C.

-OI\I PAN

Y AG

()Ir

R IJE I\,I

ENl'

{).I'C CA PIl'AI, PAIT-NtiRS. T,I.C

1'ltis C'onrpany Agrccttrcnt (this "ilgrecmenf") of O'I't'Capital l)rtrcrs. LI-('. a Colordo linilsd liahility conpany (thc"conqtun)")) datcd as ()l'April 26,2013 (thc,.L.llectivc L)atc"). is cxccutc<J and agrcctl to by the Mcnrbcrs (as dcfned ir scction 2.f ), 'l'hc initial Menrhcrs ol'thc Cornpany arc OTC Iloldings, LLCI, a Colorado linlitccl liability corlpay ("OTC l{oldings.'). alrcl Ravcnloocl l-loldings, I-],C, a 'Icxas linlircd liahility colpan),,

:i;
Organization. the cxecll"ion aud {ling tlrcrcot. and alt othcr acts of"thc organizcr ol'the Conrpan, rvith rcspccl to thc ltlmralion of thc. Cotrtpont prior to ancl including thcatc of this Agrccrircn. arc hcrcby approvcd. ratifecl arrd conlmrecl by thc Mcmbers,

Fonl-r;tlion. 'l'hc C'onrrany has hecn firnlrcd s a Colorad<l tinritccl liability conlpeny by tlrc lling of thc Articlcs of' Organization ol' t!r: Cnrpany (thc "Articles if Or4cnizotiorr") with tltc Sccrctary ol' Statc ol C<lloraclo under and pu'surt to thr-. Cl.lo.ad. Lirrlitcd i.iability Company Act (as anicnctccl {iont tisc ro ritlrc" th; ,'Cl,C,4"), part of tt-: ctllorado Rcl'isecl statutcs (as anrendcd fiom tinrc t() tinrc. thc "cs'). Thc Aniclc.s of'

l.l

1.2 Nantc. Thc namc of'thc Company is "O'f'('Capital Partrrcrs. Ll-C" anrl alf Contpany lsiress nrust lrc corrduclcd in that nantc or such othcnio,lr.s; that nray be sclccretl bv the' Mcrrbcrs ard that comply rvith applicablc lau,.
I '3 Rugis.tercd Olicc: Rcgis-tcrcd AS:nt: Ollccs. 'the rcgistcrcd ofTcr.r alcl rcgistcrcd agcntol'thcCornrany in thc Statc o{'Clorado sai tte as spccilicd in te Arriclcs o{' Organization or as dcsignatcd by thc lVlcnrbcrs ir thc nlanucl pmvidc by applicablc larv. '[hr: oll;ccs,ol'thc Collpalty shall trc'at such rlaccs as thc Mcnrtcn rnay clcsignarc.vhic ncccl rol hc ir thc Statc olColomdo.

Putposcs. Thc turposc ol'thc Cortrparry is to cngagc irr arry larv'ul busincss frr .., I4 $'lticlt linlitcd liability cotttpanies nay Lngagc in uriticithc C'LLA, [.]nlesicxrressly lirnitccl by any provision of'this Agrcerncnt. the Ccrtifcatc r' thc Cl-t-C'A. thc C'orparry shall havc all powers granted to limitcd liability conrpanics organizcd unclcr thc CLLCA.

forcign Oualilication. Prior to the Cornpany's conclucring lrusinr:ss in arry .iurisdiction otller than Cotorado, thc Clonrpany shalt .n*piy, to thc cxtJnt procc<lurcs are available ancl thosc ttattcrs arc rcrsonably within the cntrol ol the C'ompany. r'ith all rcquirctncnts ncccssary to qualify thc Corlpany as a ficreign limitcd tiability .rnpony in thar .iurisclicliorl. At thc tcqucst o{'thc Company, cach Mcnrbcr slrall cxccutc. ackrrorvlcclgc. irvcar to. ancl dcliver all certilcatcs antl ol,hcr instnuncnts conltrnning with this Agrcer'cnt thar ar.c nccessry or appropriatc to quality, coutirtuc, and terminate the Cornpany aia fbrcign limitccl r i .l liability conrpany in all such jursclicti nray conduct [rusiness.

1.5

IA

EXHIBIT

l
prjl'sri{
J

[ l0 l.hc j]r'ovisions

'l'cnl1, l-hc C'ortrlany's eristcrrcc shnll bc rcrpctrral unlcss it is car.lie :' tciriiecl
rl f'

l.his A slcclicnL.

.4Rl'tcLFl'twO
MEMII!8$.1IP:-IIISIQSIIIQNs 2
O.t

lNl-lrRsl'S

Me nrbe

inelivjdLrals ol.ntitins

Pcrson thal is hereaficr rclmillct to the Company as i r'lcurcr.i rcoLonc,: with this Agrccnrcnt. 'l'hc '9arurrg rlarrri' (lrclcin so callcd repl.csenting rhc 1.L,la1iv0 pcrccnrrgc owncrsrip inlorust l'ach inif.ial Mcnllicr s sct l.orth on lxi;l ..

d tich

s: sharing Rol. 'r'he nrcnlhers of trrc cclmran, (,.ifencrr,r,,") lrc trrc ("pcnons") xccuting this r\grcontcn{ as r1. tlic ritc het.ol.as ntelrtrrs

Mcnrbcr nny or lnakr: r sa.rer, frlnslcr, ctillr'+yc, gil't, urchange, or olhrr disposition (voluntarily, involuntarily. rir by opcratiou r:l hr u,) ('lD!osl.'r?") or: al) or auy porrion of i1s rgrs ni int"resi in tllc, Cortrlrany ("fitlevthe*hp lnurcs!"), olher thau a. Disxrsiton resultingl ftonr i.hc dcarh ol. i Me'nibcr tl4lo is n nclivjclul, cxcepl rvilh thc conscirt. ol' the Mcub'crs. clcutaieJ n,itoL,t rcl'crencc ro an.v Menrbrrs irlcr-cstd in such DispnsiLi.r. A'y 11*rprd Dispositio ol aJI rrr. nny por:ticur ol a Menrbershi: l rcrcsr, cther than in srrict ,cco,.d*c" *jtl, tl.,i* I"eli J.2, ..l,nlr Lrc: rujl .rntl void a[ iniLjo" unt] srrnl nor bc rccognizcd by trrc (omrany ot. o7lra crllu,r. a Person to r'vhom a l\4cmborship lrlerest is Dispoictl lincliulilg as a r-esirlt of t de r of.an irldividLral Menrber') ntay trc aelnriticcl to Lhc Corrrpany as o Menrber only q,ith the consent of.thc lVlanag*rs ancl all oJ'tho ir4cnrbcrs; !rc cach Mclmbei's cnsclt r'ry bc given or rvjthhcltl in the Mcnrbcr's sole and nbsolure tiiscr'ctiorl. 1r ny rclso' r L.,,r ,r,r" rcas',, ancr sujcct: to sucr.r condjtions as it shall dccnr aproprinL: ("sale iiscreran,'). In councctin rvith any'Iriipe516 ol a-\4smbership lntcrcst or au5, poltin thercol arrd any arlission ola rssigircc ,, u :tl"rn"r. tlte l\4einbcr making such Dispositiorr ard l}e assignec sball lurnish te Mcnrbcrs with Lrll such doctlnents legarcling rhe Disposition as t.hc Merrbcr, nlay rcquesr (irr lur an(l sulstance stisiclot) t0 lhc Mclrtbcl's). tlhicl: rlv irclLrtlc a copy Lrl'ihe Dispor-itipn inslrurrieni, r rafllcition bv the assigncc ollltis glccrucnt (if th ossig,r.' is to bc driritrccl as a Mcnrber). a lcgal opinion ihat llic Dis:osil.ion conpies u,th aFplicabie lederal and st(e sccuritics lar.1,s. 6,1 a_lcgal opilirin that the Disposifion u,ill n<lr,cs,,li. irr. thc Conrauy,s r_ol1jnrien undcr Sctin 708 of thc rtoml RL'velue c'rrd.'ol lgt6 (rs air'ndcd tiom rime to t rne, thc,,f*d ,.j.
lssignnLlL.

'2'2 Di$ssrr!Dl-a{*r4slsr$:-lirsrgsl. \

:1,3 Erutthtnces . Mcnlbr r.1;i) t{lL plutlgu. rrlglgc. sulieL{ l0 a scc:rrrit' intcrcsl. ol lion. or'ttlicrrqisc circunrrer' (vuluirr:rr.ily, ;"i.irii"riy", ,. rry opcl'iill of law) all or anr porlion of l.s Membcrsirip ltrcst \,!ithort thri unnir.ous .arrr of' thc
4elrrcls.
(l1ealjcxr. of' AdtriLi"onrrl-ftpr!qsrurl1q$, Ac<itonar \4eniborsrrip .nrcrcsrs may bo crcatctl cl issued to olhct Pesons, nu oro, pcrsons iray bc anriuJ rL ttre (orn:an-y a.s_Monrbsl. rpon thr Lrnanimous apI.oval ol lho orher Mcnbes, Thc A4cmbers may rcJlcct thc acfurission ornn)'lrw Menrircs r:r ii1e creation of any nerv crass or grour of Mumbe* ilt in aulcdllrcnt lo this gro,rntcn cxccutd lly lJrc Ir4enbcni.

2'4

*.h

Ntl,WltL{ta\1!l. A Mcmlrq. d.os nof. C:onrpany or to lcdcenl its inl:rcsr n th Con!)1ly,

...

2.5

hav*

th.e

right to

.,rhdrrrv

lior

(hr:

Alcctllctlt. cach Mcmbcl'is cntitld to rll inforntlitn to u,hich lhnl. lVlonrbcr is clltirlcrj tr. Irrvc ccss pll'stllt Lo 'ecion 7-80-4oti ol'thc LlllS rrnclcr Lhc cirrunrsirnces tud. iub.icct fo thc coDditions fhoreiI staied.
l,ialili1' 1o flr!.-l*r.ti$, No lr4cmhcr shall hc liahlc l'ol tlic rlcbts. oLrligatirns, or IiahiliLics olihe conrany. inclucing undcr a.judgiJrcrlt. rlccrce cr orclcr of our.r.

(t .tJ!nUtt ln ad<lilion tr Lhr r'ihcr r-ights spcrifcally scr f'orlh in hs

:!.7

1.8 ?'9
s a i-csLt

llxUqlfjq!], A lr4cnrbcr ulay ntit be cxpelccl liul tlc Conrpany.

$llotlsos of Mcrhes. Sportscs

spousc's arilal ntct ert il the Cir'rnrpany, il'an1,, 1s all o1'rhc fer.ms hcr.col

ol srtch rrrirrilal rclaLionshrp. Prior to admtssio as Mcnlber. nv individual shrl sLblttit l,r lhc (.ollxv r rlltl. ,rrly cL'c{cd slorrsul rrrtrscr)t srrl,icctirrj sltch M!'ntl)cr''s
I{T'ILE

of

inclividual Mcnlbcrs do not bcconre Merbor-s

lI{RIII

c^nTAl- c0NTlillulloNs
3. 1 Initil Co tribul()rs. Contcnrporaneousy rvith thc .\ccutin by lhc Me rhcrs ol' this Agrccmettt. OTC l-loldings. I-LCI conlrrs thL ir hrs bcen assignccl all cquity (rrr:Lon andlor pr clerLed srock) of Cillir. Inc. hcld by O,IC: Capilal parlneri, t_LC, ptoijd; tnnrsd liabiiity compan), irnd rhir ir shrll D^kc i.hc confibutins to th conrpany (-cuptl Litnlt'utans") rlcscribcd in rjlis Ar,rc|l Ll. An), cunent orvncrship by O1.Cl'l-tolclings. I"l..C: rl its 11liatcs, ol'' cquL, (cotunron irntllor pt cf'err:cd sfock) of'Cdllit. lic., a Nrva ci,rlioration, shati imnrcdiately be con'ibrtcd trl thc Ccirlpany. Anr litu,* l""*tpl. oleqLrity oiCrilljt. lnc.. ly O'l'Cl l'foltlilgs, LLC or itr alliiatcs, shrlJ immcdiately be rontr.iiruict t Lire Conrpan,. 16 Mcnrbcrs and lhsir sl.fliatcs intcnd thl uny orvtclship oi Grillir. lrrc, ancl arry vaiue ieivc diler:t! linnt any of the Mernbcrs' associrtiolr wil;h G;l. }nc., unlc.ss ,y ruiual corscrr. Lr ou,ncd. held. ar:ci ultinratcly distr-iburcd by the Co pln),. OTC Holdings. LLC acknor.vlctgurs and_.aglces tbat ptluat lo thc tonplelin nf ihc shnrc cxchangc ogremonl. by ancl !ctr,ecn olilli1 lrrc, (th acquirjng compa-ny) and t{crrlthy and'l-asty ventlres. I-LC: {th,-, taigcr. copan,), thlt Rvcnrvood Aclvisors, LLC has ful.ly carner'l its 13% ol'tle nrcn:rbership i.rlsrcsts ol thc {'orlpanv lt is aclr.nowcdgerl arrd agrced lhai. Ravcnwood lnergy. I-.I-,c niay provi<ie orher tltlitionl sr'vices lo OTC foldings" t,Lll, Grillir^ lnc, and rroriurs ritrcr rclre pairi*s an sucli sqrvjccs shr.|l bc compens;rte<l soparsli) nd apart Iiom this Agrcemeut.

Advarrccs-bl Msmbers. If thc Cornpany docs rrot have sullcient 1sh 10 ftnd ils oerations o to py its obligations. any Menrber(sj al nlav agle fo do so r,ir thcr co)lsenl ol' thp otlrcr Membc:s nray aclt rutce all or part ol'tlrc lreeded trntls to o on blrhal.f'oj'thc C:onpay, i1 such illtecst l'fe and on such ofhcr l(}ns as such \4cmber. At aclvance clesc|ibcct il this Scctinn conslifttes a loln l"om thc Mernber to lhc Cornpnny ancl is not n Capital Contrilrutill.
.

3'2

,r{l{'l'lctllI Fot}R
D_lS_t-R"UUll0t\ AN"!l=C,A_.ION$
DrS1flb1lllt)ns. J.)istribrrtions shrll be nt;rrle t ihe h4citrbers. to lhc ctcrtt pcrnriftccl {r.l iihi l4 holls) urcln leccpl. oI r'occetis fk)nr slocrli lrrokcr.agc ilccotll1'li Oth'fh:n stock brokcrng tcunts. dislriLrtions sh:ll bc nl;rlc tti thc \4crlrer:,^:rr such l.inc"^ rnd in such imor)tts as t.hc Mi:Ibers t]lay ilclnitc.

irv Lhc CS, inlltediately

4.1

4.2
hcrct0.

clcducl.ion shll

Allocatirlns. For cach lscal year. itcms oi' (irnrpan, incomc, gain. loss atrrl br allocafccl ro rhc Mericrs pu.rinr ro thc pl.o\;isions ol'rxt-#it li altrcbc(l ATT:ilCLI' FIVN

4NAEM!,{I

5,1

Managemenlly_!!1!g.

Wthilr ttc auflrorit.y gmntcd pLruiuant to lhc '1'LLCL, 'l.llOC aurJ thc 1ns ltrve thc cortrplcte :crrvol and authorit\/ t l.llnag nd opcrtc thc Colltpany an<i ntakc all decisions afl'cctirrg t busincss ntl rllails of thc Couriani,.

(.)

of'this Agteenrcnt, te Mertrbcrs shall

lrr nranaging thc btrsircss and flairs of'tre Conrany nnd cxci'cisig irs Jlo\/cls, Maority in Intcrcst (as delncd bclorvJ ol'the 4cnrbcls shall ct iolcurv*ly rhrough Lsohttiolts rclopfut at ntcclingr rud in u,il1ct cor)souts pulsuarir ro thu rcnrs uf rhis t.tjcle \, through duy nppoinled corntrtlec's ns srcciiec in Section 5.(r. and rJrougr iudivi<hrl [4cllrbcrs to whol rtlfhrites and rlutir:s llav* !ecjr explicitly clclcgatcd pur.suant lrr"iectitu 5,{r, Dxcorr: as .\ct forlh r1 sLcl a dclcrgatolr of,aut.hority, no Menlber has thc iight, powcr. or authoritr to act liu. rt'rn bchrlf'of'the Conrpany or1o dr: iuty acl ai would bc bnding on thrl Cnplty. Dcisionr or ilctions takcn by rc Mcntbem in accol'dancc with ths Agrcncnt shall constiiuLc dtlcsi1r* n .tos by thc Comparty ane shll bc hindirrg on e.ach li4angcr', lr4cnlbcr'. Ol'fccr, and eurllo),c'e of thc Clourlralry.

(i,)

s'2 -\1lc1urg5--al Mcr:lbcrs, .l{cgtlar ntcul.ings oJ th* l\4eillcrs 1l0y bc ed 1r .\rcir . rlales rtd al ruch titncs as shall be rletcrmined lry tlrc r4cnrhels. $pcciai nrectngs ol thc Mourbcrs rjloy be called by il]/ \4cber tly notice thereo (speclying the plac* ancl tini olfsuch nrcctitrg) tlrat is de livcrsd to cach olher I\4 rrbc lt rsl 72 liours-prior.to iuch mccring. Neither. lhe lusiness to tre Llaltsacte(l lt. nor Lb :urpose ol, sLrch speciol nieeling nccrl be specicd n thc nol.ice (i.l' r'aivci. nl notice ) thcrcol.
Itnrios (a "Mnjority in lnrclesi"), rc:r'escnr.ecl eithol in lrcrson .r. by proxy. slnll constjturc qllorun Ior the tmnsaciion olbrtsilss, and au act ola Mjor.ity in lnicrcst sllll :e tlrr: lct ill'fhr Membcm.

Jiltr lty-llq Mcnrtcrs. tJuless otlerwisc rxpressly provideil in this gn::crng t, 'lcist at any mceli.ng ol lhe Merrbers, Meurl:ers hokling anrorrg thcnr 1 a ma.iorily of'a Sar.ing

-t.3

-5,'{ -s.'L-(!:urt1c,r:il*M--qd)qr-#.t!galql-a{.:ilLarr4, io tnrrtivirluai-iV!lbcls. Mcmbctr nay tlesiguate onc or nrorc coinmi ccs, ca,,h ot't\4riijr ilall bcffiisc<i ot'one nrrc cl'thc Mcnlhers or ollccr, rlnr1:!rr's c' directo's oI rc Mcurbers, ancl nrav tlesignarc 'r l or lll oJ-1he 4cnlbcrs ls llntate rncnrtrcr'.r t)l'any r:rr:rniril.e. [:xcr'rt lrr.rr"t,"r* ,nn, cn1ol. trc dclcgateci lo stch ;r tollrrirtcc purrr.rirnt lo thc'l-l,LCtl-- any suclt cotnrriltci, t() {hr xtcnl plovidd Lhcr lcso]ution cstablirJring it, shll havc nnd mry cxcr.cisc all ol rhc uthorit:v Ihat,may be oxcrciscd by thc Mcnl)cts. l{egual and spcciRl nrcc{.ir4is of'such coltittcc shall l>e hcLd in ihe tnanrrct clesgnatcd by thc i\4enrlicrs s or, il'nol so cleiignated, by sLrch corlnritlce. 'fhc Mcmbcrs may clissolvc any contnrirtec a1 any tirrc. ln ddjLion, he \rlenibors y dqlegrle l olle or nrOtc Mclbcrs such aLthority and r:lutics, auil ar*sign to thi] riuch riLles, as Lill3 Mcnrbeni nray dce,r advisablc, Any suclr dcleatio' nray bJ rcvokcd r ny rinlr l.)y rhr i\4c'rn!6s. lor purroscs ol t.unning th day i.o da1,-!ur;,.,.". f th,: corllpany. the tlcmbcrs agrce tbal fhc nranagentent oontlllitf.cc is hcrchy fonucrl. llach menlbc'r, hcrelry aipoirts,.ldi Elf'cnbein ad Dr:lrnis Mcl,lrrghiifi, 1. ian:r lh copany, thr.orrgh rris r.ur:rilicc.
'T'hc

the nlanagonlerl

5.'5 . 5'li

eomrcnsaliti. 'l'hc' Mcmbcrs oflhe Compan,.

lll'r'isions

slrrll

rrccivc n compen$ltion lbr. thcr sgrvices ir

Mclrhes, ar any conxnittce

Alligalilq to-ll Mstiij$,. h cor:ncclion witr ny nrrcliug ol tllr ol (hc N{ brs, the fbllowing provisions slull appiy:

(a) Plce-Elv!ig, An,5u" nreetng shall be hccl r rhc prncipol :lir:c gl of lhe (.lrPany. unlcrss thc niic ol'sut-h meciirrg (or rcsolu{ion ni th" M"nil.,"l* .,,. conln:itlec, as applicalilc) specfics a d if'[:r'cn t. lacc. which cecl not b* i thc Stt ol ( olor'ario.
Lrusincss

wi\/er of' Nof i-ce 'r'hrouqr ttendnc. Aitcndanc* ol pcrson L $^uch nrooLing (icluding by tclcllhon or video curfe.l.encc) slalllonstitut.s a waive,. ol.nrlticc of such nrlting, cxrepl rvher'c stch PL'rson altcnd:i thc nr:cting lor fhc *xpress lrurposc of objccririg ro the tttlsaction ofany irusincss ou t.hc gr:ound that thc rir-eeting is noi larviilly'ca llcd or corlyoneci,
.IrfAl5, pelson nly volr: al such nrcctiug by a rvr.itl.cn proliy cxcctcd Ferson atxl delivcrcd to nolhcl Menbc, or nlerlrber of thJcomrt,tec, o, ,t "ppri.u1,r" llrox)/ sh$ll bc cvocabic nuless it is sutcd to bc irrevocahlc.

(b)

. b,v that

(c)

Acl.urly_I-I ttctlftnsc.nj. A.ny action rcruir.ctl or pcrnitted to bu raken t arJ nccting of the Mcnlbars or r:l.any collrrllce thercol mn, be taken withorrt a mecriDg, '\'ithout pl'irlr loticc. ttd rviLhnut a voLr if' Menrbr:s oL nrenrler s of 1l{: onlnliltec. as the caso may be. iraving nof. lb.rver thIr tl ninimurr nllber ol'sharing l{afios nr. votes tlit rvnulci lc $ectssry to lakc the lclion 1 a ntcclittg at whicl alI Mcnrbqs or menrtrer.s ol'thc uormiftec. as apl:licable, euti1ld fo vol on the nctioi rverc preserr Rd \,orr:d, couscnl thfielo in ,*ir,g n,' lry tiecto,lic lt'an-snii ssion, antl sroh $.rilir:g or writings or lmnsrnissin 0r lrasnlissions *-* t1" with tlie miirrtes of proccetlings I'the nretings rr'ire Mcn.bcrs or.rom.lrtc.

(d)

() McetilBs bv Trl.l:hrnc, Menlbers r'rlcnbrs ol'the comrlittc. s npplicablc' !11y larticipt!' in anrJ holtl .suclt nrecting lry mcnns of ocnl'ceno rclcphone. vtlooconl'crencc- ol' simil.al comm.urications cquipnrnt by mcnrrs of' u,hich ll person.s p&rliiFating r trc mce l:ing ciin hear cach othcr,

(.qlfli-i!1S_.01. Jn rcLcsr. tubjcct l{r fhc ofhcr 6xl)rcss l)t.ovsiorrs oj.lliis Agretnent. cach Mcnlbcr. oJccr, rr ailliaLc (hcloof miy cri[age. iu nu posicss intr.ests in 61hr 6usincss vtrnfurcs of" any. zttrd c'crv t,pc atrd tlcsct iption, i:rriccnclen tly or with otirers. inclrrdirrg oncs in cL,tlpciilion u'ith rhc C'onirarty, rvth no obltglrirr to ()fl'l. irc c'onrpany or rny othcri\4cnrbcr or Oicci tllc right t p:ll'tic'ipatc fhc L'o'p'nv nrty trarsct bsirrcss ,it.h any _thcrein, fulcrlbr":r, Oflcr'. or Afiil1o thcreol plovidccl tlc tornrs ol'iloscruusctirirs rr nLl rj1r;rirlly {css livorablc rhl rl()sc the cnnrrauy c..oulcl obtin l-onr unreltcti thir.ri parrics,

. 5.7

Brcach ni'Irducirrv DLly, uy ucnbcl thal shall acl as a nrrrnngilrg rcrlber shll,hai'e a fitluciar'-v duty to lhc olhcr non-uranaging nrcnrtrc.rs, Such dutics shall includc bul not bc. linlitd to pr-oviding liurcly accr;runling 'ol'* all ictivitis reliled to 11" *ffiny.s erpcnditrrre'ri lnc tccci:ts^ and Llre tinrcly disinbul.iIr ol(lrr.. sanrc. In thc cvcnt thal the urnnagi.g tcnlbcr fils 1(] carry oul thcse.dutje's, lhis shil costifule glounds f'oi.reuroval ol'thc nrar:aging sra l l'c lcplcccl by tic other urcubcr. Suci rlercrminarion cn be rrrua tiy rtrc :]::]ll:'l ]l]i i)r lhc ('i)]J)rn\, lrd .rr other.'rur lrcr ,l (' rc'rr)cr ourcr o I I loJdings. I L( (( rlorado).

. 5:9 hrdcmnification: Rcirbulqgul!-Dl-ql' fixpgrNq: lnsrrance. To the li1rcsf *xrc'r pcnnittctl by tht CLl.ClA: (a) tlre Conrpany shall iileriry cach jt4cnrbq u4ro r.r,as, is. or s thrcxtncal to .lrc lare a prty io lny thr'o,rtcne.r, pcn.rng. or conprted aolion, sLril. ,r rrncecding "1'rocditrg"r, any appcal rhcrein, or airy iriqiiry or invcsrigariori ri"ri",i"r,y 'r.nti.r; the tct.. L' lenso ol thc iacr. that h,.' .r' sirc is or' \v.s ('b) rhc corirpar, ir,,oii , fo, ,.,,. rcinrbunc, lvlenrbcr 1b:: cxpcnss ircufld try hinr ol her (i) n at]vncc o tnu niarisf,*iiio, a P'oceccling to ri'rridr such Mcr'rer,,,ns. is, n, is rrrrctened to "r bc ma<ie o po,ry, inJ iiil u "r,. conection u'irh his or hsr ipFralan0e as a u,irness or. fhcr plr1iLipation in any #rqc.Ju, conpany shall indunruity and atvance xpcnse$ tc., n oirjc,cr t'th" ctuniany to rl,,c.exLcnt 'ot rcqu.ircd ln do so bv c cl'r-c.,\ o' Lrlhei appricabrc law. Thc Lroruprny, t i ,JntrL;oo . rssolu'ion o[ thc Membcr.s. mzry inrcmniry nd- dvancc expenses rn on c)fficr. a',rprny.*, o. flgenl. of1]]c Cortlpany fo thc $us exlcnt aird subjccL t thc sonre ctrnditiors untl,rr rvhlch"it. nray y,.rircc cxprses io Mcnrtrers unor tho ;rocecding scnrcnce. .ftr" p,o,,isinns nf ll*'l:t-:,i11 lf l{)l hc cxclusilc of an' lnls cctt{ln slll othcr righl under any Iaw. rr.ovisio ol'tic Artclcs olOr-ganizalion r this .A$.ronenl, agccnclt, ol. othcrwsg, b. {tn4rou, _ry prroi**.'nna ruairt(ai. ^su'*cc ro prorect irs$if' aud nny Memtrer. offic,:r, empr,r., J. ig*,,i-"1 ,lr. Corlpny, u4tcthcr or not the Ciorl:any ,vc,ul h,,e Lbc porve to indemuil_v such pcrsor rLnrjsr
_

ih is S('ct iolr

^tRT'tct-ti
']AXE$

slx

"i'hc Mcrbers (t l shall contply r'vilh ll lelevn( fcdcul, stal*. a.rd local t\ rvith the plovisiorir of Islrihit B truircl;d h(rctu.

i\.vs nd

."rR'f'tc.t_E sEvuN !T.'LICEBS

tlc Mcnlbcrs.

Ollccrs. 'fhc Mcrlrbcrs ttv dcsigrratc onr or morc l)csos tt 6e ol'f iccrs rll'te Cotttparty ("OJficcrs")' Any Ofljcr,r ntay lrc rclltr,e,cl as such. cithc. rvirh or q,ilort

7.1

cauSc.. 6,

Auihority. All Ollrccrs of thc ('onrpany shall havrr such porr.cr.s and authoritv. sulrjcct to thc direction atlcJ control of'lhc Mcnrbcrs, anri shall pcrfbnn sucr ttics i'r .n,,n"|in, rvith thc l1angcntt ol'tlt'btsircss ancl aflairs ot'thc Conrpany. as ar(r clc,tcnllinccl lronr tinlc to tiltrc by rcsolution ol'thc ltfculbcr.s.
ol'thc Olliccrs ol'thc C'onrratty shall bc lxccl fiori iur. ,n tinrc b1, thc Mcrbcrs. 'flrc Oflccrs of' thc C'onrpany shall bc entitlctl [o pronpt rcinrburscnrort ol all rrsorablc out-lrpockct cxpcnscs incurrcd in thc courrsc ol'thc rcrl'orrancc of thcir cluties. ART'ICLN EIGIIT

7.2

7,3.fltr":salailcstll.orhcI-col.t1l)cnsati0l

Tltc books and rccords shall bc nlaintaincd ,,vitlr rcsrcct [o accountine nrttcrs in accorclancc u,ith sound ccotlltillg pmcticcs, ancl all books and roorsls shall bc availablc at fhc (.onrpany.s rrincipal olTicr-r fbr cxaminrtion by any lv{ernbcr or lhc Membt.r's cluly euthorized rcprcsentativc at r1y ard all rcasonablc' tilrrcs during normal lrusincss horrs.

Mailtcllatlcc ol'Books, 'fhc Menrbers shall kccr or.causc to bcr kept t thc ollicc o[ thc.Conrpany cotnpl(rc ancl accuratc books rnd rccords ol- thc C:or:any. rrincipal suppol'ting docultclltation tlf' tltc t'ansactions n,ifh rcspcct to thc conducl of the C'c,nrpanyls busilcss. and tinutcs ol'thc procccclings ol- its Mcrrbcis rnd cach colnnrittct of'thc Mcnlhcrs.

8.1

8'2 Rerorts, Withirl scvcnty-lvc clays after thc cncl of' cach taxablc ,c.,., ,t.r. Ivlcltbcrs shall causc trl be sert to cach Mcrnbc.i et th cnd of thc taxahlc year c.o*rplctc accoutltil'lg ol'thc lnaltcal afirs of'the C'onrpany l'or thc taxablc ycar thcn erdc, 8'3 Accounts. l-he Menlbers shall cstablisl orc or- norc scparatc. bank, stock brokcragc, and invcstrtent ccounls ancl arrangcntents lbr thc Cornpany. u,hich shall hc maintaincd in thc Conrpany's namc with tinancrl institutions ancl lirns that thc Mcllrbcm dctcrminc. Thc Mcrlrbrs nay not cornrringlc tlrc Company's lunds rvith lhc llnds sl'any Mcnll:cr' online logirt crcclcntials to all such accounts sntl " inlnrccliatc.ll, (within 24 6urs) \ -'J clistributccl to all Mcnrbcrs upon thcircstablishment. (.al
a Nevada corroratiott. solcly lltrough accounts o,.,,ned and nranagcd try thc Conrpany. This inchdcs' but is rlot limitecl to. salcs of thc conmon stock ol:Grliit, tnc. owncd by thc Cornpany._ln the cvcnt any procccds arc dcrivcd l'om salcs of any cquitics of Grilit. lnc. by any afliliate ol'thc Companv then such procccds shall bs split arnng rrrc rlcmbcrs as spr:cilcd pcr thc sharirrg rarions wihin thc attachcd I.;hibit A.

'fhc Mcnlbers shall pcrf'onn any cquity transactions rclatccl to Grillit. Inc..

AIIIT{.]LII

NT}JT

wtNplNc

LIP

AND l.HRMtNjAt.tgN

9,1
o:cLrr

rct:trlsunrsl&jndjrlg!]t,
Slrbject to Scction 9. I (b). lhc C]oripany shall bc rvound up u]on. (he lirsr ro 1rllor.ving clc.nts;

(a)

olthc

(i) (jij

thc unrninrous conscL ol'thrl Menrbcls;

trc dcarh, cxi:rulsion, r_vithdrrv1, dissolurion" or anlinqrtcy ol an, It4cnrbcr. ot thc oL:culrctlcc r-rl- any olle r vcnt thar Lclminfcs lhe cttttlinuci] nrcmbcrihip ol'any Mcnlcr ilr thc Cclnrparry; or

(iii)

cntry ol'a.juclicial onlcr u,inding up thc Conrpany.

(bl lf'an eveut dcscribcd n subpnragrarh (ii) of Soction 9.1(a) shll occur rrrj llcre hl bc 1 lst two olher N4enrbcrs renrairrirrg, the Corrrpi:ury shall not'ir. lt,outl up, an the. busncss ol the (-'ompany shzrll be continuctl, jl all ol' thu lcrininng Mcm6cr.s icalcirlatcrl rvlhoLrt l'ef'ercnce io any Msnrbcl rvitlr rcspecl. to rvhonl such cvent. dcsiribcd in subparagraph (ii) hns occurrcdl so aglee u'ithin 90 clays olthc ocqrurctce of,such ven(. (cl As uscd hr:rcin, thc: tcnrr "$nrlpf' shall ntcn. wit spcc( t dny (i) such l}crson (A) makes a gcneral assignrneut lor lhe bcnclli 6l'creditors; (Il) filcs a volu,ltiy banknrpLcy psl.ition; (C) beconrcs thc .subjocL ol'an rrclcr 1'ol: rclicl'or is ccla:tl insoh'cnf. in. a'y lcdcral ()r st1c b'kru.ptr.:y or insolvoncy proccedin.gs; (il) 1lcs t)etitiol 0r
Pcrsan, {ltnt

lol such Fet'son a rcorgatrization, rurangcr.nnt, compc,siri,rn.. rcrrdjusrrnelt, liquidation. dissolution, or siurilal rcliel'under any applicale law (E) filcs an :lswel o r rg. plcading adruilting or lhiling [o contrlst tltc rnrtcrial allegutions of z peritio llecl agninst such P-crrscn a pxrcccding ol'ihc lyp{r clcsclibccj in subclause"r () lrr.ougi (D) o1' rhis (i): cliuse or _in (Ij)"sceks' conscnts.t, or cLtiescos in lhe appoiufirrcrri o1- Lrusi.ccl ,*.iu*r, til iquidator.of sLrclt Pcrson's or ol al or rny substnnial part ol"such pcion,s prol:crrics; or. (ii) agrinsr such -reJtl.ustrlenr, l>r's. proccccling see!ing leorgarr izaton, arangcnient, compositiorr, liqtticlalion, ilissolution, or similar relicl uur.lcr- any applicailo lar'has bcen conrnrcncej ati 30 dtys havc expired *,i{hotrt dsurissal thercol-or rviili repcct Lo which. r,ith6Lrt su1r pcso,s conscnt or acquicscencc" i l,1r.sl.r:, rsccivcr, 0r liqLridat<lr' crl'such pcrsort ot ol all or. urry subs{anl-ial Parl of stcb }crson's !roportics ls bccn appninri anr'l g0 days havc cxpirerl wirout tho appointnen('s havitg teen vacatcd or sfnyecl,
nswcr seeking

9.!
elo.tion is

Wintlng Up
1n.ad 10

a_id

l':l'llinotion.

conlruc thc husin.ess l'the corLlrny #Dliu.nr ro sccrin g.l(b), thc Mc'lllbcrs -shall. act as.liqtli{nl\,r {rr nlry ippoinr ()nc (,r'n;olc l\4r thcrs as IrrrirIIrIor.; p,oui,l",i. l\vcVtr, thlt (y) n MellbL'r \vitl respcct. to wholx an cvott desfiibed in subpa,graph liil ot' Scctinn 9lfa)9.I(a) has occurlctl shll srve as io acL wir any o rcr llerson as) * tiquintor, eithcl in its capaciry ns a Membe and (z) if'npplioation olthe f.oregoug ctause'y ,,rrru i,

(a) O ihe orcrn.cnce of an vcnl dscrihd i. Scclion 9,1(a)_ uncss I.n

no liquidator'" thcn thc liquidalor- shn be sclcctcrj rr), a \4:rjr,rr.i11, rntoresr ('t:alcularcd rvirhuut {o anr \,,1;!g rclir.rcl tt in such clausci(r-l). .l'irc liqLridttoL su.rll 'clernce proci':cd dilrgcntJy to u'intl ur thc af'liirs l'flc Clonrpny as l'ovidcrl in ihe (.'l,l-C, l.jnril inrl distl itrution. Lhe liqutlntor shll conlinuc- to orcrate tirc Cbnrrirny pr.opcrtics \\,ith illl l'1h pow..r and authorr.' of Lhc M,'trcrs, 'rh cosrs ol'windiug up shoti t c'bonrc s a col.nl)r.n)/ cr)rs{:,

Lhclc being

ol lbr u,hiclr thc Conrpan, has conr:liftcrl dist'ibution cl cash aurJ/or p,'.p.,.ty i.o a lr4cnrbcr in accoldtcc.u'ith thc .provisioirs ol' .is Scclion g.2(b) conslirutcs * *u.rpt*t" u1 t thc \'lenrbcr' l' its capital Contributions an, u cor'lpcte tlistril:ti to tirc l\4cnrber- of. iLs Mernbcrshir lntcrcsf and nll dre (on:panv,s prnpcrtl, and collifitutcs a comprontisc t rvhirh .ll MenLrcrs ha's corscnrccl rvirJrin tirc.rcvanirrg ollcction l0r,l54 ol tht'. cl,r-ilA,
rrio' to lhe darc .l'rcrnirari.n,

Any asscts o'fhc ()onr:any rcuroining t fhL. corlclusion 1'1hc u,indig u1: clccss sh:rll b dist bttcl anion thc i\4enlbers accoliluce with llcir Sharing Rltios, AII P: tistlibulions irr kind to the 4cnhcls shll bc nracle sulr.iect tci thc liability trf each d;rr.ibutcc lbr

(b)

il

cos[s, L'-tpnscs. and iabilities thriitlbld ilcLr'ed -l-he

(c) On ctlpletion r:1 such final. distlibul.inn. the MerLrcrs shal lile a Cerlifica{e ol'l'erminaton u,ith thc Secrotry ol'$tate ol.Coloraclo and takc such otllcl. octions ss r;r) hc rrcussary to tc.lti Utc thc cristcllcc ol'tic ( inlpany. 9"1 No Rssrol'ation .1- rJcrcir eD.!!!gounts, No Mcnrbc. shail bc roqurctr to pay fo thL.Corlp ly, lo ny othor Mcntlrcl.r to ily thir.d rarr, any tlefcl blarc thll. llrrv cxist l-onr tinr:1o iinrc in ai:y ctpir.al or sinrilar accourit r'jinL;r;.d loi sLrcl, Mcnrh,"lL tir. ;;;y';;'rp"."
/TRTICLltr 'llN
ENER-AI., PROVISIQNS

10.i. Oftiel, Whcncvcr the Comlraly is to pa, ny sul1.l to any Merlber, rny itrounts that 4cnrbcl ox,cs thc C.nlpatry ntay be coclucred holr ihar sum belrre pay:rcnt,

? !!re Aql'onlctlt. 'lhis greenerlt constitutcs th entil.e agreenrnt of- the rl$tng lo the Coml)any at:tl. supeisilclcs all prior conrracts or atree.rrenrs with l:specr fo rhc (rrupanr,. tv hctl cl. orij I {,r \vr.ittc,t.
l\4

'rllber s

l0

. 10-3 Elc.l, of WaiY;er or ("Q$sc[! A wivur or corsent. cxprcss or nrplicd. to or of any brcch.or <lofaulr tr.v any penon in rhc 1:r:rronlarrcc hy rhat persn or ils ort ig;;io;,s \,jth rsFcct 10 titc Company is rt consent or wiiver to ol ol any othcr.trrench or dJhult iu rho pcrl'onuance by tlni Person of ihe are r an)/ othef obligarions ol.thal pcrson ,vrh n:specr ro rils {:otn!lny.
.,groonlcnt, this ,A'greenrcnt is hnding olr and inu'es Lo the beneljt lcspccfi\ hirsr legal rcrrcsen tativc.\!. suJccssots. ancl assigns.

10

Birding Ell'qql. Sulrjecl Lo lhc rcsrrictions on Disposrins ret f'nrr i lhis of rhe Melntrcrs ancl thcil.

oi'cmr1el4\,; $vclrbitit,rr. 'l-hs .Agrecmcnr shrll be governe<l b], the law ol AgLce*c'rlor the apprication. irerc'f to il-y pcr.qon or ircrjrnstlce is hcld invlid or turcfcrccable ttr tny ."t",,,r, rh .cnrainler ol, this Agrcuient anil
{lre sta{c of ''exas.. J 1'an' provision orths

10.5

l.hirt

trc appliclition oI that plovison i ollr Pcrsois or cilctrurstrrces is :ror afl'cctcrj thcev and provision shall Lrc crrlorcd lo thc grctst cxr*rt pci1.rifttd by n;plicablc l.ru,.

l0'rj .Lt119!1$urucgs. li1 nnoclion u,jth fhis A!reurcul. an< thc frnsar:iiors c0nlenr:latcrl hcr.eby, cach lt4crrbet shull cxccutc antl clelit,cr any ilddtion$l crcrnis ad ir]slruillonl.s and petlbntr an, additiolal acls fhat nray be ncrrcssary or. arpr npr.iate to llrctuatc :incl :cr:lblm thc plovisions ol lhis r\grcenrcrrt ntl thosc trarlsilLtions.
Cloutclprts, 'l'hts AgrcemenL tuay lre cxccu{.cd in anv nrnlrcr . - ll '7sh:rll llI ol'ulrit.h coll,,titutc thc srillc illsirrulcnt.
IS i gn
u lr r

"l- oultr])arrs,

p u ge./it I l otr:.;J

IN \Vll-NLIS \VFll{lt0F. thc Mcnrbcrs

lr st

htvc cxccutcd hiri Agrccnrcnt

rs

srl f'oflh bove.

ol'tho d,itc

MI]MI]I]IIS:
O]'C IIOI,DINGS, LL(

By:
Nanc:

.:.'

...:....r,r,,,i1l

RA VL]N

WO.ODj.J0LDINCS. LLC

llY: j\\lr'll:l

rirr.r::

iffi***l-

1'&c

l-:__-_

.lN1I'ttttu P.ra,

EXII.II}I]'A lr'il A r. l\{lil\( B Iils

lnitial
lalne rrd ,ttf dress O'fC I.loldings. l.,l.C'
lavenr,tlocl
:f

Cepitnl Contribution
s77
$?-l

Sharing l{atio

oldingr-. I..i,C'

2t%,

IrX:l

llllll ll

Al,L{}cA'ilOi\s otr t R()lt1'5 dNt) t.,!;slrs AND o'I'ltEI{'f,4.x M.,l't'{'als

.l-his

Ilxhili1 I (the "'.t/rilrr") scts fbrlh cerhin provisions sddrcssilrg the allodarrotl ol'

C.'ompauy rrolits and Iossos and oll]er tx r1ltcls. a$ r.r,el I s l'clevalt rle{nitons, f(u :ructscs of I.hc L-nnrranr Agrccnrenl ol'IC (apital Parltcrs, l,L,(l (the ",4greenrcnt').

II{TICl-ll ()NIl

Dr]'N]IlQ],!
I
.

f,!laiplllnitions. AII capilalizcd [cns uscd hcrcir.r shall havc thc mearrings
ol as Iollov,s:

!,isgncd 1r: thcnl in llt grecmcll

"rli sled CqlirI Acunl' llcrnr thc blancc in cacl Merbsr''s Capilal ccount. as ol' the e,nd ol caoh liscal Ycar" aflct rllaki g thc lrrllorving adiustmcnts: (iJ iucleasc Lhc Capitrrl Acrourt try auy ainounts that s .N4cbcr is uncoldtoually olrligarotl to testore or. i.s elcenrcd oLrligatcd lt fcstorr pursuntt 10 Ihe ltrnultitrar scttcncs of IreasLrr, Icgulaotrs $S 't.7042(g)(1) and 1,704-2(ix5l, and. (j) dccreascr the Capital .Accunt by t arl1unt t)f anr i1cg dcscrilcd in 'nca"suly Rogularions \s\ I .704- 1(hxz)(iixdx4), (5) nd (6), This for.egong is ntendcd 1o conrPly with 'freasury lLegualio:rs $ .704-f (hx2xii)(d) and sroll bc iutrrrrercd corlsistc tly thcro$,fh.

''(upilal ,4cctunf' scLtox I o1l rhs llxhibir.

'l'r casury RegLrlatiols,

Ieans th accounl cslblishcci l'or cach Mnlber piu.sunt i()

"Conrytan lllinmum C1" has rhc urealing se{

lbrrl in

Sectjon l.?04-2(bt(l) ol rhc

"Ilepreculott'' rncans" {lr any ssol. tr any fiscal ycar or olJ.rcr plrriod, an amounf eqrill fo the dcptecation, atnorfial.iorl or o ler cosl rccovry dccluctjor allotvable l'or' lbtlclal illconre lax Pu{roset wirh spect Lo t ssi. lbr liscal ycir, exccFf that il' the Gross Asset Vahe of n asset dill#rs lion its adiusled basis I'or f'ei1al i.ncome tx puo$cs at I.he bcginning ol such fiscal ycar'. ln such case, Depreciation shall lrc an anrount that bcals Lhc sanre ratit ti] lhc Gro$s \sset Valuc ol tat assct rtt. ]e brginuing of such fiscal )/ear as rhe ldern] nconte lax derrecillion. nnrort'i;ration, or ohel'cost r\/cry dodrrcton allowrbie lbr tlt a.ssot liu such yrr.a l''eitrs to l.h adjLrstcd iar basis ol fll;l tssct ut thc heginning rrf srrch 'err, lf the lirleral inconrc tx dptcitjn, rinfli?!io , or other cost rc.{}\/ry dcduction allwatrl.e fx any asset fir sucr 'czrr s zeto, thetr Depreciation liir that asscf: shall bc dctennined with telbre)rce to such begiuning Gross Assel Valuc usirig any rcascuabls l:rcthod sclocted by the Membcrs.
"Grss lss1 ilnc" nrcaus, uitr rcrspcct to any 8ss1., lhc assr:l,s adustd basis for ledcral incolre lrx pulloscs, xcpl .s sr:l fol.fh below;

L'onrrarry

slllll bc th-r gross

{1)

delcnincd bv thc collttibLrrilrg Menrber and the (.'onrrary.

l'hc initial Cjloo-s ssct Valur:: o1'any ssr.-t contribt.rtccl by a 14cnr6rr-to tlrr l"ail nl:-kcl rrnluc {.f llil t-\sct ol the dt of dclcnr ir-rrlon. r!i

(1, l'hc Coss As'el. Valucs ol all Clolpany asscts shall bc adjstctl kr cqLral ihcir r'nss fi' rlrltet. valLcs. as rlcLcnr jrrcd 1i), t.he Mcmbcs, s ollthc lo orving Lrrcs: (i) ,i.hc acquisitiorr olatr atlditional intelest in thc Conrrany by y r, or exisring lr4enrl]er n e*rangc fr rnorc than a r/ nrlrrinil. colrtl-bu(ion erf'nrtlncy or'oth;[ propclty to tlte capital of' Cnrany: (ii) thc distlibtion by the company f.o a rctring or co tinuing Mcmbcr of nror.c than i .J /???lr?rr ar]runt ol' propcrLlr as consitlcrition for rn rlercsr in rhc Loi.nra ,; and (ii) the liqr:iciation o1'rhc Conpany rvithjn rhc nrcaning oJ'ScrLion L ?04_ I (lX?X ii)ig) lt-thc .l.",rsury legulafions; p|ovircr, ho\\'cv', lhat adjusrrcnts pur.su:1lll to causes (i) aild (ii) bvo shall be nratlc only if' thc Menlbcrs t:asonahly dctclnrinc tht sucl atl.jusrmcnls or" ,r"""arory ,a1. appropliate to rellect" tlts relativc cc{)no lic itll.crcsts of thc M cl.:llr,3rs jn the (lupanv.
l'hc Cross Assc! Value ol any Comlany assef, tlisil.ihutecl it: anr Mcniber shall bc fhe gross rlir rarkc'i o| such uso"r on ih" ,lur ordisrriburioD.
(onrparry assers Asser Vrues bc increa,seci (or. deccased) 10reflct ny cliut;trllonl to th adjustcd basis t'ri suc.h rsset pursuanl, to Cbdc Scction 734(!) (c Scclion 743(b) of'the Cocle, trut only to thc cxtcnt lht sLch arljus!cuts rrLr uk)n into accorul. irr dctcr-urirring capital .Ac..counts prr$unf to scctir L704-l (ilx2.)(iv)(nr ) ol.rrr: 1easu|y Regulatirrs aud Sccton 3.2(" ol'rhi",{ lxhihil; h,,,r,cv., tha 6oss Assot I.u\,itlcti. \rlues. shall nt hc diusled prrsu t to rls subparagrph (d) 1o rhe oxienr thc. l\4en:[rcm rictei'minc lhat n adiusllnelil pttlsuanl. lcl subparagi-aph (tr) atrovc is rlocessarJ i:r aprrriotc connecttln rvth a tl'a:rsaction lbal would othcrrvise result ili a rdiustnrcr;t puriuani. r,; ris subparaglaph (rJ). It'the Gtoss Assol Vluc ol'an assc( hs becn tletcr.rincd ,r. oh;u.t,rJ pr,,ruuo,

(cl

(d)

'alue

lhc (h'nss

.I'

sh*

i,

Losscs.

t tluscs ia)' (tr) or (d) abovo, sucrr (oss Asscl Vale i;ha[ lercarrer bc adjustc by rc Depreciatitx tahtn ilfo accotnl with respecl rc suoh asset ior :urposcs of cor.lputig prof';ts an<l "ll'Icner Mnhnum Gir" nteart.s Lorlpauy mininrunl gain attlibulablc trl Mcmbc' dcbl as dct:rlincd undcr. l]e rulcs rf Section ),704-2(i) ol' the T.reasury

r1()r'tr')coursc

IcgrrIa.tions.

''lT{etter Nontccoarse
thc lieasury Rcgulations.

l)edudori"

has thc nreanirrg ser fbrrh in Secliorr

J.70a-2(iXl) of,

. .,"Met.tbersk, k errt" mcans all ol tllc irtercsrs ol a Membcr in thc c,ourany. ncluding, without Iimitation, righls to ciistritrutiors. alloclors, infbnrrarir:n and rcpofs. aicl t,r vot, colsnt or .pprovo! as detenincd by tJre Sharing latio sct l'or1h opposit.c cach Mcrlbcr,s nanrc. fu &rh!#it A.
1.704-2(c)

"l\tonrecorse Deinctons" has lhe

ole'l

easury Rr:gulalions,

'rca''g

sor 1'orrrr

in sectios r.704-2(bxr)

anc.

ard "I,s.srr" n-rcan, lor circh sca.l vear o olhcr periocl, arr urounl equal lo thc Con:pany's taxblc incomc or Loss lor sLrch yoar'or pcriori. dtenirecl in accordan.cc r.vi1h

*Profi.ts"

scction 70-(1.) of rhc cbdc ii'or this purllosc, all rtcnrs ol incornc. gan, oss, or deducrio rcqLrilcd to trc sratcd sclllrltLly l)urs r-rt lo Scclion ?()3(a)(l) of'thc Cirlr: shll br., iuctudccj in taxbic ittconlc or'loss). lut r,th thc fllloq,g ucljustrtrenl,s lor srch l"isoal y].r)r othct-llcr-iod:
.Any incotttc ol'thc C:oipany lhat is cxcmpt fionl [:rlcral inconre rx ns 70-5(a)( IXB) iind ro1 olhrr\\,isc okn inr.i:r arcorr in c6rrLrLig Prcfits rnil l,ossgs purcuanl. 1.o this tlc-llition ol "ll'ollts" and "Losscs" shnll be rtltlsd to slch tirxfil)ic iltcotle or l.0sr*.
tJescrihcd

(e)

irl Code Sccliou

such txble inconc ol. loss,

An), e*O.ndt,ur.s oltfie Company clcscrihetl jn Clodc Sccritn 705(al(2;(Il nl'tcrtcd ss CotJe Secir:n 705(aX2')(.tl) cxpcntlilur.es put.s,trnt Lo T.eiLsuly Rcgulat.ions Scriorr I'704 l(bx?Xiv)(i) dircctly r'l:r.ting to Llrc Corrrar,y's t,rsts ol maintainingiits b:okcrage accur1t (i c trrokcragc lccs, lanslir agcnt l#cs. et.) rn(l nol orlon+isc {alitri i1111's6nl irr i,orlputig Prtrllts td l-osscti pursuant to this dclnitron of "Profits" ad "/.s.s:,r" shll be subtractccj liorri

(1)

Gross Assct Value olany Clon:any asset is adjusfccl pursunl to this t.hc amount nl'sttch atliuslmoit shall be lakcn nto accoun{ ns gain oi loss li-onr rhc rlisposi.tion ol'such assei for purposus of conrputing prolts or Lossss,

llxhibit,

(S) ll'

(h) Gain or loss resulting lorir any ciispositon ol.propert, ivith rcspect fo .. rvhich gan i:u )oss is tecoInizct for ledolal inconre rax pu,io*.* shal bc computotl hy rci'cr:ence to the Cross Assel Valuc of the plopelty risposcd of , nor's,ithstanding that rlrc justcd a tax t.,a,ujs olthe properly dillbl-s liom lhc Gr.oss Assr:t Vhe ol'th propsrty.
tahcl ito

(i)

accor.nl in con:llrl.ing suclr taxablc iloornqtrr loss. rhore Dcplccation fbr such lscal year, or othcr.psr.iod.

In iicu of thc r.lcrltcton lol tlcprcciation. cost rccovcr). or.3norti:rti shll be iakcn ito :ccor1r

O Nlwithstandig any olhcr provision cf' th.is Exhibil, av lcnrs ihai re qrccia]ly llocatlrd pi,lrrrtlnl. to Secliorr 3,2 ol f.hjs Exhibit shall nrt bc taken inro ccounr as txblc inolc or loss lbr ruroscs of co .putitg prclits and Lesses,
"Tretut!, Rcguktttns" mes thc rcguhr.ionr pr:olrlgted by th* united sttc$ ^ Deparlttlcnt of tlre'llcasury pttsuul 1o rrd jn rcspeut. li.rt.ovisins ofihe Inrenlal lqvcnro code. Atl. relercnccs hercin i,o sections of' thc 'fr.casury Regu.laiionl shall include any torresporldig rtrrvision (,r pi'()visios ()l succcc(liril. .'intilar. rrbstilrLc. pr,r,r*c,i ,rr: lir,rl frcasrtr' J{cgulatirrns. ARTTCI,E TWO
CAP]]-AI. AC(I]NTS

2.1 capitql Accounrs, conrpany shal cstbrisrr a.d mairrain a separn.c c'alital Account l'rr each Menrber, Iach Capl ,Accorrrt shall be maintaile,l in accor-tiance rvitji tlrc
l'ollowin g provisi.or:ls
I

(a) Ilach Merbcr's capital AecoLrnr shair rr+ incrcaser.r hy (i) rhc Gro!s As11 value ul- propcrry contribrted [:y sLrch Mcnrber to c<imrany (not of liabiiities scud by lte

doDtl-ihutcd properly lh;f tlre (bnrpany is consirlercci fo ssunc or takc srrbjt:cr to uder Sccton 752 ol thc Codc). (ii) sLrch 4cmbr:-r's distr-ihr1ivt: shar: tl'Polts ancl (ii) any ir.crrrs i Lir: nalurc of itcolle or qairr tat alc sper:ially allocntcd to such Mctllcr,

(b) Iiach Mcnrber''s {laptal Account shll bc dcclcascd by (i) rlc rnrount of tnd lhc Gross Asscl Valuc oli ay olhcr: plopLrtty distl-il.ut<l to such Mcnrl:crr. put.stIl to any provisiotr of- thr"r Aglcculerl r- tiris llxhitril (n,it of liabilitjes sccur(jd by thcr tlilributecl propcrly fhaf thc Mclnbcr is consido.cd t ssuto or l:ak rtliell to ultdcr Scction 75? r:l tlic t'oclc), (i) such Mcrnbcr's ilistlibuLn,c sharc ol ,Jct Lrss ancl (iii) itcnrs ol'io"-s autl icdLrcLion
cash thal arc s:cciall, allocarcd to such lr4crbcr.
ittlcrest-s

oitlc

(c) ach l\4cmbcr sltall havc rr singlc Capital Account tht rclJlcts all of its in Corrrparty, rcgardes:; of' rc class ol ntcres{ owncd hy such !lctbcr nrrcl rcgar'lcss Lire ol l.llanncr ilr rvllich such itrterosls werc acqrrircd. (d)

lf- all rl' a portion of intcrcst in re Crinrpany is li.rns{'cn.ed in accot'dncc rvLh lhc lerns of'the Agr e'motrt, 1hc tansl'elc slill succscd to rlic Capitnl .Acr:outt ol thc tarsi'ctor to the xlcnl tlrc Capital Accornt rclal.cri lo ihe transl'crred iiltercst. 'T'rc tbrcgoing rtovisions and thc ofhe| prorisions ol'the Agrcemcnt }d (his lixhibir rclating to thc llinlcanc& ol Capital Accounts arc irtended ro cmply w.irh Sccrion l 704-1(b)(2)(iv) ol' thc 'l'rcasuty RcgulatLrns and shll b inteipreted anr appliecl iu a. malluer cortsistonf wiih sucll
l'rcasury l{cgulations. RT'ICLIT TI{RT,E

ALIC4lllONS

3.1

Allocarions ol'Pro lt alld.l-oss.

(J !of.j1r. Altcr giving ct:c[ ro r.hc allocnlitlns set lirth in Sccljon 1.2 ol.rhis xhitrif, Profts frl any [scal ,car or other rerirrcl shll bc lJocated as Iillows;
lrsr. in an aggr.lgtc antounl eclal 1o, ancl il proportirl ro, rh or fho sgg'rgtc Losscs :r'c'iously allocatrd l)ursrnf to scqlion. 3,ll) ovcr r.hc pr.ofirs allocalcd pulsuarit 10 this g!qff-]J1f 1nril such cxcss is reduccd io roro;
x,css

("

ncxt, iu an aggrlJgu.c url(unr qul to. antl jn prlloriin to. tltc oxress J'thc aggrcgatr: l.osses :r'eviously allooatcd pusuanl to Srctio Ll([.l) ovct-thc p:olts alocated pursuanl. to this Scctjon 3. I ia,)lii), until. such cxcoss i-\ reduccd l zcro; anLl

(ii)

(iiil
Mcntbclship lnleresls,

thcrcal-tcr,

to thc

4entbe's

i'

propoflio' to thci

rspecrivc

L,ASes. Suirject. tr: dro linitaton Seclion 3.1("c) of this lxbibir. Losscs shall bc allocalsd lo thc Mo.rb,ru in pr-ororfiou to ther r.espccriv.l Mcnbership lntcrcsts,

(b)

it

allocr(cd to thc l\4nlbers

(r) WJ=!S$ J'hr l_.osscs nllocatcd l)ursulrr fo Scctio,1_(!1 hcr.col. shall ntr cxcct-d rc ulaxinlullr amounl ol I. ossr'r tht L:r bc- so rrlLc:atcd rvithouf carrsing any l\4erlber. ro have a deficit halance i its ,Ad,iuslcd Capila Accounr at {jlc encl fan, t1.," r"ar. ln [lc cvctll some but rll all olthe Mcnrhsrs u,ould hvc dcficit balaces in ihcir Adj usll:tl Cpitl s collscqucns ol atr allocalion ol Losscs putsun1 to Scctinn 3.'l(b) hercol thc Iitnitrtion ^.cccunl,-\ sct lrth in this $!Elt!4_3J(e) shalJ bc applicd on t Mcnrbr b, Mcmbcr lrasis so as ro llocate th.c lxirlrun pelnrissibl* I-osscs t cach l\4cnrbcr untlcr Trensury llcg lations Scclion l.7t]4l(b)(2)lii)(d). All orscs in exccss (.)1'thc Iiniir:rriou sct r|tl in this Sccrion 3.llcl shall bc
i
acortiancc u,ith thcrir Mcnrbership Intcrests.

be

3-2 Spcqtl-l.be1jats. Fot each liscal year', thc ftrllou,ing srecal allocarirrns shall nlad irr the lollorvng ort{er an<l prior.ity:

(a) Mininiunl Gin Clar.ert:irack. lf thei-c is a llct dccrease u Contpany l\4inilrum Gan cluring arry Cotnpauy [*rxablc ycar-, itcnrs of incomc nd gin shll l)c spcci]y alltlcaled to thf-l Msnrters ilt the nic)lrfs and nrauncr describcrJ i Scciion l.?04-?(fi o1'tllo Treasury Rcgulatons. This rscction 3,2{a) olthc Exhibit is intcnded to cntply r1,irh the nrinir,un gai.rr clmrgcback roquircnrenf set forth r1 SccLion i.704-2(Q ol'1hc llreasui Regulntious r.clnting 1{) conrpdny rlonrcoulse liabilitcs (as tlcfined in soction 1.704-2(b)(J) of'rhc 'f'easury
legulaLions) and shall bc inter.prclcd consistenlly rhr:rcrvir.h.

consislcutly t}erowi1h,

0t) Menrber Minirrnl Gairr Chargcback. If,tbere s a lci clcc.c.asc n Mcmbcl. Mininlum (iain dLrring alr-y C,rrnirany laxable ,r.. lcrris trl inconrc antl gai shall c spccially allocnlcd to thse lrfcnlbcrs who had a shan: ol th Msntbor Mirirnin {.an (rlctcrminet pursuulr" to Scction 1.704-2(iX-5) of ihc 'l'r.easur-v Iegularions.) ill tll tnunts a.ntl manncr descriliccl ir sccrior 1.704-2{l)(4) of thc Trcasur.y Regulations. 'rhis Sqclion 3.2di ol thc Ixtlibit is intended to cortrply with thc minimuur gain chargetrack rcquireur".ror.th in Scctn I '704-2(i)(4) of' thc ]'rcasLuy llcgulations lclating to Menbcr noruccoursc dellt (irs defincd in scction .l.7ft4-2(b)(4) ot- lic 'rrcasrrry Regulations) and shll bc inirpr.crr{ {c)

Ourlited*lnconlc Oflrct, If'a Moml.:cr unexpcotcdly rcccives any or clisrribulion describeel i secrios I .704- i(bX2XiiXdX4). t704lflr(2xiixdxs) o f .704-1(b)GXiixdxo or lrre Trcasury ltegutaLi..i,'rcm,'oi no,puu, inconre alrd glin shall bc spccally llocalcd to och such Mcrnber in on:roult ard man:r srifficicnl to elimilxte, 10 is erfjtt requir.eil [r.y thc'l,reasury lcgulatiorts. thc rleficir balancc in each srch Menrber.'s Acjustcri capitn) Aecounl as quickly a pr:sriblc; pro\/ided, tnt ur allocation p.rsuant 1o ris Secton 3.2(c) ol'tlr Exhjbit. shall be mdc oly ii and to lhs e,\icllt that sucll Men:ber would halc deci{ blancc iu its A cl-iusLed Capital Accolnt l.tgr ail olijr alocljos providcd l'or in tlris Sqrrion 3,?(c) ol the xhibit havc ben {enhtivcly made as iI this 5sE1sL3l(4 u,crc noi inlhe tsxhibr.
djustcnr" ir.llocario

(d) Gloss lncomc4llocatinn. .11'any N4enber has a. delcit. (pitrl Accounr ar the enrl o1 any lscnl yenr, aud stch dcfcit (lapital ccount is in exccss of'lli sum of (:i) thc lllornl sul Monrbcr s blig{ed lo rcstrc rursuutt to arry prnvisions tf ftis llxiLri i Ure Agrecntent. and (ii) lhe airouttt such Menlbel is dcemeil t bo oligatcd 1o testore pusualtf to tl1* penLrltinllc setncs ol'Trea"sury Regultrrions $ecrion 1.704-2(g)t) and L704-Z(i)(5). each such

Mr:nbor sl.ra.l) bc spcciall.v allocatccl ircnrs ol Ctnrrnl, inconrcr antl grin ir thc nrount of.suclr cxccss rls qLrckly as ptlssblc. plovidcd 1ht n llocaliot plu'slr11flt ro ihis Si:crion J.2ld) shall bc nradc ony if nd tr thc cxlcnt [h1. such Mcull)cl would havc u ,1"f i"r "pit.ll ,A"c,ir]i-in **""., ol such suu el'tcl all othcr lloctir:ns prorridccl {br n Seclions 3.1 auci havc cc lacje s jl. Scs.1iqu_3-3cl bovc autl rhis Seclion 3-2j1i) rvce rtoi. n tbc ljxhibit,

Li

Noncc:otltsc Dochrctions, Norecori'sc Dcductioirs lbL ony lscal year sbrll bc spccai.ly llocatcd to thc N4c*be$ in accorda.cc rvith thoi'lr4cnrhor.ship lrtcr,csrs,

(e)

Membel Nttnrcolllsc l)etluliions, ny Mcnrbcl Nonrccoul.sc l)etluctjons rllc lvte.bcrs u,ho ber flc ccorlomic risk tll lo-s lor llrc liabilitv kl rvhich srch deduclions arc iltiributable in rccor.dncc rvif.h Scclion 1.7042{it{ l) t,l'thc 1i'carur1, R('Srl1io,s.
lrr- . 1i",'--n, t'eat' shall hc spccialiy allocatcd ro

(l)

(g) Ilasis Adiushllets, lb lh extet n id.iusrnonl to Lhc ad.justet tax basis ol ar' conrpa.ny ssr pursualrr rr codc sccr.ions 734(b) or 74jft) is lequired, p,,..uon, r cction I '704-l (b)(2xi\')(m) of thc I'reasury Rcgulaiiols, to b talron ini n"".r,rnt ,i .t*r,ni,i;ui Cupi1r Accoltts' tltc alltount o1'such atljustrlrent 1,, t.L. Clpitl Accoun shll bo rroatecl s n it-enl ol' gain (il'the ndjuslmont inoresscs thc bsis ol' the rsiel) or- ioss (if'rhc adirstnlerlt rlco:cses suclr basisl, and such gitl 0r loss shall be specrially allocatcl to the Mcnrber-. i:r a nrnner consistrnt wth i man.lrer in lvhich thc Capital ,A.ccounts arc rcqur'cd lo be adjustecl pursuat t suclr
Scclion ol'1hc Trcasury Rcgulaf ion$.

Ltraiive \11c.cation5, '-he allcrcalions sct l'ol'th ir Sections 3,2(a) tJrrouglr !g) ltercof (ihe "Ruguhla4t lbcaons") arc intondcd to comply lviil cortaiu requi:enrcnLs nl Scf ion .1.704-l(b) ol1.hc Ttcasury Jeguht.ions, JL is thc inrcnt. olihc Mcmbcrs rl ut, o ic-cxrcnt pos-sible, all Regulatory Allocations shll be oJTsct eithcr wifh o(hrr Regulalor), llo.uiion, ol. wilh spccinl allocalons ol'orher ifems of crornpany inconre, gain, loss oided,rctil p,,rrin,,o this scclioll'. Ar-'cor'dilgll'. thc Membcrs ur" hrict y auttioriz-ed ancl tiiroetctl to nrakc such olls tg irllocrti('lls of' ('ornpany income, gain. loss or <jcducf.ion i an1, manner thl the .l1",tlb:rf deenr apprr:rliate so thar, ier sucri orfserrrrg a|oca ous n,* nlu,.. each Mcrlrbcr,s (hpital Accounf balauce *ill,be, to thr: exlent pnssible etlual to thc Cl+ial AccoLrnt bala'cc such Menbcrr would have had.if rhc eguatory Allocntions wcrc iot a prt ol'ths lxhi.hir and all Conrpany ilenls had been ailocaied rrhe .lenrbers solcly pursuanr lrr $ia 3J hool Rcgulaiions :i'comc" gain, ross, anit dr:riuctio'. i,ith respect to a^y proprry 'horcunder, con(libttd 1 thc cpi(al of'the Cloupany shall, solely lor tx pu.lJ)oscs, tr llortcd nong fh Mcnrbcs s as ro ra.rre accoun.t o| any vr'irriou becr the nojusrcJ u"i, p,:ri.ny ,. the cnpary fcrr fderal i.nconlc rax "rrr".i' Fur?ose$ ud thc lrtial Gmss Assct Vlu. or *r"i rinpuuy. lf ll (oss Asser Valuc of zury corrrpn'y nsscr s ad.iusteiT pr.s'nt t. subp;rragraph ri;r r rn. cleinition ol'Gross Assct Vlue $rrr lir;r n this Exhibir., subcqLrent allocarions ol'inconre, gaiu. I..ss. rnd.tlcducrioir wirrr csr)ccr ro sucl usscr shail rakc adjustcd basis nl such ssct lbr fdarl incourc t:t puryoscs """,,un,nr;,i-;;;i;ti;;" and the Gross Assct Vlue .l such assil n lhe ^alll nritnng as stleh vtiatir:rts rrc taken uto aceouni .n:der Secli11 ?04(c) ol'thc Code and thc 1'r'casury Reguations thcrslnd{.rl' rvth respect t. prpr1y ccttrtl.ibut"d fo tle onipany Any elcctons or other decsions rclating rc sLich a o""ation..it"rf ir. ,r*A" rry ,r,-.

(h)

il;;;;,il,;

Mcnlbcrs itr alt, 1r11s tlL asonrbly l cllcct.s thc puqlOse and intcntio ol f h and this llxh'ibil. Allocations rulstttirt lo lhis Srctu-3-; ol ttrc Exhibit are sr.rlciy fii ^gcru.cnt rLr6scs rill'edcral. sLato. rd locl trxes nd shrll nor llbct or be raken into ilccount iu .oriruiing uuy Me rbcr's CaPital AccoLrnt or sharc ol'.Prol'its. Losscs, olhi' iroms. rr dislriburions i,r.*rint io thc A.gtrenlc.nt ol lhir lixhihir.

3.4

OtlicrAllat-.rtors.

(u)

For pulposes

o1' <lcrcrnrinirg

allcsbic to any pcrtod (inclutling pcriotls lrclhrc and a.lter the almission 6l'a. new N4emher), Prolts, l.osses. rld any such othcr itcnt shall br: dctemlillcd on daily, nlolltlly, or. ofhcr. Lra sr. .s detemljned rrd allocalcd bv ihe fulnrhcrs using anr pennissible nlcthod undr Scct.on ?06 o1' lhc Clodc and rhe'lireasury ltcgulaions thercuucler.l

lhrr prolts. l-osscs" or a:r, oiltcr rcnr

Tho Menlbers rs awrl-e ol' Lho f'eclcrul inconlc iax conscqucnces of the alloct()rls rr.de bl this xhihit and helehy grcc to b hotr:cl hy rhc rrovisions f'r.his xhibit in leporting leir shales o1'cnnrpany inconrq anl loss f'or fsclrrral irconlo tax puq)osrs.

(b)

(c) The Mcrrtrers agrec t{rnt {heir Mcnrbership ltcrest* lcprcsent their iterests in (ionrpnny prolt.s fbl purposes ol'ai.l(:cating nonrcio,r, se liabilitics puunt to "xccss Sccliol L 752-3(aX3) ol' thc frcasury l(egularions.
.,1R'TICI,E IOUR
O ]'L] ER

]'A-X A4A.TTRS

4l l'qr lljectiun., 'hc Mr>nbets, fu ther rcrsrrnablc disclction. rc ruthojzd lo makc any nd all clctions for federal, sta{e ol'local tx pul}oses i.nclurling, s,ilhout lmitaton, the election to adjust the basis ol cronrpanv propr-r)/ pursuani to Sectio:rs 7-\4. 734(b) and 743(h) ol the Crldc (or conrpnrable provisions nf'state ot local law) in con ctiolr g,ith ll-ansfers of' intetcsts i:'l ConrPanl, and distrjlrutions by Conrpanl'. l'ax Maltcrs McDltrcr. Ihc Mcrlb:rs.i $lll dsignrtc rhc ''?i Mter;,^ !l{antltc,.', puq;oses of Scctinn 6231(a)(7) of the Corlc d 1r ry sirnlar capacity udcrr slatc or local la'vr'. lhc'l'x Mtters Mcmule is authorizcr: (r) to the rxtnt Fr\i.led in Strotions 6221 thi'gh 21I trf the Code. fo reprcsett Lhe (llpany nnd tlt.; Members, t thc Contpafly's cxpcnsc. licib.e tax aullloritics and cour-ts o1'conrlrctoni jurisdction in lx niatters .llbrrting the LloDuy and th Mcnlbcls in thcir capacity as Menrhcrs; (h) to fi.le tx r'etur)rs nt1 cxecr! an,, ogr"g',,er. ,1r'
1'or

4.2

to or albctrrg such tax attrs, includitrg ag.ccnrents or t1o. lthi biltd the Mana.gerc and thc Mcmbes u'ith espcct ro srch tax rttcrs ototherwisc al-lict the riglrts of thc (burpan, ncl the Mn:bcrs; n,rd {.) 1 exlend tho sta(ui.s of lilllitations flr Lhc asscssnrcnl. of' tnx <lefoiencies agains( lJrc .lr4embers with rspcct l
othr doctnents rclting
dotmenl.s

djustmcnts tcl the Colllllnyis I'etleral, slate rir local tali. rclufls,

43 lllax. lctunls, 'I'lie M.cmbers shall armngc io the prcpararori trn.d tinrely fiting of' alj. retunrs of conrpany inconre, gain, loss, dcdrction, crdt, anfl ollsr ilerns necessay hrr lcdcral. statc. and Icca ilrconle tax purposes nti sh.all use all rrasol:bL: cffo,g to lutish to tlre Mrlnltrctl thc tlrx int'omralion rcasonatrly r:cquilccl lor {'crieral and stt inctlrre 1ax reporting

tltr:l

pl'p()ss is sooll as prctlcablc

tlt,-'

clt,l rrl st lr Iisr'l ),utrr).

allcl'thc

L-nd

ol'uch lscal ycrr'(trrrt nrl ltel.t.han

siN.

nrths

lu,s.

Cttlitu}-el4$i1g1ra1. No cle'ctiorr shall bcr urtJc by lho Clorrpany oi. any 'p'ioTrirl,ln i\4nrber frr thc (.ompany to [rc, cxclutic<] fiont thc a1::licaron ol ari, tn" ntsLrhchaptc| I(. Lhaprcl r of'subiitle A of"thc (rtlc or tinnr ,:,ny sinrira.r pxivisi<in, ,riouf ,i",. ,,r*

. 4.4