means (i) any Financial Institution, (ii) any
insurance company, bank or other funding entity providing liquidity, credit
enhancement or back-up purchase support or facilities to Conduit, (iii) any agent,
administrator or manager of Conduit, (iv) any bank holding company in respect of any
of the foregoing or (v) any Conduit or any entity that is consolidated with any
Conduit for financial and/or regulatory accounting purposes.

     “Independent Manager” means, with respect to Seller, a manager who (i)
is not, and within the previous five years was not (except solely by virtue of such
Person’s serving as, or being an Affiliate of any other Person serving as, an
independent director or manager, as applicable, of Consumers or any
bankruptcy-remote special purpose entity that is an Affiliate of Consumers or
Seller,) (a) a stockholder, member, partner, director, officer, employee, Affiliate,
customer, supplier, creditor or independent contractor of, or any Person that has
received any benefit in any form whatever from (other than in such manager’s
capacity as a ratepayer or customer of Consumers in the ordinary course of
business), or any Person that has provided any service in any form whatsoever to, or
any major creditor (or any Affiliate of any major creditor) of, Seller, Consumers,
or any of their Affiliates, or (b) any Person owning beneficially, directly or
indirectly, any outstanding shares of common stock, any limited liability company
interests or any partnership interests, as applicable, of Seller, Consumers or any
of their Affiliates, or of any major creditor (or any Affiliate of any major
creditor) of any of the foregoing, or a stockholder, member, partner,

 

 

director, officer, employee, Affiliate, customer, supplier, creditor or independent contractor
of, or any Person that has received any benefit in any form whatever from (other
than in such Person’s capacity as a ratepayer or customer of Consumers in the
ordinary course of business), or any Person that has provided any service in any
form whatever to, such beneficial owner or any of such beneficial owner’s
Affiliates, or (c) a member of the immediate family of any person described above;
provided that the indirect or beneficial ownership of stock through a mutual
fund or similar diversified investment vehicle with respect to which the owner does
not have discretion or control over the investments held by such diversified
investment vehicle shall not preclude such owner from being an Independent Manager;
(ii) has prior experience as an independent director or independent manager for a
corporation or limited liability company whose charter documents required the
unanimous consent of all independent directors or independent managers, as
applicable, thereof before such corporation or limited liability company could
consent to the institution of bankruptcy or insolvency proceedings against it or
could file a petition seeking relief under any applicable federal or state law
relating to bankruptcy and (iii) has at least three years of employment experience
with one or more entities that provide, in the ordinary course of their respective
businesses, advisory, management or placement services to issuers of securitization
or structured finance instruments, agreements or securities. For purposes of this
definition, “major creditor” shall mean a natural person or business entity to which
Seller, Consumers or any of their Affiliates has outstanding indebtedness for
borrowed money or credit on open account in a sum sufficiently large as would
reasonably be expected to influence the judgment of the proposed Independent Manager
adversely to the interests of Seller when the interests of that Person are adverse
to those of Seller.

     “Liquidity Termination Date” means February 11, 2011.

     “Receivable” means all indebtedness and other obligations owed to
Seller, CRF I or Originator (at the time it arises, and before giving effect to any
transfer or conveyance under the applicable Sale Agreement or hereunder) or in which
Seller, CRF I or Originator has a security interest or other interest, including,
without limitation, any indebtedness, obligation or interest constituting an
account, chattel paper, instrument or general intangible, arising in connection
with the sale of goods, electricity or gas or the rendering of services by
Originator, and which is identified on the books and records of the Originator or
Seller (including its accounting system) with the account code “Account 1460000
Customer Receivables” or “Account 1460201 — A/R Other” (or, in each case, any
subsequent or replacement account code used to identify similar indebtedness or
other similar obligations owed to Seller or Originator), and further includes,
without limitation, the obligation to pay any Finance Charges with respect thereto.
Indebtedness and other rights and obligations arising from any one transaction,
including, without limitation, indebtedness and other rights and obligations
represented by an individual invoice, shall constitute a Receivable separate from a
Receivable consisting of the indebtedness and other rights and

 

 

obligations arising from any other transaction; provided, that any indebtedness, rights or
obligations referred to in the immediately preceding sentence shall be a Receivable
regardless of whether the account debtor, Seller, CRF I or Originator treats such
indebtedness, rights or obligations as a separate payment obligation.
Notwithstanding the foregoing, “Receivable” does not include (i) Transferred
Securitization Property or (ii) the books and records relating solely to the
Transferred Securitization Property; provided that the determination of what
constitutes collections of the Securitization Charges in respect of Transferred
Securitization Property shall be made in accordance with the allocation methodology
specified in Annex 2 to the Servicing Agreement.

     (j) Exhibit I to the Purchase Agreement is hereby amended to delete the
percentage “10%” in clause (i) of the definition of “Dilution Percentage”
and replace it with “6%”.

     (k) Exhibit IV to the Purchase Agreement is hereby replaced in its entirety
with Exhibit IV attached hereto.

     SECTION 2. Representations and Warranties. Each of the Seller and the Servicer hereby
represents and warrants to each of the other parties hereto, as to itself that:

     (a) it has all necessary corporate or company power and authority to execute and
deliver this Amendment and to perform its obligations under the Purchase Agreement as
amended hereby, the execution and delivery of this Amendment and the performance of its
obligations under the Purchase Agreement as amended hereby has been duly authorized by all
necessary corporate or company action on its part and this Amendment constitutes its legal,
valid and binding obligation, enforceable against it in accordance with its terms; and

     (b) on the date hereof, before and after giving effect to this Amendment, (i) other
than as waived pursuant to this Amendment, no Amortization Event or Potential Amortization
Event has occurred and is continuing and (ii) the aggregate Purchaser Interests do not
exceed the Applicable Maximum Purchaser Interest.

     SECTION 3. Conditions Precedent. This Amendment shall become effective on the first
Business Day (the “Effective Date”) on which (i) the Administrative Agent or its counsel
has received four (4) counterpart signature pages to each of this Amendment and the Fee Letter of
even date herewith, in each case, executed by each of the parties hereto and (ii) the
Administrative Agent has received the Amendment Fee (as such term is defined in the Fee Letter).

     SECTION 4. Reference to and Effect on the Transaction Documents.

     (a) Upon the effectiveness of this Amendment, (i) each reference in the Purchase
Agreement to “this Receivables Purchase Agreement”, “this Agreement”, “hereunder”, “hereof”,
“herein” or words of like import shall mean and be a reference to

 

 

the Purchase Agreement as
amended or otherwise modified hereby, and (ii) each reference to the Purchase Agreement in
any other Transaction Document or any other document, instrument or agreement executed
and/or delivered in connection therewith, shall mean and be a reference to the Purchase
Agreement as amended or otherwise modified hereby.

     (b) Except as specifically amended, terminated or otherwise modified above, the terms
and conditions of the Purchase Agreement, of all other Transaction Documents and any other
documents, instruments and agreements executed and/or delivered in connection therewith,
shall remain in full force and effect and are hereby ratified and confirmed.

     (c) The execution, delivery and effectiveness of this Amendment shall not operate as a
waiver of any right, power or remedy of the Administrative Agent or any Purchaser under the
Purchase Agreement or any other Transaction Document or any other document, instrument or
agreement executed in connection therewith, nor constitute a waiver of any provision
contained therein.

     SECTION 5. Execution in Counterparts. This Amendment may be executed in any number of
counterparts and by different parties hereto in separate counterparts, each of which when so
executed and delivered shall be deemed to be an original and all of which taken together shall
constitute but one and the same instrument. Delivery of an executed counterpart of a signature page
to this Amendment by facsimile or other electronic format shall be effective as delivery of a
manually executed counterpart of this Amendment.

     SECTION 6. Governing Law. THIS AMENDMENT SHALL BE GOVERNED AND CONSTRUED IN ACCORDANCE
WITH THE INTERNAL LAWS (INCLUDING, WITHOUT LIMITATION, SECTION 5-1401 OF THE GENERAL OBLIGATIONS
LAW OF NEW YORK, BUT OTHERWISE WITHOUT REGARD TO THE LAW OF CONFLICTS) OF THE STATE OF NEW YORK,
BUT GIVING EFFECT TO FEDERAL LAWS APPLICABLE TO NATIONAL BANKS.

     SECTION 7. Headings. Section headings in this Amendment are included herein for
convenience of reference only and shall not constitute a part of this Amendment for any other
purpose.

     SECTION 8. Fees and Expenses. Seller hereby confirms its agreement to pay on demand
all reasonable costs and expenses of the Administrative Agent or Purchasers in connection with the
preparation, execution and delivery of this Amendment and any of the other instruments, documents
and agreements to be executed and/or delivered in connection herewith, including, without
limitation, the reasonable fees and out-of-pocket expenses of counsel to the Administrative Agent
or Purchasers with respect thereto.

[Remainder of Page Deliberately Left Blank]

 

 

          IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed by
their respective officers as of the date first above written.

	 	 	 	 	 
	 	CONSUMERS RECEIVABLES FUNDING II, LLC

 	 
	 	By:  	/s/ Laura L. Mountcastle
 	 
	 	 	Name:  	Laura L. Mountcastle 	 
	 	 	Title:  	President, Chief Executive Officer, Chief
Financial Officer and Treasurer 	 
	 
	 	CONSUMERS ENERGY COMPANY, as Servicer

 	 
	 	By:  	/s/ Laura L. Mountcastle
 	 
	 	 	Name:  	Laura L. Mountcastle 	 
	 	 	Title:  	Vice President and Treasurer 	 

Signature Page to Amendment No. 18

 

 

	 	 	 	 	 
	 	FALCON ASSET SECURITIZATION COMPANY LLC

 	 
	 	By:  	JPMorgan Chase Bank, N.A., its attorney-in-fact
 	 
	 	 	 
	 	By:  	                             /s/ Patrick Menichillo
 	 
	 	 	Name:  	Patrick Menichillo 	 
	 	 	Title:  	Vice President 	 
	 
	 	JPMORGAN CHASE BANK, N.A., as a Financial

Institution and Administrative Agent

 	 
	 	By:  	         /s/ Patrick Menichillo
 	 
	 	 	Name:  	Patrick Menichillo 	 
	 	 	Title:  	Vice President 	 

Signature Page to Amendment No. 18

 

 

EXHIBIT IV

NAMES OF COLLECTION BANKS; COLLECTION ACCOUNTS; LOCK-BOXES

JP Morgan Chase Bank

717 Travis, TX2-S084

Houston, TX 77002

Contact: Nina Lacy

Phone: 713-216-2227

Collection Account: 1242263

Comerica Bank

500 Woodward Avenue, 9th Floor, MC3268

Detroit, MI 48226

Contact: Stacie McVeigh

Phone: 313-222-4515

Collection Account: 1076119914

Bank of America

540 W Madison St, Suite 1622

Chicago, IL 60661

Contact: Gabrielle Serrao

Phone: 800-699-7188 ext. 49452

Specified Accounts: 4825285820

Collection Account: 1054516142

Wachovia Bank

10401 Deerwood Park Blvd — FL0117

South Building, 3rd Floor

Jacksonville, FL 32256

Contact: Carol Grant

Phone: 800-590-7868 team 662 ext. 4

Collection Account: 2000032635920

Lock-Box Zip Code

Lansing, MI 48937-0001

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