0001493152-16-008948 Sample Contracts

GUARANTY AGREEMENT
Guaranty Agreement • April 15th, 2016 • Aspirity Holdings LLC • Commodity contracts brokers & dealers • New York

This Guaranty Agreement (the “Guaranty”) is made by Aspirity Holdings LLC, a Minnesota limited liability company (“Guarantor”), in favor of Exelon Generation Company, LLC (“Counterparty”), a Pennsylvania limited liability company.

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Pledge AGREEMENT
Pledge Agreement • April 15th, 2016 • Aspirity Holdings LLC • Commodity contracts brokers & dealers • New York

This Pledge Agreement dated as of March 30, 2016 (this “Agreement”), is between Exelon Generation Company, LLC, a Pennsylvania limited liability company (“Secured Party”), and each of the undersigned Pledgors reflected on the signature pages hereof (each a “Pledgor” and collectively the “Pledgors”, and with Secured Party, the “Parties”).

AMENDED AND RESTATED OPERATING AGREEMENT OF ASPIRITY HOLDINGS LLC
Operating Agreement • April 15th, 2016 • Aspirity Holdings LLC • Commodity contracts brokers & dealers • Minnesota

This Amended and Restated Operating Agreement (this “Agreement”) is made and entered into effective as of March 30, 2016, among Aspirity Holdings LLC (the “Company”) and the persons set forth on Schedule A.

AMENDMENT NO. 1 TO TERM LOAN AGREEMENT
Term Loan Agreement • April 15th, 2016 • Aspirity Holdings LLC • Commodity contracts brokers & dealers

This Amendment No. 1 to Term Loan Agreement is entered into effective the 1st day of November, 2015, by and between Aspirity Financial LLC (“Lender”) and Krieger Enterprises, LLC (“Borrower”).

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