Exhibit 10.1

EXTENSION AGREEMENT

(Extension of Maturity Date Pursuant to Section 4.08 of the Credit Agreement)

This EXTENSION AGREEMENT (this “Agreement”) dated as of September 3, 2013 (the
“Extension Effective Date”) is entered into by and among DEVON ENERGY
CORPORATION, a Delaware corporation (the “U.S. Borrower”), DEVON NEC
CORPORATION, a Nova Scotia unlimited company (“Devon NEC”), and DEVON CANADA
CORPORATION, a Nova Scotia unlimited company (“Devon Canada,” and together with
Devon NEC, the “Canadian Borrowers,” and, together with U.S. Borrower, the
“Borrowers”), DEVON FINANCING COMPANY, L.L.C., a Delaware limited liability
company (“Devon Financing”), the undersigned Lenders (as defined in the Credit
Agreement) (the “Consenting Lenders”), and BANK OF AMERICA, N.A., as
Administrative Agent (in such capacity, the “Administrative Agent”), Canadian
Swing Line Lender and U.S. Swing Line Lender. As used herein, “Guarantors” shall
mean the U.S. Borrower and Devon Financing. Capitalized terms used herein and
not otherwise defined herein shall have the meanings attributed to them in the
Credit Agreement (as hereinafter defined).

R E C I T A L S

A. Reference is made to the Credit Agreement dated as of October 24, 2012 among
the Borrowers, the Administrative Agent and the Lenders (the “Credit
Agreement”).

B. This Agreement is being executed to evidence Borrower’s requested extension
of the Maturity Date from October 24, 2017 to October 24, 2018 pursuant to
Section 4.08 of the Credit Agreement (the “Extension”).

C. Each of the Consenting Lenders is entering into this Agreement in order to
evidence its consent to the Extension.

NOW, THEREFORE, the parties hereto agree as follows:

1. Consent to Extension. Subject to the satisfaction of the conditions precedent
set forth in Paragraph 2 below, each Consenting Lender hereby consents to the
Extension.

2. Conditions Precedent to Effectiveness. This Agreement and the Extension shall
be effective as of the date hereof, provided that Administrative Agent shall
have received (a) counterparts of this Agreement, executed by the Borrowers, the
Guarantors and the Lenders holding more than 50% of the Aggregate Commitments
(calculated in accordance with Section 4.08 of the Credit Agreement), and (b) a
certificate of each Loan Party dated as of the date hereof containing the
certifications required by Section 4.08(b) of the Credit Agreement.

3. Affirmation and Ratification of Loan Documents. Each Borrower and each
Guarantor hereby (a) ratifies and affirms each Loan Document to which it is a
party (as modified by the Extension), (b) agrees that all of its obligations and
covenants under each Loan Document to which it is a party shall remain
unimpaired by the execution and delivery of this Agreement and the other
documents and instruments executed in connection herewith, and (c) agrees that
each Loan Document to which it is a party (as modified by the Extension) shall
remain in full force and effect.

4. Representations of Borrowers. Each Borrower represents and warrants for the
benefit of the Consenting Lenders and the Administrative Agent as follows:
(a) before and after giving effect to the Extension, the representations and
warranties contained in Article 7 of the Credit Agreement and the other Loan
Documents made by it are true and correct in all material respects on and as of
the Extension

 

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Effective Date, except to the extent that such representations and warranties
specifically refer to an earlier date, (b) before and after giving effect to the
Extension no Default exists or will exist, and (c) no event has occurred since
the date of the most recent audited financial statements of the U.S. Borrower
delivered pursuant to Section 8.02(a) of the Credit Agreement that has had, or
could reasonably be expected to have, a Material Adverse Effect.

5. Miscellaneous. (a) Headings and captions may not be construed in interpreting
provisions; (b) this Agreement shall be governed by, and construed in accordance
with, the law of the State of New York; and (c) this Agreement may be executed
in any number of counterparts, and by the different parties hereto on separate
counterparts, with the same effect as if all signatories had signed the same
document, and all of those counterparts must be construed together to constitute
the same document. Delivery of an executed signature page by facsimile or other
electronic transmission shall be effective as delivery of a manual executed
counterpart.

6. ENTIRE AGREEMENT. THE CREDIT AGREEMENT AND THE OTHER LOAN DOCUMENTS, TOGETHER
WITH THIS AGREEMENT, REPRESENT THE FINAL AGREEMENT BETWEEN THE PARTIES AND MAY
NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS, OR SUBSEQUENT ORAL
AGREEMENTS OF THE PARTIES. THERE ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN THE
PARTIES.

[Signature Pages to Follow]

 

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IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly
executed as of the date first above written.

 

DEVON ENERGY CORPORATION, as the U.S.

Borrower and a Guarantor

By:  

/s/ David G. Harris

  Name:  

David G. Harris

  Title:  

Vice President, Corporate Finance and Treasurer

 

DEVON NEC CORPORATION, as a Canadian

Borrower

By:  

/s/ David G. Harris

 

Name:

  David G. Harris  

Title:

  Treasurer

 

DEVON CANADA CORPORATION, as a Canadian Borrower By:   /s/ David G. Harris  

Name:

  David G. Harris  

Title:

  Treasurer    

 

DEVON FINANCING COMPANY, L.L.C. , as a

Guarantor

By:   /s/ David G. Harris  

Name:

  David G. Harris  

Title:

  Vice President and Treasurer            

 

Signature Page S-1

to Extension Agreement

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BANK OF AMERICA, N.A.,

as Administrative Agent

By:   /s/ Angelo M. Martorana  

Angelo M. Martorana

 

Assistant Vice President

 

BANK OF AMERICA, N.A.,

by its Canada Branch, as Administrative Agent

By:  

/s/ Medina Sales de Andrade

  Name:  

Medina Sales de Andrade

  Title:  

Vice President

 

BANK OF AMERICA, N.A.,

as a Lender, a U.S. L/C Issuer, and a U.S. Swing Line Lender

By:  

/s/ Alia Qaddumi

  Name:  

Alia Qaddumi

  Title:  

Vice President

 

BANK OF AMERICA, N.A., by its Canada Branch,

as a Canadian Lender, a Canadian L/C Issuer, and a

Canadian Swing Line Lender

By:  

/s/ Medina Sales de Andrade

  Name:  

Medina Sales de Andrade

  Title:  

Vice President

 

JPMORGAN CHASE BANK, N.A., as a Lender and a U.S.

L/C Issuer

By:  

/s/ Debra Hrelja

  Name:  

Debra Hrelja

  Title:  

Vice President

 

Signature Page S-2

to Extension Agreement

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JPMORGAN CHASE BANK, N.A., TORONTO

BRANCH, as a Canadian Lender and a Canadian L/C

Issuer

By:   /s/ Debra Hrelja   Name:   Debra Hrelja  

Title:

  Vice President

ROYAL BANK OF CANADA, as a Lender, a U.S.

L/C Issuer, a Canadian Lender, and a Canadian L/C

Issuer

By:   /s/ James R. Allred   Name:   James R. Allred  

Title:

  Authorized Signatory

THE ROYAL BANK OF SCOTLAND PLC, as a

Lender, a U.S. L/C Issuer, a Canadian Lender and a

Canadian L/C Issuer

By:   /s/ David Slye   Name:   David Slye  

Title:

  Authorised Signatory

BARCLAYS BANK PLC, as a Lender, a U.S. L/C

Issuer, a Canadian Lender and a Canadian L/C Issuer

By:   /s/ Vanessa Kurbatskiy   Name:   Vanessa Kurbatskiy  

Title:

  Vice President

THE BANK OF TOKYO-MITSUBISHI UFJ, LTD.,

as a Lender

By:   /s/ Mark Oberreuter   Name:   Mark Oberreuter  

Title:

  Vice President

 

Signature Page S-3

to Extension Agreement

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CANADIAN IMPERIAL BANK OF COMMERCE,

NEW YORK AGENCY, as a Lender

By:   /s/ Richard Antl   Name:   Richard Antl  

Title:

  Authorized Signatory By:   /s/ Trudy Nelson   Name:   Trudy Nelson  

Title:

  Authorized Signatory

CANADIAN IMPERIAL BANK OF COMMERCE,

as a Canadian Lender

By:   /s/ Chris Perks   Name:   Chris Perks  

Title:

  Executive Director By:   /s/ Joelle Chatwin   Name:   Joelle Chatwin  

Title:

  Executive Director CITIBANK, N.A., as a Lender By:   /s/ Mason McGurrin  
Name:   Mason McGurrin  

Title:

  Vice President CITIBANK, N.A., CANADIAN BRANCH, as a Canadian Lender By:   /s/
Jawdat Sha’sha’a   Name:   Jawdat Sha’sha’a  

Title:

  Authorised Signer

 

Signature Page S-4

to Extension Agreement

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CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH, as a Lender By:  

/s/ Kevin Buddhdew

  Name:   Kevin Buddhdew  

Title:

  Authorized Signatory By:  

/s/ Michael Spaight

  Name:   Michael Spaight  

Title:

  Authorized Signatory

 

DEUTSCHE BANK AG NEW YORK BRANCH, as a Lender By:  

/s/ Ming K. Chu

  Name:   Ming K. Chu  

Title:

  Vice President By:  

/s/ Virginia Cosenza

  Name:   Virginia Cosenza  

Title:

  Vice President

 

DEUTSCHE BANK AG CANADA BRANCH, as a Canadian Lender By:  

/s/ Paul Uffelmann

  Name:   Paul Uffelmann  

Title:

  Vice President By:  

/s/ David Gynn

  Name:   David Gynn  

Title:

  Chief Financial Officer

 

Signature Page S-5

to Extension Agreement

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EXPORT DEVELOPMENT CANADA, as a Lender By:   /s/ Talal M. Kairouz   Name:  
Talal M. Kairouz  

Title:

  Senior Asset Manager By:   /s/ Shaun Enright   Name:   Shaun Enright  

Title:

  Sr. Asset Manager

 

GOLDMAN SACHS BANK USA, as a Lender By:   /s/ Rebecca Kratz   Name:   Rebecca
Kratz  

Title:

  Authorized Signatory

 

MORGAN STANLEY BANK, N.A., as a Lender and a Canadian Lender By:   /s/ Kelly
Chin   Name:   Kelly Chin  

Title:

  Authorized Signatory

 

THE BANK OF NOVA SCOTIA, as a Lender, a Canadian Lender, and a Canadian L/C
Issuer By:   /s/ Mark Sparrow   Name:   Mark Sparrow  

Title:

  Director

 

Signature Page S-6

to Extension Agreement

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UBS LOAN FINANCE LLC, as a Lender and a Canadian Lender By:   /s/ Lana Gifas  
Name:   Lana Gifas  

Title:

  Director By:   /s/ Joselin Fernandes   Name:   Joselin Fernandes  

Title:

  Associate Director

 

U.S. BANK NATIONAL ASSOCIATION, as a Lender By:   /s/ Patrick Jeffrey   Name:  
Patrick Jeffrey  

Title:

  Vice President

 

U.S. BANK NATIONAL ASSOCIATION, CANADA BRANCH, as a Canadian Lender By:   /s/
Paul Rodgers   Name:   Paul Rodgers  

Title:

  Vice President

 

WELLS FARGO BANK, N.A., as a Lender By:   /s/ Shannan Townsend   Name:   Shannan
Townsend   Title:   Managing Director

 

BANK OF MONTREAL, as a Lender and a Canadian Lender By:   /s/ Melissa Guzmann  
Name:   Melissa Guzmann  

Title:

  Vice President

 

Signature Page S-7

to Extension Agreement