0001047469-15-005944 Sample Contracts

CSL Iowa System, LLC A Delaware Limited Liability Company OPERATING AGREEMENT
Operating Agreement • July 2nd, 2015 • CSL Capital, LLC • Real estate investment trusts • Delaware

THIS OPERATING AGREEMENT is made and entered into as of the 17th day of December, 2014, by CSL National, LP, a Delaware limited partnership (the “Member”).

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SEVERANCE AGREEMENT
Severance Agreement • July 2nd, 2015 • CSL Capital, LLC • Real estate investment trusts • Arkansas

This Severance Agreement (the “Agreement”), dated as of June 1, 2015 (the “Effective Date”), is made by and between Communications Sales & Leasing, Inc., a Maryland corporation (the “Corporation”), and Daniel L. Heard (“Executive”).

LIMITED PARTNERSHIP AGREEMENT OF CSL NORTH CAROLINA REALTY, LP
Limited Partnership Agreement • July 2nd, 2015 • CSL Capital, LLC • Real estate investment trusts • Delaware

This LIMITED PARTNERSHIP AGREEMENT (this “Agreement”) is made and entered into as of the 30th day of January, 2015, by and among CSL North Carolina Realty GP, LLC, a Delaware limited liability company, as the general partner (the “General Partner”), and CSL National, LP, a Delaware limited partnership, as the limited partner, and each other person (as hereinafter defined) who subsequently becomes a signatory to this Agreement as a limited partner (collectively, the “Limited Partners”). References in this Agreement to “Partner” or “Partners” shall be references to one or more parties to this Agreement.

Registration Rights Agreement Dated as of April 24, 2015 among Communications Sales & Leasing, Inc., CSL Capital, LLC, the Guarantors identified herein, and Merrill Lynch, Pierce, Fenner & Smith Incorporated and J.P. Morgan Securities LLC
Registration Rights Agreement • July 2nd, 2015 • CSL Capital, LLC • Real estate investment trusts • New York

This Registration Rights Agreement (the “Agreement”) is made and entered into this 24th day of April 2015, among Communications Sales & Leasing, Inc. (the “Issuer”), CSL Capital, LLC (the “Co-Issuer” and, together with the Issuer, the “Issuers”), the Guarantors identified on the signature pages hereto (the “Guarantors”) and Merrill Lynch, Pierce, Fenner & Smith Incorporated and J.P. Morgan Securities LLC, as representatives of the several initial purchasers listed in Schedule A to the Purchase Agreement (collectively, the “Initial Purchasers”).

CSL Tennessee Realty, LLC A Delaware Limited Liability Company OPERATING AGREEMENT
Operating Agreement • July 2nd, 2015 • CSL Capital, LLC • Real estate investment trusts • Delaware

THIS OPERATING AGREEMENT is made and entered into as of the 30th day of January, 2015, by CSL National, LP, a Delaware limited partnership, and CSL Tennessee Realty Partner, LLC, a Delaware limited liability company (together, the “Members”).

INDEMNITY AGREEMENT
Indemnity Agreement • July 2nd, 2015 • CSL Capital, LLC • Real estate investment trusts • Maryland

THIS INDEMNITY AGREEMENT (this “Agreement”) effective as of , by and among Communications Sales & Leasing, Inc., a Maryland corporation (the “Corporation”), CSL National, LP, a Delaware limited partnership (the “Partnership”), their subsidiaries and affiliates, and the undersigned director or officer of the Corporation (the “Indemnified Party”).

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