EIGHTH AMENDED AND RESTATED LOAN CONTRACT Dated as of April 23, 2013 between OGLETHORPE POWER CORPORATION (AN ELECTRIC MEMBERSHIP CORPORATION) and UNITED STATES OF AMERICALoan Contract • May 13th, 2013 • Oglethorpe Power Corp • Electric services
THIS EIGHTH AMENDED AND RESTATED LOAN CONTRACT, dated as of April 23, 2013, is between OGLETHORPE POWER CORPORATION (AN ELECTRIC MEMBERSHIP CORPORATION), formerly known as Oglethorpe Power Corporation (An Electric Membership Generation & Transmission Corporation) (together with any successors and assigns, the “Borrower”), a corporation organized and existing under the laws of the State of Georgia (the “State”), and the UNITED STATES OF AMERICA (the “Government”), acting by and through the Administrator (together with any person succeeding to the powers and rights of the Administrator with respect to this Agreement, the “Administrator”) of the Rural Utilities Service (together with any agency succeeding to the powers and rights of the Rural Utilities Service with respect to this Agreement, the “RUS”), and amends and restates that certain Seventh Amended and Restated Loan Contract, dated as of April 15, 2011, between the Borrower and the Government, acting by and through the Administrato
SALARY CONTINUATION AGREEMENTSalary Continuation Agreement • May 13th, 2013 • Oglethorpe Power Corp • Electric services • Georgia
This Salary Continuation Agreement (“Agreement”) between Thomas A. Smith (“Executive”) and Oglethorpe Power Corporation (the “Company”) is effective as of the date hereof. The Company and Executive entered into an employment agreement effective as of January 1, 2007, which terminates in the event of Executive’s disability (as defined in such employment agreement). The Company has decided to provide Executive with salary continuation payments under certain circumstances if he becomes Totally Disabled while employed by the Company, subject to all of the terms of this Agreement.
COBRA BONUS AGREEMENTCobra Bonus Agreement • May 13th, 2013 • Oglethorpe Power Corp • Electric services • Georgia
This COBRA Bonus Agreement (“Agreement”) between Thomas A. Smith (“Executive”) and Oglethorpe Power Corporation (the “Company”) is effective as of the date hereof. The Company has decided to provide Executive with a lump-sum bonus in recognition of his long and valuable service with the Company. This bonus is intended to assist him in certain circumstances in paying for health care continuation coverage to which he or his qualified beneficiaries may become entitled pursuant to Internal Revenue Code (the “Code”) Section 4980B (“COBRA Coverage”), subject to all of the terms of this Agreement.
