December 18, 2018

New Jersey Resources Corporation
1415 Wyckoff Rd.
Wall Township, NJ 07719
Attention: James Kent, Treasurer

Dear Mr. Kent:

We are pleased to inform you that PNC Bank, National Association (the “ Bank ”), has approved your request for a loan as described in Section 1 below (the “ Loan ”) to New Jersey Resources Corporation (the “ Borrower ”), subject to the terms and conditions and in reliance upon the representations and warranties of the Borrower set forth in this letter. We look forward to this opportunity to help you meet the financing needs of your business. All the details regarding your Loan are outlined in the following sections of this letter.

1. Loan and Use of Proceeds . The Loan governed by this letter is a committed revolving line of credit under which the Borrower may request and the Bank, subject to the terms and conditions of this Agreement, will make advances to the Borrower from time to time until the Expiration Date, in an aggregate amount outstanding at any time not to exceed $100,000,000 (the “ Line of Credit ”). The “ Expiration Date ” shall have the meaning set forth in the Note (defined below). The Borrower acknowledges and agrees that in no event will the Bank be under any obligation to extend or renew the Line of Credit beyond the Expiration Date. In no event shall the aggregate unpaid principal amount of advances under the Line of Credit exceed the face amount of the Line of Credit. Establishment of the Line of Credit is for the purpose of providing additional short-term liquidity for the Borrower and advances under the Line of Credit will be used for working capital or other general business purposes of the Borrower.

2. Note . Each advance under the Loan will be evidenced by a promissory note, dated of even date herewith, in the principal face amount of $100,000,000, executed by the Borrower in favor of the Bank (together with all renewals, extensions, amendments and restatements thereof, collectively, the “ Note ”), which sets forth the interest rate, repayment and other provisions of the respective Loan. This letter (the “ Letter Agreement ”), the Note and the other agreements and documents executed and/or delivered pursuant hereto, as each may be amended, modified, extended or renewed from time to time, will constitute the “ Loan Documents . ” Capitalized terms not defined herein shall have the meaning ascribed to them in the Note.

New Jersey Resources Corporation
December 18, 2018
Page 2

3. Interest Rate . Interest on the unpaid balance of advances under the Loan will be charged at the rates, and be payable on the dates and times, set forth in the Note.

4. Representations and Warranties . To induce the Bank to extend the Loan and upon the making of each advance to the Borrower under the Line of Credit, the Borrower represents and warrants as follows:

(a) The Borrower is a corporation duly organized, validly existing and in good standing under the laws of its jurisdiction of organization. The Borrower has the lawful power to own or lease its properties and to engage in the business it presently conducts or proposes to conduct. The Borrower is duly licensed or qualified and in good standing in each jurisdiction where the failure to be so licensed or qualified could reasonably be expected to result in a Material Adverse Change.

(b) This Letter Agreement and the Note have been duly and validly executed and delivered by the Borrower. This Letter Agreement and the Note constitute legal, valid and binding obligations the Borrower, enforceable against the Borrower in accordance with its terms, except to the extent that enforceability of any of the Loan Documents may be limited by bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting the enforceability of creditors' rights generally or limiting the right of specific performance.

(c) Neither the execution and delivery of this Letter Agreement and the Note, nor the consummation of the transactions herein or therein contemplated or compliance with the terms and provisions hereof or thereof by the Borrower will conflict with, constitute a default under or result in any breach of (i) the terms and conditions of the certificate of incorporation, bylaws or other organizational documents of the Borrower, or (ii) any Law or any material agreement or instrument or order, writ, judgment, injunction or decree to which the Borrower is a party or by which it is bound or to which it is subject, or result in the creation or enforcement of any Lien, charge or encumbrance whatsoever upon any property (now or hereafter acquired) of the Borrower (other than any Liens that may be granted in favor of the Bank).

(d) No event has occurred and is continuing and no condition exists or will exist after giving effect to the borrowings or other extensions of credit to be made under or pursuant to this Letter Agreement and the Note which constitutes an Event of Default or Potential Default.

(e) The Borrower is not in violation of (i) any term of its certificate of incorporation, bylaws or other organizational documents or (ii) any material agreement or instrument to which it is a party or by which it or any of its properties may be subject or bound where such violation could reasonably be expected to result in a Material Adverse Change.

New Jersey Resources Corporation
December 18, 2018
Page 3

5. Conditions to Advances . The Bank’s obligation to make any advance under any Loan is subject to the conditions that as of the date of the advance (a) no Event of Default or Potential Default shall have occurred and be continuing, (b) the representations and warranties of the Borrower under the Loan Documents shall be true on and as of the date of such advance with the same effect as though such representations and warranties had been made on and as of such date (except representations and warranties which expressly relate solely to an earlier date or time, which representations and warranties shall be true and correct on and as of the specific dates or times referred to therein), (c) the making of the advance shall not contravene any Law applicable to the Borrower, and (d) the Borrower shall have made a proper and timely request for such advance as set forth herein and in the Note. In addition, the Bank’s commitment to fund the initial advance on or after the date hereof under the Line of Credit is subject to the satisfaction of the following conditions prior to or as of the date hereof:

5.1 Authorization Documents . The Bank shall have received certified copies of resolutions of the board of directors of the Borrower authorizing, to the satisfaction of the Bank, this Letter Agreement and the Note, together with a current incumbency certificate and a current good standing certificate from the Borrower’s jurisdiction of organization with respect to the Borrower.

5.2 Receipt of Loan Documents . The Bank shall have received this Letter Agreement, the Note and such other instruments and documents which the Bank may have reasonably requested prior to the date hereof in connection with the transactions provided for in this Letter Agreement and the Note, which shall include an opinion of counsel in form and substance reasonably satisfactory to the Bank.

6. Covenants . Unless compliance is waived in writing by the Bank, until termination of the commitment for the Line of Credit and payment in full of the Loan:

(a) The Borrower will promptly submit to the Bank the financial statements and certifications set forth on Exhibit A attached hereto.

(b) The Borrower will notify the Bank in writing of the occurrence of any Event of Default or Potential Default, and of any other event or occurrence as to which the Borrower is required to provide notice to the administrative agent and/or lenders party to the Credit Agreement.

(c) The Borrower shall pay to the Bank the commitment fees set forth on Exhibit A attached hereto.

(d) If the Credit Agreement is terminated and repaid in full prior to the Expiration Date, the Borrower shall, if so required by the Bank in its discretion, also repay in full all obligations outstanding under this Letter Agreement and the Note, and the Bank may, in its discretion, cancel the Line of Credit and have no further obligation to lend or extend credit hereunder and under the Note.

New Jersey Resources Corporation
December 18, 2018
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7. Fees; Expenses . The Bank agrees to pay its counsel fees incurred in connection with the documentation and closing of the Loan through the date hereof. Thereafter, the Borrower agrees to reimburse the Bank, on demand, for all costs and expenses incurred by the Bank in connection with the preparation, negotiation and delivery of this Letter Agreement and the other Loan Documents after the date hereof, and any modifications or amendments thereto or renewals thereof, and the collection of all of the obligations evidenced by the Note (collectively, the “ Obligations ”), including, but not limited to, enforcement actions, relating to the Loan, whether through judicial proceedings or otherwise, or in defending or prosecuting any actions or proceedings arising out of or relating to this Letter Agreement, including (i) reasonable fees and expenses of counsel (which may include costs of in-house counsel); and (ii) all costs related to conducting UCC, title and other public record searches. The Borrower hereby authorizes and directs the Bank to charge Borrower's deposit account(s) with the Bank for any and all such costs and expenses, as well as any fees due hereunder.

8. [Intentionally Omitted]

9. Miscellaneous .

9.1 Notices . All notices, demands, requests, consents, approvals and other communications required or permitted hereunder (“ Notices ”) must be in writing (except as may be agreed otherwise above with respect to borrowing requests) or as otherwise provided in this Letter Agreement) and will be effective upon receipt. Notices may be given in any manner to which the parties may agree. Without limiting the foregoing, first-class mail, postage-prepaid, facsimile transmission and commercial courier service are hereby agreed to as acceptable methods for giving Notices. In addition, the parties agree that Notices may be sent electronically to any electronic address provided by a party from time to time. Notices may be sent to the Borrower’s address as set forth above and to the Bank at 155 East Broad Street, Columbus, OH 43215, Attention: Thomas E. Redmond, Managing Director, or to such other address as any party may give to the other for such purpose in accordance with this section.

9.2 Preservation of Rights . No delay or omission on the Bank’s part to exercise any right or power arising hereunder will impair any such right or power or be considered a waiver of any such right or power, nor will the Bank’s action or inaction impair any such right or power. The Bank’s rights and remedies hereunder are cumulative and not exclusive of any other rights or remedies which the Bank may have under other agreements, at law or in equity.

9.3 Illegality . If any provision contained in this Letter Agreement should be invalid, illegal or unenforceable in any respect, it shall not affect or impair the validity, legality and enforceability of the remaining provisions of this Letter Agreement.

New Jersey Resources Corporation
December 18, 2018
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9.4 Changes in Writing . No modification, amendment or waiver of, or consent to any departure by the Borrower from, any provision of this Letter Agreement will be effective unless made in a writing signed by the party to be charged, and then such waiver or consent shall be effective only in the specific instance and for the purpose for which given. Notwithstanding the foregoing, the Bank may modify this Letter Agreement or any of the other Loan Documents for the purposes of completing missing content or correcting erroneous content, without the need for a written amendment, provided that the Bank shall send a copy of any such modification to the Borrower (which notice may be given by electronic mail). No notice to or demand on the Borrower will entitle the Borrower to any other or further notice or demand in the same, similar or other circumstance.

9.5 Entire Agreement . This Letter Agreement, the Note and the other Loan Documents constitute the entire agreement and supersede all other prior agreements and understandings, both written and oral, between the parties with respect to the subject matter hereof.

9.6 Counterparts . This Letter Agreement may be signed in any number of counterpart copies and by the parties hereto on separate counterparts, but all such copies shall constitute one and the same instrument. Delivery of an executed counterpart of a signature page to this Letter Agreement by facsimile transmission shall be effective as delivery of a manually executed counterpart. Any party so executing this Letter Agreement by facsimile transmission shall promptly deliver a manually executed counterpart, provided that any failure to do so shall not affect the validity of the counterpart executed by facsimile transmission.

9.7 Successors and Assigns . This Letter Agreement will be binding upon and inure to the benefit of the Borrower and the Bank and their respective heirs, executors, administrators, successors and assigns; provided , however , that the Borrower may not assign this Letter Agreement in whole or in part without the Bank’s prior written consent and the Bank at any time may assign this Letter Agreement in whole or in part.

9.8 Interpretation . In this Letter Agreement, unless the Bank and the Borrower otherwise agree in writing, the singular includes the plural and the plural the singular; words importing any gender include the other genders; references to statutes are to be construed as including all statutory provisions consolidating, amending or replacing the statute referred to; the word “or” shall be deemed to include “and/or”, the words “including”, “includes” and “include” shall be deemed to be followed by the words “without limitation”; references to articles, sections (or subdivisions of sections) or exhibits are to those of this Letter Agreement; and references to agreements and other contractual instruments shall be deemed to include all subsequent amendments and other modifications to such instruments, but only to the extent such amendments and other modifications are not prohibited by the terms of this Letter Agreement. Section headings in this Letter Agreement are included for convenience of reference only and shall not constitute a part of this Letter Agreement for any other purpose. Unless otherwise specified in this Letter Agreement, all accounting terms shall be interpreted and all accounting determinations shall be made in accordance with GAAP and consistent with the Credit Agreement. If this Letter Agreement is executed by more than one party as Borrower, the obligations of such persons or entities will be joint and several.

New Jersey Resources Corporation
December 18, 2018
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9.9 No Consequential Damages, Etc. The Bank will not be responsible for any damages, consequential, incidental, special, punitive or otherwise, that may be incurred or alleged by any person or entity, including the Borrower , as a result of this Letter Agreement, the other Loan Documents, the transactions contemplated hereby or thereby, or the use of the proceeds of the Loan.

9.10 Assignments and Participations . At any time, without any notice to the Borrower, the Bank may grant participations in, or, if there then exists an Event of Default or if the Bank receives the Borrower’s prior written consent (which consent will not be unreasonably withheld), sell, assign, transfer, negotiate, or otherwise dispose of, all or any part of the Bank’s interest in the Loan. The Borrower hereby authorizes the Bank to provide, without any notice to the Borrower, any information concerning the Borrower, including information pertaining to the Borrower’s financial condition, business operations or general creditworthiness, to any assignee of or participant in or any prospective assignee of or participant in all or any part of the Bank’s interest in the Loan.

9.11 USA PATRIOT Act Notice . The Bank hereby notifies the Borrower that pursuant to the requirements of the USA PATRIOT Act, the Bank is required to obtain, verify and record information that identifies the Borrower, which information includes the name and address of the Borrower and other information that will allow the Bank to identify the Borrower in accordance with the USA PATRIOT Act.

9.12 Important Information about Phone Calls . By providing telephone number(s) to the Bank, now or at any later time, the Borrower hereby authorizes the Bank and its affiliates and designees to contact the Borrower regarding the Borrower’s account(s) with the Bank or its affiliates, whether such accounts are Borrower’s individual accounts or business accounts for which Borrower is a contact, at such numbers using any means, including, but not limited to, placing calls using an automated dialing system to cell, VoIP or other wireless phone number, or by leaving prerecorded messages or sending text messages, even if charges may be incurred for the calls or text messages. Borrower hereby consents that any phone call with the Bank may be monitored or recorded by the Bank.

New Jersey Resources Corporation
December 18, 2018
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9.13 Confidentiality . In connection with the Obligations, this Letter Agreement and the other Loan Documents, the Bank and the Borrower will be providing to each other, whether orally, in writing or in electronic format, nonpublic, confidential or proprietary information (collectively, “ Confidential Information ”). Each of the Borrower and the Bank agrees (i) to hold the Confidential Information of the other in confidence; and (ii) not to disclose or permit any other person or entity access to the Confidential Information of the other party, except for disclosure or access to (a) a party’s affiliates and its or their employees, officers, directors, agents, representatives, (b) other third parties that provide or may provide ancillary support relating to the Obligations, this Letter Agreement and/or the other Loan Documents, or (c) to its external or internal auditors or regulatory authorities. It is understood and agreed that the obligation to protect such Confidential Information shall be satisfied if the party receiving such Confidential Information utilizes the same control (but no less than reasonable) as it does to avoid disclosure of its own confidential and valuable information. It is also understood and agreed that no information shall be within the protection of this Letter Agreement where such information: (w) is or becomes publicly available through no fault of the party to whom such Confidential Information has been disclosed; (x) is released by the originating party to anyone without restriction; (y) is rightly obtained from third parties who are not, to such receiving party's knowledge, under an obligation of confidentiality; or (z) is required to be disclosed by subpoena or similar process of applicable law or regulations.

For the purposes of this Letter Agreement, Confidential Information of a party shall include, without limitation, any financial information, scientific or technical information, design, process, procedure or improvement and all concepts, documentation, reports, data, data formats, specifications, computer software, source code, object code, user manuals, financial models, screen displays and formats, software, databases, inventions, knowhow, showhow and trade secrets, whether or not patentable or copyrightable, whether owned by a party or any third party, together with all memoranda, analyses, compilations, studies, notes, records, drawings, manuals or other documents or materials which contain or otherwise reflect any of the foregoing information.

Each of the Borrower and the Bank agrees to return to the other or destroy all Confidential Information of the other upon the termination of this Letter Agreement; provided, however, each party may retain such limited information for customary archival and audit purposes only for reference with respect to prior dealings between the parties subject at all times to the continuing terms of this Section.

Each of the Borrower and the Bank agrees not to use the other's name or logo in any marketing, advertising or related materials, without the prior written consent of the other party (except in the case of mandatory public filings).

9.14 Sharing Information with Affiliates of the Bank . The Borrower acknowledges that from time to time other financial and banking services may be offered or provided to the Borrower or one or more of its subsidiaries and/or affiliates (in connection with this Letter Agreement or otherwise) by the Bank or by one or more subsidiaries or affiliates of the Bank or of The PNC Financial Services Group, Inc., and the Borrower hereby authorizes the Bank to share any information delivered to the Bank by the Borrower and/or its subsidiaries and/or affiliates pursuant to this Letter Agreement or any of the Loan Documents to any subsidiary or affiliate of the Bank and/or The PNC Financial Services Group, Inc., subject to any provisions of confidentiality in this Letter Agreement or any other Loan Documents.

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December 18, 2018
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9.15 Electronic Signatures and Records. Notwithstanding any other provision herein, the Borrower agrees that this Agreement, the Loan Documents, any amendments thereto, and any other information, notice, signature card, agreement or authorization related thereto (each, a “ Communication ”) may, at the Bank’s option, be in the form of an electronic record. Any Communication may, at the Bank’s option, be signed or executed using electronic signatures. For the avoidance of doubt, the authorization under this paragraph may include, without limitation, use or acceptance by the Bank of a manually signed paper Communication which has been converted into electronic form (such as scanned into PDF format) for transmission, delivery and/or retention.

9.16 Governing Law and Jurisdiction . This Letter Agreement has been delivered to and accepted by the Bank and will be deemed to be made in the State of New Jersey. T HIS L ETTER A GREEMENT WILL BE INTERPRETED AND THE RIGHTS AND LIABILITIES OF THE B ANK AND THE B ORROWER DETERMINED IN ACCORDANCE WITH THE LAWS OF THE STATE OF N EW J ERSEY , EXCLUDING ITS CONFLICT OF LAWS RULES , INCLUDING WITHOUT LIMITATION THE E LECTRONIC T RANSACTIONS A CT ( OR EQUIVALENT ) IN EFFECT IN THE STATE OF N EW J ERSEY OR , TO THE EXTENT CONTROLLING , THE LAWS OF THE U NITED S TATES O F A MERICA , INCLUDING WITHOUT LIMITATION THE E LECTRONIC S IGNATURES IN G LOBAL AND N ATIONAL C OMMERCE A CT ) . The Borrower hereby irrevocably consents to the exclusive jurisdiction of any state or federal court in the county or judicial district in New Jersey; provided that nothing contained in this Letter Agreement will prevent the Bank from bringing any action, enforcing any award or judgment or exercising any rights against the Borrower individually, against any security or against any property of the Borrower within any other county, state or other foreign or domestic jurisdiction. The Bank and the Borrower agree that the venue provided above is the most convenient forum for both the Bank and the Borrower. The Borrower waives any objection to venue and any objection based on a more convenient forum in any action instituted under this Letter Agreement.

9.17 WAIVER OF JURY TRIAL . EACH OF THE BORROWER AND THE BANK IRREVOCABLY WAIVES ANY AND ALL RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY ACTION, PROCEEDING OR CLAIM OF ANY NATURE RELATING TO THIS LETTER AGREEMENT, ANY DOCUMENTS EXECUTED IN CONNECTION WITH THIS LETTER AGREEMENT OR ANY TRANSACTION CONTEMPLATED IN ANY OF SUCH DOCUMENTS. THE BORROWER AND THE BANK ACKNOWLEDGE THAT THE FOREGOING WAIVER IS KNOWING AND VOLUNTARY.

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New Jersey Resources Corporation
December 18, 2018
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To accept these terms, please sign the enclosed copy of this Letter Agreement below and return it to the Bank, along with the Note and other documents and certificates required under Section 5 of this Letter Agreement, prior to December 31 ^, 2018, or this Letter Agreement and the Note may be terminated at the Bank’s option without liability or further obligation of the Bank.

Thank you for giving PNC Bank this opportunity to work with your business. We look forward to other ways in which we may be of service.

Very truly yours,

PNC BANK, NATIONAL ASSOCIATION

New Jersey Resources Corporation
December 18, 2018
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ACCEPTANCE

With the intent to be legally bound hereby, the above terms and conditions are hereby agreed to and accepted as of this 18 ^th day of December, 2018.

New Jersey Resources Corporation
December 18, 2018
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EXHIBIT A
TO LETTER AGREEMENT
DATED DECEMBER 18, 2018

A. FINANCIAL REPORTING COVENANTS: The Borrower shall deliver or shall cause to be delivered to the Bank, the following:

(a) As soon as available and in any event within forty-five (45) calendar days after the end of each of the first three fiscal quarters in each fiscal year (or such earlier or later date, from time to time established by the United States Securities and Exchange Commission (“SEC”) in accordance with the Securities Exchange Act of 1934, as amended, or within fifty (50) days in the event the Borrower shall file its Form 10-Q within the extension period pursuant to Rule 12b-25 of the Securities Exchange Act of 1934, as amended), financial statements of the Borrower, consisting of a consolidated and consolidating balance sheet as of the end of such fiscal quarter and related consolidated and consolidating statements of income, stockholders' equity and cash flows for the fiscal quarter then ended and the fiscal year through that date, all in reasonable detail and certified (subject to normal year-end audit adjustments) by the Chief Executive Officer, President or Chief Financial Officer of the Borrower as having been prepared in accordance with GAAP, consistently applied, and setting forth in comparative form the respective financial statements for the corresponding date and period in the previous fiscal year. The Borrower will be deemed to have complied with the delivery requirements of this Section if within forty-five (45) days after the end of their fiscal quarter (or such earlier or later date, from time to time established by the SEC in accordance with the Securities Exchange Act of 1934, as amended, or within fifty (50) days in the event the Borrower shall file its Form 10-Q within the extension period pursuant to Rule 12b¬25 of the Securities Exchange Act of 1934, as amended), the Borrower delivers to the Bank a copy of its Form 10-Q as filed with the SEC and the financial statements contained therein meet the requirements described in this Section. The Borrower is not required to deliver duplicate copies of the above financial statements.

(b) As soon as available and in any event within ninety (90) days after the end of each fiscal year of the Borrower (or such earlier or later date, from time to time established by the SEC in accordance with the Securities Exchange Act of 1934, as amended, or within one hundred five (105) days in the event the Borrower shall file its Annual Report on Form 10-K within the extension period pursuant to Rule 12b-25 of the Securities Exchange Act of 1934, as amended), financial statements of the Borrower consisting of a consolidated balance sheet as of the end of such fiscal year, and related consolidated statements of income, stockholders' equity and cash flows for the fiscal year then ended, all in reasonable detail and setting forth in comparative form the financial statements as of the end of and for the preceding fiscal year, and certified by independent certified public accountants of nationally recognized standing satisfactory to the Bank. The certificate or report of accountants shall be free of qualifications (other than any consistency qualification that may result from a change in the method used to prepare the financial statements as to which such accountants concur) and shall not indicate the occurrence or existence of any event, condition or contingency which would materially impair the prospect of payment or performance of any covenant, agreement or duty of the Borrower under any of the Loan Documents. The Borrower will be deemed to have complied with the delivery requirements of this Section if within ninety (90) days (or one hundred five (105) days, if applicable) after the end of their fiscal year (or such earlier or later date, from time to time established by the SEC in accordance with the Securities Exchange Act of 1934, as amended), the Borrower delivers to the Bank a copy of its Annual Report on Form 10-K as filed with the SEC and the financial statements and certification of public accountants contained therein meet the requirements described in this Section. The Borrower is not required to deliver duplicate copies of the above financial statements.

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December 18, 2018
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(c) Concurrently with the financial statements of the Borrower furnished to the Bank as stated above, a certificate (each a "Compliance Certificate") of the Borrower signed by the Chief Executive Officer, Chief Financial Officer or Treasurer of the Borrower in the form of (and without duplication of) Exhibit 8.3.3 to the Credit Agreement.

B. UNUSED COMMITMENT FEE:

Accruing from the date hereof until the Expiration Date, the Borrower agrees to pay to the Bank, as consideration for its commitment hereunder, a nonrefundable commitment fee (the “Commitment Fee”) equal to the Applicable Commitment Fee Rate (computed on the basis of a year of 365 or 366 days, as the case may be, and actual days elapsed) multiplied by the average daily difference between (i) the maximum principal amount of the Line of Credit, and (ii) the aggregate amount of outstanding advances under the Loan. All Commitment Fees shall be payable quarterly in arrears on the first day of each calendar quarter occurring after the date hereof and prior to the Expiration Date, and on the Expiration Date or upon acceleration of the Loan.

For purposes hereof, the Applicable Commitment Fee Rate will be determined as follows:

The Borrower’s “Debt Rating” shall be determined as set forth in the Credit Agreement.

Committed Line Of Credit Note (Multi-Rate Options)

FOR VALUE RECEIVED , NEW JERSEY RESOURCES CORPORATION (the “ Borrower ”), with an address at 1415 Wyckoff Rd, Wall Township, NJ 07719, Attention: James Kent, Treasurer, promises to pay to the order of PNC BANK, NATIONAL ASSOCIATION (the “ Bank ”), in lawful money of the United States of America in immediately available funds at its offices located at 500 First Avenue, Pittsburgh, PA 15219 Attn: Christine Kemerer, or at such other location as the Bank may designate from time to time, the principal sum of ONE HUNDRED MILLION AND 00/100 DOLLARS ( $100,000,000.00 ) (the “ Facility ”) or such lesser amount as may be advanced to or for the benefit of the Borrower hereunder, together with interest accruing on the outstanding principal balance from the date hereof, all as provided below.

1. Advances . The Borrower may request advances, repay and request additional advances hereunder until the Expiration Date, subject to the terms and conditions of this Note and the Loan Documents (as hereinafter defined). The “ Expiration Date ” shall mean April 18, 2019 or such later date as may be designated by the Bank by written notice from the Bank to the Borrower. The Borrower acknowledges and agrees that in no event will the Bank be under any obligation to extend or renew the Facility or this Note beyond the Expiration Date. The Borrower may request advances hereunder upon giving oral or written notice to the Bank by 11:00 a.m. (New Jersey time) (a) on the day of the proposed advance, in the case of advances to bear interest under the Base Rate Option (as hereinafter defined) and (b) three (3) Business Days prior to the proposed advance, in the case of advances to bear interest under the LIBOR Option (as hereinafter defined) or Daily LIBOR Option, followed promptly thereafter by the Borrower’s written confirmation to the Bank of any oral notice. The aggregate unpaid principal amount of advances under this Note shall not exceed the face amount of this Note. Advances may be requested in amounts of at least $1,000,000 and in $500,000 increments above such minimum amount.

2. Rate of Interest . Each advance outstanding under this Note will bear interest at a rate or rates per annum as may be selected by the Borrower from the interest rate options set forth below (each, an “ Option ”):

(i) Base Rate Option . A rate of interest per annum which is at all times equal to (A) the Base Rate plus (B) the Applicable Margin for the Base Rate Option. If and when the Base Rate (or any component thereof) changes, the rate of interest with respect to any advance to which the Base Rate Option applies will change automatically without notice to the Borrower, effective on the date of any such change. There are no required minimum interest periods for advances bearing interest under the Base Rate Option.

(ii) LIBOR Option . A rate per annum equal to (A) LIBOR plus (B) the Applicable Margin for the LIBOR Option for the applicable LIBOR Interest Period.

(iii) Daily LIBOR Option . A rate per annum equal to (A) the Daily LIBOR Rate plus (B) the Applicable Margin for the LIBOR Option.

For purposes hereof, the following terms shall have the following meanings:

“ Applicable Margin ” shall be determined according to the following grid, with “Debt Rating” determined according to the Credit Agreement:

“ Base Rate ” shall mean the highest of (A) the Prime Rate, and (B) the sum of the Overnight Bank Funding Rate plus fifty (50) basis points (0.50%), and (C) the sum of the Daily LIBOR Rate plus one hundred (100) basis points (1.0%), so long as a Daily LIBOR Rate is offered, ascertainable and not unlawful.

“ Business Day ” shall mean any day other than a Saturday or Sunday or a legal holiday on which commercial banks are authorized or required by law to be closed for business in New Jersey or Pennsylvania.

“ Daily LIBOR Rate ” shall mean, for any day, the rate per annum determined by the Bank by dividing (x) the Published Rate by (y) a number equal to 1.00 minus the LIBOR Reserve Percentage; provided , however , if the Daily LIBOR Rate determined as provided above would be less than zero, then such rate shall be deemed to be zero.

“ LIBOR ” shall mean, with respect to any advance to which the LIBOR Option applies for the applicable LIBOR Interest Period, the interest rate per annum determined by the Bank by dividing (the resulting quotient rounded upwards, at the Bank’s discretion, to the nearest 1/100th of 1%) (i) the rate of interest determined by the Bank in accordance with its usual procedures (which determination shall be conclusive absent manifest error) to be the eurodollar rate two (2) Business Days prior to the first day of such LIBOR Interest Period for an amount comparable to such advance and having a borrowing date and a maturity comparable to such LIBOR Interest Period by (ii) a number equal to 1.00 minus the LIBOR Reserve Percentage; provided , however , if LIBOR, determined as provided above, would be less than zero, then LIBOR shall be deemed to be zero.

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“ LIBOR Interest Period ” shall mean, as to any advance to which the LIBOR Option applies, the period of one (1) or two (2) month(s) as selected by the Borrower in its notice of borrowing or notice of conversion, as the case may be, commencing on the date of disbursement of an advance (or the date of conversion of an advance to the LIBOR Option, as the case may be) and each successive period selected by the Borrower thereafter; provided   that, (i) if a LIBOR Interest Period would end on a day which is not a Business Day, it shall end on the next succeeding Business Day unless such day falls in the next succeeding calendar month in which case the LIBOR Interest Period shall end on the next preceding Business Day, (ii) the Borrower may not select a LIBOR Interest Period that would end on a day after the Expiration Date, and (iii) any LIBOR Interest Period that begins on the last Business Day of a calendar month (or a day for which there is no numerically corresponding day in the last calendar month of such LIBOR Interest Period) shall end on the last Business Day of the last calendar month of such LIBOR Interest Period.

“ LIBOR Reserve Percentage ” shall mean the maximum effective percentage in effect on such day as prescribed by the Board of Governors of the Federal Reserve System (or any successor) for determining the reserve requirements (including, without limitation, supplemental, marginal and emergency reserve requirements) with respect to eurocurrency funding (currently referred to as “Eurocurrency liabilities”).

“ Overnight Bank Funding Rate ” shall mean, for any day, the rate comprised of both overnight federal funds and overnight Eurocurrency borrowings by U.S.-managed banking offices of depository institutions, as such composite rate shall be determined by the Federal Reserve Bank of New York (“ NYFRB ”), as set forth on its public website from time to time, and as published on the next succeeding Business Day as the overnight bank funding rate by the NYFRB (or by such other recognized electronic source (such as Bloomberg) selected by the Bank for the purpose of displaying such rate); provided, that if such day is not a Business Day, the Overnight Bank Funding Rate for such day shall be such rate on the immediately preceding Business Day; provided, further, that if such rate shall at any time, for any reason, no longer exist, a comparable replacement rate determined by the Bank at such time (which determination shall be conclusive absent manifest error). If the Overnight Bank Funding Rate determined as above would be less than zero, then such rate shall be deemed to be zero. The rate of interest charged shall be adjusted as of each Business Day based on changes in the Overnight Bank Funding Rate without notice to the Borrower.

“ Prime Rate ” shall mean the rate publicly announced by the Bank from time to time as its prime rate. The Prime Rate is determined from time to time by the Bank as a means of pricing some loans to its borrowers. The Prime Rate is not tied to any external rate of interest or index, and does not necessarily reflect the lowest rate of interest actually charged by the Bank to any particular class or category of customers.

“ Published Rate ” shall mean the rate of interest published each Business Day in the Wall Street Journal “Money Rates” listing under the caption “London Interbank Offered Rates” for a one month period (or, if no such rate is published therein for any reason, then the Published Rate shall be the eurodollar rate for a one month period as published in another publication selected by the Bank).

LIBOR and the Daily LIBOR Rate shall be adjusted with respect to any advance to which the Daily LIBOR Option, LIBOR Option or Base Rate Option applies, as applicable, on and as of the effective date of any change in the LIBOR Reserve Percentage. The Bank shall give prompt notice to the Borrower of LIBOR or the Daily LIBOR Rate as determined or adjusted in accordance herewith, which determination shall be conclusive absent manifest error.

If the Bank determines (which determination shall be final and conclusive) that, by reason of circumstances affecting the eurodollar market generally, deposits in dollars (in the applicable amounts) are not being offered to banks in the eurodollar market for the selected term, or adequate means do not exist for ascertaining LIBOR, then the Bank shall give notice thereof to the Borrower. Thereafter, until the Bank notifies the Borrower that the circumstances giving rise to such suspension no longer exist, (a) the availability of the LIBOR Option and Daily LIBOR Option shall be suspended, and (b) the interest rate for all advances then bearing interest under the LIBOR Option and Daily LIBOR Option shall be converted at the expiration of the then current LIBOR Interest Period(s) (or immediately in the case of the Daily LIBOR Option) to the Base Rate Option.

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In addition, if, after the date of this Note, the Bank shall determine (which determination shall be final and conclusive) that any enactment, promulgation or adoption of or any change in any applicable law, rule or regulation, or any change in the interpretation or administration thereof by a governmental authority, central bank or comparable agency charged with the interpretation or administration thereof, or compliance by the Bank with any guideline, request or directive (whether or not having the force of law) of any such authority, central bank or comparable agency shall make it unlawful or impossible for the Bank to make or maintain or fund loans based on LIBOR, the Bank shall notify the Borrower. Upon receipt of such notice, until the Bank notifies the Borrower that the circumstances giving rise to such determination no longer apply, (a) the availability of the LIBOR Option and Daily LIBOR Option shall be suspended, and (b) the interest rate on all advances then bearing interest under the LIBOR Option and Daily LIBOR Option shall be converted to the Base Rate Option either (i) on the last day of the then current LIBOR Interest Period(s) (or immediately in the case of the Daily LIBOR Option) if the Bank may lawfully continue to maintain advances based on LIBOR to such day, or (ii) immediately if the Bank may not lawfully continue to maintain advances based on LIBOR.

The foregoing notwithstanding, it is understood that the Borrower may select different Options to apply simultaneously to different portions of the advances and may select up to six (6) different interest periods to apply simultaneously to different portions of the advances bearing interest under the LIBOR Option. Interest hereunder will be calculated based on the actual number of days that principal is outstanding over a year of 360 days. In no event will the rate of interest hereunder exceed the maximum rate allowed by law.

3. Interest Rate Election . Subject to the terms and conditions of this Note, at the end of each interest period applicable to any advance, the Borrower may renew the Option applicable to such advance or convert such advance to a different Option; provided that , during any period in which any Event of Default (as hereinafter defined) has occurred and is continuing, any advances bearing interest under the LIBOR Option and Daily LIBOR Option shall, at the Bank’s sole discretion, be converted at the end of the applicable LIBOR Interest Period (or immediately in the case of the Daily LIBOR Option) to the Base Rate Option and the LIBOR Option and Daily LIBOR Option will not be available to Borrower with respect to any new advances (or with respect to the conversion or renewal of any existing advances) until such Event of Default has been cured by the Borrower or waived by the Bank. The Borrower shall notify the Bank of each election of an Option, each conversion from one Option to another, the amount of the advances then outstanding to be allocated to each Option and where relevant the interest periods (if any) therefor. In the case of converting to the LIBOR Option or the Daily LIBOR Option, such notice shall be given at least three (3) Business Days prior to the commencement of any LIBOR Interest Period (or start of the Daily LIBOR Option, as applicable). If no interest period is specified in any such notice for which the resulting advance is to bear interest under the LIBOR Option, the Borrower shall be deemed to have selected a LIBOR Interest Period of one month’s duration. If no notice of election, conversion or renewal is timely received by the Bank with respect to any advance, the Borrower shall be deemed to have elected the Base Rate Option. Any such election shall be promptly confirmed in writing by such method as the Bank may require.

4. Advance Procedures . If permitted by the Bank, a request for advance may be made by telephone or electronic mail, with such confirmation or verification (if any) as the Bank may require in its discretion from time to time. The Borrower authorizes the Bank to accept telephonic and electronic requests for advances, and the Bank shall be entitled to rely upon the authority of any person providing such instructions. The Borrower hereby indemnifies and holds the Bank harmless from and against any and all damages, losses, liabilities, costs and expenses (including reasonable attorneys’ fees and expenses) which may arise or be created by the acceptance of such telephonic and electronic requests or by the making of such advances. The Bank will enter on its books and records, which entry when made will be presumed correct, the date and amount of each advance, as well as the date and amount of each payment made by the Borrower.

5. Payment Terms . The Borrower shall pay accrued interest on the unpaid principal balance of this Note in arrears: (a) for the portion of advances bearing interest under the Base Rate Option and the Daily LIBOR Option, on the last day of each quarter during the term hereof, (b) for the portion of advances bearing interest under the LIBOR Option, on the last day of the respective LIBOR Interest Period for such advance, and (c) for all advances, at maturity, whether by acceleration of this Note or otherwise, and after maturity, on demand until paid in full. All outstanding principal and accrued interest hereunder shall be due and payable in full on the Expiration Date.

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If any payment under this Note shall become due on a day other than a Business Day, such payment shall be made on the next succeeding Business Day and such extension of time shall be included in computing interest in connection with such payment. The Borrower hereby authorizes the Bank to charge the Borrower’s deposit account at the Bank for any payment when due hereunder.

6. Default Rate . Upon maturity, whether by acceleration, demand or otherwise, and at the Bank’s option upon the occurrence of any Event of Default (as hereinafter defined) and during the continuance thereof, each advance outstanding under this Note shall bear interest at a rate per annum (based on the actual number of days that principal is outstanding over a year of 360 days) which shall be two percentage points (2%) in excess of the interest rate in effect from time to time under this Note but not more than the maximum rate allowed by law (the “ Default Rate ”). The Default Rate shall continue to apply whether or not judgment shall be entered on this Note. The Default Rate is imposed as liquidated damages for the purpose of defraying the Bank’s expenses incident to the handling of delinquent payments, but are in addition to, and not in lieu of, the Bank’s exercise of any rights and remedies hereunder, under the other Loan Documents or under applicable law, and any fees and expenses of any agents or attorneys which the Bank may employ. In addition, the Default Rate reflects the increased credit risk to the Bank of carrying a loan that is in default. The Borrower agrees that the Default Rate is a reasonable forecast of just compensation for anticipated and actual harm incurred by the Bank, and that the actual harm incurred by the Bank cannot be estimated with certainty and without difficulty.

7. Prepayment . The Borrower shall have the right to prepay any advance hereunder at any time and from time to time, in whole or in part; subject, however, to payment of any break funding indemnification amounts owing pursuant to paragraph 9 below.

8. Increased Costs; Yield Protection . On written demand, together with written evidence of the justification therefor, the Borrower agrees to pay the Bank all direct costs incurred, any losses suffered or payments made by the Bank as a result of any Change in Law (hereinafter defined), imposing any reserve, deposit, allocation of capital or similar requirement (including without limitation, Regulation D of the Board of Governors of the Federal Reserve System) on the Bank, its holding company or any of their respective assets relative to the Facility. “ Change in Law ” means the occurrence, after the date of this Note, of any of the following: (a) the adoption or taking effect of any law, rule, regulation or treaty, (b) any change in any law, rule, regulation or treaty or in the administration, interpretation, implementation or application thereof by any governmental authority or (c) the making or issuance of any request, rule, guideline or directive (whether or not having the force of law) by any governmental authority; provided that notwithstanding anything herein to the contrary, (x) the Dodd-Frank Wall Street Reform and Consumer Protection Act and all requests, rules, guidelines or directives thereunder or issued in connection therewith and (y) all requests, rules, guidelines or directives promulgated by the Bank for International Settlements, the Basel Committee on Banking Supervision (or any successor or similar authority) or the United States or foreign regulatory authorities, in each case pursuant to Basel III, shall in each case be deemed to be a “Change in Law”, regardless of the date enacted, adopted or issued.

9. Break Funding Indemnification . The Borrower agrees to indemnify the Bank against all direct liabilities, losses or expenses (including any loss or expense incurred in connection with the liquidation or reemployment of funds obtained by it to maintain the Loan) which the Bank sustains or incurs as a consequence of either (i) the Borrower’s failure to make a payment on the due date thereof, (ii) the Borrower’s revocation (expressly, by later inconsistent notices or otherwise) in whole or in part of any notice given to Bank to request, convert, renew or prepay any advance bearing interest under the LIBOR Option, or (iii) the Borrower’s payment or prepayment (whether voluntary, after acceleration of the maturity of this Note or otherwise) or conversion of any advance bearing interest under the LIBOR Option on a day other than the last day of the applicable LIBOR Interest Period. A notice as to any amounts payable pursuant to this paragraph given to the Borrower by the Bank shall, in the absence of manifest error, be conclusive and shall be payable upon demand. The Borrower’s indemnification obligations hereunder shall survive the payment in full of the advances and all other amounts payable hereunder.

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10. Other Loan Documents . This Note is issued in connection with a certain letter agreement between the Borrower and the Bank (as amended, restated or otherwise modified, the “ Letter Agreement ”), dated as of the date hereof, and the other agreements and documents executed and/or delivered in connection therewith or referred to therein, the terms of which are incorporated herein by reference (collectively, with the Note, as amended, modified or renewed from time to time, the “ Loan Documents ”). In addition, to the extent capitalized terms are used herein and in the Letter Agreement and not defined herein or therein, such terms shall have the meanings given to them in the Credit Agreement (hereafter defined) and such applicable definitions shall be deemed incorporated herein by reference. For purposes of the Loan Documents, “ Credit Agreement ” means that certain Credit Agreement dated as of December 4, 2018 by and among the Borrower, the Bank, as administrative agent, the guarantors party thereto from time to time, and the lenders party thereto from time to time, as amended, supplemented or otherwise modified prior to the date hereof and as hereafter amended, restated, supplemented or otherwise modified; provided , however, that no amendment, restatement, supplement or other modification of any provision of the Credit Agreement that occurs after the date hereof will be incorporated herein (whether by reference or otherwise) unless the Bank has provided its consent thereto (if its consent was requested) in its capacity as a lender and/or the administrative agent under the Credit Agreement.

11. Events of Default . The occurrence of any of the following events will be deemed to be an “ Event of Default ” under this Note and the other Loan Documents: (i) the nonpayment of any principal, interest or other indebtedness under this Note when due; (ii) if any representation or warranty made by Borrower in the Letter Agreement shall prove to be untrue in any material respect when made; (iii) the occurrence of any default with respect to any of Borrower’s covenants set forth in the Letter Agreement; provided , however, that to the extent the Borrower is afforded a grace and/or cure period with respect to the circumstances giving rise to such default under the Credit Agreement, then the Borrower shall be afforded the same grace and/or cure period hereunder, which grace and/or cure periods will run concurrently (and not consecutively); or (iv) the occurrence of any Event of Default as defined in the Credit Agreement, provided , however, that to the extent any occurrence that would give rise to an Event of Default under the Credit Agreement is waived by lenders party to the Credit Agreement without the consent of the Bank and the Bank’s consent was requested, the Bank shall have the option to determine that such occurrence gives rise to an Event of Default hereunder. Any event which, with the passage of notice or time, will mature into an Event of Default is referred to herein as a “ Potential Default .”

Upon the occurrence of an Event of Default: (a) the Bank shall be under no further obligation to make advances hereunder; (b) if an Event of Default specified in Section 9.1.15 or Section 9.1.16 of the Credit Agreement shall occur, the outstanding principal balance and accrued interest hereunder together with any additional amounts payable hereunder shall be immediately due and payable without demand or notice of any kind; (c) if any other Event of Default shall occur, the outstanding principal balance and accrued interest hereunder together with any additional amounts payable hereunder, at the Bank’s option and without demand or notice of any kind, may be accelerated and become immediately due and payable; (d) at the Bank’s option, this Note will bear interest at the Default Rate from the date of the occurrence of the Event of Default; and (e) the Bank may exercise from time to time any of the rights and remedies available under the Loan Documents or under applicable law.

12. Right of Setoff . If an Event of Default shall occur and be continuing, the Bank, its subsidiaries and affiliates shall have the right, in addition to all other rights and remedies available to it, without notice to Borrower, to set-off against and apply to the then unpaid balance of the Loan and all other obligations of the Borrower hereunder or under any other Loan Document any debt owing to, and any other funds held in any manner for the account of, the Borrower by the Bank, its subsidiaries and its affiliates including all funds in all deposit accounts (whether time or demand, general or special, provisionally credited or finally credited, or otherwise) now or hereafter maintained by the Borrower for its own account (but not including funds held in custodian or trust accounts) with the Bank, its subsidiaries and its affiliates. Such right shall exist whether or not the Bank shall have made any demand under this Note or any other Loan Document, whether or not such debt owing to or funds held for the account of the Borrower is or are matured or unmatured and regardless of the existence or adequacy of any security, right or remedy available to the Bank.

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13. Anti-Money Laundering/International Trade Law Compliance . The Borrower represents and warrants to the Bank, as of the date of this Note, the date of each advance of proceeds under the Facility, the date of any renewal, extension or modification of the Facility, and at all times until the Facility has been terminated and all amounts thereunder have been indefeasibly paid in full, that: (a) no Covered Entity (i) is a Sanctioned Person; (ii) has any of its assets in a Sanctioned Country or in the possession, custody or control of a Sanctioned Person in violation of any Anti-Terrorism Law; or (iii) does business in or with, or derives any of its operating income from investments in or transactions with, any Sanctioned Country or Sanctioned Person in violation of any Anti-Terrorism Law; (b) the proceeds of the Facility will not be used to fund any operations in, finance any investments or activities in, or, make any payments to, a Sanctioned Country or Sanctioned Person in violation of any Anti-Terrorism Law; (c) the funds used to repay the Facility are not derived from any unlawful activity; and (d) each Covered Entity shall comply with all Anti-Terrorism Laws. Borrower covenants and agrees that it shall immediately notify the Bank in writing upon the occurrence of a Reportable Compliance Event.

As used herein: “ Anti-Terrorism Laws ” means any laws relating to terrorism, trade sanctions programs and embargoes, import/export licensing, money laundering, or bribery, all as amended, supplemented or replaced from time to time; “ Compliance Authority ” means each and all of the (a) U.S. Treasury Department’s Office of Foreign Assets Control, (b) U.S. Treasury Department/Financial Crimes Enforcement Network, (c) U.S. State Department/Directorate of Defense Trade Controls, (d) U.S. Commerce Department/Bureau of Industry and Security, (e) U.S. Internal Revenue Service, (f) U.S. Justice Department, and (g) U.S. Securities and Exchange Commission; “ Covered Entity ” means the Borrower, its affiliates and subsidiaries, all guarantors, pledgors of collateral, all owners of the foregoing, and all brokers or other agents of the Borrower acting in any capacity in connection with the Facility; “ Reportable Compliance Event ” means that any Covered Entity becomes a Sanctioned Person, or is indicted, arraigned, investigated or custodially detained, or receives an inquiry from regulatory or law enforcement officials, in connection with any Anti-Terrorism Law or any predicate crime to any Anti-Terrorism Law, or self-discovers facts or circumstances implicating any aspect of its operations with the actual or possible violation of any Anti-Terrorism Law; “ Sanctioned Country ” means a country subject to a sanctions program maintained by any Compliance Authority; and “ Sanctioned Person ” means any individual person, a group, regime, entity or thing subject to, or specially designated under, any sanctions program maintained by any Compliance Authority.

14. Indemnity . The Borrower agrees to indemnify each of the Bank, each legal entity, if any, who controls, is controlled by or is under common control with the Bank, and each of their respective directors, officers and employees (the “ Indemnified Parties ”), and to defend and hold each Indemnified Party harmless from and against any and all claims, damages, losses, liabilities and expenses (including all fees and charges of internal or external counsel with whom any Indemnified Party may consult and all expenses of litigation and preparation therefor) which any Indemnified Party may incur or which may be asserted against any Indemnified Party by any person, entity or governmental authority (including any person or entity claiming derivatively on behalf of the Borrower), in connection with or arising out of or relating to the matters referred to in this Note or in the other Loan Documents or the use of any advance hereunder, whether (a) arising from or incurred in connection with any breach of a representation, warranty or covenant by the Borrower, or (b) arising out of or resulting from any suit, action, claim, proceeding or governmental investigation, pending or threatened, whether based on statute, regulation or order, or tort, or contract or otherwise, before any court or governmental authority; provided that such indemnity shall not, as to any Indemnified Party, be available to the extent that such claims, damages, losses, liabilities or expenses (x) are determined by a court of competent jurisdiction by final and non-appealable judgment to have resulted from the gross negligence or willful misconduct of such Indemnified Party or (y) result from a claim brought by the Borrower against an Indemnified Party for breach in bad faith of such Indemnified Party’s obligations hereunder or under any other Loan Document, if the Borrower has obtained a final and non-appealable judgment in its favor on such claim as determined by a court of competent jurisdiction. The indemnity agreement contained in this Section shall survive the termination of this Note, payment of any advance hereunder and the assignment of any rights hereunder. The Borrower may participate at its expense in the defense of any such action or claim.

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15. Miscellaneous . All notices, demands, requests, consents, approvals and other communications required or permitted hereunder (“ Notices ”) must be in writing (except as may be agreed otherwise above with respect to borrowing requests or as otherwise provided in this Note) and will be effective upon receipt. Notices may be given in any manner to which the parties may agree. Without limiting the foregoing, first-class mail, postage prepaid, facsimile transmission and commercial courier service are hereby agreed to as acceptable methods for giving Notices. In addition, the parties agree that Notices may be sent electronically to any electronic address provided by a party from time to time. Notices may be sent to a party’s address as set forth above or to such other address as any party may give to the other for such purpose in accordance with this paragraph. No delay or omission on the Bank’s part to exercise any right or power arising hereunder will impair any such right or power or be considered a waiver of any such right or power, nor will the Bank’s action or inaction impair any such right or power. The Bank’s rights and remedies hereunder are cumulative and not exclusive of any other rights or remedies which the Bank may have under other agreements, at law or in equity. No modification, amendment or waiver of, or consent to any departure by the Borrower from, any provision of this Note will be effective unless made in a writing signed by the Bank, and then such waiver or consent shall be effective only in the specific instance and for the purpose for which given. The Borrower agrees to pay on demand, to the extent permitted by law, all costs and expenses incurred by the Bank in the enforcement of its rights in this Note and in any security therefor, including without limitation reasonable fees and expenses of the Bank’s counsel. If any provision of this Note is found to be invalid, illegal or unenforceable in any respect by a court, all the other provisions of this Note will remain in full force and effect. The Borrower and all other makers and indorsers of this Note hereby forever waive presentment, protest, notice of dishonor and notice of non-payment. The Borrower also waives all defenses based on suretyship or impairment of collateral. If this Note is executed by more than one Borrower, the obligations of such persons or entities hereunder will be joint and several. This Note shall bind the Borrower and its heirs, executors, administrators, successors and assigns, and the benefits hereof shall inure to the benefit of the Bank and its successors and assigns; provided , however , that the Borrower may not assign this Note in whole or in part without the Bank’s written consent and the Bank at any time may assign this Note in whole or in part.

This Note has been delivered to and accepted by the Bank and will be deemed to be made in the State of New Jersey. THIS NOTE WILL BE INTERPRETED AND THE RIGHTS AND LIABILITIES OF THE BANK AND THE BORROWER DETERMINED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW JERSEY, EXCLUDING ITS CONFLICT OF LAWS RULES, INCLUDING WITHOUT LIMITATION THE ELECTRONIC TRANSACTIONS ACT (OR EQUIVALENT) IN EFFECT IN THE STATE OF NEW JERSEY (OR, TO THE EXTENT CONTROLLING, THE LAWS OF THE UNITED STATES OF AMERICA, INCLUDING WITHOUT LIMITATION THE ELECTRONIC SIGNATURES IN GLOBAL AND NATIONAL COMMERCE ACT) . The Borrower hereby irrevocably consents to the exclusive jurisdiction of any state or federal court in a county or judicial district in the State of New Jersey; provided that nothing contained in this Note will prevent the Bank from bringing any action, enforcing any award or judgment or exercising any rights against the Borrower individually, against any security or against any property of the Borrower within any other county, state or other foreign or domestic jurisdiction. The Borrower acknowledges and agrees that the venue provided above is the most convenient forum for both the Bank and the Borrower. The Borrower waives any objection to venue and any objection based on a more convenient forum in any action instituted under this Note.

16. USA PATRIOT Act Notice . To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify and record information that identifies each Borrower that opens an account. What this means: when the Borrower opens an account, the Bank will ask for the business name, business address, taxpayer identifying number and other information that will allow the Bank to identify the Borrower, such as organizational documents. For some businesses and organizations, the Bank may also need to ask for identifying information and documentation relating to certain individuals associated with the business or organization.

17. Electronic Signatures and Records . Notwithstanding any other provision herein, the Borrower agrees that this Note, the Loan Documents, any amendments thereto, and any other information, notice, signature card, agreement or authorization related thereto (each, a “ Communication ”) may, at the Bank’s option, be in the form of an electronic record. Any Communication may, at the Bank’s option, be signed or executed using electronic signatures. For the avoidance of doubt, the authorization under this paragraph may include, without limitation, use or acceptance by the Bank of a manually signed paper Communication which has been converted into electronic form (such as scanned into PDF format) for transmission, delivery and/or retention.

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18. WAIVER OF JURY TRIAL . T HE B ORROWER IRREVOCABLY WAIVES ANY AND ALL RIGHTS THE B ORROWER MAY HAVE TO A TRIAL BY JURY IN ANY ACTION , PROCEEDING OR CLAIM OF ANY NATURE RELATING TO THIS N OTE , ANY DOCUMENTS EXECUTED IN CONNECTION WITH THIS N OTE OR ANY TRANSACTION CONTEMPLATED IN ANY OF SUCH DOCUMENTS . T HE B ORROWER ACKNOWLEDGES THAT THE FOREGOING WAIVER IS KNOWING AND VOLUNTARY.

The Borrower acknowledges that it has read and understood all the provisions of this Note, including the waiver of jury trial, and has been advised by counsel as necessary or appropriate.

WITNESS the due execution hereof as a document under seal, as of the date first written above, with the intent to be legally bound hereby.

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