Exhibit 4.7


 


INITIAL GRANT


 


ENERGY XXI GULF COAST, INC.


2016 LONG TERM INCENTIVE PLAN

RESTRICTED STOCK UNIT

INITIAL GRANT SETTLEMENT ELECTION FORM


 


Please complete this Initial Grant Settlement
Election Form (this “Form”) and return a signed copy to the [_____] of Energy XXI Gulf Coast, Inc. (the
“Company”). Any capitalized terms used but not defined in this Form shall have the meaning set forth
in the Energy XXI Gulf Coast, Inc. 2016 Long Term Incentive Plan (the “Plan”), the Restricted Stock Unit
Agreement (the “Award Agreement”), or the applicable Notice of Grant (the “Notice of Grant”).


 


	Name:	 	 


 


NOTE: This Form relates to your initial
award of Restricted Stock Units (the “Initial Award”). You are eligible to participate in the non-qualified
deferred compensation plan (within the meaning of the Nonqualified Deferred Compensation Rules) pursuant to which you may defer
the settlement of Restricted Stock Units. You may complete and return this Form any time prior to January 31, 2017; however, if
you wish to defer the settlement of the entire Initial Award you must return the Form no later than the Date of Grant of the Initial
Award. If you return this Form after the Date of Grant of the Initial Award but prior to January 31, 2017 you may only defer a
pro-rata portion of the Initial Award calculated by multiplying the number of Restricted Stock Units included in the Initial Award
by a fraction, the numerator of which is the number of days from the date of your election through December 31, 2019, and the denominator
of which is the total number of days from the Date of Grant of the Initial Award (January 17, 2017) through December 31, 2019.
If you do not wish to make a deferral election, no action is required on your part and the Initial Award will be settled at the
time specified in your Award Agreement and Notice of Grant. 


 


		1.	Settlement of Restricted Stock Units



 


Irrespective of your
election below, the Restricted Stock Units will continue to be subject to the terms of the Plan, the Award Agreement, and the Notice
of Grant for the Initial Award in addition to this Form. In order to defer the settlement of the Initial Award you must sign this
form and return it to the Company.


 


Recognizing that such election
is contingent in all respects upon the prior vesting of the Initial Award, I hereby irrevocably elect to receive the Stock and
any Dividend Equivalents issuable pursuant to the Initial Award upon the earliest to occur of (i) a Change of Control (as defined
in the Plan) or (ii) my “separation from service” within the meaning of the Nonqualified Deferred Compensation Rules
(as defined in the Plan and subject to any limitations described in my Notice of Grant or Award Agreement)


 


		2.	Signature



 


I understand that my right to settlement
of the Stock and Distribution Equivalents pursuant to the Award Agreement and Notice of Grant is subject to the rights of the Company’s
creditors in the event of the Company’s insolvency. I further understand that this Form will be effective upon the later
of (i) the Date of Grant of the Initial Award and (ii) receipt of this Form by the Company and, once effective, shall be irrevocable.


 


By executing this Form, I hereby acknowledge
my understanding of and agreement with the terms and provisions set forth in this Form, the Plan, the Award Agreement, and the
Notice of Grant.


 




     


     


    

 


	DIRECTOR	 	ENERGY XXI GULF COAST, INC.
	 	 	 	 	 
	By:	 	 	By:	 
	 	 	 	 	 
	Name:	 	 	Name:	 
	 	 	 	 	 
	Date:	 	 	Title:	 
	 	 	 	 	 
	 	 	 	Date:	 


 




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