Exhibit 10.10

 

September 11, 2012

 

ZaZa Energy Corporation

1301 McKinney Street, Suite 2850

Houston, Texas 77010

 

Re: Subordinated Promissory Notes

 

Dear Sirs;

 

Reference is hereby made to those Subordinated Promissory Notes issued by ZaZa
Energy Corporation (the “Company”) on February 21, 2012 and referred to on
Schedule I to which the undersigned are payees thereunder (the “Notes”).  Said
interest is due and payable at the end of each month from the issue date.  The
Company has been accruing payments of interest on the Notes since the issue
date.  A partial interest payment has been made on the date hereof.  Each of the
undersigned acknowledges and agrees that any remaining accrued interest on the
Notes as of the date hereof, as well as any interest accruing after the date
hereof, shall not be required to be paid until the earlier of (i) the occurrence
of an event providing the Company with liquidity sufficient to make such
payments or (ii) February 21, 2013.  It is the understanding of the undersigned
that interest will accrue on accrued and unpaid interest from the date such
interest payment was originally due.  Each of the Notes remain in full force and
effect in accordance with the terms thereof, except as may be expressly amended
or waived hereby.  The foregoing waiver and amendment to the Notes by the
undersigned is expressly conditioned upon the approval of this letter by the
Board of Directors of the Company.

 

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The undersigned, for the benefit of the Company, hereby confirm the following is
acceptable as of the date first written above.

 

 

Omega Energy LLC

 

 

 

 

 

By:

/s/ Gaston L. Kearby

 

 

Gaston L. Kearby

 

 

Manager

 

 

 

 

 

/s/ Gaston L. Kearby

 

Gaston L. Kearby

 

 

 

 

 

Lara Energy, Inc.

 

 

 

 

 

By:

/s/ John E. Hearn, Jr.

 

 

John E. Hearn, Jr.

 

 

President

 

 

 

 

 

/s/ John E. Hearn, Jr.

 

John E. Hearn, Jr.

 

 

 

 

 

Blackstone Oil & Gas, LLC

 

 

 

 

 

By:

/s/ Todd Alan Brooks

 

 

Todd Alan Brooks

 

 

President

 

 

 

 

 

/s/ Todd Alan Brooks

 

Todd Alan Brooks

 

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Schedule I-Subordinated Notes

 

Subordinated Promissory Note dated as of February 21, 2012, issued to Blackstone
Oil & Gas, LLC, in the aggregate principal amount of $12,750,000

 

Subordinated Promissory Note dated as of February 21, 2012, issued to Lara
Energy, Inc., in the aggregate principal amount of $12,750,000

 

Subordinated Promissory Note dated as of February 21, 2012, issued to Omega
Energy Corp., in the aggregate principal amount of $12,750,000

 

Subordinated Promissory Note dated as of February 21, 2012, issued to Todd Alan
Brooks, in the aggregate principal amount of $3,026,666

 

Subordinated Promissory Note dated as of February 21, 2012, issued to John E.
Hearn, Jr., in the aggregate principal amount of $3,026,666

 

Subordinated Promissory Note dated as of February 21, 2012, issued to Gaston L.
Kearby, in the aggregate principal amount of $3,026,666

 

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